Manager Skill vs Luck Pros Versus Casuals Posted on May 10, 2018August 17, 2026 By Matthew Garrott One of my favorite events at the NFL Combine is when NFL Network’s Rich Eisen runs the 40 yard dash. He uses the Run Rich Run event to raise money for St. Jude’s. It also helps give perspective to just how talented the athletes at the combine are. Viewed on the… Read more
How Yale Beat the Market Posted on April 13, 2018August 17, 2026 By Matthew Garrott The Yale Endowment released their 2017 report, taking a victory lap over their 20-year returns. In their hubris, the endowment’s management team let slip the secret to beating the markets. “[A]ctive management can be a powerful tool for institutions that commit the resources to achieve superior, risk-adjusted investment results.” If… Read more
My “Bad” Personal Finance Posted on March 12, 2018 By Matthew Garrott “Dad, can we go speed?” I always wondered if my kids would be like me. So when William asked that question on the way to swimming lessons, I knew I could check that box. Yep, this kid inherited the car gene. My dad is a car guy. By today’s standards… Read more
Uncategorized I’m Back, Baby! Posted on March 8, 2018 By Matthew Garrott It’s been a while since I’ve posted, but that’s because I’ve been busy with a new baby! Baby and Mom are happy and healthy. This is a pretty big difference from our first child who spent a ton of time in the hospital during his first two years. There’s a… Read more
Uncategorized Has the Dow Left You Dazed and Confused? Posted on February 5, 2018 By Matthew Garrott Let’s set aside the fact that the Dow Jones Industrial Average is a flawed measure of the overall stock market. The media, your parents, and their parents have all accepted the Dow as the standard. Besides, over time the Dow does move in line with the overall market. So instead… Read more
2018 Outlook Posted on January 23, 2018 By Matthew Garrott I’ve been meaning to post an outlook for 2018, but I kept putting it off. Between the holidays, a sick kid, and my belief that calendar year outlooks are dumb, procrastination has been beating my will to write. No more! Here are my predictions for 2018: If you have been… Read more
Uncategorized Doing Good While (Hopefully) Doing Well Posted on January 17, 2018January 16, 2018 By Matthew Garrott Each year, BlackRock’s Chairman and CEO, Larry Fink, writes a letter to CEOs of “leading companies” in which BlackRock’s clients are shareholders. Last year’s letter encouraged long-term thinking in the context of a world that is increasingly focused on short-term volatility. This year’s letter strikes a similar tone, but goes… Read more
Uncategorized ‘Bron, ‘Bama, and the January Effect Posted on January 9, 2018 By Matthew Garrott The NBA may as well cancel the rest of the season. Why? Alabama won the college football championship, of course! This means LeBron James is sure to win a title of his own: This reminds me of the January effect in the markets. The thinking is that if January… Read more
Uncategorized Are You More Likely to Cheat with Bitcoin? Posted on December 8, 2017 By Matthew Garrott I recently spoke with a client who wanted to know what could go wrong with bitcoin. We talked about bitcoin and the monetary system (not a risk now, but who knows in the future) as well as black market applications (greenbacks work just as well or better here). The question… Read more
Uncategorized Bears, Beats, Bitcoin Posted on December 6, 2017December 6, 2017 By Matthew Garrott In honor of my favorite vignette from The Office… Question: What kind of bear is best? ‘Tis the season for market predictions (and forgetting last year’s predictions). The optimists predict low single digit returns for equities. The bears predict bear things. Which means no one expects even decent stock market… Read more