A critical distinction between individual and institutional investors is the relative importance of after-tax returns. Many institutions,...

Proposed Tax Changes (with thanks to Akram and Associates ) On September 15th, the House Ways and Means Committee approved its sections...

One of my favorite heuristics for determining an investor’s willingness to take risk and, subsequently, an appropriate asset allocation ,...

Everything looked rosy for stock investors early in September. The S&P 500 added to its impressive gains and notched a new all-time high...

A key pillar of Invariant’s investment philosophy is that “ Behavioral mistakes can derail even the best investment plans and strategies...

Concentrated positions, whether publicly traded or privately held, have implications on clients’ financial plans. They can arise from...

A key pillar of Invariant’s Investment Philosophy is that portfolio management and financial planning need to work together. It sounds...

The Standard and Poor's 500 index is the most widely watched U.S. large cap index by investment professionals. It has appreciated...

Factor Investing: The Profitability Factor This post will introduce Invariant’s large cap U.S. single stock strategy – Profitability...

Stocks and the economy delivered impressive gains in the second quarter as the world continued to emerge from the COVID-19 pandemic....

The first tenet of Invariant’s investment philosophy is “The primary determinants of investment success are appropriate asset allocation...

Creating a financial plan is the first step toward building a successful Advisor/Client relationship – mapping the investment strategy...