In years when Finra’s fee revenue exceeds forecasts and investment gains are strong, the regulator can rebate fees paid by firms it regulates. It hasn’t done that since 2014.
Telling the difference between patience and stubbornness is incredibly hard.
This is why we do what we do.
Whenever an institutional portfolio runs into trouble it’s typically a governance issue more than investment strategy that causes the problems.
If Warren Buffett has periods of underperformance, why would you expect anything differently for your personal portfolio?
Single stock positions don’t work in wealth management.
The former is a document. The latter is a process.
I’m not ready to concede that lower cost and better performance are on the side of passive investing.
By Barry Ritholtz and Nir Kaissar
Playing to a sea of dudes and bowling pins.
With Marc Maron and Jeff and Beau Bridges
The commander was sixteen and had to skip school to do the battle.
With Patrick O’Shaughnessy and a bunch of really smart nerds.
There’s been an M.Night revival.
With Bill Simmons and Jason Blum
I have to wait two weeks to get birth control but I can skip a background check and get a gun.
With Jon Favreau, Dan Pfeiffer, Jon Lovett, and Tommy Vietor
How can one know color in perpetual green, and what good is warmth without cold to give it sweetness?