Why I Don’t Make Forecasts

“A spectacular zero” and advice from Janet Yellen At the end of this post, I’ll explain the picture above and the advice Janet Yellen gave me.  To start, though, most people know that I run an investment advisory firm and that, in the past, I held senior positions inside large Wall Street firms, giving advice … More Why I Don’t Make Forecasts

To Think Better – Goof Off and Go For A Walk

Walking makes you think better and goofing off is good for you. And no, I’m not being goofy. Classical Greek philosophers understood well the benefit of a break.  Aristotle’s school of thought is called Peripatetic, which means “walking” or “given to walk about”, and members of his school were thought to do their best thinking … More To Think Better – Goof Off and Go For A Walk

Would Hedge Fund Investors Be Wise To Remember The Sage Wisdom of Monty Python?

Beware of Hedge Fund Holy Grail Quests and Their “Shadow” Costs  A lot has been written about hedge fund fees and their relatively poor performance (click here for the latest from Warren Buffett), but not much has been written about other “shadow” costs of adding what are often pitched as holy grail like risk reducing … More Would Hedge Fund Investors Be Wise To Remember The Sage Wisdom of Monty Python?

Don’t Let Your Portfolio Get Sacked

Are you ready for the big game? Super Bowl 50. The seasoned star, Peyton Manning, in what could be his final game, versus the new star, Cam Newton. The only improvement from my New England perspective would be watching our Patriots this Sunday, but I am sure I will enjoy the excitment on the field … More Don’t Let Your Portfolio Get Sacked

Groundhog Day

Over and over, day after day. Crowds gather early in the morning to watch for what the future will bring. The media is on hand for the latest predictions and they run stories with sensational headlines to engage their audience. Men in coat and tie confer, hoist prominent prognosticators on high and loudly sing praises … More Groundhog Day

Your Brain On The Stock Market

The title of this blog is taken from the “This Is Your Brain On Drugs” (see Brain On Drugs below) public service announcement (PSA) that was run by the Partnership for a Drug-Free America in the 1980s. The video shows a man talking about the dangers of drugs.  He holds up an egg and says, “This is your … More Your Brain On The Stock Market

Consensus Recommendations Points to More Flows to European Equities – Should Consensus and Flows Be Followed?

I hope this finds everyone well.  I have been meaning to post this for over a week now but I have been out with a little back surgery.   All is well though and it has given me plenty of downtime to think outside the box a little and develop a few new thoughts and questions.  … More Consensus Recommendations Points to More Flows to European Equities – Should Consensus and Flows Be Followed?

Chair Yellen – Direct and Clear – Risks of Not Meeting Inflation Targets Are Higher Than Exceeding Them

At lunchtime yesterday, I was fortunate to hear Chair Janet Yellen speak at the Economic Club of New York. Much is in the paper about her talk and I have seen quite a few posts on the internet.  I am not a Federal Reserve (Fed) commentator by any standard, but I did want to at … More Chair Yellen – Direct and Clear – Risks of Not Meeting Inflation Targets Are Higher Than Exceeding Them

Consensus Points to Slower Growth – Is This a Signal to Buy?

For those who have read my past blogs, you know by now that I like to explore the road less traveled and have a contrarian streak.  My kids also know this.  I often tell them, “don’t be a sheep.”  When I hear people talk about market outcomes as if they are self-evident, I feel the … More Consensus Points to Slower Growth – Is This a Signal to Buy?

10 Rules / Thoughts to Consider

I hope this finds everyone having had a great Summer.  All has been well at SJM Fiduciary and with SJM (Susan, Jack and Meghan).  I have been taking the opportunity over the past few months to visit with clients and key members of the community, grow the business and increase resources and, yes, take some … More 10 Rules / Thoughts to Consider