Author Archives: Rick Lesan, CFA

14 Weeks of Summer, Week 3: ETFs vs. Mutual Funds…Which is Better?

To keep this post reasonably short yet useful, I’m not going to spend time on defining or explaining the exchange traded fund (ETF).  If you want to learn more, a great place to start is ETF University at etf.com, or … Continue reading

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14 Weeks of Summer, Week 2: Diversified or Di-WORSE-ifed?

Diversification is an investment term most are familiar with, and it’s an issue all investors must confront.  Most simply, it’s the act of spreading risks out with the goal of improving one’s overall risk/reward ratio.  But in an effort to … Continue reading

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14 Weeks of Summer, Week 1: Some Perspective on the Upcoming Fiduciary Rule

On June 9, 2017, the Department of Labor’s Fiduciary Rule goes into effect.  In short, it requires that anyone providing advice to tax-deferred or tax-free retirement accounts for a fee must put the investor’s interests before their own.  While the … Continue reading

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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

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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

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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

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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

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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

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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

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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

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