Michael Kitces interviewed Stephanie Bogan, a practice management consultant who started a thriving business at age 24. Her insights into what holds many advisors back were fascinating. I’m planning to listen to this a second time.
If stocks keep going up, why isn’t anyone celebrating?
My favourite writer in the advisory space, and the best storyteller around, Josh Brown attempts to solve the biggest puzzle in the investing world these days – the market sets record highs day after day but the public refuses to get excited about it. This is a must read.
“Our bottom line result is that perfect foresight has great returns, but gut-wrenching drawdowns. In other words, an active manager who was clairvoyant (i.e. “God”), and knew ahead of time exactly which stocks were going to be long-term winners and long-term losers, would likely get fired many times over if they were managing other people’s money.”