2013 Investment Letter Archive

December 2013
IS THE U.S. STOCK MARKET IN A BUBBLE?
U.S. stocks are up another 25%+ so far in 2013, and are now at new all-time highs. Many investors are starting to wonder “how long will this last”? … >more

November 2013
YEAR-END TAX PLANNING 2013
November is an excellent time to review your income and tax situation for the year. There are many tax increases in 2013 to be aware of for high income families (income over $250,000 married or $150,000 single), particularly those who are residents of Minnesota … >more

October 2013
FOCUS ON WHAT YOU CAN CONTROL
Most investors and the media spend a lot of time talking and worrying about things they can not control or predict. They often believe that successful investing depends on having a good forecast of the future, preferably by an expert with a good track record… >more

September 2013
INTEREST RATES UP, BOND PRICES DOWN
Over the past couple of months, U.S. interest rates have increased nearly one full percentage point. Bond prices typically move in the opposite direction of interest rates, so most bonds have fallen in value over the past couple of months… >more

August 2013
ALTERNATIVE INVESTMENTS — A BETTER WAY
Many investors are frustrated with the current investment choices in traditional stocks and bonds, and are looking for other alternatives. U.S. stocks have recently set new all-time highs, making them certainly less attractive than they were a few years ago… >more

July 2013
INVEST LIKE A STOIC NORWEGIAN?
Norwegians are famous for being stoic and unemotional, which is actually an advantage when it comes to investing. I am Norwegian. The country of Norway has one of the largest investment portfolios in the world at approximately $700 billion… >more

June 2013
SIMPLIFYING SOCIAL SECURITY BENEFITS
Americans lead complex lives. There are so many different options to evaluate as you retire, it can make your head spin. There are Medigap policies, Social Security applications, pension benefits (if you are lucky), and withdrawal plans from your investments, just to name a few… >more

May 2013
ARE YOU SAVING ENOUGH? FIDELITY SAYS YOU NEED 8X SALARY
Are you saving enough? Most Americans are not saving nearly enough for a comfortable retirement. Fidelity Investments recently came out with some guidelines to help people see how much they need to save to be successful in retirement… >more

February 2013
ECONOMIC FREEDOM AND STOCK MARKET RETURNS
Do countries with higher levels of economic freedom lead to better stock market returns? Since we are global strategic asset allocators, this is an interesting question for us. Many investors are concerned with the direction of U.S. Government policies … >more