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Investor demographics: how wealth, age and gender affect decisions

      By LARRY SWEDROE   To determine whether investor demographics provide information as to the holdings of their portfolios, Sebastien Betermier, Laurent Calvet, Samuli Knüpfer and Jens Kvaerner, authors of the February 2022 study What Do the Portfolios of Individual Investors Reveal About the Cross-Section of Equity Returns?, examined the stockholdings of 365,000...

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Advisers need to tell their story

  The fact that he runs the most successful fund management company on the planet is reason enough to listen to Bill McNabb. But the Vanguard CEO speaks such perfect common sense that everyone who genuinely cares about producing better outcomes for investors...

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Multi-manager funds — Who needs ’em?

  “99% of what you read about investing in magazines and newspapers,” the investment author William Bernstein once wrote, “is worse than useless”. Although I see where he’s coming from, I think that’s harsh. There are some outstanding investment journalists out there; Jason...

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#SFTW: Financial planning isn’t about selling funds

SOMETHING FOR THE WEEKEND Financial planning. Paul Armson thought that being an adviser was all about selling investment products — until he started asking different questions. He now heads Inspiring Advisers, an organisation working to restore financial planning to its rightful place as...

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Financial planning has nothing to do with products — Paul Armson (Part 1)

  Paul Armson thought that being an adviser was all about selling investment products — until he started asking different questions. He now heads Inspiring Advisers, an organisation working to restore financial planning to its rightful place as a valued profession, totally unconnected...

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How to keep track of tracking difference

  There aren’t many blogs (other than this one, of course) that evidence-based investors ought to follow. But Monevator is definitely one of them. It’s very well-written and brimming with insight and useful advice. Although it’s UK-based, it appeals (as we aim to...

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The investing industry is glad that most of us are clueless

  Of all the (mainly positive) feedback I received about my documentary How to Win the Loser’s Game, one of the most memorable emails came from an adviser in Canada. He referred to what he called “the perfect rigging of the investment system”,...

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