Clients generally understand how our low-turnover methodology equates to better returns over time. For example, with enough tax deferral, an 8% return can be augmented to a 10% return (in dollars). But that’s not all. Preserved gains that remain untaxed until death are tax-free in many circumstances. This can make low-turnover methodologies even more compelling….
There is nothing more mesmerizing than eye-popping percentage returns. While investors equate high returns to transactional intelligence, studies routinely show that randomness and luck are the far more likely explanations. Investors often don’t fully appreciate that all percentage returns are not created equal. These occasional high returns earned by aggressive investments give them a marketing edge when investors…
Gil published a piece in Forbes Council titled, “The Profound Power Of The Unrealized Gain.” Unrealized gains have a benefit that doesn’t show up in percentage return. “Money managers and hedge funds hang their hats on their trading prowess and the glory of periodic home runs. Any success they have provides good cover for the…
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