The Seller’s Dilemma

By | October 3rd, 2018|Advisor Insights, News|

By William Davis  Story goes that in 1901, Andrew Carnegie sold at once his entire steel empire to J.P. Morgan Jr. (his friends called him Jack, by the way) for a cool $480 million – a sum the Scotsman had scribbled on a piece of paper for the banker’s consideration. It’s [...]

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O Brothers, Where Art Thou?

By | September 17th, 2018|Advisor Insights, News|

By William Davis  Or “DAMN! WE'RE IN A TIGHT SPOT!” On an epic Monday morning ten years ago, Lehman Brothers, until the moment one of Wall Street’s most intrepid investment banks, crashed itself into the rocks. Sinking under the weight of more than $600 billion in debt and a boatload of [...]

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It Takes a Village

By | September 4th, 2018|Advisor Insights, News|

By William Davis  According to a loose consensus, and by loose we mean a Thesaurus-full of synonyms for arbitrary, bull markets are ongoing rallies that run to a cumulative 20 percent gain without falling 20 percent along the way. A random definition, to be sure, but once the tradition bell rings [...]

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No Jack, All Beanstalk

By | August 23rd, 2018|Advisor Insights, News|

By William Davis  In the capital markets, “price discovery” is, by definition, the process of setting the proper value of a security. Around the exchanges, investors most times consider factors like supply and demand, current risk attitudes, and the overall economic and geopolitical environment to determine what things are worth. [...]

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A Number Like 10 to the 12th Power

By | August 9th, 2018|Advisor Insights, News|

By William Davis  In the world of big mathematics, “googol” was conceived as a way to represent the large number 10 100, or 10 to the 100th power. In decimal notation, a googol is written as the digit 1 followed by one hundred zeroes (a million, don’t forget, has six). [...]

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Be Afraid

By | July 24th, 2018|Advisor Insights, News|

By William Davis  It’s been a while – a little over 30 years actually – since Ronald Reagan gave us this one: “The nine most terrifying words in the English language are ‘I'm from the government and I'm here to help.’" The President, of course, was referring to the idea [...]

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(Another) Great Moment in ETF History

By | July 10th, 2018|Advisor Insights, News|

By William Davis  The best-recognized and oldest ETF in the universe tracks, simply enough, the massively popular S&P 500. The fund’s AUM, we hear, hovers around a million bazillion dollars. Then, there’s the wildly successful offering that effortlessly follows the MSCI EAFE index, which represents all the major developed markets [...]

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Not-So-Special Effects

By | July 3rd, 2018|Advisor Insights, News|

Losses Influence A Portfolio Disproportionately More Than Gains William Davis and Daniel Snover Successful investors will tell you they probably think more about losing money than they do making money. Not that they’re ignoring the hard task of finding winners. They are not. The goal, after all, of anyone [...]

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All Point, No Power

By | June 28th, 2018|Advisor Insights, News|

All Point, No Power By William Davis   Story goes that Jeffrey Immelt, the longtime boss at General Electric, was a particularly polished presenter. Why, just last year the world’s most successful lightbulb salesman wowed the Wall Street crowd with his pitch at GE’s annual drink-‘em-up off the coast of Sarasota. “This is a [...]

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The Italian Job

By | June 5th, 2018|Advisor Insights, News|

By William Davis   THE ITALIAN JOB   Handsome Rob: “Where do we want it to go? We can't have a shoot up without guns. We'd lose.” Charlie Croker: “We do it like the Italian job.” Start with the art works of Botticelli, da Vinci, and Michelangelo, the operas of Verdi and [...]

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