Cowboys and Market Crashes

Post by Paul McClatchy It’s a rule in nature that systems strive for balance. When exogenous shocks occur, the system may alter but an equilibrium eventually is reached. Human systems, like the market, usually operate the same way. During the late 90s,…

Read More

The Fiduciary Standard: What it Is and Why it Matters

Post by Paul McClatchy There is an old axiom from the early days of the financial industry that “investment products are sold, never bought”. The gist of this was that most people were pressured into investments they didn’t need, want,…

Read More

Bull Markets Don’t Die of Old Age

But this one died from a virus. Well, here we are; officially in the throes of the 2020 bear market. In our October 2019 quarterly letter, we pointed out some recession indicators (notably the inverted yield curve) but remained optimistic…

Read More

Market Update: Bad Stuff Equals Bad Market

One explanation of the 2008 financial crisis is that people paid too much for houses and lending standards were too lenient. That is a simple story, but it is a genuinely inadequate explanation. The crisis was not confined to people…

Read More

The Who – and the Why – of Planning Capital

Recently, we had a new addition to the Planning Capital Management team, Paul McClatchy. Paul joined us as a Senior Financial Planner just a short while ago, and at a recent meeting he happened to bring up his reasons for…

Read More