Weber Speaks
They Swing for the Fences… and Strike Out
Posted on July 14, 2011
Filed Under 401K, Investment Strategy, Investor Mistakes, Mutual Funds, Personal InvestingDo you know the names Bruce Berkowitz, Kenneth Heebner or Bill Miller? Unless you’re a mutual fund geek, you don’t. But to people like me who live in that world, those gentlemen are stars in the fund manager universe. Each has been singled out, over the years, for posting some pretty spectacular performance numbers. Which [...]
Be Like Roger
Posted on June 22, 2011
Filed Under Investment Strategy, Investor Mistakes, Mutual Funds, Personal InvestingThe Wall Street Journal recently ran a story on tennis great Roger Federer. It included insight into his phenomenal success on the tennis court, and interestingly, much of what Roger said in the sidebar story echoes the investment philosophy I try to instill in our clients. It starts off by saying: He hardly ever gets [...]
How to Beat The Market. Sort Of.
Posted on June 8, 2011
Filed Under Investor Mistakes, Mutual Funds, Personal Investing, The Economic SceneSome of our peers in the financial industry have found a way to advertise that they “beat the market” without actually doing so. On 6/4/11, Wall Street Journal columnist Jason Zweig wrote an eye-opening piece about this topic. Basically, he explained how some investment advisors make their track record look good by comparing their results [...]
Index Funds for Safety?
Posted on May 18, 2011
Filed Under 401K, Investor Mistakes, Mutual Funds, Personal Investing, The Economic SceneIn general, financial journalists at the major newspapers do a decent job. In general. But every once in a while they come to a misguided conclusion. Ron Lieber, in his New York Times column of 5/13/11, made a case that index funds should be on the menu of all 401(k) plans. Most plans do not [...]
Your Performance May Vary
Posted on April 27, 2011
Filed Under Investor Mistakes, Mutual Funds, Personal InvestingThe April 18, 2011 issue of Barron’s has a story about America’s Top 100 Financial Advisors. How are those elite few chosen? The article tells us, “Our ranking is based on each advisor’s assets under management, revenue generated for his or her firm, and the quality of the practice.” Wait. Did I read that right? [...]
The Big Dangers of Small Print
Posted on April 7, 2011
Filed Under Investor Mistakes, Mutual Funds, Personal Investing, The Economic SceneCan the economic collapse of 2008-09 be blamed on small print? I think the evidence supports that idea. In October 2008, as the Great Recession was in full bloom, CBS’s 60 Minutes went searching for the causes of the calamity. They reported, among other things, that deep within the swirling mortgage mess were credit default [...]
Earthquakes, Tsunamis, Radiation
Posted on March 29, 2011
Filed Under Mutual Funds, Personal Investing, The Economic Scene(This was originally posted 3/18/11; a software glitch requires that this be re-posted.) The heart-wrenching and volatile situation in Japan has rattled the world’s stock markets. Daily headlines right now seem to exert greater influence on stock prices than the underlying fundamentals. Wild swings have become the norm, at least in the short term. In [...]
READ THIS OR DIE! (The Truth Behind Scary Headlines)
Posted on March 10, 2011
Filed Under Investor Mistakes, Mutual Funds, Personal InvestingNot long ago a client forwarded me a solicitation email which contained dire predictions about the financial world. He was truly concerned, writing, “It is very uncomfortable to read stuff like this.” I wrote back, “Then why do you read crap like that?” First, this client and I have a long and friendly relationship, so [...]
Will Brokers Ever Change?
Posted on February 4, 2011
Filed Under Investor Mistakes, Mutual Funds, Personal InvestingIn my blog post of 12/8/10, “Fiduciary: Answering to a Higher Standard,” I pointed out how Registered Investment Advisors must adhere to tougher rules than stock brokers and some other financial professionals. Recently, my concerns were reinforced. On 1/24/11, the National Association of Insurance and Financial Advisors wrote: “NAIFA’s fundamental concern is that the potential [...]
20/20 Hindsight
Posted on January 18, 2011
Filed Under Mutual Funds, Personal Investing, The Economic Scene“You should have seen it coming!” Of all the things clients have said to me over the years, that one phrase stings most. In particular, I remember when it was said by one woman, a long term client. I was attending a financial conference; my staff had called my cell phone with the message that [...]
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