by JD Gardner | Apr 4, 2023 | Market Updates
Decisions are easier to make if conviction of outcome is high, and/or the tradeoff profile is attractive enough. Even if (you think) you know the outcome of an event, if the tradeoff profile is poor then what? Let’s use a real-time example: Given that it’s the NCAA...
by JD Gardner | Mar 7, 2023 | Market Updates
This month’s note is a carryover from last month’s, where we highlighted the rise of the “set it and forget it” portfolio over the last couple of decades, and the potential issues we see with that mentality. These portfolios are dependent on bonds working. By...
by JD Gardner | Feb 6, 2023 | Market Updates
Think Different – Be Different Day in and day out, our time is spent in the trenches with financial advisors and their end clients. Some are new relationships; some we’ve had the privilege to work with for years. We aim to be a valuable relationship and extend...
by JD Gardner | Jan 4, 2023 | Market Updates
Markets Have Changed Discounting is the mathematical practice of estimating what a cash flow in the future is worth TODAY. Higher rates used in discounting lead to lower values today, while lower rates used in discounting lead to higher values today. Given...
by JD Gardner | Dec 6, 2022 | Market Updates
A quick reminder, the formula for generating investment returns looks like this: Return = Yield + Growth +/- Valuation Change Here’s the graphic showing each of the 3 potential drivers of return, broken out with annualized return of each component, by...
