The Dumbest Idea In The World

Maximizing shareholder value may be the dumbest financial and social concept ever created. According to conventional wisdom (which rarely is either conventional or wisdom) guiding a company for the sole benefit of its shareholders, rather than stakeholders, will maximize shareholder return and societal contribution. Wrong! There are many reasons why time has proven this theory…

How “Reasonable Compensation” May Turn Out to Be Very Unreasonable

New fiduciary regulations designed to decrease investment costs might end up doing the opposite, in spite of its good intentions. The law of unintended consequences has a tendency to show up in places one would least expect. This time may be no different. The Department of Labor (“DOL”) has demanded Broker-Dealers follow “reasonable compensation” requirements…

The Art Is Not in Making Money, But in Keeping It

Jesse Livermore, the so called “Boy Plunger” and probably the greatest Wall Street Trader who ever lived, died $340,000 in debt. Many look at his life to learn the secrets of his often extraordinary trading success. A better track for financial prosperity is to study and learn from mistakes he committed in his personal life….