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The Daily Brief: Set It and Forget It!

The Daily Brief: Set It and Forget It!

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Contrary to human nature, a new study from the Columbia Business School concludes that it may, in fact, be better for investors to leave their portfolios alone, rather than make changes with even moderate frequency. Assistant Professor of finance and economics Michaela Pagel says that when people review their investments and make changes on their own, they make decisions that leave them worse off over time. “History has shown us that the stock market is a relatively safe bet over the long term because it has typically grown," Pagel said. The report also suggests a good financial advisor can help. 

Bet Against the Dollar

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The U.S. dollar is the strongest it’s been in nine years, but one market strategist is convinced that it is about to reverse course. Lawrence F. McDonald, head of U.S. macro strategy at Newedge, predicts that the Federal Reserve will start to talk down the dollar, creating sudden reversals in oil, coal and emerging market stocks. He also says this opens huge profit opportunities for anyone that buys in those sectors now – while the prices are low—and for anyone willing to bet against the dollar.

No One's Saving for a Rainy Day

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Despite decreasing unemployment, multiple studies have found that most Americans have such depleted savings that they are theoretically only one paycheck away from being out on the street. A survey from found that 62 percent of Americans don’t have savings for things like an emergency room visit or a sudden car repair. The findings echo a similar study by the U.S. Federal Reserve, which found that 57 percent of U.S. adults had used up their savings following the financial crisis, and that only 39 percent had a “rainy day” fund.

Plan Early for Dementia

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It’s already difficult enough to help clients plan their finances for the death of a loved one, but what if the client or the client’s family is dealing with losing the ability to make a decision? The Alzheimer’s Association says that one in three seniors in the U.S. contracts Alzheimer’s or dementia, and a financial planner shared a heartbreaking story on of a client trying to plan for a husband battling the illness. She tells planners to make a successful plan early to avoid a crisis, to understand the family’s backstory, to pick battles carefully, and to utilize resources out there that specialize in financial planning for people with dementia. 

Sacked Over Tweet

A 21-year-old British stockbroker was fired for a tweet. Hargreaves Lansdown fired Rayhan Qadar for tweeting on Monday “Think I just hit a cyclist. But Im late for work so had to drive off lol." Qadar later said the tweet was untrue and a bad joke, but the apology was not enough to save his job, according to the Telegraph.

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