Insights on markets, emergent trends, history, innovation, risk management, global economics, strategy, policy, and other topics that catch our attention. Inspired by ongoing research, conversations and events. Written and edited by Osbon Capital Management and published every Thursday morning.
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2024 will bring more positive novel surprises. New years always do. In 2023, it was the dramatic acceleration in AI, which touches nearly every industry, and the early stages of an answer to the obesity epidemic with GLP-1s. Here is a list of what’s on our minds going into 2024.
A Family Advisory Firm Like No Other
It is very difficult and rare to be unique in the investment business. Copycats swarm most models and ideas, hoping for success. Nonetheless, Max and I met a unique firm at the Vanguard Conference The Future of Advice last month. We thinkRayLign is on to something valuable and want to spread the good word. What is RayLign doing that is different and better?
Why We Use Fidelity
Quick, what’s the first question you should ask of a prospective investment advisor? Hint: not many people ask it. The question is “Where will my money be?” Or phrased another way: “Who is your custodian?” The answer matters. The custodian safeguards your assets, gets trades executed, keeps tax records, and does most of the invisible work behind the scenes to make sure your account holds what it should. We use Fidelity. Here’s why.
State Street: Change is here, now
Local biggie State Street (STT) held its annual RIA Symposium last week, a must-be-there event for the industry. With $28 trillion (!) of assets in custody and $2.5 trillion under management, our One Lincoln Street neighbor is uniquely positioned to comment on what’s happening right now in money management. What I heard was good news for investors and confirmation of key principles we hold at Osbon Capital. Here are four takeaways:
The Future of Advice
Vanguard was in town last week for a confab at the Langham Hotel. The discussion covered many topics but by far the most compelling subject was The Future of Advice. What did Vanguard say?
Sell in May and Go Away: Mythbusters Edition
We’re talking about ye olde investor adage to sell out of your positions on the 1st of May and buy back on the 1st of November. The idea is to avoid losses during the supposed summer lull. That’s the intention. But remember Yogi Berra used to say: “The road to hell is paved with good intentions.” Was he right?
Breakfast With Maura Healey, Massachusetts Attorney General
We occasionally write about important non-financial events in the public interest, like this one last week.
Thanks to PR industry leader Geri Denterlein for hosting our energetic attorney general for the Commonwealth, Maura Healey, at last week’s “In The News” breakfast series at the BC Club. An Osbon Capital client who is associated with Denterlein’s agency was kind enough to invite us and we were eager to hear what the chief law enforcer in Massachusetts law had to say.
Which Investment Shortcut Are You?
This is another in an occasional series of no shame, no blame articles about investor behavior. Most of us take some shortcuts in making big decisions, including investments. For instance, do you enjoy doing all of the research but tend to bog down at the decision phase? Or do you make gut decisions despite the nagging feeling that you probably should have done more research? You are not alone. Fortunately, simple awareness can help you overcome your tendencies. Here’s our list of investment shortcuts:
A Win For The Good Guys
The good guys are you. This win comes courtesy of the US Department of Labor (DOL) who made it official last week. Anyone advising individuals on their retirement accounts must “act like a fiduciary.” What does that mean? Fiduciary is the highest standard in investment management. It means you must put the interests of the person you represent first in all situations. Sounds obvious, but it hasn’t been. We’ve embraced the fiduciary standard since Day One of Osbon Capital in 2005. Many firms can operate without it. This DOL ruling is a big step forward. Here’s why.
Suppress My Taxes. Please!
April 15th is coming again this year, right on schedule but not necessarily welcomed. How can you take some of the dread out of Tax Day? Here are some ways to improve the tax picture for the investment side of your ledger. They’re simple, but not always easy to execute properly. Read on…
