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Robots Take on Investing

 April 12 2017     Matt Woebkenberg
After already picking on fast food workers, lawyers, and drivers in our robot posts, I should also mention that robots are coming after my job as well.  The big news recently was that BlackRock, the largest asset manager in the world, was cutting jobs among its human stock pickers in favor of "robots" (Fortune, WSJ $$$).  This is a growing trend around the investment industry from robo-advisors to...

Would you invest?

 April 11 2017     Matt Woebkenberg
Following is a hypothetical investment opportunity.  Hopefully it shows why it is important to look at the financials of a company that you invest in, and why it is so difficult to accurately pick individual stocks.Steve is selling 5% of all of his future net earnings (after paying his expenses).  For a price of just over $54,000 you can have exclusive rights to 5% of Steve's net earnings for the ...

Cincinnati Experiences Widespread Economic Strength

 April 10 2017     Matt Woebkenberg
Near the end of last month the Federal Reserve Bank of Cleveland reported the Cincinnati region is experiencing the strongest growth out of all the other regions in the state. A couple of highlights in the report note:The region’s unemployment rate remains well below its 2007 pre-recession readingsThe number of jobs has also recently surpassed its pre-recession high, as has the level of real per c...

Higher Oil Prices Face Strong Headwinds

 April 8 2017     David Templeton
Since March 27 spot WTI crude oil has moved higher by 11% increasing from $47.02/bbl to $52.25/bbl. This rise in price has occurred during a period when crude inventory levels in the U.S. continue to rise. This increase in crude inventory levels is taking place at a time when the drilling rig count continues to increase as well. Historically, an increase in rig count has coincided with higher crud...

HORAN Capital Advisors Q1 Investor Letter

 April 7 2017     Matt Woebkenberg
In lieu of the regular Friday Financial Terms post (which will be continued next week), I wanted to direct all readers to our newsletter for the first quarter of this year.  To summarize the letter, though markets may appear expensive by many traditional valuation metrics, this should not change investors' near term decisions.  Timing in and out of the market is very dangerous and often counterpro...

Spring 2017 Investor Letter: A Stable First Quarter

 April 6 2017     David Templeton
Our Spring 2017 Investor Letter reviews the low volatility first quarter. Prior to March 21st, the S&P 500 went 109 straight days without closing down more than 1% en route to a 6.07% gain for Q1 2017. The first quarter market gains also came with unusually low volatility as measured by the VIX Index; the key index for measuring short-term volatility. Pundits have largely attributed the steady p...

Estate Planning

 April 6 2017     Matt Woebkenberg
Lessons from Prince.  As you all know, Prince died last April of an overdose.  As with any sudden death, it was a tragic loss and mourned by many.  The difference in this case, however, was that Prince died with an estimated net worth of $300 Million and even more importantly, he did not have a will.  A recent article in the Wall Street Journal commented on how many of the details of Prince's esta...

Domestic Politics: Taxes

 April 5 2017     Matt Woebkenberg
After an unsuccessful bid to re-shape Health Care, the Republican led government appears to be turning its attention to the tax code.  The tax code is an enormously important factor for businesses and thus for the domestic economy as a whole.  There are wide-ranging issues to be addressed in any restructuring of the tax code, but one of the most important is the high rate of corporate taxation.As ...

Investor Returns vs. Fund Returns

 April 4 2017     Matt Woebkenberg
When investors are selecting a fund to invest in, they inevitably look at the performance history of the available funds.  Though it has been repeatedly proven that past performance is a terrible predictor of future performance, investors always look at performance.  An often overlooked piece of performance information however, is investor returns vs. fund returns.  Investor returns are what actua...

Human Capital - Investing in Yourself

 April 3 2017     Matt Woebkenberg
Outsourcing today's blog post to Of Dollars and Data.  Please visit the linked post because it does an excellent job explaining the importance of human capital in understanding your own financial well-being.  Your human capital is the value of your future earnings and this obviously decreases with age.  Saving and investing, then, are necessary to replace your income once your human capital runs o...
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