ACTIONABLE ADVICE FOR FINANCIAL ADVISORS: Newsletters and Commentaries Focused on Investment Strategy

Articles 2009

Vol 3 no 1 (January 6, 2009)

Bruce Berkowitz: "Prices today are as attractive as I have seen in my career"
Due Diligence from a Distance
Changes in Asset Allocations during the Fourth Quarter of 2008
Letters to the Editor: In Defense of "Faux Planners"
John Robinson's Response
Perspectives on 2008 and Beyond
Dear Mr. Ex-KGB
Letter to the Editor - Getting All the Pieces of the Puzzle

Vol 3 no 2 (January 13, 2009)

Brian Wesbury of First Trust Advisors: The Market is Significantly Undervalued
The Credit Crisis and Repricing of Risk, 15 Months Later
69 Reasons Why You Shouldn't Invest in Stadium Naming Deals
Breakfast of Charlatans
Fundamental Indexing: A Verbal Optical Illusion
Fundamental Indexing: Breakthrough or Old Idea in New Marketing Garb?
Index Alert: Beware the Distortions Wreaked by the Crisis

Vol 3 no 3 (January 20, 2009)

Our 2009 Forecast for the Economy and the Markets
David Swensen Speaks Out: Are Hedge Funds of Funds a Cancer?
Rational Advice for Anxious Participants
What to Say When You've Said It All
Tom Au: We Speak Again with Someone Who Foresaw the Collapse in 2008
Greg Valliere: The Economy will Grow in the Second Half of 2009
Making Sense of the Dollar: The U.S. Will Lead the World Again

Vol 3 no 4 (January 27, 2009)

Roubini:  Bank Write-offs are at the Halfway Point
Twelve Pieces of Good News in the Gloom
Can Andrew Lo Legitimize Technical Analysis?
Jeff Gundlach: A Survey of the US Capital Markets
How to Think about Investment Risk
An Opportunity for Monetary Reform
Risk Management or Risk Manipulation

Vol 3 no 5 (February 3, 2009)

Carmen Reinhart on Lessons from Past Financial Crises
Rob Arnott Defends Fundamental Indexing
Twelve Tips for Motivation in 2009
Volatility as an Asset Class
How to Think about Investing
Unlocking the Housing Market Recovery

Vol 3 no 6 (February 10, 2009)

Mark Zandi: I am an Optimist
2009 Municipal Bond Market Outlook
Son of Sub-Prime: Another Wave of Defaults
Three Myths of Market Underperformance
Response to Rob Arnott's Defense of Fundamental Indexing
How to Think about Investment Returns
Changes in the Most Popular Mutual Funds

Vol 3 no 7 (February 17, 2009)

Value in the Municipal Bond Market
The Changing Financial Landscape: Potential Implications for the Banking Industry
Zvi Bodie on the Future of Retirement Products
A Five-part Conversation to Rebuild Market Confidence
James Grant: A Positive Lesson from the Great Depression
Rob Arnott's Rebuttal to Michael Edesess
Q4 2008 Performance among the Most Popular Mutual Funds in the Advisor Perspectives Universe
Letter to the Editor: In Defense of Technical Analysis

Vol 3 no 8 (February 24, 2009)

The Case for the All-Bond Portfolio
Who You Know Counts:  Social Networks and Stock Returns
Finding the Lessons of Japan's Lost Decade
Ron Rogé on the Banker and the Fisherman
The Mean Reversion Air Ball: Beware of Head-Fake Rallies
Don't Give Up on the World's BRICs
Michael Edesess' "Last Word" to Rob Arnott on Fundamental Indexing
Letter to the Editor:  Zvi Bodie's Retirement Solution

Vol 3 no 9 (March 3, 2009)

Why Diversification is Failing
Cleaning the Banking System's Toxic Waste Dumps
Talking to Prospects about Last Year's Performance
The Difference between Measuring and Managing Investment Results
Letters to the Editor: Reactions to the All-Bond Portfolio and to Legitimizing Technical Analysis
Bonds Are Just Misunderstood
Active Management: Not a Silver Bullet, but Better than 'Buy-and-Hope'
Improving on Buy and Hold: Tactical Asset Allocation

Vol 3 no 10 (March 10, 2009)

Growth in China's Year of the Ox and Beyond
Asset Allocation Perspective: A Time of Tremendous Challenges and Opportunities
Trends in the Asset Management Industry
Jeremy Siegel is Brilliant, Uplifting and Just Plain Wrong!
Five Steps to High Impact Client Meetings
Editorial: The End Game of the Auto Bailouts - The USMS
Casting No Stones
Letters to the Editor: Why Diversification is Failing

Vol 3 no 11 (March 17, 2009)

Junk is Still a Four Letter Word
Target-Date Funds Survey Raises Questions for Plan Sponsors and Participants
Alan Greenspan Abducted By Aliens
The End of Prospecting
A Modest Proposal for Wealth Managers: First Do No Harm
The Target Date Emperor Has No Clothes
Casting Stones
Warren Buffett's Asset Allocation

Vol 3 no 12 (March 24, 2009)

Reality Bites
Gundlach Says Market is "Too Bearish"
Becoming the Fall Back Advisor for High End Prospects
Lessons from Madoff
A Better Balanced Benchmark
Referral Marketing with LinkedIn
Letters to the Editor - Why Diversification is Failing

Vol 3 no 13 (March 31, 2009)

Inside the Harvard Management Company
The Market Valuation Q-uestion
Responses to A Safer Four Percent Withdrawal Rule
Glass Houses?  An Open Letter to Bob Veres
How to Consolidate Client Assets
Touch Your Clients 24 Times a Year without Breaking a Sweat
Risk Control for Advisors
Casting Stones, Part II
Letter to the Editor: Why Diversification is Failing

Vol 3 no 14 (April 7, 2009)

Au revoir Jean-Marie Eveillard: A Final Interview
Whitman and Eveillard on Value Investing
The Credit Crisis and Repricing of Risk, 2007-2009
The Building Blocks of the Next Bull Market
The Pendulum Never Stops...
Hope Glimmers in the Stock Markets
The $3,000 Marketing Plan
Letter to the Editor: Re Clark M. Blackman's letter to Bob Veres
Editorial: An Advance Copy of Obama's Speech on June 1, 2009

Vol 3 no 15 (April 14, 2009)

Woody Brock: When Everything is Up for Grabs
A Primer on Equity Income’s Use of Convertible Securities
Paul McCulley: The Reverse Minsky Journey and the Way Back
Man Up!
Lessons from the Loss of a Multi-Million Dollar Account
The Custody Conundrum
A Long-Short Approach to Investing
Letters to the Editor: Clark Blackman responds to Ken Solow

Vol 3 no 16 (April 21, 2009)

Bonds for the Long Run? Not Quite Yet
Challenging Times Still Ahead: Outlook for the Current Recession and Bear Market
Overcoming a Key Barrier to Moving Accounts
Twitter Your Way to New Clients, Part One
A Tale of Two Depressions
On-line Public Relations and the Blogosphere
The Investment Manager Performance Horserace is Rigged

Vol 3 no 17 (April 28, 2009)

Gary Shilling – Economic Forecast and Current Market Opportunities
American Century Equity Income: A Fund for All Seasons
Active versus Passive Management in Bear Markets
Forecasting 100 Years Ahead
Structuring Your Day for Maximum Productivity
The Next Great Bubble?
Twitter Your Way to New Clients, Part Two

Vol 3 no 18 (May 5, 2009)

Defending Against Inflation: A New Look across Asset Classes
Active versus Passive: Readers Respond
A Prospecting Tip from Barack Obama
A Critique of Our Article "A Safer Four Percent Withdrawal Rule"
Reform and the Intellectual Chasm
Three Tips for Going Local with Search Engine Optimization

Vol 3 no 19 (May 12, 2009)

A Look Inside the Commercial Real Estate Market
Sustainability, Actually: What Today's Consumer Wants and What It Means for Advisors
The Well-Meaning
Lessons from Winning Athletes
A Response to "Odds on Imperfection: Monte Carlo Simulation"
Social Media Marketing for the Everyday Advisor
Advisor Perspectives: Our Two-Year Anniversary

Vol 3 no 20 (May 19, 2009)

Opportunities and Risks in TIPS
How Multifaceted Credit Research Can Enhance Returns and Effectively Price Risk
David Swensen's Ascent
Waiting for the Fifth Wave
Turning Corporate Downsizing into Prospecting Success
Here Come the Brides
Five Ways to Cultivate Professional Referral Relationships

Vol 3 no 21 (May 26, 2009)

Dan Fuss and the Eisenhower Recession Redux
Taking Tax Advantage of Municipal Bonds
The Importance of Being Active
TIPS - When a Discount is Really a Premium
What the "Missing Out" Argument Misses
Developing an Optimistic Outlook
Risk Control along the Glide Path
The Big Issues Facing the Hedge Fund Industry

Vol 3 no 22 (June 2, 2009)

Jeremy Grantham's Warnings to Investors
Helping Advisors Grow
Market Perspectives from Janus' Seven Global Sector Teams
John Bogle and the Lantern on the Stern
Building Personal Connections with Clients
Letters to the Editor - What the "Missing Out" Argument Misses
Are Advisors Prepared for the Future?

Vol 3 no 23 (June 9, 2009)

Simon Johnson on Obama’s Achilles Heel
Calamos Equity Valuation Process: Determining Cash Flows & Valuing a Business
Bill Gross and the New Normal
Nassim Nicholas Taleb’s Prescription for a Black Swan-Proof Economy
Let’s Talk Stocks: Berkowitz, Marsico and Weitz
Jeff Gundlach: The Party is Over
Thirty Seconds to Better Client Conversations
Changes in Asset Allocation
Changes in the Most Popular Mutual Funds
Q1 2009 Performance among the Most Popular Mutual Funds in the Advisor Perspectives Universe
Letter to the Editor – Jeremy Grantham

Vol 3 no 24 (June 16, 2009)

Seth Klarman: Why Most Investment Managers Have It Backwards
New Target-Date Fund Research from Janus
High Yield Bonds – A Potential Opportunity for the Risk Tolerant
Peter L. Bernstein Remembered
Moving Average: Holy Grail or Fairy Tale - Part 1
Tackling Today's Number One Client Challenge
What Separates Great from Ordinary CRM Systems
Annual Style Index Reconstitution: Good or Bad?

Vol 3 no 25 (June 23, 2009)

Compelling Evidence That Active Management Really Works
Go Independent
The Road to Zimbabwe
A Mid-Year Letter to Your Clients - Introduction
A Mid-Year Letter to Your Clients - Template
Letters: Moving Average: Holy Grail or Fairy Tale - Part 1
Reach Clients and Prospects Through Their In-Boxes

Vol 3 no 26 (June 30, 2009)

In Search of Unconventional Thinking
Moving Average: Holy Grail or Fairy Tale - Part 2
A Tale of Two Depressions: June 2009 Update
Getting Prospecting into First Gear
Letters: Moving Average: Holy Grail or Fairy Tale - Part 1
Letters to the Editor: The Road to Zimbabwe

Vol 3 no 27 (July 7, 2009)

Marty Whitman:  The Outlook for Distressed Securities
Gary Shilling: Recovery is a Year Away
Burton Malkiel Talks the Random Walk
The Q Ratio Sends a Modestly Bearish Long-Term Signal
The True Cost of Volatility
Riding the Stock Market Wave in the First Half of 2009
Letters: Arnott/Bonds and Unconventional Thinking
Letters: Moving Average: Holy Grail or Fairy Tale Part 2

Vol 3 no 28 (July 14, 2009)

Beyond Grantham:  Politics and Investment Strategy
Signs of Life and Hope for a New Recovery
Behavioral Finance - A Three-Part Model for Client Relationships
Billie Jean, YOU are the One
Three Steps to a Referral Conversation that Works Today
When the Referee Says "Game Over" Too Soon
Letter to the Editor: Tobin's Q Ratio

Vol 3 no 29 (July 21, 2009)

The Retirement Portfolio Showdown: Jeremy Siegel v. Zvi Bodie
Three Easy Steps to Effective Networking
Change or be Changed
SIFMA's Proposed "New Federal Fiduciary Standard": Consumer Protection - or "A Wolf in Sheep's Clothing"?
Taking Care of Compliance
Changes in Asset Allocation
Q2 2009 Performance Among the Most Popular Mutual Funds in the Advisor Perspectives Universe
Changes in the Most Popular Mutual Funds
Letter to the Editor Compelling Evidence that Active Management Really Works

Vol 3 no 30 (July 28, 2009)

How Long is the Long Run?
Moving Average: Holy Grail or Fairy Tale - Part 3
Flaws in the Case Shiller Methodology
Three Powerful Words in Client Conversations
Which Social Media Tool is Right for You?
Letter to the Editor - Beyond Grantham: Politics and Investment Strategy

Vol 3 no 31 August 4, 2009)

Paul Krugman on the Prospects for Recovery
A Wakeup Call for Advisors: Turmoil at the Top of the Market
Uncovering the Mayhem in 2008 in the TIPS Market
How to Think about Return and Risk at the Same Time
Convert Prospects to Clients through Drip Marketing
A New Way to Measure Technology Adoption - Return on Service
Letters to the Editor

Vol 3 no 32 August 11, 2009)

What the New Normal Means for Asset Allocation
The Business You Don't Want: 401(k) Plans
At the Risk of Repeating Ourselves
Behavioral Finance Traps En Route to Investment Success
How to Construct a Marketing Plan and Budget
Letters to the Editor – Paul Krugman

Vol 3 no 33 August 18, 2009)

Actively Managed TIPS?
A Crash Course in Investing: Six Lessons from the Market Meltdown
Turbulence Can Improve Portfolio Diversification
An Alternative Way to Conduct Client Reviews
Beam Me Up Scotty, Vulcans Have Taken Over Planet Finance
Microblogging with Twitter
Letters to the Editor - Paul Krugman

Vol 3 no 34 (August 25, 2009)

Jim Cramer Exposed: Does He Generate Alpha?
Building a Practice in America's Fastest Dying City
The New Normal and Asset Allocation: Merriman's Response
The Case for Optimism
Beating a Dead Dragon
Should Investors Hold More Equities Near Retirement?
Letters to the Editor

Vol 3 no 35 (September 1, 2009)

Politics and Fund Managers
Shiller P/Es and Predicting Returns
Listening for the ECHO in Client Calls
Additional Thoughts on the "New Normal"
Dougal Williams Responds: The Failure of Asset Allocation Funds
The Levers to Financial Freedom
Actively Managed TIPS - A Correction
Letters to the Editor

Vol 3 no 36 (September 8, 2009)

Are REITs Now Undervalued?
Why Credit Matters: Fixed Income Investing in a Changed Landscape
Advisor Survey Shows Best Ways to Business Growth
Tapping into Your Prospect's Hot Buttons
Shiller P/Es and Predicting Returns Some Additional Thoughts
Make the Most of your Networking after the Event
Sell in September? Time for a Reality Check!
Infrastructure Investing
Letters to the Editor

Vol 3 no 37 (September 15, 2009)

Mohammed El-Erian: We Have Not Reached Escape Velocity
Investing Lessons from Golf and Blackjack Players
The 'Cash For Clunkers' Economy
Five Reasons to Avoid the Gold Rush
Theoretical Support for the Moving Average Crossover
Practical Advice for Students Entering University
The Key to Trading and Investing in ETFs
How to Setup a Facebook Business Page

Vol 3 no 38 (September 22, 2009)

Predictably Irrational - How Investors Frame Decisions
Communicating in a Sound Bite World
Will Momentum Move Your Portfolio?
The Financial Market Solution to Carbon Emissions
Disaster Management, The Green Beret and Lamaze Way
Three Ways to Market Your Business Using Facebook
Letter to the Editor

Vol 3 no 39 (September 29, 2009)

Strategic and Tactical Perspectives on Gold
The Case Against Inflation
Turning Intention into Action
Taste Testing Investment Style Sausages
Social Networking is Still Networking
A Tale of Two Investors
Interview: Jeff Mortimer, CIO of Charles Schwab Investment Management
Letters to the Editor

Vol 3 no 40 (October 6, 2009)

Green Shoots and Head Fakes in Housing
Analyst Viewpoints: Market Perspectives from Janus' Seven Global Sector Teams
A Quarter-End Letter to Send Clients
Retailers Face the New Frugality
Tobin's Q Now Bearish Long-Term
Five Marketing Lessons from Schwab IMPACT
So Far so Good: The Decrepit Decade Winds Down
Ten Tips from Advisors Down Under
SpeedReading® People for More Productive Client Relationships

Vol 3 no 41 (October 13, 2009)

Seven Ways to Reach Prospects in the New Normal
Michael Moore - Take This!
Luck vs. Skill in Mutual Fund Alpha Estimates
Work Smart by Building Thinking Time into Your Day
A Tale of Two Depressions: October 2009 Update
Five Secrets to Effective Communication
In Defense of Leveraged and Inverse ETFs

Vol 3 no 42 (October 20, 2009)

Don't be Misled by Morningstar's Box Score Results
Asset Allocation Perspective from American Century Investments
Letters to the Editor: Fama-French and the Active-Passive Debate
Life in and after the NBA: Financial Planning for Professional Athletes
Finance After Auschwitz
Three Ways to Inspire Clients
Advice as Art
Marketing with LinkedIn: Create Your Own Group
Letter to the Editor: Leveraged and Inverse ETFs

Vol 3 no 43 (October 27, 2009)

Managing Downside Risk in Retirement Planning
Leveraged Index Mutual Funds Evolve to Meet Market Needs
Letters to the Editor - Michael Moore - Take This!
Letters to the Editor - Fama-French and the Active-Passive Debate Redux
The Power of Proactive Client Calls
Stay the Course or Plot Another?
Guns N' Leeches
Should You Write Your Own Blog?
The "V" Points Downward

Vol 3 no 44 (November 3, 2009)

Absolutely ... Maybe
The Best Books on Investing
I am a Fiduciary Financial Advisor
Five Steps to an Effective Portfolio Review
Alpha or Wealth?
The Expense Paradox
More on the Fama-French Farewell Tour
Worry of the Dollar's Collapse Is Overblown

Vol 3 no 45 (November 10, 2009)

Bruce Greenwald on Structural Problems in the Economy and Unemployment
4 Reasons to Emphasize Active Investment Management
3rd Quarter Financial Markets Review
Roubini:  Fed Policies are Destabilizing the Financial System
Using Case Studies to Make Your Case
Not by Return Alone: Judging Investment Performance
Letters to the Editor - The "V" Points Downward
Changes in Asset Allocation
Q3 2009 Performance among the Most Popular Mutual Funds
Changes in the Most Popular Mutual Funds

Vol 3 no 46 (November 17, 2009)

Ned Davis: The Cyclical Bull Rally is Not Over
Federal Taxes & Municipal Bonds - Historical & Current Perspectives
Bruce Greenwald on Positioning First Eagle's Funds
Our Steroidally Challenged Economy
Client Gifts that Stand Out
Five End-of-Year Marketing Tips
Letters to the Editor

Vol 3 no 47 (November 24, 2009)

Gary Shilling's Version of the New Normal
Dan Fuss and the Long-Term Outlook for Interest Rates
Tapping into Today's Number One Client Concern
Interview: Brian McMahon of Thornburg Investments
Get Personal with your Clients and Prospects
Buy Bonds and Not Bond Funds
The Jedi Knight's Guide to Real-Life Investing
Letter to the Editor - Buffett and Burlington Northern

Vol 3 no 48 (December 1, 2009)

Ten Ways to Connect with Your Clients' Children
Allen Sinai: Jobless Recovery and the Failure of Current Economic Policies
Hidden Cost of Active Management
Avoiding the Black Hole of Business Planning
To Roth or not to Roth, That is the Question
Think Like a Marine
Letters to the Editor

Vol 3 no 49 (December 8, 2009)

Morningstar Ratings Fail over a Full Market Cycle
Equity Income: Performance and Wealth Preservation
The 529 Dilemma
The Investment Value of Art
Cleaning up Messes
Dubai's Moon Shot
Attracting Clients through Event Marketing

Vol 3 no 50 (December 15, 2009)

Barton Biggs on Undervaluation in the S&P 100
The Next Black Swan? Underfunded Public Pensions
Letters to the Editor - Morningstar Responds
A Template for a Year-end Letter
The End Is (Not) Near
TCW Post-Gundlach
Investing in Range-bound Markets

Vol 3 no 51 (December 22, 2009)

ECRI: Recovery and Jobs Growth are Underway
The Holiday Spirit and Better Networking
Six Words that Open the Door to Accountant Referrals
The Danger of "Expert Advice" - Financial or Otherwise
How to Succeed Without Knowing Anything
Stimulus II: A Modest Proposal
Morningstar Ratings - Our Response
Letter to the Editor - Morningstar Ratings

Vol 3 no 52 (December 29, 2009)

Jeremy Siegel on the Undervaluation in US Equities
End-of-Year Letter Templates
The Top 10 Articles You Didn't Read (But Should Have)
The Best Way to Thank Clients for Referrals
Diversification is Not Enough
Letter to the Editor - Pension Liabilities
Letter to the Editor - Morningstar Ratings

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