portfolio – MD Update

Investment Markets: Problem? or Opportunity?

June 1, 2022June 22, 2022 Scott Neal 9% year-to-date, aggregate U.S. Bond market, allocation, asset, asset allocation, asset class, basket of security, bond, bond loss, bond market, cash, cash remains, chief risk, correction territory, drawdowns, entire portfolio, ETFs, federal reserve policy, hold security, image001 image002, inflation, interest rate, investment, investment market, investment protocol, investor, longer-term bond, market cycle, market turn, market-like return, momentum, momentum growth strategy, near-zero interest rate policy, portfolio, portfolio objective, portfolio performance, prescribed allocation, preservation, price of the bond, rate of longer-term bond, reduce volatility, reduce volatility of the entire portfolio, risk tolerance, S&P 500, Scott Neal, specific rate of interest, stock, strategy, tenet of traditional asset allocation, tolerance, towel, traditional asset allocation, traditional asset class, traditional stock, treasury inflation, U.S. Bond, U.S. Bond market, uncertainty of the situation, upside volatility, usual asset class, volatility, wealth, wealth preservation, wealth preservation strategy

The current economy, marked by the combination of high and rising inflation, low unemployment, and the near-zero interest rate policy

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Five Types of Risk and How to Deal with Them

February 1, 2022April 19, 2022 Scott Neal alert, alternative future scenario, annuity payout, asset, asset allocation, chief risk, chief risk control, defensive stock, Drawdown, Drawdown risk, estate work, financial plan, flavor of risk, future regret, future use reasonable assumption, good dividend, good hedge, good perform asset, inflation, inflation beater, investment, investment hit, investment turn, investor, investor face, let 's look, long-term goal, loss of purchase power, mind of investor, portfolio, purchase power, rational investor, real estate work, risk budget, risk tolerance questionnaire, S&P 500, Scott Neal, short term bond, short-term promise, short-term promise of gain, standard deviation of the distribution of return, stock, type of risk, volatility, volatility risk, x., x% return

Investors face several types of risk, and I contend that it is a mistake to get so focused on just

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Smarter Investment Objectives

November 1, 2019February 21, 2020 Scott Neal aspect of liquidity, asset, asset 's tax, available cash, cash, cash flow, category, charitable organization seek year-end contribution, difficulty set investment goal, dividend, Droms, economic benefit, economic benefit of an investment portfolio, elimination of capital gain, G., Georgetown university 's William G., immediate taxation, immediate taxation of dividend, important tax benefit, investment, investment goal, investment portfolio, liquidity, little quiz, MD-UPDATE, MD-UPDATE issue, moderate growth, portfolio, qualified retirement account, question of allocation, quiz, retirement account, risk tolerance, Scott Neal, security selection, share of a widely-traded stock, smart give, smart investment objective, substantial growth, tax benefit, tax consideration, tax-efficient invest, tradeoff, valid entry, widely-traded, widely-traded stock, work of Georgetown university 's William G., year-end contribution

Before we get into the topic for this issue, I offer a reminder. If the contents of your inbox resemble

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Will I Be Okay?

October 1, 2016 Scott Neal actual health, advisor deal, big short, client mean, effectiveness of a static asset allocation, financial well-being, let 's explore, long run scenario, maximum, maximum risk, new trade, next downturn, next downturn of the market, okay-ness, portfolio, positive expectancy, realm of financial well-being, recent study call, recollection of the great recession, refocus attention, return-sequence, return-sequence risk, run scenario, Scott Neal, static asset allocation, strong risk management, study call, trade plan, traditional advisor deal, volatile time, volatility, volatility of the market

One of the key questions on the minds, if not the lips, of your patients is likely to be, “Am

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Déjà Vu, All Over Again

December 1, 2015January 20, 2017 Scott Neal 30 year U.S. treasury, 65 % bull, aggregate earnings, bad quarter, big year-over-year decline, bullish consensus, contrary indicator, Déjà Vu, downright alarm, earnings, exception of interest rate, extraordinary stock market growth, financial plan, fundamental driver, fundamental driver of the extraordinary stock market growth, future of the stock market, GDP, GDP growth, growth rate, growth rate of aggregate earnings, growth rate of earnings, historical index data, impend rate hike, interest rate, investment, investor psychology, level of aggregate earnings, level of optimism, long run return, long time reader, long-dated, long-dated bond, magnitude of stock repurchase, mean reversion, member of the fed, money manager, non-fundamental factor, portfolio, primary impact of GDP growth, quarter of the S&P 500 company, rate of return, run return, S&P 500, S&P 500 company, Scott Neal, sentiment, slow erosion of expected return, slowdown, stock, stock market, stock market growth, stock market rally, stock repurchase, strategy, survey of advisor, time reader, variable, year-over-year decline

As of this writing, the stock market has just produced one of its worst quarters (Q3) in a very long

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Looking Inward

September 1, 2015 Scott Neal 24, 24 hour news cycle world, 3.9% U.S. growth, ad nauseum, aforementioned loss, aspect of financial market, author of behavioral portfolio management, behavioral portfolio management, Britain 's FTSE, China 's issue, China 's Shanghai, cognitive error, commensurate responsibility, Dr. Howard, Dr. Thomas Howard, emotion, error, family 's financial future, fed 's next move, federal reserve interest rate policy, foot of policymaker, future performance, GDP announcement, Germany 's DAX, great Britain 's FTSE, high-frequency trade, Hong Kong 's hang, Howard, huge sophisticated market price security, inability of the emerge market, inauspicious month, incentivize growth, investment, investment decision, investor, Japan 's Nikkei, let 's dig, long term growth solution, market price security, MLA, nauseum, need of a current story, nerve-wracking volatility, news cycle world, news-making event, normal market volatility, portfolio, portfolio management, precarious nature, precarious nature of the European union, primacy of growth, real question remains, recent GDP announcement, recent GDP announcement of 3.9% U.S. growth, representativeness, reserve interest rate policy, role emotion play, S&P 500, Scott Neal, social validation, stagnant nature, stagnant nature of the world 's economy, superior portfolio, term growth solution, U.S. growth, validation, volatility

August 2015 was an inauspicious month for equity markets around the world. Although the sell-off decelerated as the month drew

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Looking Back, Looking Forward

June 1, 2015 Scott Neal aforementioned fundamental driver, aggregate earnings, baby-boomers demand dividend, broad index, buy-backs, concept of mean reversion, crash, current 20+, Dr. Woody Brock, Dr. Woody Brock point, earnings, estimate call, financial plan, growth rate of aggregate earnings, growth rate of earnings, impend stock market crash, interest rate, investor, legendary stock picker, magnitude of stock repurchase, mean reversion, mean-reverting, mean-reverting development, moral of the story, nominal price of the stock, normal investor, picker, portfolio, rational prediction, real term, remarkable stock market, remarkable stock market of the past century, repurchase, reversion, Scott Neal, share buy-backs, share repurchase, stock, stock market, stock market crash, stock market return, stock picker, stock repurchase, sustained low level of growth, ten-bagger, unexpected rise, wealth growth

Back in the ‘80s, legendary stock picker Peter Lynch was famous for looking for those stocks that he thought would

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Maintaining Optionality

May 1, 2015 Scott Neal 14 % more money, 20 % decline, advantage of a down market, Antifragile, appropriate strategy, asset, asymmetric upside, author of good seller, available cash, average new money, brief economics lesson, bucket approach, buy-hold-and-rebalance, buy-hold-and-rebalance strategy, cash, cash rest, conventional monetary policy, dollar-cost, dollar-cost average, down market, economics lesson, efficacy of ZIRP, face of ZIRP, fed fund rate, five year CD, fund rate, go-go year, hypothetical dollar-cost, interest rate, investor, legendary investor, limited downside, money market rate, more money, non-conventional policy, Optionaility, Optionality, past four, portfolio, price of financial asset, property of asymmetric upside, real beauty of dollar-cost average, S&P 500, Scott Neal, specific goal, stock, traditional advice, unique property of optionality, value of cash, value of cash rest, zero-interest rate policy, ZIRP

We begin with a brief economics lesson and then move to how it affects investors. During periods of slow economic

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Retirement. What Retirement?

July 1, 2014March 28, 2017 Scott Neal 70½, amount of investment asset, answer, asset, bracket, chosen lifestyle, current live standard, expected tax bracket, expense of current live standard, goal-setting method, income replacement, investment, investment portfolio, let 's break, live standard, misplaced priority, outset of retirement, people ask, portfolio, pre-retirement, quantifiable answer, required age of 70½, retirement, retirement goal, save question, Scott Neal, social security, start of social security, stock advice, targeted retirement, tax bracket, total accumulated tax bill

Lately we hear many people asking, “Will I have to work for the rest of my life?” My response, “It

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Summer Reading

April 1, 2014 Scott Neal advisor, author of the behavior gap, behavior gap, behavioral mistake, Carl Richards, CEO of united capital, coat investor, died-in-the-wool, doctor 's guide, Dr. James M. Dahle, Duran, endogenous risk, experienced advisor, fair shake 's on wall street, financial house, financial solution, good financial decision, good process, great deal of satisfaction, great value, grind of medicine, help physician, illustration of Carl Richards, insurance company intervention, investment, Joe Duran, M., M. Dahle, maintenance of a set-it-and-forget-it portfolio policy, modern portfolio theorist, money code, money secret, Mordecai Kurz, Mordecai Kurz of Stanford university, physician, policy portfolio, portfolio, portfolio theorist, Reading, recent scholarship of endogenous risk, Richards 's material, Scott Neal, tone of surrender, tough choice, united capital, white coat investor, year-old physician

This week I heard a 47 year-old physician, who is not our client, say that he believed he would be

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