Advising Ourselves (Part 1)

By |2017-07-17T12:34:19+00:00April 3rd, 2014|Global Market Update|

Psst: want a quick stock tip? Lots of people have asked me for a quick tip. It’s a natural reaction people have when they hear that I help people manage their money. After all, if you could find the next 10-bagger before it goes parabolic, you could spin the straw of your savings account into retirement gold. Or so the thinking goes. But investing isn’t like that. It’s not about getting lucky in the market. When we invest, we put our money to work [...]

Liar’s Markets (Part 2)

By |2014-04-02T09:35:45+00:00April 2nd, 2014|Global Market Update|

Is the stock market rigged? In some ways, yes. There will always be people with more information. There will always be people with faster data lines. There will always be people who can react quicker. That doesn’t mean the market is rigged. It means that it’s a market. Economists like to talk about asymmetric information. That’s when two parties negotiate a price, but one of them knows more than the other. Used cars are a great example. The owner of the car knows how [...]

Liar’s Markets

By |2014-04-01T09:15:28+00:00April 1st, 2014|Global Market Update|

Is the stock market rigged? That’s what Michael Lewis, author of Liar’s Poker and other financial books. My first thought was, “Well, he ought to know.” After all, Lewis breezily confessed to “blowing up” accounts and other financial shenanigans during his brief career as a bond salesman. But Lewis’s needs to be taken seriously. He’s a good writer, and his popular treatments of financial issues are always news. His new book, Flash Boys, explores the world of high-speed trading. He points out that some [...]