Investment Basics

In years gone by, an individual simply subtracted his age from 100 to find the percentage of stocks to hold in his portfolio. It was an answer easily digested by someone in, or near retirement, and an answer that worked fairly well. But a lot has changed and easy answers aren’t always the right answer.

It’s interesting how the markets can sometimes humble the best analysts. Take what’s happening in the bond market. Last year, pundits pronounced that bond yields would rise in 2014. But, since the beginning of the year, yields have drifted lower, falling over a half a percentage point.

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Who would have guessed that the Looney Tunes cartoons of my childhood would be the reality of my financial advisory adulthood? I can’t help imagining all the Wile E. Coyotes of Washington DC chasing the illusive fiscal Road Runner. Some will reach for the speedy bird and end up grabbing the third rail of health care (ZAP, sizzle).