Portfolio Insights

The Case of the Missing Stocks

Here’s a pop quiz for you: How many stocks are in the Standard & Poor’s 500 Index? Hint: There’s a big clue in the name of the index. If you answered “500”, you’re correct! That was…
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The Underperformance of Active Managers Should Surprise No One

I’d like to start this month’s commentary with a moment of silence for the actively managed investment industry. Net client cash flows have been negative since 2004 for actively managed mutual funds, and the latest Morningstar…
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What is Evidence-based Investing?

At Vickery Financial, we throw the phrase “evidence-based investing” (or “EBI” for short) around fairly casually, without spending much time to actually define it. This month, I’d like to explain to our readers outside of the…
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The Essence of Finance

On the first day of my very first Investments course in college, our professor stated that he wished to take us all to the tattoo parlor down the street and have two phrases permanently inked on…
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Does Diversification Still Work?

I have a good friend who, despite my advice, invests virtually all of his portfolio in an S&P 500 index fund. No foreign stocks, no real estate, no emerging markets, no bonds. Lately, there’s no denying…
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