Biography
A. Michael Lipper, CFA, is president of Lipper Advisory Services, Inc., a firm providing money management services for wealthy families, retirement plans and charitable organizations. A former president of the New York Society of Security Analysts, he created the Lipper Growth Fund Index, the first of today’s global array of Lipper Indexes, averages and performance analyses for mutual funds. After selling his company to Reuters in 1998, Lipper has focused his energy on managing the investments of his clients and his family. His first book, Money Wise: How to Create, Grow and Preserve Your Wealth, was published by St. Martin's Press. Lipper’s unique perspectives on world markets and their implications have been posted weekly on his blog since August, 2008.
The vast majority of investment literature for professionals is about smart buying. Most professional investors pride themselves on their timing of purchases and thus focus on current conditions. While nothing in the art form of investing is easy, buying… READ MORE ›
Often the price battle between buyers and sellers is described as the battle between fear and greed. I see the conflict as being between two vastly different sets of fears, with very little greed involved. The focus is not… READ MORE ›
On my recent one-day visit to San Francisco, I chatted briefly with a flight attendant who wanted to know whether any of the papers I was discarding would make her rich if she read them. I suggested that she should… READ MORE ›
A surviving investor is always learning beyond what is obvious from platform presentations and gaining additional insights from past experiences. As almost all the investing world knows, there is a five-hour question and answer session at the annual Berkshire… READ MORE ›
For most of human history, the prevailing belief was that we lived on the single plane of a flat earth. This concept gave order to our belief as to our place in the world and reduced the uncertainty gap… READ MORE ›
For three of the largest religions of the world, last week was an important week of cherished celebrations. Just as each of these institutions needs to look after its flock both now and in the future, financial capital investment… READ MORE ›
Book value may not be valuable. Changes in reported earnings per share is not growth. How can we use that insight to select funds?
I am focusing today on the kinds of “elevator comments” that one hears in the lift… READ MORE ›
We may believe that inflation is a relatively new phenomenon, one from the time of the birth of coins and currencies. But evidence just revealed this week proves that Albert Einstein was correct in suggesting that it was present in… READ MORE ›
All too often, we unconsciously use arbitrage selection. We compare a given result against a perceived standard. This often leads to ranking against the standard. A classic old gag is an example of comparison: A man is asked how… READ MORE ›
Almost every year on the Saturday evening nearest to February 22nd, my wife, Ruth, and I attend the birthday dinner celebration for George Washington, the first and greatest US president.At each George Washington’s Birthday celebration, The Mount Vernon Ladies… READ MORE ›