Posts Tagged: Joe Duran

Learning from the woes of Sears, General Electric

Two great American companies have seen their stock prices fall off a cliff. In the early 2000s, my colleagues and I sold our investment firm, Centurion Capital, to GE Financial. At the time, General Electric was the gold standard for great American enterprises. Over the subsequent years, GE has lost over half a trillion dollars…

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Is artificial intelligence the next bitcoin?

Bitcoin has fallen almost 70% from its peak last year, from around $20,000 to roughly $6,500 currently. Breathless commentary about how bitcoin could become the next global currency has given way to sentiment that it’s just another disappointing idea that has lost a lot of money for investors. Today the new fuss in the technology…

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Time or money: Which is more important?

Time is the other major limited resource in life, yet few manage it with the same discipline with which we manage money. I recently returned from an eye-opening family trip to Spain. I met my wife in Madrid more than two decades ago when we were both studying abroad, and while the city might be…

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The problem with goals

The 2018 World Cup has come and gone. The world’s best soccer teams took the global stage in Russia, with their home fans glued to their TVs cheering and gasping with every turn of the ball. How can you not get swept up in the jubilation that erupts whenever a goal is scored? Given their…

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Always be closing? The end of selling

Financial advisers should be explaining how they can help clients, rather than pushing products on them. On a recent flight I watched a movie I’d seen decades earlier and marveled at how life has changed. The cult classic “Glengarry Glen Ross,” based on David Mamet’s Pulitzer Prize-winning play of the same name, is the poster…

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What one thing would you do to assure your firm is competitive for the next decade?

At the Icons & Innovators award ceremony held at the grand University Club in New York City I had the privilege of sharing a panel with lions of the industry: David Booth, founder of Dimensional Fund Advisors, Ken Fisher, founder of Fisher Investments, and Mark Tibergien, CEO of Pershing Advisor Solutions. The first question asked…

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3 insights on the Financial Engines-Edelman combination and how it might affect you

The combined company is likely to become a nationally dominant firm Financial Engines recently announced it was being taken private by the respected private equity firm Hellman & Friedman for $3 billion in cash, a 30% premium over the pre-announcement closing price. Financial Engines will merge with Edelman Financial, the $21 billion national RIA that…

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A Visit to India and The World’s Largest Startup

I recently spent a week in four cities across India. The trip lived up to all my expectations: The Taj Mahal was stunning, Old Delhi chaotic, Jaipur majestic, and Mumbai vibrant. The highlight, however, was not geographic, but commercial. Our group spent an afternoon with the team at Jio, one of the fastest-growing companies ever.…

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How Advisors Can Hold on to Their Clients Despite Vanguard’s Broadening Reach

During a February speech, Vanguard CEO Tim Buckley said 58% of most advisers’ work could eventually be done by computers. This would force a significant change in pricing for most in the industry. Shortly thereafter, Vanguard announced it would create factor-based index ETFs. These two events are directly linked and help explain why one of the bastions of low-cost,…

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Flash Crash: The Value of Advisors in Coping with Uncertainty

A week ago Monday, the Dow fell 1,175 points. Although that was not anywhere near a record percentage decline, it turned out to be the biggest point decline in history. After 19 months without a 5% decline from the peaks (a record in itself), volatility came roaring back, with wild swings on a daily basis.…

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