Practical analysis for investment professionals 
In his presentation at the CFA Institute Wealth Management 2013 conference, financial adviser and blogger Michael Kitces offered a framework for tackling two fundamental client questions: How much can I safely spend from this portfolio without needing to worry about the markets? And, if I want to spend X, how much money do I need in the account to safely retire? Read more
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Mark Harrison, CFA, rounds up the latest thinking on gold as an investment and basis for monetary systems. Read more
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Fidelity’s Andrew T. Fay estimates that the expense of running a single family begins to be justified at approximately $300 million in assets. Those who opt to pool expenses in a multifamily office, however, are sacrificing some degree of customization. Read more
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As we come upon the close of the first quarter of 2013, most major equity indices around the globe are showing impressive gains, buoyed by continued monetary easing by central banks and hopeful signs of economic resurgence. While investors will likely look for confirmation in upcoming earnings reports, the recent negative preannouncement from economic bellwether FedEx (FDX) should serve as a reminder that profit margins are near all-time highs and could represent a significant hurdle for stocks. Read more
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High-net-worth investors aren’t yet convinced that their investment managers are earning their keep. So said Scott Welch of Fortigent at the opening session of the Wealth Management 2013 conference in Boston today. “One of the few tangible things you can produce to prove you’re earning your fees is the performance report,” Welch said, adding that in his view, the current state of reporting is “shockingly bad.” Read more
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The Graham and Dodd Awards recognize excellence in financial writing and honor Benjamin Graham and David L. Dodd for their enduring contributions to the field of financial analysis. Read more
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