How to avoid seven big cognitive biases

Human beings seem to come ready-equipped with cognitive biases related to their perceptual equipment and adaptations to the world throughout evolution. Investors who want to do better in the markets and ...

Inflation creates a ‘money illusion’

Inflation is one of the hardest concepts for an investor to internalize. We tend to think naturally in nominal prices—that is, the price on the sales sticker—rather than the inflation adjusted price. For ...

Client Letter – Q1 2006

I have some very important news to share. I recently purchased a property in the Town Center district of Macungie (just south of Allentown), and I am almost finished renovating this two-story Colonial ...