Bob French, CFA
Most people try to avoid thinking about statistics, but they’re part of everything we do in investing. When other people get around to thinking about statistics, they often end up thinking about them the wrong way. Statistics is about trying to figure out the unknown based on what we have seen in the past. It’s…
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WHAT IS OCCAM’S RAZOR? Occam’s Razor is a principle attributed to William Occam, a 14th century philosopher. He stressed that explanations must not be multiplied beyond what is necessary. Thus, Occam’s Razor is a term used to “shave off” or dismiss superfluous explanations for a given event. This concept is largely ignored within the investment management landscape. This newsletter…
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We use models all the time. We are constantly making decisions based on them – everything from simple heuristics (nachos taste good) all the way up to (and including) quantum mechanics. They’re great tools for helping us understand and make sense of the world. But it’s important to understand their limitations and the dangers of…
Read MoreOur Director of Retirement Research, Dr. Wade Pfau, was recently named one of InvestmentNews’ Icons & Innovators of 2016. According to IN, the list recognizes the people who have “shaped and transformed the financial advice profession.” All told, the list includes 20 people – 18 innovators and two icons. Dr. Pfau was listed as an innovator, which…
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