WEALTHTRACK

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Financial Crisis Survival Lessons: Beats Market & Peers Since Bottom (Ariel Fund) Apr 12, 2019

Show notes

Patience is usually considered to be a virtue except when it comes to investing. Investors are notoriously impatient when the funds they are in underperform the market for a few years. The magic number seems to be three.

There was an influential study of institutional investors done over a decade ago showing how poor their hiring and firing decisions were. Institutional investors typically fired a manager after three years of subpar performance and hired a manager after three years of exceptional performance. The only problem was the newly hired funds tended to underperform for the next several years and the fired funds would outperform.

Morningstar found that the same pattern holds true with mutual fund investors. Its conclusion: “Think twice before you ditch that laggard fund in your portfolio.”

This week’s guest hails from a firm where patience is still considered a virtue and whose slogan is “Slow and Steady Wins the Race” with a tortoise as its logo. He is Charles Bobrinskoy, Vice Chairman and Head of the Investment Group at Ariel Investments where he manages their focused value strategy and spearheads its thought leadership efforts.

WEALTHTRACK #1543 broadcast on April 12, 2019.

2 Secrets to Beating the Market. Great Value Investor Joel Greenblatt Explains Apr 05, 2019

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Great value investor Joel Greenblatt reveals his two secrets to investment success. He is living proof that active management can still work really well. Greenblatt is Managing Principal and Co-Chief Investment Officer of Gotham Asset Management where he co-manages hedge funds and several hedge fund-like mutual funds utilizing long/short strategies. His behavioral insight that the best investment strategy is one that both makes sense and that you can stick with.

The proposition that active management still works can be made on a case by case basis in the highly competitive stock mutual fund business, but it doesn’t hold up in general. In Greenblatt’s opinion: the investment flows to passive will continue, but there is a silver lining to this trend, which he will explain.

In an exclusive interview, great value investor Joel Greenblatt reveals his two secrets to investment success. WEALTHTRACK #1542 broadcast on April 05, 2019.

More at: www.wealthtrack.com

Treasury Bond Maven Robert Kessler Warns of Recession Ahead & Where to Take Shelter Mar 29, 2019

Show notes

Yields on government bonds are falling across the globe. The yields on the benchmark 10-year bond in both Germany and Japan are negative for the first time in a couple of years. The European Central Bank, already announced it would hold its short-term rates below zero at least through December.

Here in the U.S., where economic growth is stronger, the Fed reconfirmed that it is on hold. The futures markets, however, are betting on a change in policy toward more easing. The Federal-Funds futures were recently pricing in a 40% chance of one rate cut this year, an expectation several Fed officials were quick to dismiss.

The bond market is signaling possible trouble ahead. For the first time since 2007 long-term interest rates, as measured by the yield on the 10-year Treasury note fell below short-term rates, as measured by the yield on 3-month Treasury bills. Known as an inverted yield curve it is considered to be a reliable indicator of recession.

This week’s WEALTHTRACK exclusive guest has long been warning of subpar economic growth globally and the risks inherent in this recovery. He has spoken about them numerous times on WEALTHTRACK. Back by popular demand is Robert Kessler, Founder, and CEO of Kessler Investment Advisors, a manager of fixed-income portfolios with a specialty in U.S. Treasuries for institutions and high net worth individuals around the globe.

Kessler is now telling clients that there is a recession dead ahead but his silver lining is that it provides an unusual investment opportunity.

WEALTHTRACK #1541 broadcast March 29, 2019.

More at: www.wealthtrack.com

Prescient Economist & Fed Expert Paul McCulley on No Recession Ahead & Fed’s Tightening Done Mar 22, 2019

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Former PIMCO strategist, portfolio manager, and Chief Economist Paul McCulley warned about the credit bubble years before it burst. What is he watching now? WEALTHTRACK #1540 broadcast on March 22, 2019.

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Building Women’s Financial Health: Award-Winning Wealth Advisor Karen Altfest Mar 15, 2019

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Helping women become financially secure is a primary motivation for Karen Altfest. Altfest Personal Wealth Management’s Principal Advisor shares her women-centric approach. WEALTHTRACK #1539 published on March 15, 2019.

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The Do-It-Yourself Retirement System Isn’t Working. Retirement Pro Teresa Ghilarducci Has Solutions Mar 08, 2019

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The retirement crisis is real. 40% of older, middle-class workers and their spouses will fall into poverty or near poverty in retirement. Economist and retirement expert Teresa Ghilarducci says the U.S.’ 40-year experiment with do-it-yourself retirement is seriously flawed, but there are ways to fix it.

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WEALTHTRACK WOMEN is featuring women who are making a difference in business and finance during Women’s History Month. Join us for career advice from three successful women entrepreneurs including S’well’s Sarah Kauss. Pension expert Teresa Ghilarducci provides timely retirement solutions. Award-winning wealth advisor Karen Altfest explains her women-centric approach.

More WEALTHTRACK WOMEN here.

While your local public television station holds its fundraising drives on weekends, WEALTHTRACK is focusing on new topics for our podcasts to help you improve your portfolios and finances.

Three Inspiring Women Entrepreneurs Share Their Unusual Routes to Success Mar 01, 2019

Show notes

WEALTHTRACK WOMEN is featuring women who are making a difference in business and finance during Women’s History Month. Join us for career advice from three successful women entrepreneurs including S’well’s Sarah Kauss. Pension expert Teresa Ghilarducci provides timely retirement solutions. Award-winning wealth advisor Karen Altfest explains her women-centric approach.

More WEALTHTRACK WOMEN here: www.wealthtrack.com/women

While your local public television station holds its fundraising drives on weekends, WEALTHTRACK is focusing on new topics for our podcasts to help you improve your portfolios and finances.

THIS WEEK:
Running your own business is the definition of a dream job for increasing numbers of Americans, particularly women. I had the opportunity to interview a panel of women business founders recently at the Women of Leadership Summit hosted by the New York affiliate of ACG, the Association for Corporate Growth. Info at: www.wealthtrack.com

Purpose Matters. Philanthropy and Social Responsibility Experts Describe the New Civic Age Feb 23, 2019

Show notes

Purpose matters, particularly to younger generations. In a recent survey of millennials by Deloitte, almost 87% of them said: The success of business should be measured in terms of more than just its financial performance, and when asked what the primary purpose of businesses should be - 63% more of them said improving society than said generating profit.

Younger generations are putting their money where their beliefs are. In its report “Impact Investing: at a Tipping Point? ” independent public charity, Fidelity Charitable found in its survey of affluent philanthropic individuals that 77% of millennials and 72% of Gen-Xers have made some sort of impact investments, that means in companies deemed socially responsible.

Doing good has become a global movement. Philanthropy expert Pamela Norley and Corporate Social Responsibility consultant Toby Usnik describe the new civic age. WEALTHTRACK #1536 broadcast on February 22, 2019.

Invest Where Others Fear to Tread for Income and Appreciation: Eaton Vance’s Kathleen Gaffney Feb 16, 2019

Show notes

If you were to name places in the world where you wouldn’t consider investing today what comes to mind? How about Venezuela where the economy is in ruins, the president discredited and the opposition mounting? Or a specific company in this country like Pacific Gas and Electric, PG&E for short, the California utility that filed for bankruptcy and bore the physical and legal brunt of the recent devastating California wild fires? Those are fertile ground for contrarian investors, or just traditional value investors who look for opportunities where others fear to tread.

Globe-trotting Eaton Vance bond manager Kathleen Gaffney looks where others are fleeing for higher total returns. WEALTHTRACK #1535 broadcast on February 15, 2018.

More at: www.wealthtrack.com

Top-Rated Research Team Members Assess the Prospect for the Economic Expansion’s Longevity Feb 09, 2019

Show notes

2019 could be a year for the record books. The economic expansion turns ten this summer, which would make it the longest recovery ever. The bull market reached that milestone in August of 2018 and despite serious fits and starts has continued its run. The S&P clocked in its best January performance since 1987 with an 8% gain. Economic expansion and bull market longevity outlook with Don Rissmiller and Nick Bohnsack, members of Strategas’ top-rated research team. WEALTHTRACK #1543 broadcast on February 08, 2019.

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