Houston, we have liftoff!  That is not what Fed chair Janet Yellen said, but we can say that the Dow closed up 224 points at the end of trading today.  The Fed had telegraphed this move, markets had priced it in, and this market reaction is consistent. I am pleased with this move, as I… Read more

Asset management is an extremely competitive industry that offers extraordinary wealth building opportunities to those managers who are successful in generating market beating returns, or at least in bringing in large amounts of assets to manage. This opportunity draws lots of really smart people to the business. The problem is that the average performance of… Read more