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I’ve been in ongoing “negotiations” with my 10-year-old daughter about whether she can have an Apple Watch, iPad, or iPhone. There is no quit in this child. When my wife and I say no to the watch, she pivots to the iPad. When we say no to the iPad, she asks for the phone. Around and around, we go.

Recently, after yet another Apple Watch request, I decided to have a little fun. I said, “We’re not buying you a watch, but how about some Apple stock instead?” Her reaction was about what you’d expect: arms crossed, eyes rolled. She asked, “What even is stock anyway?”

I explained that owning stock means owning a piece of the actual company. She told me that made no sense, reminded me it wouldn’t help her text her friends, and stomped off to her room.

Spoiler: It’s not about predicting the next headline. A Personal Look Back Lately, one of my son’s favorite activities is flipping through old family photos. At just three and a…

For many investors, the topic of concentrated stock positions can feel especially personal, particularly for those who proudly say things like, “I bought Nvidia at $40, and I’m never selling.”…

If we’ve worked together for any length of time, you know I regularly talk and write about investor psychology, especially how tuning out day-to-day market headlines can lead to better long-term results. In a world full of distractions, this mindset is more important than ever.

We live in an era of nonstop financial news. From interest rate speculation and economic forecasts to geopolitical tensions and trade policy shifts, headlines are constantly vying for our attention and our reaction.

Recently, headlines about new tariffs and another downgrade of U.S. government debt have added fresh layers of uncertainty. And naturally, these stories raise questions:

Should I adjust my portfolio? Go to cash? Do something, anything, right now?

As we move through 2025, financial markets are experiencing notable shifts, reflecting both broader economic factors and investor sentiment. These recent trends have been highlighted by the year-to-date under performance…

Recently, my colleague Tom Buhrmann wrote A Primer on Private Equity.  At a high level, he covers reasons why some investors should consider private equity investing, what the different types of private equity are, and private equity structures.   

Yesterday’s news about new worldwide tariffs and the resulting impact on financial markets is going to scare a lot of people. Whether you are someone who looks at your portfolio every day, checks periodically, or hardly ever looks at all, it would not be unusual to have some sort of impulse to take action with your portfolio. The most drastic would be to “go to cash,” presumably re-entering the market “when things get better.”
The issue is always that it will never feel like a good time to get back in. Think back to March 23, 2020…everyone was locked down in their homes, and the impact of COVID had only just begun. Yet despite the fact that people were still wearing masks and maintaining other COVID-related precautions a year + later, that day in March 2020 turned out to be a generational buying opportunity for stocks.

On the surface, it’s logical that owning a diversified basket of public stocks (individual companies and/or indexes) is reflective of the broader economy, but the data doesn’t support it. In 1996, roughly 8,000 companies were listed in the U.S. stock market. Today, that number is fewer than 4,000.

It happened pretty quickly. Everything seemed to be humming along nicely, with the S&P 500 reaching an all-time high in mid-February, and now we’ve suddenly found ourselves in a new…