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Ken French speaks with us
about his most recent study, The Cost of Active Management. Following up on work by Burton
Malkiel, John Bogle, William Sharpe, and others, he has quantified the cost
of active management, relative to passive/index investment, both at an
industry level and at the average investor level.
The asset location issue holds the key to minimizing
the tax impact for high- and ultra-high net worth investors.
We speak with Glenn Frank, who founded the financial planning program at Bentley College and holds a patent on a tax optimization
program. He identifies 9 ways for advisors to structure portfolios in
a tax sensitive framework.
We want to highlight several provocative and interesting submissions to Advisor Market Commentaries. Two
of these are from John Mauldin of Millennium Wave. In the first, he
analyzes the surge in oil prices
and in the second he looks at the relationship
between the dollar and the Euro. If you are looking for an
upbeat market forecast, Charles Lieberman of Advisors Capital Management
discusses why we may have turned the
corner in the credit crisis.
A letter to the Editor questions Ken Kam's use of the S&P 500 as the benchmark for measuring the
performance of his Marketocracy fund.
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