Research

09 Mar: Buy and Hold or Buy and Hope?

Following the recent ascent of the Japanese stock market, one is reminded of the risk that a buy and hold strategy may not always prove successful.

As a teenager growing up in the late 1980s, it seemed all but certain that Japan was taking over the world. Japanese investors notably bought Rockefeller Center as well as the storied Pebble Beach Golf Course for incomprehensible sums of money at the time.

27 Feb: BOXX as an Alternative to T-bills

The BOXX ETF provides returns that closely track those of Treasury bills. Due to a quirk in the US tax code, BOXX ETF profits are taxed as capital gains, not investment income. That means that long-term holders of BOXX pay long-term capital gains rates which can be much lower than ordinary income tax rates. Investors who hold Treasury bills in taxable accounts should consider replacing them with BOXX.