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Advice from the SEC’s Office of Investor Education and Advocacy to help investors make better informed investment decisions and avoid common scams in 2017: Always check the background of an investment professional—it is easy and free. You can find details of an investment professional’s background and qualifications through the search tool on the SEC’s website [...]
The results of a recent poll by the CFA Institute exhibit interesting findings regarding our bias towards ownership – the so-called Endowment Effect. A full 84% of respondents indicated selling is tougher than buying. The most emotionally taxing decisions are outright sales (43%) followed by short sales (41%). Buying on margin (13%) came in third. [...]
What’s one way so many retail investors sabotage their savings plans? Recency bias. It’s that ugly state of mind where views are most heavily influenced by what we have experienced most recently. It impedes our ability to see the big picture. We lie to ourselves if we think we’re immune. “How did my investments perform [...]
The market’s up. The market’s down. The market’s up. The market’s down. What the ____ is going on? I need to do something. Help!!!!! Is market volatility driving you crazy? Here are some tips to deal with it: 1) Turn off the news Financial media has no interest in helping you or being your friend. [...]
“Knowledge does not equal understanding.” “Truth is truth no matter what I think about it.” “You’re looking at the world with a bias whether you think you are or not.” How much of our ‘knowledge’ prevents us from learning new things that might help make better financial decisions? And remember...it’s as easy as riding a [...]
Language is powerful. Oftentimes it gets lost in subtlety. During your next conversation listen for whether the person says, “I think” or “I feel.” It's quite telling. Feelings are great. The beauty of humanity is we experience emotion. Thoughts are great too. The beauty of humanity is we are capable of thought without limited capacity [...]
In many ways technology has lowered the cost of service delivery. For a nominal cost the friendly automated voice of the credit card company allows us to “press 1” to find out our balance. Similarly we can contact a customer service rep halfway around the world when we need to speak with someone. The question [...]
Customized financial planning and investment advice made clear and personal. From the moment of your first consultation and throughout our working relationship our role is to listen carefully, consult and respond to your financial challenges and most important life goals. Based on this information we provide you with sound, straightforward and unbiased advice. We work [...]
Were you confused about who can call themselves fee-only advisors? When you're done nodding you'll be comforted to know you're not alone. This past weekend The CFP Board stepped in with an attempt to clarify the issue after fumbling the ball last week. Never fear - bureaucracy is here! First we take a trip down [...]
"Religion is the opium of the people." If there's one Karl Marx quote with which we're familiar this is it. Sadly his words are taken out of context and provide a distorted impression of what he had to say about religion. What did he really say? "Religious distress is at the same time the expression of real [...]