How do you beat inflation without stock picking and market timing? You get exposure to systematic sources of excess return, a.k.a. premiums. This is one of our favorite slides because it highlights the premiums that savvy investors want exposure to, going back to 1927. Get low-cost, diversified, tax-efficient exposure to these factors, take the long view, and you’ve put the odds firmly in your favor.

This communication is normally reserved for clients and friends of our firm. We share this issue because it contains the first of many quizzes to come in the future. Click here for the latest EI.