Still Crazy After All These Years

By | December 6th, 2016|Advisor Insights|

In case it’s not on your calendar, today marks the twentieth anniversary of Alan Greenspan’s famous “irrational exuberance” speech. Legend holds that the Fed chairman, who was thought to be around 120 years old at the time, came up with the term one morning while writing a speech in his bathtub. Good luck getting that [...]

To Bespoke Or Not To Bespoke

By | November 21st, 2016|Advisor Insights|

That, as one old market watcher might have suggested, is the question. As we contemplate the condition of today’s market, “collateralized debt obligations” must surely give us pause. Among the industry’s most mysterious inventions, CDOs are structured financial products that allow dealers to pool cash flow-generating assets and repackage them into discrete tranches with varying [...]

Can’t Hardly Weight

By | November 8th, 2016|Advisor Insights|

It was 1884 when journalist Charles Dow and his statistician buddy Edward Jones published their first stock average – what we now call the Dow Jones Transportation Average – in the Customer's Afternoon Letter – what we now know as The Wall Street Journal. Two years later, the boys calculated their first average purely of [...]

Closed Minded

By | October 26th, 2016|Advisor Insights|

A couple of things we just learned from the Closed End Fund Association: One, there’s such a thing as the Closed End Fund Association. Two, closed-end funds have been around in the U.S. since 1893 – some 30 years before open-end funds made the scene in the 1920’s bull market. Who’d have thought? Unlike traditional [...]

Forced Retirement

By | October 12th, 2016|Advisor Insights|

It was a bit hard to hear over the roar last Thursday when Merrill Lynch told its 14,000 brokers they were likely out of the retirement advice business. Indeed, whether anyone outside of the Thundering Herd heard it or not, what is now the Bank of America’s brokerage unit announced it was abandoning the traditional [...]

Catch A Falling Star…

By | September 27th, 2016|Advisor Insights|

And put it in your pocket You’ll remember Tom Marsico. He earned a good degree of fame for his stock-picking prowess at Janus Capital back in the 90s. Fame was so bright, in fact, he bolted from Cherry Creek in 1997 to launch his own shop, Marsico Capital, in downtown Denver. Just three years later [...]

Wall Street Journal Feature

By | September 16th, 2016|WSJ Feature|

Article as seen in the North Texas Premier Financial Advisors publication, a special advertising supplement to the Wall Street Journal If the notion of having access to institutional-quality asset management sounds appealing, read on. Fund Architects was founded to provide investors dynamic investment portfolios designed to capitalize on constantly shifting global markets. “We could see [...]

A Thought For Your Pennies

By | September 13th, 2016|Advisor Insights|

Ever wonder why Congress has an approval rating of 13%? Don’t. By all appearance the number is between 12 and 14 points too high. To wit: The U.S. House actually passed a bill last Thursday that would actually allow the nation’s smallest public companies to offer stock without getting approval from the SEC. The nation’s [...]

Calm Before the Storm?

By | August 31st, 2016|Advisor Insights|

Any idea what the “Greenspan Put” might be? No? Well here are a couple of hints: Greenspan refers to a rather loquacious former Fed Chief named Alan; "put" refers to contractual obligation giving its holder the right to sell an asset at a particular price. So what do you get when you put the two [...]

No Legg to Stand On

By | August 17th, 2016|Advisor Insights|

There’s not that many long-running relationships on Wall Street to begin with, and now there’s one less. Last week, Bill Miller, the Legg Mason manager made famous by beating the S&P 500 from 1991 to 2005, is leaving the Baltimore-based money firm after 35 years. The breakup is somewhat anticlimactic, of course, since Miller’s good [...]