Carl Richards is a fellow financial planner whose notoriously creative napkin sketch drawings help simplify complex personal finance concepts. Richards, also known as "the sketch guy," has been penning columns for the New York Times for a decade, and is the author of two books, The Behavior Gap and The One-Page Financial Plan. In Your 5-Step Guide to Navigating a Scary Stock Market, Richards provides useful and timely advice for us all by highlighting a number of key sketches. He does a ... [Continue Reading]
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Robert Merton has a long list of accomplishments, among them the most prominent is his award of the 1997 Nobel Prize in Economic Sciences for his work on the Black-Scholes-Merton model on derivatives. This work was fundamental in understanding how financial markets should price in risk and uncertainty in options markets. In a recent webcast, Dimensional Co-CEO and Chief Investment Officer Gerard O’Reilly engaged with Professor Merton on a number of subjects relating to risk, uncertainty, and ... [Continue Reading]
As markets wait to hear the details of an upcoming Federal Government stimulus bill, the Federal Reserve has been regularly announcing steps it is taking to ensure market liquidity. A recent piece from the Council on Foreign Relations describes the various steps that have been taken, as well as further steps that the Federal Reserve can take if necessary. ... [Continue Reading]
The market is digesting a large volume of new information, spanning from coronavirus and continuing trade war negotiations to a second inversion of the yield curve and, of course, an upcoming presidential election. Vanguard’s recent "Market Perspectives" touches on a number of these issues. While each issue is important for investors to be aware of, it's also important to remember that the market is constantly incorporating new information into stock prices, as well as expectations for ... [Continue Reading]
Both Dimensional Fund Advisors and Vanguard have published their 2019 stewardship reports for investors. These reports focus on the money managers' duties, responsibilities, and actions in the corporate governance area, including board composition, executive pay, and environmental and social concerns. We want to highlight the availability of these reports and are happy to discuss them with you in more detail if this is of interest. Read them here:DFA 2019 Annual Stewardship ... [Continue Reading]