I have struggled to answer some basic contradictions in our economy. On the one hand, we have printed, spent, and…
The great man fallacy and family governance
When Philip II of Macedon rose to power in 359 BCE, his kingdom was a mess. Macedon had been defeated…
RIA of the Future: Rebuilding Your Firm Around Goals-Based Investing (Part 3 of 3)
Wealth management, as an industry, is slow to change. Perhaps some of that is justified – if clients are happy…
Investing for Life: Why I Believe in Goals-Based Investing (Part 1 of 3)
Never once, in my 15-plus years managing wealth, has someone complained about their portfolio rising too quickly. The inverse, of…
How Goals-Based Investing Actually Works: A Case Study (Part 2 of 3)
The code supplement to a case study in goals-based investing published with CityWire.
Investing for life: Why I believe in goals-based investing
Goals-based investing is more than a marketing buzzword, in this first of three articles with CityWire, I detail the differences…
Risk Management for Goals-Based Investors, Some Ideas
Some simple frameworks for risk management in goals-based portfolios.
A look at markets as they are, not as we wish them to be. Using R we illustrate two points made in Chapter 5 of Goals-Based Portfolio Theory
Allocating Wealth Through Time – A Goals-Based Method
Goals-based portfolio optimization across multiple periods.
Allocating Wealth Both Across Goals and Across Investments
How to optimize wealth across your goals, as well as to investment portfolios within each of your goals. Supplement to Chapter 3 of my book, Goals-Based Portfolio Theory.
What Does the P/E Ratio Tell You About Investor Expectations?
Price to earnings ratios are readily observable, but what can they tell us about a market or security?