David Swensen, the longtime investment manager of Yale’s endowed assets, passed away this week after a long battle with cancer. Swensen pioneered the endowment method of investing, aligning the unique characteristics of endowed assets with strategies that deliver superior growth over time. Although his methods and strategies aren’t well suited for individual investors, his approach has been adopted by most endowment, foundation, and pension fund managers around the world. NPR compiled an ... [Continue Reading]
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We often talk with clients about a concept called the "Wealth Equation," a formula we custom-created at CCM. The formula is paired with a process we encourage clients to apply in guiding them through identifying and accomplishing what is most important to them. Applying the Wealth Equation often results in meaningful conversations about life, legacy, priorities, and making a lasting difference in the lives of those who are most important to us. Our recommended reading today comes from Forbes, ... [Continue Reading]
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]
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]