Author Archives: Rick Lesan, CFA

In case of emergency, walk, don’t run…or better yet, don’t go anywhere

Oil lower by over 50%.  Greece possibly leaving the Eurozone.  Hints of global deflation, especially in Europe.  Russia continuing to cause problems in Eastern Ukraine.  China feeling a slowdown coupled with concerns about its enormous shadow banking sector.  ISIL causing … Continue reading

Posted in Investment Philosophy, Market Thoughts | Comments Off on In case of emergency, walk, don’t run…or better yet, don’t go anywhere

What Frontier’s strategy is…and is not

This is probably no surprise, but I thoroughly enjoy talking about investing strategies with people.  I’ve realized over the years, however, that most don’t share this interest.  In fact, most are happy to know as little as possible about the … Continue reading

Posted in Investment Philosophy, The Business of Investing | Comments Off on What Frontier’s strategy is…and is not

2015 Predictions

“Prediction is very difficult, especially about the future” – Unknown Every time the calendar year rolls over, investment pundits scramble to explain last year and predict the next.  I spend the first couple weeks of each new year looking over … Continue reading

Posted in Economics, Investment Philosophy, Market Thoughts | Comments Off on 2015 Predictions

Frontier Advisors Strategies Turn 4 Years Old!

I want to report on how the models I’ve created for managing client assets have performed now that they’ve established a long enough live history to be relevant. I’m the first to admit that 4 years is still very short … Continue reading

Posted in Investment Philosophy | Comments Off on Frontier Advisors Strategies Turn 4 Years Old!

A good use of two minutes…

Here might be the most insightful two minutes I’ve heard in a long time.  It’s an  NPR commentary from Bob Reich, a professor at UC Berkeley and the Secretary of Labor under President Clinton.  Basically, he’s saying that both the … Continue reading

Posted in Economics | Comments Off on A good use of two minutes…

Knowing what we don’t know

There was an interesting article in the New York Times a few days ago (“Testing What We Think We Know”) that discussed the exorbitant amount we spend on medical procedures that don’t do what we thought they would.  Often times … Continue reading

Posted in Investment Philosophy, The Business of Investing | Comments Off on Knowing what we don’t know

Calculating advisory fees fairly for both client and advisor

Most investors who have their portfolios managed by “fee-based” investment managers should wish the second quarter of 2012 ended a day earlier.  Today, the last day of this quarter, the global equity markets are up over 3%.  Since the vast … Continue reading

Posted in Ethics in Investing, The Business of Investing | Comments Off on Calculating advisory fees fairly for both client and advisor

Let’s stop kidding ourselves about “risk management”

One of the more popular marketing ploys in investing these days is to claim “superior risk management”.  It seems every manager and every strategy today highlights that they are supremely focused on risk, implying either that they are better at … Continue reading

Posted in Investment Philosophy, The Business of Investing | Comments Off on Let’s stop kidding ourselves about “risk management”

Is wealth being created with the Facebook IPO?

I just heard one of the knuckleheads on CNBC remark that we are observing “wealth being created” by today’s Facebook IPO and that it is a good thing.  By his analysis, America is better off today than it was yesterday … Continue reading

Posted in Market Thoughts | Comments Off on Is wealth being created with the Facebook IPO?

Vanguard founder Jack Bogle is an icon, but he needs to refine his rant…

I can’t say enough good things about Jack Bogle, who has been THE paragon for prudent and sound investing for the last four decades.  He has, to my knowledge, been completely consistent in speaking out about the negative impact of … Continue reading

Posted in Ethics in Investing, Investment Philosophy, Taxes, The Business of Investing | Comments Off on Vanguard founder Jack Bogle is an icon, but he needs to refine his rant…