Private Clients

With the economic outlook constantly changing, and Congress enacting bills like the Tax Cuts and Jobs Act and the recently enacted Secure Act, Telos Asset Management’s unique blend of expertise in tax, retirement planning and wealth management can be a critical factor in helping you reach your long-term goals.

Check out our thought leadership below to get a better understanding of how we think.

Better Decisions By Overcoming Our Cognitive Bias

Overcoming Our Cognitive Biases We started a series on decision-making back in June when we introduced the concept of Level 1 and Level 2 thinking from Daniel Kahneman’s book “Thinking Fast and Slow.”  The main goal of the series (Thinking Fast and Slow, Fast and Slow 2, Good to Great to Bad) was to explore how cognitive biases …

Where Are All The 400 Hitters?

Where Are All The 400 Hitters? Between 1876 and 1941 there were 28 Major League Baseball players who batted +400 in a season (according to Wikipedia!). From 1942 to 2018 there have been zero. In the seventy-six years that have passed since Ted Williams achieved that feat, not one single major league baseball player has hit …

Better Thinking

Better Thinking…  This Insight is the second part of our series on decision making. Applying some of the information from Thinking, Fast and Slow, we are diving into the research from Nobel Prize winner Daniel Kahneman and how he breaks down our decision-making process into two systems.  Notes from our last Insights: To keep things simple Kahneman breaks down our thinking …

The Fallacy of the Formula

The Fallacy of the Formula What do Circuit City, Fannie Mae and Pitney Bowes all have in common? If you answered that they have all been remarkable failures in the past eighteen years, you would be half-right. If you answered that they have all been remarkable failures AND were three of the eleven “Great Companies” …

Thinking About How We Think

Decisions…. Decisions…. The world is complex, and it can tax our mental resources to process all the information that is coming our way. To keep up with all the data that our minds are processing, we come up with time-saving (and energy-saving) rules of thumb, called heuristics. We may be applying these heuristics unconsciously, and …

Risk Parity – “It’s about balance!”

Risk Parity – “It’s about balance!” The Risk Parity approach to investment management is changing the way some of the largest pools of capital manage their money. Originally developed by Ray Dalio and his team at Bridgewater Associates back in the 1990’s, this approach attempts to build portfolios that can handle a variety of economic …

Extreme Valuation Gaps

The Cyclicality Of Growth If you had observed fashion trends over the past four decades you would have seen bell bottom jeans, tapered jeans, boot-cut jeans along with those awful skinny jeans. Fashion trends go in and out style without much rhyme or reason, but what about investment trends? Do investment styles work for a period of time …

Last Decade’s Losers

Next Decade’s Winners Nuclear energy, invisible computers, jetpacks and vacations on Mars… Futurists, government agencies, academics and hucksters have been making predictions for decades. Some predictions are overly optimistic, some are fairly accurate, and some are simply crazy. Here are a few predictions from decades past about what life would be like in 2020: 1. …

Patientia – The Not-So-Secret Sauce

Patientia ”Repetitio est mater studiorum” is a Latin proverb that says “Repetition is the mother of learning.” We are going to repeat a theme from the past because one of the biggest mistakes made by investors has the simplest of fixes. If one were to study the traits that John Templeton, Warren Buffet, Benjamin Graham or Ray Dalio shared …

Flip Flops Are Not Just For Politicians

Flip Flops Are Not Just For Politicians Sometimes interest rates do them too! If you happen to have read the Wall Street Journal the weekend of April 6th, you may have concluded that we are in the middle of a nice smooth rising market “with stocks climbing for the seventh trading session in a row, capping a …

Investing Through A Recession

The Risk of Investing Through a Recession Today’s Insight is a five-minute read. You can scroll right to the bottom to get the summary, but we may be stating the obvious. We encourage you to scroll through the full article before reading the summary, because some of the data is actually quite interesting! The level of …