Can You Afford Private School Tuition Costs?
I was recently asked by a local media outlet to comment on the costs of private school tuition. Wes suggested that I share these thoughts [...]
About David Foulke
David Foulke is an operations manager at Tradingfront, Inc., a provider of automated digital wealth management solutions. Previously, he was at Alpha Architect, where he focused on business development, firm operations, and blogging on quantitative investing and finance topics. Prior to Alpha Architect, he was involved in investing and strategy at Pardee Resources Company, a manager of natural resource and renewable assets. Prior to Pardee, he worked in investment banking and capital markets roles at several firms in the financial services industry, including Houlihan Lokey, GE Capital and Burnham Financial. He also founded two internet companies, E-lingo, and Stonelocator. Mr. Foulke received an M.B.A. from The Wharton School of the University of Pennsylvania, and an A.B. from Dartmouth College.Are Some Decisions to Allocate to U.S. Equities Due to Survivorship Bias?
The CFA Institute Magazine recently published an interview (a copy is here) with C. Thomas Howard, CEO of Athena Investment Services. Howard has some pretty [...]
Where are the Cheap Firms Internationally?
Last week, Wes had a short post entitled, Where are the Cheap Firms? The post showed that when we look at the cheapest stocks in [...]
Humble Pie Prevents 99.8% Drawdowns
It’s not every day you hear news of a 99.8% drawdown, but it looks like today is one of those days. Owen Li of Canarsie [...]
Have Hedge Funds Been a Disappointment? Cliff Asness Weighs In
Fortune published a great interview with Cliff Asness a few months ago, in which he breaks down hedge funds, recent performance, and why the critics [...]
The Amazing Unbeatable Poker Algorithm
Everyone remembers when Deep Blue first defeated Gary Kasparov, but recently computers have begun quietly edging past humans in another human game: poker. The journal [...]
Global Economic Perspectives from a Pragmatic Capitalist
Cullen Roche, who runs the finance and economics blog, Pragmatic Capitalism, is the ultimate "top-down" investor, and recommends that investors think globally, rather than locally when [...]
Book Review: Pragmatic Capitalism
Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance Cullen Roche The book can be found here. Want to see all our book [...]
Thanks to Our Vets
I have the privilege to work with 2 partners who served in the Marine Corps from 2004-2008: Captain Wes Gray and Captain Pat Cleary. Both [...]
Book Review: Dual Momentum Investing
The Momentum Investment Philosophy: An Innovative Strategy for Higher Returns with Lower Risk Gary Antonacci The book can be found here. Want to see all our [...]
Behavioral Bias Bingo — Mental Accounting
Mental Accounting and Your Money "Mr. and Mrs. L and Mr. and Mrs. H went on a fishing trip in the northwest and caught some [...]
Behavioral Bias Bingo — The Illusion of Control
The Illusion of Control In most elevators, at least in any built or installed since the early nineties, the door-close button doesn’t work. It is there [...]
The Remarkable Truth about 52-Week High Stocks
Pop quiz: A stock you own just hit a 52-week high... Does it make you nervous? On Wall Street, there are many highly publicized metrics that [...]
Forecasting Bias: From Weather to Wall Street
Providers of forecasts often want to be right, but they also don’t enjoy surprising people on the downside. People don’t like nasty surprises. For instance, [...]
Cliff Asness: Be Realistic About 2.5% Real Returns
Cliff Asness had a great interview with Steve Forbes back in April (a copy is here) that highlights the dilemma facing investors today: stocks and [...]
Behavioral Bias Bingo: Confirmation Bias
Confirmation bias leads to the selective use of information It is easy to obtain confirmations, or verifications, for nearly every theory - if we look [...]
Top 10 Reasons Financial Advisors Stink
We were sitting around the office today discussing the type of financial advisor we'd like to be. Then it struck us. What would Charlie Munger [...]
Behavioral Bias Bingo: Decoy Effect
“When my information changes, I alter my conclusions. What do you do, sir?” - John Maynard Keynes How does the Decoy Effect work? Here is [...]
Bull Market? Sell the Front Page, Buy the Back Page
We are always on the lookout for market views and commentary. Below, we present commentary from a friend of Alpha Architect who is an avid market [...]
Behavioral Bias Bingo: Trophy Effect
Hard work ≠ Value "Imagine you play in a tennis tournament at your local club. As your opponents are of the same strength as you, [...]