by JD Gardner | Dec 6, 2023 | Market Updates
“By continuing the process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily, and, while the process impoverishes...
by JD Gardner | Oct 9, 2023 | Market Updates
We will build on this note in weeks to come. As you’ve probably heard us say, we think it makes sense to equip portfolios with a stronger engine (stocks), using better brakes (hedges) to stay risk-neutral vs. traditional benchmarks. If you’ve heard us speak...
by JD Gardner | Sep 6, 2023 | Market Updates
We talk constantly about the two main risks we help advisors defend against: Drawdown: sharp drops that interrupt compounding and trigger client fear Longevity: insufficient returns that put clients at risk of outliving their money Let’s focus on Longevity. The...
by JD Gardner | Jul 6, 2023 | Market Updates
The Volatility Tax Almost 2 years ago to the day, we published this piece: Reducing the Volatility Tax. We thought revisiting this concept was timely given the last 18 months. Look at the table below and the returns of each segment of stocks during 2022, the...
by JD Gardner | Jun 5, 2023 | Market Updates
Stroke Play or Match Play For any non-golfers out there, match play is hole-by-hole scoring. Meaning, you play to win each hole individually. Your score from the prior hole is irrelevant to the next. In stroke play, it’s the cumulative total. Each hole...
