Season Investments

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The Dennis Rodman Effect

Dennis Rodman was a game changing player on the basketball court even though he was sub-par (at best) when it came to scoring. One could argue that the Pistons went from being a good basketball team to a championship team with his addition. Sometimes the whole is greater than the sum of the parts. http://www.seasoninvestments.com/insights/the-dennis-rodman-effect/

Bonds in Bondage

Bonds are an asset class that we have been giving a lot of thought to lately. Bonds are in bondage to the low rates created by loose monetary policy, and the question of what to do about it is one of the more frequent ones we field in client meetings. http://www.seasoninvestments.com/insights/bonds-in-bondage/

A Royal Divorce

Last week’s referendum vote in the UK was the culmination of a debate that has been raging for several years on whether Britain should be part of the European Union. The vote in favor of a Brexit sent shock waves throughout the global financial markets which were by and large pricing in a "Remain" outcome. http://www.seasoninvestments.com/insights/a-royal-divorce/

Mount Everest of Finance

Earlier this month more than 170,000 people in 91 countries worldwide sat for one of the three levels of the CFA exam. As a firm with both principals holding the CFA designation we are often asked about the credential, so in today’s post we will take a more in depth look at the designation. http://www.seasoninvestments.com/insights/mount-everest-of-finance/

The Right Stuff (Pt 2)

Last week I reviewed 7 of the 13 characteristics of a successful investor as laid out by author Tren Griffin in Charlie Munger: The Complete Investor. This week I'll pick up with #8 and review the last 6 characteristics. http://www.seasoninvestments.com/insights/the-right-stuff-pt-2/

Safety In Numbers

Just last month, I received an email from Van Eck trumpeting the merits of peer-to-peer lending. It was interesting to read that a $30 billion+ asset management firm would go on record to endorse the merits of the once relatively obscure space. This week we provide an update on how our P2P managed account composite is performing 19 months since inception. http://www.seasoninvestments.com/insights/safety-in-numbers/

The Importance Of A Battle Plan

For those of you who have been working with us for any amount of time you know that philosophy, process and discipline are extremely important to how we manage money. We firmly believe that there is no silver bullet when it comes to investing. http://www.seasoninvestments.com/insights/the-importance-of-a-battle-plan/

Maybe We're All Confused

We have often argued that chaos theory has a lot to teach us about global economics. The seemingly infinite confluence of factors all intersecting in the economic space time continuum make it very difficult to decipher what current data means for the future. http://www.seasoninvestments.com/insights/maybe-were-all-confused/

The Better Part of Valor

In Shakespeare’s Henry IV, Falstaff survives a battle by pretending to be dead and justifies his deception by rationalizing that, “The better part of valor is discretion.” While this line was intended to be tongue in cheek, there is certainly some truth to the statement in that courage finds a better companion in caution than in recklessness. http://www.seasoninvestments.com/insights/the-better-part-of-valor/

The Secret Sauce

At its core, trend following is a reactionary discipline that doesn’t try to predict the future based on some sort of gut conviction or analysis of the macroeconomic tea leaves. In this week’s post we will unpack Season Investments’ own secret sauce of trend following coined MarketVANE, which we apply as a long-term investment discipline to both stocks and hard assets. http://www.seasoninvestments.com/insights/the-secret-sauce/

The Trend Is Your Friend

One of the disciplines we have embraced here at Season Investments is called trend following. In its simplicity, trend following is an elegant solution to the age old conundrum of needing robust returns while simultaneously being unable to withstand the extreme volatility of risk assets. http://www.seasoninvestments.com/insights/the-trend-is-your-friend/

The Great Lie

We have dedicated countless hours of schooling and self-study to the body of academic knowledge pertaining to investment management. A significant portion of which was focused on how buying and holding financial assets for the long-term is the best investment strategy. While we don’t disagree with this line of thought, we think its limitations need to be better understood. http://www.seasoninvestments.com/insights/the-great-lie/

Extra! Extra!

A year ago we penned a four-part series on how regular consumption of the news might be detrimental to your financial decision-making. In an information-overload society we think this topic is as prevalent as ever. This week we review that four-part series. http://www.seasoninvestments.com/insights/extra-extra/

The Cost of Being Human

So many people are eager to accumulate and grow financial wealth, yet they exhibit the exact opposite behaviors needed to do so. The principles that lead to financial gain and long-term investment success are not shrouded in mystery. There is no secret sauce or hidden formula, and in theory it is really quite simple...in theory. http://www.seasoninvestments.com/insights/the-cost-of-being-human/

Deviating on the Definition of Risk

Over the next several weeks we will unpack the question "What is risk?" to explore different areas of risk people take in their finances and the best way to manage them. In today’s post we will start by looking at the most common definition of risk in finance: the standard deviation (or volatility) of portfolio returns. http://www.seasoninvestments.com/insights/deviating-on-the-definition-of-risk/

Risky Thinking

When was the last time you sat down and thought long and hard about risk? An intentional and thorough consideration of the variety of risks you’re taking in life and why. Risk is an ever-present part of nearly every area of life, and as financial market participants we know that it’s part of the equation that cannot be eliminated. http://www.seasoninvestments.com/insights/risky-thinking/

Enjoying Lower Gas Prices

The nature of our line of work is that we are in constant dialogue about economic and investment-related topics. Not surprisingly, the majority of questions and comments we've heard lately have been related to cheap gas prices, how long they will last and whether or not energy-related investments might represent a good opportunity. http://www.seasoninvestments.com/insights/enjoying-lower-gas-prices/

Average Isn't Good Enough

We often hear advice on how to save and invest, but not a whole lot of attention is given to how to stick with our savings and investment plans through thick and thin. Emotions can reek havoc on our investment returns and lead to inadequate returns for the "average investor." http://www.seasoninvestments.com/insights/average-isnt-good-enough/

The Tortoise or the Hare

All financial assets fall into one of four categories: equity, debt, currency, or hard assets. So where does absolute return fit into the mix? http://www.seasoninvestments.com/insights/the-tortoise-or-the-hare/

The Barbarous Relic

Last year was not a pretty year for gold. The spot price of fell almost 28% making it the second worst year for since Nixon took the US completely off the gold standard in 1971. This has led many to question the merits of investing in gold. So what does this mean for gold and its roll in a diversified portfolio? http://www.seasoninvestments.com/insights/the-barbarous-relic/

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