How did 2017 Winners and Losers do in 2018?

The top 10 2017 winners from the S&P500 were up at least 80%. In 2018, thru 11/1/2018, the same group is only up 1.1%.

The worst 10 S&P500 stocks from last year, down an average of 40% in 2017, are up a combined 14.7% in 2018 YTD.

Active vs. Passive. The Illusory Debate

Every time I read about the “active vs. passive debate” I can feel my blood pressure go up.

There is no “debate”.  The only people perpetuating this myth are those who make a living touting active management and those who don’t know the facts.

Simple 60-40 Portfolio Beats All Ivy League Endowments over 10 years

A new report shows that the complex and expensive endowment model hasn’t proved its worth since the financial crisis.

2018's Most Spineless Board of Directors

Someone had to finally say the video

IRS Announces 2019 Retirement Plan Limits

The Internal Revenue Service has announced cost-of-living adjustments for 2019, which affect dollar limitations for retirement plans and other retirement-related values. Almost all limits increased from 2018 to 2019. 

The 2019 limits are as follows:

401(k) Deferral Limit – Increase from $18,500 to $19,000

Bad Times for Active Stock Pickers

Almost no active managed funds have beaten the market/their benchmarks over the past 15 years.

NYSE New Highs at Rare Levels - less than 10%

SUMMARY - in the very rare occurrence that less than 10% of NYSE stocks are making new highs, after-the-fact analysis shows these are likely markers of market bottoms. Subsequently, the broad market as followed with rebounds of 10% to 33% about 80% of the time.

The Happiness Equation

To say that “money isn’t everything” is more than a cliché. Studies in the early 1970s demonstrated that a sense of well-being, or happiness, had not increased commensurately with income over the previous half century.1

Talking Risk: Emotion vs. Data

We tend to base our assessment of risk on emotions (how we feel about it), and then rationalize (or try to) that we have done so using objective data.

Our Reactions

Tuning Out The Noise

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