Understanding Trend Following: A Strategic Diversifier for Modern Portfolios
The Meketa Investment Group’s December 2025 whitepaper examines trend‑following strategies over the 2000‑mid‑2025 period, reporting an annualized 4.9% return with 13.4% volatility—positioned between U.S. bonds and global equities. The research highlights “crisis alpha,” showing positive gains during the dot‑com bust, the Global Financial Crisis, the COVID‑19 market shock, and the 2022‑23 rate‑hike cycle, which helps explain roughly $350 billion of assets allocated to such managers. It also uncovers significant manager dispersion, driven by six design choices, and demonstrates that modest trend‑following allocations improve the risk‑adjusted profile of a traditional 60/40 portfolio.
Social Security Survivor Benefits for Spouses
Social Security survivor benefits are distinct from spousal benefits and can provide up to 100% of the deceased worker’s entitlement, whereas spousal benefits are capped at 50% of the worker’s full retirement amount. To qualify, a current spouse must have...
The Remarkable Liquidity Of Financial Advisory Firms When Planning Your Own Advisor Retirement: Kitces & Carl 188
Advisors nearing retirement must translate firm value into a reliable exit asset while preserving client continuity. Kitces and Carl Richards explain that buyers focus on free cash flow, client retention and transferability rather than top‑line revenue. The podcast contrasts internal...
14 Most Undervalued Cybersecurity Stocks to Invest In
The article spotlights 14 cybersecurity stocks deemed undervalued, each trading below a forward P/E of 15 and backed by recent positive developments. It highlights Cognyte Software’s $5 million contract with a U.S. state law‑enforcement agency and Box’s launch of the AI‑powered...
SEP IRA Contribution Limits For 2026
The 2026 SEP IRA contribution limit remains at 25% of compensation, capped at $72,000. Contributions can be made up until the tax filing deadline, typically April 15, with an extension to October 15. Self‑employed individuals can calculate their maximum contribution by adjusting...
THE 40% WEALTH CONFISCATION: Positioning for Debasement, M2 Money Supply Explosion Coming as Fed Inevitably Returns to Money Printing, Drives...
The article warns that the Federal Reserve will likely resume aggressive money‑printing to buy Treasury securities as soaring debt‑service costs strain the U.S. fiscal balance. By expanding the M2 money supply well above its 6.8% historical average, the Fed will...
Bitcoin, Gold, or Silver: Which Is the Safest Bet for 2026?
Investors evaluating safe‑haven options for 2026 are weighing Bitcoin, gold and silver. Bitcoin is projected to hit roughly $250,000 by year‑end, supported by institutional adoption and a pro‑crypto regulatory climate. Gold is expected to trade between $4,000 and $5,000 per...
Get Supercycle Report | Lifetime Upgrade
Supercycle, a macro‑investing research platform, offered its current members a lifetime upgrade for $3,995 – the same price as a three‑year term. The upgrade guarantees permanent access to all future portfolio updates, watchlists, trade alerts, live calls and platform enhancements,...
How to ACATS Lock Your Brokerage Account
Automated Customer Account Transfer Service (ACATS) lets investors move securities between brokerages without tax consequences, but criminals can hijack the process by opening fraudulent accounts and initiating unauthorized transfers. Recent reports, including a Bogleheads forum post, show thieves siphoning up...
The Most Important Thing
The article argues that learning from one’s mistakes is the single most important factor in achieving mastery, outweighing technical knowledge alone. It cites Howard Marks’ list of investing principles, Warren Buffett’s 25‑year shift from “cigar‑butt” value to quality businesses, and...
Investing More Than The Gift Tax Exclusion Limit Shouldn’t Be A Problem
The author contributed roughly $35,000 per child to custodial accounts in 2026, exceeding the $19,000 annual gift‑tax exclusion. The $16,000 overage per child is deducted from the $15 million lifetime exemption, meaning no immediate tax is due. He will file IRS...
5 Things The Working Class Must Stop Buying According To Dave Ramsey
Personal finance guru Dave Ramsey warns that working‑class families sabotage wealth by clinging to five common purchases. He argues that brand‑new cars, timeshares, extended warranties, habitual restaurant meals, and any financed items erode disposable income and inflate debt. Ramsey’s solution...
The Great Wealth Transfer: Strategies to Transfer ‘Superfluous’ Assets Without Taking an Estate Tax Hit
The article defines “superfluous” assets as holdings—second homes, artwork, concentrated stock—that exceed a family’s income needs and can be earmarked for tax‑efficient transfer. It outlines several estate‑planning tools, including Grantor Retained Annuity Trusts, Qualified Personal Residence Trusts, charitable remainder trusts,...
Tops and Bottoms
The article compares S&P 500 total returns from the lows and highs of the last five major bear markets. Bottom‑of‑cycle gains range from 41% after the Liberation Day sell‑off to a staggering 1,292% since the 2009 financial crisis low. Even the...
Tuesday Links: Finding Great Ideas
Amazon announced a $1.5 billion acquisition of Globalstar to bolster its low‑Earth‑orbit satellite internet network and simultaneously expanded its automotive marketplace with several new car brands. Across energy markets, Asian economies are grappling with record‑high oil prices while diesel spikes threaten...
Washington’s Capital Gains Tax Charitable Deduction Has a Hidden Catch
Washington’s capital gains tax offers a charitable deduction, but it only applies when the donation is made to a “qualified organization” that is principally directed and managed within the state. The rule diverges from federal law, which merely requires 501(c)(3)...
Oakmark Equity and Income Fund’s Q1 2026 Investor Letter
Oakmark Funds, managed by Harris Associates, released the Oakmark Equity and Income Fund’s Q1 2026 investor letter. The fund held 56.1% equities, 40.2% fixed‑income and 3.7% cash. In the quarter the equity segment fell 5.16% versus a 4.33% decline in the...
Question Time: Diversify Away From Tech (VIDEO)
The latest Alhambra Research video urges investors to scale back tech holdings. It notes that the tech‑heavy Nasdaq has slipped roughly 15% this year as interest rates rise. The analysts highlight that diversified, multi‑asset portfolios have delivered better risk‑adjusted returns....
Did AI Kill Coast FIRE?
Coast FIRE lets people quit high‑pay jobs, keep a modest side hustle, and rely on portfolio growth to fund retirement. The rise of generative AI threatens that side‑income by automating many white‑collar gig tasks, as seen in the recent 50%...
One Good Call?
A financial advisor demonstrated the value of active macro management during the 2022 bond market crash by moving a client’s portfolio into ultra‑short duration bonds and cash, thereby avoiding a 13% drawdown. The firm later rotated back into short‑ and...
Cliff Asness on Diversification: The Real Risk Investors Miss
Cliff Asness and AQR argue that a recent positive stock‑bond correlation is not a cure for diversification problems. The report warns investors against swapping bonds for assets that merely track equities, such as private credit, leveraged equity products, or Bitcoin....
RSUs and Washington State's New Taxes: What Seattle Tech Employees Need to Know
Washington’s new tax regime adds a 7‑9.9% capital‑gains levy (effective 2025) and a 9.9% broad‑based income tax (effective 2028) that together reshape the cost of restricted stock units for Seattle tech workers. RSU vesting is ordinary income, so any vesting...
Robbing Peter to Pay Paul: A(nother) Look at Long/Short Direct Index Tax-Loss Harvesting
Leveraged long/short direct‑index tax‑loss harvesting (LSDI) lets investors swap a concentrated, high‑cost‑basis stock for a diversified basket without paying capital‑gains tax up front. The authors model a $10 million Shopify holding and find that manager fees—0.5% on the long side and...
PIMCO Puts Its Best Credit Manager in a CEF. The 11.6% Yield Comes With a Clock.
PIMCO’s Dynamic Income Opportunities Fund (PDO) trades at a modest 3.1% premium and delivers an annualized 11.6% distribution yield, supported by roughly 35% effective leverage. The closed‑end fund, launched in 2021, is managed by PIMCO’s top credit team, including Dan...
The Basics of Building Wealth
The post outlines ten foundational habits for building lasting wealth, starting with a contrarian, long‑term mindset and a disciplined low burn rate. It stresses that wealth differs from money, urging readers to invest consistently rather than chase timing or hype....
Why Gold's Inflation Hedge Fails in a Crisis
Gold is widely marketed as an inflation hedge, but 126 years of data show it falters when inflation exceeds 3%. In the February 2026 Iran‑related oil shock, gold briefly spiked to $5,400/oz before falling 10‑12% as higher rates eroded its...
What 10,000 Paying Subscribers Already Know
Michael’s newsletter has attracted over 10,000 monthly paying subscribers, many of whom are financial advisors, portfolio managers, and institutional allocators. The paid version delivers a proprietary intermarket signal framework, including a weekly dashboard of four ratios, sector rotation analysis, a...
Biweekly Savings Plan For 6 Months
The article presents a six‑month biweekly savings plan that breaks a financial goal into twelve small, repeatable deposits. It outlines practical steps such as setting realistic targets, creating a simple budget, and using automatic transfers to make saving feel like...
5 Things the Working Class Thinks Are Assets but Are Liabilities
The article identifies five purchases—oversized homes, financed new cars, luxury consumer goods, high‑cost low‑ROI education, and timeshares—that many working‑class families mistake for assets, explaining how each drains wealth rather than builds it. It contrasts this with the wealthy’s focus on...
How Inflation Affects Your Retirement Income (And What You Can Do To Fight It)
Inflation is a silent threat to Canadian retirees, with a long‑term average of about 2 % but an 8 % spike in 2022 that can quickly erode purchasing power. A typical CAD 4,000 monthly pension—roughly USD 2,960—could lose half its value in 35 years if...
Why Most Stocks Fail (And What That Means for Your Portfolio)
An analysis of a century of U.S. equity data shows that most individual stocks underperform, with the median return turning negative over the period. Gains are heavily skewed, as roughly the top 5% of stocks account for more than 80%...
Financial Planning
A DIY investor questions whether paying 1%‑1.25% for a personal advisor justifies the cost compared with low‑cost index options that total about 0.6% annually. He worries about future responsibilities such as required minimum distributions, Social Security, taxes and asset allocation,...
My Sister’s Will and What It Taught Me.
The article recounts how the author’s sister, Victoria, left a handwritten, non‑notarized will that proved legally invalid. Without a valid will, the estate entered probate, requiring court approval for asset sales and extending the settlement timeline. The author, appointed personal...
Do Hedge Funds Add Value?
A recent study of market‑neutral hedge funds finds their correlation with the stock market shifts with financial cycles—negative in bear markets and positive in bull markets. The research also uncovers tail dependence during bullish periods and shows that hedge‑fund managers...
Nothing Like a War To Bring Folks Around to Personal Financial Planning
A financial coach is working with two recent evacuees from the Iran‑U.S. conflict, ages 40 and 29, to bring order to their ad‑hoc savings. In the first session the coach emphasized three fundamentals: allocate 15% of gross income to retirement,...
Charlie Munger’s Best Advice on Investing in S&P 500 Index Funds
Charlie Munger, despite his reputation as a concentrated stock picker, repeatedly urged ordinary investors to buy a low‑cost S&P 500 index fund and hold it for the long term. He argues that most retail investors lack a professional edge, are prone...
Resist the Urge to Act
The article revisits Jonathan Clements’ core personal‑finance principle – Resist the Urge to Act – and explains why doing nothing can be the smartest investment move. It argues that market efficiency means most news is already priced in, so impulsive...
IRS Payment Plans Could Help You Deal with a Large Tax Bill
The IRS offers multiple installment payment plans to help taxpayers who can’t cover large tax bills in full. Taxpayers must file their return or request a six‑month extension to avoid the harsher failure‑to‑file penalty, then can choose a short‑term plan...
The Business of Life Is the Acquisition of Memories
Physicians frequently amass substantial wealth yet retire with limited personal experiences, a phenomenon highlighted in recent Physician on Fire posts. The blog argues that an over‑focus on financial accumulation can eclipse the pursuit of meaningful memories, relationships, and giving back....
5 Signs You’re Moving From Middle Class To Rich, According To Charlie Munger
Charlie Munger argues that moving from the middle class to wealth hinges on mindset, not income. He emphasizes thinking in decades, avoiding big mistakes, and building a multidisciplinary latticework of mental models. Evaluating opportunities by the integrity of people involved...
Washington's New Income Tax: The Complete Guide for Founders, Investors, and High Earners
Governor Ferguson signed ESSB 6346 on March 30, 2026, establishing Washington’s first broad‑based income tax—a 9.9% levy on adjusted gross income exceeding $1 million, effective January 1, 2028. The law reshapes tax planning for founders, investors, executives, and high‑earning residents, introducing residency rules, a marriage...
Thursday Links: A Job in a System
This week’s links highlight a shift toward diversification and new product frontiers across finance, tech, and health. BlackRock’s broad‑based strategy is shielding it from private‑credit turbulence, while industry thinkers predict a radically different asset‑management landscape in a decade. OpenAI’s acquisition...
Tools/Calculators for Monthly Retirement Cash Flow and Tax Estimation
A HumbleDollar forum member asks for reliable tools to project annual retirement cash flow and estimate upcoming tax liabilities. The user has already handled Social Security timing, IRA conversions, estate planning, and budgeting, leaving only the need for precise income...
Reverse Mortgage vs Home Equity Loan: 2026 Guide
The April 9, 2026 guide breaks down reverse mortgages, home‑equity loans, and HELOCs, highlighting age limits, payment structures, and equity effects. Reverse mortgages let borrowers 62+ tap home equity without monthly payments, but balances grow and upfront costs are high. Home‑equity loans...
Warren Buffett Warns: Stop Buying These 5 Things Immediately
Warren Buffett warns that five common habits erode wealth: carrying high‑interest debt, chasing hype‑driven stocks, investing in products you don’t understand, maintaining over‑diversified low‑conviction portfolios, and pursuing status‑driven purchases. He urges eliminating any debt above roughly 10% interest, buying only...
Pzena: Value Vs. Value-Light – Why Investors Are Leaving Returns on the Table
Pzena Asset Management warns that many investors claim to follow value investing but actually employ “value‑light” strategies that skip the cheapest stocks. The firm shows that this dilution drags long‑term returns and misrepresents risk, as passive value indices often contain...
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Why Physicians Pay More in Taxes and How to Reclaim Your Income [PODCAST]
Physician earnings surge after residency, but many doctors face unexpectedly high tax bills due to progressive rates, payroll taxes, and under‑withholding. Tax specialist Logan Foltz explains that most physicians lack basic tax literacy, especially when transitioning from W‑2 resident salaries...
How Business Owners Build Wealth Outside Their Companies
Entrepreneurs often tie most of their net worth to their businesses, creating concentration risk. The article advises owners to treat personal distributions as a fixed expense, typically 20‑30% of net profit, and to consistently move that money into diversified, uncorrelated...
At The Money: Seeking Uncorrelated Returns
The At The Money podcast featured Andrew Beer, founder of Dynamic Beta Investments, promoting the DBMF ETF that replicates managed‑futures strategies. Managed futures, which trade futures on commodities, currencies and rates, have historically delivered returns uncorrelated with stocks and bonds, even posting...
I Studied 100 Millionaires. They All Did These 10 Things.
The post distills habits shared by 100 studied millionaires into ten actionable principles, emphasizing education, mentorship, and disciplined financial management. It stresses saving with the intent to invest, building multiple income streams, and protecting health as foundations for wealth. Generosity,...