In today’s Investor’s Business Daily, there is a wonderful quotation from a bank CEO that, I think, neatly sums up the problem caused by an activist government. Please go to VonAldo.com for more.
The study of behavioral finance tells us that people's fear of financial loss exceeds their desire for gain. This helps explain why most people, given a sum of money to invest, prefer to enter the market in stages rather than all at once
It seems counterintuitive, but qualified personal residence trusts (QPRTs) can make a lot of sense now. QPRTs are generally not considered effective in a low interest rate environment.
Not every fund is suffering huge cash outflows
Much has been made of Miller’s recent underperformance. Is Miller a genius who has temporarily gone cold? Or was he just lucky—for 15 years?
There was not much to celebrate in 2008 and very little so far in 2009. One thing we did learn in spades recently: In down markets, asset classes tend to be correlated
When everything is overvalued, chucking whole asset classes is not the same thing as market timing
Losses beget redemptions, which can beget more losses—and more redemptions