Details Are Part of Our Difference
Embracing the Evidence at Anheuser-Busch – Mid 1980s
529 Best Practices
David Booth on How to Choose an Advisor
The One Minute Audio Clip You Need to Hear
Dan Solin and the Momentum Behind Our Approach
As we mentioned in last month’s blog, the momentum behind our approach to investing continues. The New York Times’ best-selling author, Dan Solin, published this recent piece on the same topic.
Click here to read the full article.
Habitat for Humanity
On Friday, August 15th, our team met in St. Louis to attend a Habitat for Humanity build at 12128 Trampe Heights Lane. We extend our thanks to a friend of the firm, John Castagno, for the invitation and also for serving as house leader during our build. We enjoyed the opportunity to learn some new skills, and we were proud to further Habitat’s efforts to create housing for someone in need.
Habitat For Humanity St. Louis is an impressive organization with over 350 homes in the St. Louis area. Everything in the process is guided by thoughtful planning—from thoroughly vetting homeowners to energy-efficient designs that make living in their homes more affordable. Visit their website to learn more about Habitat’s work.
The Decline and Fall of Fund Managers
Friends and clients of our firm know that we’ve been singing the same evidence-based refrain for many years, so it is a pleasure to see when the major financial media joins in our song. In the Sunday, August 22nd issue of The Wall Street Journal, Jason Zweig concludes that the old-fashioned, active fund manager is dead. Anyone with that job description is best served looking for new employment.
Jason bases his piece on a recent submission by Charles Ellis to the Financial Analysts Journal, The Rise and Fall of Performance Investing (subscription required). Here’s an excerpt from the summary of Ellis’ article:
As acceptance of indexing grows, clients and managers have an opportunity to stop focusing on price discovery (which has made our markets so efficient) and refocus on values discovery, whereby investment professionals can help investors achieve good performance by structuring an appropriate, long-term investment program and staying with it.
So where will the active managers land next? Today, there are only a few hundred thousand financial advisors for tens of millions of investors. Ellis asks, “Who better to fill the insatiable demand for financial advisers than former portfolio managers who know firsthand how hard it is to beat the market?”
Click here to read Jason Zweig’s WSJ piece (subscription required).
