Four years ago, we published a white paper titled A Changing Monetary Regime. At the time, inflation was widely viewed as a temporary consequence of the pandemic, and many investors believed interest rates would eventually return to the extraordinarily low levels that had defined the previous decade. Our view was
Every so often, we come across a podcast that is worth sharing. The legendary Jeremy Grantham of GMO was interviewed on Bloomberg's Odd Lots podcast. Whether you agree with all of his conclusions or not, we would encourage you to spend an hour with the discussion. We found
There is a phrase we have used over the decades: The Arrogance of the Modern. It is the quiet assumption that because we possess more information, faster communication, and increasingly advanced technology, we must therefore be less vulnerable to the same emotional and collective mistakes that shaped prior generations. Every
With tax season now in the rearview mirror, we have a simple request: set aside 30 minutes and reread your estate planning documents. Don't approach them with a legal eye. Leave that to your attorney. Instead, read them with a much simpler question in mind: "Does this
One of the more influential investment books written in recent decades was Winning the Loser’s Game by Charles Ellis. The premise was borrowed from professional tennis. Amateur matches are often won through spectacular shots and aggressive play. Professional matches, however, are more frequently decided by unforced errors. At the
Note: At the beginning of the year, we decided to move to a quarterly distribution that would incorporate both our perceptions of market movements and events and more traditional wealth management topics (no matter how boring they are). In the last piece, we spent some time on the idea that
The first quarter of 2026 served as a reminder of how quickly market narratives can shift when geopolitical and macroeconomic forces collide. What began as a relatively stable backdrop—with expectations for two Federal Reserve rate cuts during the year—quickly gave way to a more uncertain environment. The Iran
The railroads ruined a generation of investors and built a nation. The same could be said of the early internet. In both cases, capital rushed in faster than the economics could justify, prices eventually broke, and the headlines declared a cautionary tale. What they missed was what had been left
Not all accounts are the same. Two statements might look nearly identical—similar balances, familiar names—but the way they are structured can lead to very different outcomes over time. The type of account and the way it’s titled quietly shape how assets are taxed, how they can be
Auour has been evolving the technology we use to communicate with clients and friends. Alongside those changes, we thought it was a good time to adjust the rhythm of our outreach. This note is the inaugural issue of the new format, which we hope will prove to be an improvement.
The 15-Minute Check That Prevents Expensive Financial Mistakes When something goes wrong financially, people usually assume the markets were the cause. But most expensive financial mistakes don’t start with markets. They start with paperwork. An old beneficiary form. An account titled in a way that made sense years
If you want a simple place to start, here’s a short checklist that many people can work through in about fifteen minutes. Accounts & Ownership ☐ List every financial account (brokerage, retirement, bank, insurance, business interests) ☐ Confirm who legally owns each account ☐ Flag accounts that were opened years ago and
