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William “Bill” Bengen, whose 1994 study introduced the concept of the 4% withdrawal rate for retirees, recently participated in a question and answer session on social media website Reddit. The conversation focused on retirement withdrawal strategies and portfolio allocation....

While working on a new presentation about portfolio strategies, it occurred to me that there is an important question I should address: What investments does an individual investor need in their portfolio? Not specific names, but rather what types of investments. It’s a question...

A study showing that most stocks have failed to outperform one-month Treasury bills has been the topic of some discussion this year. The analysis, conducted by Arizona State University finance professor Hendrick Bessembinder, found that slightly more than four out of seven stocks...

Two special notes before I start this week’s commentary. First, L’Shanah Tovah to those of you celebrating Rosh Hashanah. Second, though our Investor Conference is getting close to selling out, there is still time to register. You will want to hurry because late fee pricing...

The big questions on many people’s minds right now is what to do about the Equifax breach. Sensitive personal information—including Social Security numbers and birthdates—on 143 million consumers was stolen. The situation is still evolving, but Equifax is offering “free...

Under most circumstances, an investor offered an asset worth $432 would refuse to pay $800 for it. Such a premium is difficult to justify, especially for an asset with a transparent, easily determinable value. Yet when mania is mixed with other compounding factors, logic can be...

The time period between when you buy or sell a security and when the trade is settled is about to shrink. Currently, the U.S. operates on a three-day settlement cycle. Effective Tuesday, September 5, 2017, the U.S. will switch to a two-day settlement cycle. The moniker is T+2, which...

Those of you who regularly read my weekly commentary know that I attend conferences and other industry events. (So far this year, I’ve been to two conferences, one four-day seminar and various luncheons and I have even more upcoming events on my calendar.) The presentations are...

Bitcoin rose above the $4,000 price mark, adding to this year’s surge in value. The New York Times attributes the most recent upward spike to an agreement among key backers to settle “a long-disputed update to the network’s software and rules.” Regardless of the reason given,...

Value investing was described as “losing its effectiveness” by The Wall Street Journal on Monday. The article was published approximately two months after Goldman Sachs issued a report entitled, “The Death of Value?” A quick glance at the recent numbers shows why such commentary...