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Portfolio Diversification

By Jeffrey J. Brown, MD, MBA, CFA®, CFP® Diversification is a popular investment strategy, and with good reason, as it is one of the gold...

Equity Premiums - A Baseball Analogy

By Jeffrey J. Brown, MD MBA CFA CFP® Investing can be analogous to baseball. The better team does not win every inning. In fact, good tea...

The Bear Market of 2020

A bear market is defined as a 20% drop from a recent high in the stock market. Most major stock markets in the U.S. and around the world ...

Why Dimensional?

When Shearwater Capital was founded in 1999, most financial advisors were recommending actively managed funds with exorbitant annual expe...

History Lessons

A fundamental principle of financial economics is the idea that risk and return are inextricably linked. However, when it comes to invest...

Positive Expected Returns

“What’s the stock market going to do?” If you have read our past newsletters, you know that we are not market prognosticators. It is diff...

Market Complacency

Since 2012, the stock market has demonstrated below average volatility and positive returns, potentially lulling investors into a false s...

Time Value of Money

The time value of money is the concept that a dollar today is worth more than a dollar next month, next year, or ten years from now. This...

Socially Responsible Investing

Socially responsible investing refers to an investment strategy that considers the potential impact of your investments on society in additi

Why Invest in Stocks?

Why do we invest in stocks? Stocks are risky. Why not just buy U.S. treasury bonds and get a guaranteed rate of return backed by the full...

How to Build Your Roth Assets: Part 2

We recommend building your retirement assets by contributing to three separate “buckets” of money: 1) traditional retirement accounts; 2)...

How to Build Your Roth Assets: Part 1

We recommend building your retirement assets by contributing to three separate “buckets” of money: 1) traditional retirement accounts; 2)...

The Randomness of Asset Class Returns

Academic research has shown that there is little predictability in asset class performance from one year to the next. To illustrate this ...

Individual Bonds: Are They Really Better Than Bond Funds?

In constructing our client portfolios, we rely primarily on DFA funds, for both equity and fixed income securities. While most of our cli...

Advisor’s Alpha

Vanguard recently published a white paper on “advisor’s alpha,” in which they discuss and attempt to quantify the value an investment adv...

How Much to Save

Two of the most common questions people ask about retirement planning are, “How much should I save?” and “Am I on track with my accumulat...

A Scientific Approach

Shearwater Capital was founded 14 years ago on a simple premise: offer an investment approach based on the best available evidence from a...

Buckets

The main goal for most investors is to save for a comfortable retirement. While each individual’s retirement planning strategy should be ...

Little Things Add Up

As an investor, you can choose between active and passive investment management. Active management is an attempt to beat the market avera...

Behavioral Finance

Behavioral finance is the study of how biased thinking can impair our ability to make good investment decisions. It helps to be aware of ...

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Financial Planning and Investment Management For Physicians, By Physicians

SHEARWATER CAPITAL