Responding to Rising Inflation

What tactical changes should you make to your portfolio in response to the prospect of rising inflation? Answer: None. Surprisingly, simply staying invested in equities has historically been the most efficient (and effortless) long-term hedge against inflation.

Lifetime Tax Planning Amidst Uncertainty

A common behavioral mistake is to let the tax tail wag the investment/financial planning dog. People often go to extreme lengths to avoid realizing capital gains today so they won’t incur capital gains taxes that have to be paid today.

Beware Concentrated Positions

In the catalog of investment mistakes, a concentrated position holds a special place of dishonor because it is the embodiment of multiple cognitive and behavioral errors. Outperformance isn’t a rational financial goal, and concentrated positions present substantial, potentially ruinous risks.