Seven Roles of an Advisor


What is a financial advisor for? One view is that advisors have unique insights into market direction that give their clients an advantage. But of the many roles a professional advisor should play, soothsayer is not one of them. The truth is that no one knows what will happen next in investment markets. And if… Read More »

Gravel Road Investing


Owners of all-purpose motor vehicles often appreciate their cars most when they leave smooth city freeways for rough gravel country roads. In investment, highly diversified portfolios can provide similar reassurance. In blue skies and open highways, flimsy city sedans might cruise along just as well as sturdier sports utility vehicles. But the real test occurs… Read More »

Why the Zero-Sum Game Gives Indexing an Edge


Elizabeth Tammaro: Bob would like to know how the stock market is a zero-sum game. And, Scott, I believe you have some information to provide an answer there. Scott Donaldson: Well, great, and that’s really an important question, I think, in light of certainly the overview that Walter just gave about indexing in general and… Read More »