At a silent auction to raise money for one of my favorite charities, I ﬁxated on a piece of art. I loved it. At last, I would have some great art for the blank space in my new living room.
The film Moneyball is about baseball. But it’s equally about the investment strategy that has made the clients at Abacus successful. Billy Beane, the Oakland A’s manager, selected the best players based not on their appeal, but strictly on the numbers.
This summer, my wife and I learned to sail. Our instructor, Ben, told us this amazing story: The ﬁrst time Ben worked on a sailing crew, they were docked in the Dominican Republic when they learned that a major storm was on its way. The captain announced that they were immediately setting out to sea.
To give or not to give allowance, that is the question! While many of us have heard of the one dollar per week per age of the child, a client told me about an alternative way of doing allowance that…
It is with profound sadness that we say goodbye to our long-term colleague, Suzanne Lawrence. She died of cancer on April 27th at 9:30am. Suzanne was a person of great integrity, commitment, and warmth, and a trusted Client Services Associate and Manager of Operations for Abacus for over thirteen years. She taught us how to slow down in this fast world, and deliberated thoroughly before making important decisions.
Investors' fears about an unpredictable future will play a role in the success or failure of their investment experience. Strangely, some of the most successful investors might be those with brain damage, at least according to The Wall Street Journal article "Lessons from the Brain-Damaged Investor."
Corruption, deceit, and greed have contributed to the current economic climate and created fear, uncertainty and doubt for many Americans. This has caused some investors to wonder if the academically supported investment strategies should be altered in light of today's economic challenges.
Over the summer I read The Big Short, by Michael Lewis. It delves into the inner workings of some of Wall Street's most powerful investment ﬁrms and rating agencies, and uncovers the conﬂicts of interest that were largely responsible for the sub-prime meltdown.
When the markets are scary, we tend to hear a particular question, "What are you doing to protect me?" As a wealth management ﬁrm that promotes the idea of "passive" investing, Abacus runs the risk of being perceived as a ﬁrm that does nothing.
Agliophobia, the fear of pain, is in the air. The pain investors felt in 2008 may have diminished somewhat, but in place of that pain is now a fear of having to feel pain again, that we're not out of the woods yet, and that another 2002 or 2008 could be right around the corner.