Weekly Notes
October 2 — Robot Hedge Fund Strategies For All: When Robinhood pitched AI-powered, hedge-fund-style products to retail investors, it was a good reminder that more frequent trading tends to hurt performance and that “sophisticated” products rarely end well for everyday investors.
October 9 — When Tax-Free Munis Aren’t Tax-Free: The note explains the de minimis rule on discounted municipal bonds and why a bond’s quoted yield can be misleading once the resulting tax bill is included.
October 16 — Which Risks Are You Willing to Be Wrong About?: Using the story of his grandparents’ CD strategy, the note shows that retirement planning is mostly about choosing which risks to take, and why the best plan is one that can bend when the world surprises us.
October 23 — AI Makes Us Better at Our Jobs: The note shows how AI tools now review estate documents in minutes, and why Jevons Paradox suggests that greater efficiency may increase, rather than reduce, demand for estate attorneys.
October 30 — Predicting the Future: Five charts show why the November midterm elections shouldn’t change how you invest, from historical post-midterm returns to valuations that don’t look like a bubble.
Media Contributions
October 14 — The Average 50-Something Is Worth $1.5 Million. Most Have Far Less (USA TODAY): Jonathan Swanburg, CFP®, is quoted on how milestones like starting a family and buying a home have shifted later in life, and on why net worth peaks in the 60s before retirees start to spend down in their 70s.
Idea Worth Repeating
“Retirement planning is mostly about figuring out which risks you are willing to take.” – Jonathan Swanburg, Which Risks Are You Willing to Be Wrong About?