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Pragmatic Capitalism

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Winning by Playing Small Ball

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Ichiro Suzuki is about to break Pete Rose’s all-time hits record of 4,256.¹ To understand how incredible this record is, just think that Derek Jeter is the only player in the last 20 years to come close to approaching the record. And he finished almost 800 hits shy! The admirable thing about Ichiro is his… Read More

John Oliver: Warning Signs of a Bad Financial Advisor

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John Oliver had a wonderful segment last night about the deceptive and damaging practices of some financial advisors and financial firms. I’ve spent much of my career with a front row seat at this table having started in the insurance business, then moving on to the largest stock brokerage firm, managing a small private partnership and finally… Read More

Beware of Guru Worship – George Soros Edition

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Here’s an article in the Wall Street Journal citing how bearish George Soros is. Which is strange because I feel like I’ve read that somewhere. Many times. Over many years. So I went into the Google time machine and found that this article has been written in varying forms multiple times over the last 3+… Read More

Successful Investing Requires a North Star

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The best investors in the world all have one thing in common – they have a well defined plan that they stick with through thick and thin. This plan serves as a north star regardless of where they are along the investment journey. For instance, a great value investor like Warren Buffett thinks that long-term… Read More

The Downside of Academic Finance

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Max Planck once said that science advances one funeral at a time.  In the fields of finance and economics it seems like we progress one plague at a time. That is, it usually takes decades worth of testing and evidence to prove that something really doesn’t work in the monetary world. So you can have really bad… Read More

What is the Worst Case Scenario for Bonds?

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Bonds are a very confusing financial instrument for most investors. This is especially true for individuals. As I’ve explained before, one of the main reasons why individual investors have performed so poorly over the last 30 years is the result of not owning bonds and instead either being too bearish about stocks (at the wrong times)… Read More

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