If a picture speaks a thousand words, how much meaning can we pack into a picture with some words? Here are a few thoughts on the value of good advice. Enjoy!

Alert – This link is only for those of you who like the backstage, technical stuff.

Cliff Asness recently wrote a piece for Bloomberg called Indexing Is Capitalism at Its Best and we tend to agree. This column is in response to an active manager’s “research” report warning of the dangers of too much money moving to index, passive, and evidence-based strategies. Please make sure to read the footnotes, as they are every bit as relevant as the main content.

David Booth and Rex Sinquefield brought academic research to life in 1981 as true believers in investing based on facts over hunches. This recent article outlines the journey of transforming three decades of academic research and more than 60 years of data into the birthplace of evidence-based investing. Congratulations to David Booth for being recognized by Institutional Investor with a lifetime achievement award!

Click here to read the article.