Morningstar Versus The Wall Street Journal: Who Won?

The Wall Street Journal says that funds given a top “star” rating by Morningstar won’t be top performers. But the Journal’s findings are neither new nor as conclusive as its article states.


Risk Tolerance and Behavioral Finance

We have seen a powerful recovery in asset prices in the wake of the global financial crisis (GFC). We cannot forget, however, that more than $15 trillion in asset values evaporated in 2008–2009, wiping out gains earned in the bull markets of the 1990s and early 2000s.


Masters Series Interview with Richard H. Thaler, PhD

Richard Thaler, PhD, is considered one of the founding fathers of behavioral economics, the nexus of economics and psychology—specifically how people and organizations make decisions that may have negative consequences and how they frequently repeat these mistakes. 


The Growth Mindset: Being Brilliant in the Fundamentals

A tsunami of change is headed toward the financial-industry shore, promising to swallow those unprepared for challenge and disruption. Indeed, disruption can resemble a tsunami—a series of waves with enormous destructive power. Leaders must meet these challenges with appropriate responses from positions of strength.


Disease of Doubt: Investors Must Combat Doubt and Confirm Convictions with Portfolio Positionings

Doubt can be a pesky thing. Once you’re infected, it’s hard to shake off. It makes you second guess what you thought you were sure of, it’s contagious, and there’s no vaccine for it.


Sustainable Spending Policies

We may not be able to control the direction of the markets or the rate of inflation, but we can control the amount of money we spend.