Preston McSwain
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After brexit, investors should keep calm and carry on

After brexit, investors should keep calm and carry on | Preston McSwain | Scoop.it
Yes, the Brexit vote could change a lot of things, but now is not the time to make rash, fear-based decisions affecting your investment portfolio.
Preston McSwain's insight:

What Should Investors Do After #Brexit?

 

"Keep Calm and Carry On"

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If you pay taxes, there's one huge investment you need to avoid like the plague

If you pay taxes, there's one huge investment you need to avoid like the plague | Preston McSwain | Scoop.it
Hedge funds just aren't worth it if you have to pay taxes, a painful reality that the celebrated Yale endowment might soon face..
Preston McSwain's insight:

Taxes - If you pay them, think twice before investing in hedge funds.

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“Lehman Sisters” – Would Banks Be Better If More Were Run By Women?

“Lehman Sisters” – Would Banks Be Better If More Were Run By Women? | Preston McSwain | Scoop.it
Would Lehman Brothers have been better off if it had been Lehman Sisters? In a recent Wall Street Journal article titled, Banks Run by Women Might Be Less Vulnerable in a Crisis, Toddi Gutner mentions a quote from Christine Lagarde, Managing Director of the International Monetary Fund.  In 2008, Lagarde quipped, "If Lehman Brothers had been Lehman…
Preston McSwain's insight:

Lehman, a storied firm that rose rapidly with an aggressive boys club culture fostered by its CEO Dick Fuld, but then had a spectacular fall.


Studies show that "'boys will be boys" type behavior can make men poor investors as compared to women.


Would Lehman Brothers have been better off if it was called Lehman Sisters, and had more women in positions of real power?


And, would Wall Street be a better place if more firms were currently run by women?


I think so.

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Trust and Estates Magazine - WealthManagement.com

Trust and Estates Magazine - WealthManagement.com | Preston McSwain | Scoop.it
My firm, Fiduciary Wealth Partners, continues to grow and we continue to post our ideas at our blog, which can be found at the following link: Fiduciary Ideas Recently, Trust & Estates magazine...
Preston McSwain's insight:

Thanks to Trust & Estates magazine and Wealthmanagement.com for supporting Fiduciary Wealth Partners and helping to bring transparency to investors.

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Is Bad For Business Sometimes Good? - IRIS by Preston D. McSwain

Is Bad For Business Sometimes Good? - IRIS by Preston D. McSwain | Preston McSwain | Scoop.it
Preston McSwain's insight:
Change and innovation is often resisted, and disruption can be harmful to the status quo.

Many traditional asset management firms are resisting change that will come if they are held to a true fiduciary standard.  This is understandable.  Current business models will be harmed and time and money on innovation will be required.

A recent FitchRatings press release brings the following questions to our mind:

Would changes that might harm status quo asset managers be a benefit for investors?

Is the Fitch report yet another example of why more transparency and change needs to come to how investments are developed and sold?
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Patriot Ledger: TOM BIRMINGHAM: Plan to scrap MCAS is a race to the middle - Pioneer Institute

Patriot Ledger: TOM BIRMINGHAM: Plan to scrap MCAS is a race to the middle - Pioneer Institute | Preston McSwain | Scoop.it
Read this op-ed in The Patriot Ledger, where it was originally published on March 14, 2015 Since adopting the Massachusetts Comprehensive Assessment System test, student achievement in Massachusetts has become the envy of the nation and among the best in the world. It is a record that hardly merits scrapping the test, particularly for one …
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Transparency, Simplicity and Peace of Mind – Fiduciary Wealth Partners

Transparency, Simplicity and Peace of Mind – Fiduciary Wealth Partners | Preston McSwain | Scoop.it
Preston McSwain's insight:

Versus the hot new investment product or strategy, is this what clients really value at the end of the day?

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Did Apple miss on earnings, or did analysts?

Did Apple miss on earnings, or did analysts? | Preston McSwain | Scoop.it

When it comes to predicting Apple's next quarter, should you trust Wall Street analyst's projections? Apple Inc(AAPL)

Preston McSwain's insight:

Until yesterday when Apple released what were called "disappointing earnings", only one downward earnings revision was published by Wall Street over the previous 30 days.  Even more concerning as it relates to investment analyst's projections, as of one month ago, only one moderate or strong sell rating existed.

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Yellen's comments moved markets -- but are Fed forecasts accurate?

Yellen's comments moved markets -- but are Fed forecasts accurate? | Preston McSwain | Scoop.it
Preston McSwain had the chance to have lunch with Fed Chair Janet Yellen. Are Federal Reserve forecasts, no matter how well studied, thoughtful and judicious, consistently accurate?.
Preston McSwain's insight:

Hearing Janet Yellen speak at the Economic Club of New York was impressive and markets moved, but my thoughts kept coming back to the following question from a client:

 

"Are Federal Reserve forecasts accurate?"

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Too Much Of A Good Thing?

Too Much Of A Good Thing? | Preston McSwain | Scoop.it
When is too much of a good thing a bad thing? As I write this on a Sunday following a big dinner, my first thought related to the title of this post was my "yes" last night to both an after dinner drink and yummy desert. They both seemed like a good idea at the…
Preston McSwain's insight:

Do we push our children too hard sometimes in school?  #education

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Pavlov’s Brokers? – Fiduciary Wealth Partners

Pavlov’s Brokers? – Fiduciary Wealth Partners | Preston McSwain | Scoop.it

The next time you hear an exciting investment pitch, remember that the things that your broker is excited about may have a lot more to do with Pavlov, and the ringing of the commission bell, than with your portfolio returns or peace of mind.

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Complex Financial Products and High Fee Products at Risk - Oh My...

Complex Financial Products and High Fee Products at Risk - Oh My... | Preston McSwain | Scoop.it
Fitch Ratings warns the proposed fiduciary rule language
from the DOL would substantially impact current adviser and investment fund
provider business models.
Preston McSwain's insight:

Is What is Bad for Current Asset Management Business Models Good for Investors?


Fitch Ratings, the big credit rating firm, just issued a report about how the Department of Labor's (DOL) pending Fiduciary Rules might impact asset management firms.


The following is a direct quote from the Fitch report:


"The proposed rules raise the risk of regulatory enforcement and or trial bar litigation, and will likely force RIAs to do more to prove that a client's product choices indeed meet the individual's best interests. The new proposals could curb the willingness of agents to promote complex and higher fee products. Asset managers and insurance companies would also bear responsibility for examining distribution policies and commission structures paid to independent and affiliated distributors that sell many of the investment products reaching retirement accounts."


The full press release from Fitch can be found by clicking on the link listed below.


Fitch: US Labor Proposals May Squeeze Complex Financial Products


Fitch is doing what they should do, raise a red flag on behalf of those who invest in asset management companies.  The alert is suggesting that investors beware.  The DOL's proposal might impact profit margins and diminish the case for investing in asset managers.


Are the quotes above the best example yet of why more transparency and change needs to come around how investments are developed and sold?





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Warren Buffett’s investing tip for LeBron James: Stick with an index fund

Warren Buffett’s investing tip for LeBron James: Stick with an index fund | Preston McSwain | Scoop.it
Warren Buffett isn’t recommending stock picking, real estate or gold to LeBron James. He says go with an index fund.
Preston McSwain's insight:
Good reminder from Warren Buffett for the start of the quarter that matches our philosophy at Fiduciary Wealth Partners. 

Buffett's most recent advice to LeBron James:

"Usually the simplest is the best"
and
"Investments in a low-cost index fund makes a lot of sense”
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