An Investment in Knowledge
Investment Theses
In 1994, two finance professors counted the last digit of Nasdaq stock quotes and found half the possible prices missing. What happened next -- an overnight collapse, a billion-dollar settlement, and the death of the eighth -- is the story of who keeps the spread.
Losing a hundred dollars hurts about twice as much as gaining a hundred dollars feels good. That asymmetry, and a shortlist of cousins like it, explains more about investor behavior than any spreadsheet does. The errors are systematic, predictable, and preventable -- if you know what to watch for.
Reference Guides
Wills, revocable trusts, and irrevocable trusts -- the mechanics, the tax treatment, and where each one breaks down. Probate, funding, ILITs, GRATs, QPRTs, SLATs, IDGTs, a full comparison table and glossary, and a ten-question knowledge check.