In the spring of 2019, MFO ran a two-part series on the investment implications of climate change: The Investor’s Guide to the End of the World and The Investors Guide to the End of the World, Part 2: Concrete advice. The former laid out the scientific consensus behind the human role in climate change and explained the four ways in which even the broad perception of climate change would affect your portfolio through a combination of physical, biological, regulatory, and reputational risks. We finished with three investment strategies (divest, invest, innovate) and two fund recommendations: Brown Advisory Sustainable Growth Fund (BIAWX) and Green Century Balanced (GCBLX). Since then, Brown returned 27% (versus 7% for its peers) and Green Century made 8.8% (versus 4% for its peers).

Our second article reviewed the investing recommendations of Continue reading →

I listened to Peter Navarro’s lecture, “The Modern Scholar: Principles of Economics: Business, Banking, Finance, and Your Life” (2005) on a recent return flight to the U.S. The discussion on budget deficits was timely. The planes, airports, and hotels had very few travelers. The hotel shuttle to the airport was not running. Coronavirus cases are increasing with vaccines not expected until early 2021. For reasons described in this article, I reduced my exposure in July for stocks from 25% to 20% by trading higher-risk funds that have risen this year for less popular funds such as value as well as Continue reading →

Value investing – the simple notion that it’s not a good idea to overpay for the stuff you buy – makes enormous intuitive sense. Two indisputable facts about value investors: Continue reading →