Behavioral Finance

2014 Minnesota Renaissance Festival

The Return of Volatility

Our current seasonal transition from summer into fall feels almost symbolic of the current trend in financial markets from tranquil to volatile, as global news made for some interesting headlines throughout the summer. New threats of war, the emergence of Ebola, slow economic growth abroad, and the end of QE have brought pause to the […]

Approximately Right vs. Precisely Wrong in Financial Planning

The second president of the United States, John Adams, made a prediction years ago in a letter to his wife: “The second day of July, 1776, will be the most memorable epoch in the history of America. I am apt to believe that it will be celebrated by succeeding generations as the great anniversary festival…It […]

Investing: Are You a Hunter or a Farmer?

“I consider myself to be a farmer—not a hunter. And I think most people on Wall Street are hunters. They like to fell big beasts and I’m very comfortable planting a few rows and just tending to them carefully.” – Tom Russo, Gardner, Russo & Gardner Investing is often referred to as a game, or […]

All Wealth is Relative

A recent article on CNN Money cited that “a whopping 70% of those with at least $1 million in assets that are invested or available to invest, excluding home values, don’t consider themselves to be wealthy…it’s only when they hit the $5 million mark that millionaires begin to feel ‘wealthy.’” I would submit that our feelings of wealth are […]