What our Favorite Characters Teach Us About Money A client once told me that the hardest part of investing wasn’t the initial investment — it was sitting still when everything in him wanted to do something at different points in time. I’ve thought about that a lot since. Because the truth is, most of the…
Winning the AI Race: Why Infrastructure Beats Talent (July 14, 2026). To Win Global, Build Local After watching a handful of the 2026 FIFA World Cup games, it’s apparent that no team wins a World Cup on talent alone. Even a casual observer (like me, who hasn’t watched this much soccer since the TV series…
When Does Being “Safe” Become the Riskiest Move You Can Make? Money can be emotional. I say that a lot, and I mean it every time. An example of where I have felt this clearly is a conversation I had a few years ago. A very smart and thoughtful client, someone I genuinely respect, told…
Markets During War: Why 80 Years of Data Say Don’t Sell the Headline (April 13, 2026). When war breaks out, markets don’t just react to the conflict itself — they often react to the fear, the uncertainty, and the “what-ifs” that come with it. That fear is often far more costly to investors than the…
Two structurally different paths to reducing concentration risk while protecting after-tax wealth For investors with concentrated equity portfolios, the desire to diversify often runs headlong into a frustrating reality: embedded capital gains. The larger the unrealized appreciation, the more painful any rebalancing becomes. Moving toward a more strategic allocation isn’t just an investment decision—it’s a…
Why We Diversify At a recent portfolio review, a client asked a question we hear in different forms all the time: “If the S&P 500 keeps dominating, why should I bother diversifying?” It’s a fair question. After over fifteen years in which U.S. mega-cap stocks drove most of the market’s returns, diversification can feel unnecessary—even…
Beyond the Basics: The Unmatched Power of Triple-Tax Exemption The HSA stands alone in the Internal Revenue Code. It is the only account that offers a true triple-tax advantage: Tax-Deductible Contributions: Contributions reduce your current-year adjusted gross income (AGI). Tax-Free Growth: All investment growth—dividends, interest, and capital gains—compounds entirely free from tax. Tax-Free Withdrawals: Distributions…
Navigating Politics, Policy & Portfolios (October 15, 2025). As we close another quarter, we wanted to share our perspective on the markets, the economy, and most importantly, how we’re positioning portfolios to thrive in the months ahead. Politics vs. Policy: What Actually Matters for Long-Term Investors The recent government shutdown reminds us that Washington doesn’t…
US Consumers and Valuation Gaps: Can the US Consumer Keep Carrying the Market? (July 15, 2025). The second quarter reminded us why staying grounded matters in investing. While markets celebrated new highs—with the S&P 500 breaking through 6,200—the foundations supporting this rally deserve closer examination. The quarter’s volatility, from April’s sharp selloff on tariff fears…
How Trustees Can Fulfill Their Duty of Care While Protecting Themselves Being named a trustee is an honor—but it also places you in a complex role, especially if you are not experienced in this area. As a trustee, you are responsible for stewarding someone’s financial legacy while balancing family dynamics, legal obligations, and investment decisions.…