Investing

Advancing the State of the Investment Art

Reflections on the power of the dialectic within the academic approach for diagnosing and solving the vexing issues relating to investing for individuals. Further reinforcement for upholding the principle of working to best solve the specific individual needs of each investment client, rather than contorting clients’ portfolios to fit into existing products.

Reflections on a New Record

A cautiously optimistic assessment of the S&P and Dow meeting their previous highs from 2000 and what the state of the market highs suggest, with respect to PE values and other indicators, for long-term investors.

The Hidden Costs of Investing: The A, B, Cs of Mutual Funds

A discussion and primer on the hidden costs of mutual funds, the primary types of "pre-packaged" investments that many investors get "advised" to put their money into. This is a must-read for investors who want to know what their advisor earns, what their real costs are for owning mutual funds, and why total fees are not easy […]

The Peculiar Alchemy of Hedge Funds

Shining a bright light into the dark caverns erected by hedge funds to assess where their gains come from and who actually gains from the under-acknowledged risks assumed by unregulated hedge fund managers. Explaining, in the process, why so many hedge funds suddenly collapse and why this could well become a more common occurance.

Hidden Costs of Investing

Dr. Tiemann wanders into the bizarre world of closed-end funds to answer the curious question of why these fickle investments so often are found to be trading in the market at a discount to their underlying portfolio value, even in investment categories where there are perfectly good alternatives available.

Dude, Where’s my Pension?

The bankruptcy filings of Northwest, Delta and Delphi reveal some of the pitfalls and perils that have emerged in the historically but possibly transitioning "paternalistic" system of planning for retirement benefits in the U.S. Discusses causes for the changes, impact on the Pension Benefits Guaranty Corporation and impacts on employers and employees.

Can News be Neutral?

Offers insight to the bias inherent in financial news reporting and the risks involved from trading on "news" from a fax alert, mailer or television program. Explains how looking at the broader picture and diversifying your data sources will result in better choices for the long term disciplined investor.

What to do with a Concentrated Portfolio

Investors often hold on to concentrated stock positions due to tax implications, loyalty and continued involvement. Reviews the risks of a concentrated portfolio without any compensating benefit and examines the balancing of risk and opportunity by selling at least part of the concentrated position and investing the proceeds in a diversified portfolio.

The Right Portfolio at the Right Price

Describes the bewildering array of options that exist for investors seeking solutions to portfolio management. Reviews the perils of doing it yourself and going with certain styles of traditional advisors. Explains why complexities in the market as well as the needs of individuals can expose investors to unknown risks, unnecessary taxes and hidden or excessive costs.