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Expectations

Expectations

Photo from the movie “Elf” (2003), courtesy of New Line Cinema When you were a child, did you ever set your hopes on receiving a certain gift during the holiday season? Perhaps it was a bicycle, a trainset, a pogo stick or an action figure or doll. Do you...
Misaligned Values

Misaligned Values

From time to time, prospective clients reach out to us because they’ve grown dissatisfied with their current investment advisor or money manager. This can be because they don’t agree with the advisor’s investment management approach (more on this below), the manager...

How to Win a Nobel Prize, Part II

Are you ready for your second graduate level discussion on investing, and how to build a portfolio? We’ll again promise to keep the jargon to a minimum, and to explain academic terms, if we can’t avoid using them. At Springwater, our approach to building investment...

B is for Beta

A few weeks ago, we provided a brief introduction to the concept of investment “alpha.” Now that school has resumed across the country, we’ll turn our attention to the next letter in the Greek alphabet, “beta.” You’ll recall that alpha (denoted by the symbol α) is a...

Fund Expenses Hit Zero

We have been waiting the major investment management companies to announce this for a few years now. The fees these companies charge investors to their manage mutual funds and exchange-traded funds have been declining for some time. Investment management companies...