Institutional White Papers

When you hire a financial advisor, sign up for a 401(k) at work, or otherwise get started with a new investment plan, one of the...

Economic growth has been kind of weird lately. We’ve just lived through the greatest economic crash followed by the strongest recovery on record. US Real...

It’s 2020! We’re officially living in the future! And if retro sci-fi stories are any guide, that means abundant, clean, cheap energy for everyone. In...

In my last post, I gave my two cents on the old investing debate of whether real estate or the stock market is the better...

When we as financial advisors talk with investors about the virtues of diversification, asset allocation, and long-term investing, a question that often comes up is,...

A couple months ago, I wrote about the dangers of levered ETFs, showing how these products designed to juice investor’s returns end up eroding capital...

Suppose I offer you a bet. Flip a coin, heads you lose your entire bet, tails you win it back plus one and a half...

This month, the financial press has been abuzz with the latest case study in Wall Street’s storied history of feeding speculative frenzies: the quadruple-levered ETF....

Investors, being human, are not always perfectly rational, but sometimes make decisions that are influenced by their emotions or cognitive biases, which can effect market...

Imagine an alien race with no concept of money was observing the earth from afar, trying to understand us humans. What might they say about...

It’s 2016, extreme poverty is on the verge of disappearing from the earth, private companies are planning manned flights to Mars, you’re probably reading this...

In this series, I have been arguing that differences between investors – such as the differences in their willingness to use leverage, their susceptibility to...