Investment Philosophy

With so much evidence against the use of forecasts, why do investors waste their time listening to them? Maybe the best investors don’t.

A large business exists on the premise that advisors can select the best of the best. The big question is whether “selectors” are good at “selecting.”

Just one mistake in the measurement of your ingredients and your bread can wind up with no bread-like qualities at all. Investing can be the same.

How many times did the Wall Street consensus predict a market drop? "A spectacular zero."

Simple portfolios continue to consistently outperform top endowments.

It’s not enough to follow someone’s advice to invest in index funds. Actual passivity contradicts the trustee’s duty to act as a prudent fiduciary. Passive investment products are potentially as complex as any other, and prudence demands careful evaluation.