2018’s Active Vs. Index Scorecard

New report, same old story. Larry Swedroe unpacks highlights from the most recent SPIVA scorecard that offer still more powerful evidence of active management’s continued failure to persistently outperform. Since 2002, S&P Dow Jones Indices has published its S&P Indices Versus Active (SPIVA) Scorecard, which compares the performance of actively managed equity mutual funds to…

InFocus March 2019

InFocus:  Retirement View

In financial services, retirement, ironically, is the topic that never gets old. But there is good reason for that—it’s an inevitable financial milestone for us one way or the other. How we look at retirement may have everything to do with how successful we are at planning for it AND enjoying it when the time…


The Basics of a Spend-Down Strategy

For a more secure retirement, think larger than simply trying to pay the least amount in taxes each year. Wealth Advisor Bill Morgan outlines the process for building an overarching spend-down strategy designed to minimize taxes over a lifetime. Almost every client we talk with emphasizes one primary, overriding goal: having enough money in retirement….


Tale Of 2 Stock Markets

There is clear evidence the political climate affects investors’ views of the economy and the stock market. Larry Swedroe encourages investors to separate political affiliations from investment decisions. The fourth quarter of 2018 was a pretty miserable one for investors, with the S&P 500 Index losing 13.5%. And it was looking a lot worse on…


Financial Advisors: Are You An Explainer, Elucidator Or Enchanter?

Not all financial planning—or financial planners—are equal. Tim Maurer explores how you can go beyond just sharing knowledge with your clients to truly inspire understanding and wisdom. Not all financial planning—or financial planners—are equal. The Certified Financial Planner™ Board has done much to standardize a substantive base level of knowledge for aspiring advisors. But the value of…


A Tale Of 3 Small Value Funds

There can be large differences in passively managed funds, even those within the same asset class. Larry Swedroe looks at 3 small value funds and shows how their performance is explained by exposure to factors-asset pricing models. Index funds and structured passive asset class funds are similar in the way that rectangles and squares are…


2018 Report Card For Hedge Funds

How did hedge funds fare in 2018? Larry Swedroe takes a look at the mixed results across asset classes and shows why market efficiency has won again. Hedge funds entered 2019 coming off their ninth-straight year of trailing U.S. stocks (as measured by the S&P 500 Index) by significant margins. And for the 10-year period…


Do Surprises Really Move Markets?

Prices will not change if the expected happens. It is the unexpected that causes prices to move. Larry Swedroe shares some examples where good news has led to bad results and vice versa.                 French economist Louis Bachelier long ago remarked: “Clearly the price considered most likely by…


3 Factor Investing Myths

Many consider factor-based investment strategies to be highly complex, more expensive, and ones that provide negative returns over long periods. Larry Swedroe digs into the myths and provides guidance for those worried about how they could affect their overall portfolio.                 As the chief research officer for Buckingham…


When Value Performs Poorly

For investors who have experienced these poor recent results, a natural question is how value stocks have tended to perform relative to growth after periods of poor performance. Jared Kizer examines the data and shares his insights to help investors see the bigger picture. In the U.S. stock market over roughly the last 10 years,…


Retirement Tips for a Long Lifetime

Women face all the same issues that men face in retirement, plus they have additional complicating factors. Larry Swedroe and Katie Keary address these factors and offer tips to help even the scales. Find it on By clicking on any of the links above, you acknowledge that they are solely for your convenience, and…


Yet More Investing Lessons from 2018

In the third and final installment of his annual look at what the markets taught investors over the prior year about prudent investment strategy, Larry Swedroe concludes his list with 2018’s lessons eight through 11. Every year, the markets provide us with lessons on the prudent investment strategy. I’ve so far covered what they taught…

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