International allocation should be underweight in 2021

One of the abiding asset allocation challenges in recent years has been how much to invest in non-U.S. vs. U.S. equities. In theory, globally-weighted market capitalization is the best choice for a general asset allocation. It is not unreasonable to think that global capital should be smart enough to reflect the relative value propositions across … Continue reading International allocation should be underweight in 2021

The transformation of personal finance

While the best practices of personal finance remain constant, the mechanics of banking, investing, borrowing, and decision making have made a massive leap forward. Technology enables these improvements. Brokerage fees have gone to zero. Mutual fund fees have declined sharply. Online tools facilitate all aspects of personal financial management, from banking to retirement planning. What's … Continue reading The transformation of personal finance