Preparing a Multi-Asset Class Portfolio for Shocks to Economic Growth

Laurence Articles

by Eugene Podkaminer, Wylie Tollette and Laurence Siegel Many investor portfolios are propelled by assets tied to economic growth. Over the past two decades, increasing emphasis has been placed on reaching for ever higher returns, with the result that portfolios have become even further skewed toward growth assets. Diversification, a powerful force in portfolio construction, has been hobbled by high …

How Paul Volcker Saved Our Country

Laurence Articles

When I had the pleasure of introducing Paul Volcker at a conference, I referred to him as “the man who saved the country.” This was not hyperbole. It is hard to remember the deep trouble we were in, more than 40 years ago, when inflation reached 13% in 1979. Times were terrible. A generation’s life savings, invested mostly in bonds, …

Clay Christensen: Disruption and Innovation Can Solve Global Poverty

Laurence Articles

Disrupt. Innovate. If these words echo through your head like a familiar TV show theme song, you’ve been influenced – whether you know it or not – by Clayton Christensen. A Harvard professor, businessman, and guru of disruptive innovation, Christensen has altered our vocabulary, inspired a generation of startup entrepreneurs, and made a bundle on the speaking circuit at $100,000 …

Tributes to Jack Bogle (1929-2019)

Laurence Articles

Collected by Ted Aronson, Larry Siegel and Robert Huebscher We’ve collected the following tributes to Jack Bogle from among the authors who contribute to Advisor Perspectives and other prominent individuals in the investment industry.

Building Portfolios for Households with Multiple Investment Goals

Laurence Articles

This is the second article in a series that aims to enhance the methodology by which financial planning is conceptualized and implemented. In the first article in this series, “Using Economic Balance Sheets for Financial Planning,” we showed that financial planners need to have balance sheet (“stock”) information, not just income and expense (“flow”) information, about households in order to …

Clay Christensen: Disruption and Innovation Can Solve Global Poverty

Laurence Articles

Disrupt. Innovate. If these words echo through your head like a familiar TV show theme song, you’ve been influenced — whether you know it or not — by Clayton Christensen. A Harvard professor, businessman, and guru of disruptive innovation, Christensen has altered our vocabulary, inspired a generation of startup entrepreneurs, and made a bundle on the speaking circuit at $100,000 …