When I started in the financial services industry in the mid-80s, you really only had two places you could go for financial advice: a stockbroker or an insurance agent. Fast-forward to 2017, and you’ll find an alphabet soup of financial titles, credentials and compensations.
Although it’s year-end, I’m not going to take this opportunity to discuss the historical 2016 investment market performance. We’ll save that for January. Instead I want to comment on one of the most powerful lessons investors can learn from the 2016 presidential election. It is this:
Predicting is NOT investing. (It’s speculating.)
Now, to some supporting statements on that.
Whether you're feeling elated, deflated or mostly just jaded about what just happened in the U.S. elections, we wanted to reach out to you with a few thoughts related to the "What's next?" that may be on your mind.
To say the least, there are more than enough political analyses available from even a single Google search, so we won't enter into that fray ourselves. If you don't yet have your own preferred informational source, we find that RealClearPolitics.com offers a relatively objective, bipartisan presentation of the news on that front.
It’s no surprise that this year’s U.S. presidential race has become a subject of conversation around the globe. In “Why Our Social Feeds are Full of Politics,” Canadian digital marketing executive Tara Hunt observes, “American politics, it seems, makes for high-intensity emotions far and wide.” The intensity will probably only increase as the November 8 election date nears.
Though tax policies haven't received top billing in this year's presidential election dialogue, they're still part of the conversation. Here's a quick review of each candidate's tax proposals based on information released by their campaigns. Keep in mind that regardless of who wins in November, any changes to tax policy would require congressional action.
On August 8, 2016, Donald Trump announced a revised tax plan. Full details of the new plan were not immediately available on the campaign's website. The following summary is based on the original plan announced by the Trump campaign and what we currently know about the revised plan.
In the face of political drama at home and abroad, it’s certainly been a summer for trying our patience, hasn’t it? For anyone who has ever been a parent or a child – that is, for everyone – there are several comparisons we can draw between good parenting and good wealth management. For both, plenty of patience is one of the most important qualities to embrace.
From robotic arms to robotic bees (as featured in this 2014 National Geographic piece), the future looks bright for new and potentially improved ways to enhance our lives with robotics. Lately, “robo-advisors” have been capturing the fancy of the financial press, promising to take over investment decisions that have traditionally demanded human intervention.
Believe me, we get it. After yesterday’s Brexit referendum and its startling outcome, it’s hard to view today’s news without feeling your stomach twist over what in the world is going on. Whenever the markets scream bloody murder, your instincts deliver a sense of unrest ranging from discontent to desperation.
One of the reasons we turn to evidence-based investing is to guide us past the misguided strategies that can otherwise cause an investor’s expected returns to run aground. That said, there is a lot of “evidence” out there. How do we determine which of it comes from sound science and which may steer you wrong?