Most people are unfamiliar with the investing term "carry". Carry is simply the cost or benefit of owning an asset. Bonds have a "positive carry" since they give you periodic coupon payments. All things being equal, bonds pay you to own them. An asset like crude oil may have a negative carry if you include … Continue reading What’s Your Carry?
Our firm recently lost a client. When we lose a client, which happens from time to time, we always reach out to that client to thank them for their business and ask why they left. This particular client had a family friend who is a financial advisor and the client wanted to consolidate accounts with … Continue reading Lost Client, Lost Upside
Most people know that stock markets across the globe had a great year in 2017. Few people take the time to review what didn't work in the past year. This chart from Deutsche Bank helps us visualize the returns (in US dollars) of various asset classes across the globe. Personally, my "invest-able" asset classes are … Continue reading The Worst Asset Class in 2017
It's that time of year again! No, not the holidays - stock market prediction time! The 2018 predictions are starting to roll in and the results look great: economists at some of the largest asset managers are expecting gains of about 7 to 10 percent in the US markets next year. This may sound good … Continue reading 2018 Stock Market Predictions
I recently picked up "Against The Gods - A Remarkable Story of Risk" by Peter L. Bernstein because it was on a number of must-read lists for investing nerds. The book is essentially history book on the topic of risk. It begins with early man and the belief that whatever happens to us in life … Continue reading Against The Gods