Insights

First Quarter 2012|Jim Williams| It has been well documented that the overall performance of mutual funds is almost always quite a bit better than performance received by individual mutual fund investors. How can this be?

Fourth Quarter 2011|Jim Williams| Since our approach is one that does not change with short-term swings in the markets and does not depend on our predicting market turns, our story is essentially a one-time story which doesn’t lend itself to a new version each quarter. Still, it’s a good thing to revisit first principles from time to time just to keep the thought process grounded.

Third Quarter 2011|Jim Williams| The newest Nobel Prize (shared) winner in economics, Thomas J. Sargent, seems to be a man of few words. His research on cause and effect in the macroeconomy focuses on expectations; how they are formed, how they matter, and how they might be measured in macroeconomic models. The effort toward extending theories of expectations is particularly relevant these days.

Second Quarter 2011|Jim Williams| We are all being bombarded with concerns about increased debt limit, not increased debt limit, bond rating agency threats, continued federal overspending, and on and on. As much as I assiduously avoid making predictions, I would like to address a few of these concerns.

First Quarter 2011|Jim Williams| Over the last several years, I’ve come to realize and recognize that I’m essentially an optimist. Whether this is by my essential nature or by the force of the professional position I’ve chosen; that of counseling others on investment matters and financial planning, I’m not sure. But I tend to think it is the former.

Fourth Quarter 2010|Jim Williams| You may recall that when Congress enacted the Dodd- Frank Wall Street Reform and Consumer Protection Act of 2010, the act included a requirement that the Government Accountability Office (GAO) study the need for regulation of financial planners. Well, the study was just released. Most industry observers believe that the study falls short.