Many advisors' portfolios of various funds, strategies, and managers effectively turn out to be the market portfolio but with significantly higher costs.
Zombie Market Primer
I see multiple symptoms of a dysfunctional market whereby product mechanics have displaced due diligence and resulted in widespread malinvestment.
Foregoing Due Diligence
Robo-advisors and broad market index strategies involves little to no due diligence regarding the price paid (valuation) or asset quality.
Tea Leaves: Corporate Cash Trends
This article looks at US corporate cash flow trends. My research indicates easy money is drying up and companies are increasingly getting squeezed for cash.
