What do you do when your retirement portfolio comes up short of your retirement needs? This is the question that Sanjiv Das, Seoyoung Kim and Meir Statman attempt to answer in their 2014 paper Coming Up Short: Managing Underfunded Portfolios in a LDI-ES Framework.  With the Baby Boomers entering retirement after two major bear markets...Read More

The jobs report came in better than expected today, leading the usual barrage of speculation that the Fed will be tightening sooner rather than later. Guess what?  Not gonna happen. I try to avoid Fed bashing.  There is really nothing worse than a Monday-morning quarterback, and in any event, complaining about the Fed’s policies is...Read More

On Thursday, September 25, Derek Jeter will take the field at Yankee Stadium for the last time.  A winner of five World Series and selected to the All-Star team fourteen times, he will be remembered as one of the greatest players of his generation and an all-around class act. Yankees fans are queuing up to...Read More

If you cannot view the embedded video, please click here. I joined CNBC’s Kelly Evans and Bill Griffeth and Stifel Nicolaus’ James Albertine yesterday for a lively chat on Tesla Motors (TSLA).  James takes the view that, after its recent correction, Tesla is an attractive stock.  While I share James’ enthusiasm for Tesla’s technology, I...Read More

At one time or another, we’ve all wondered if the Western world has lost its direction.  For much of the past 100 years—and even more so since the 2008 financial crisis—the West has been riddled with self-doubt and at times, it would seem, even self-loathing. Whether it is guilt over the past sins of colonialism and...Read More