The Wealthy Barber Still Makes the Cut

If you haven’t heard of the F.I.R.E. movement (Financial Independence, Retire Early), its advocates focus on aggressive early saving to achieve financial freedom long before traditional retirement. But prior to F.I.R.E. going viral, David Chilton laid out the same blueprint in The Wealthy Barber. Published in 1989, Chilton’s classic has sold over 2 million copies […]

Things We Won’t Do as a Portfolio Manager

In the world of behavioral finance, there is a well-documented phenomenon known as loss aversion. Nobel Prize-winning psychologists Daniel Kahneman and Amos Tversky found that the pain of a loss is psychologically twice as powerful as the joy of an equivalent gain. Statistically, most investors require at least a 2-to-1 gain to offset the emotional […]