“. . . the real conundrum in modern markets is the continued reliance of investors and policymakers on two false mantras. The first is that markets are efficient; and the second is that investors are rational. Both assertions are so specious that one has to question both the sanity or the intelligence of those who cling to them.”

~ Michael E. Lewitt

Update: This article was included in the Carnival of Financial Planning #143. Thanks!

My goal with this week’s series of posts was to simply make readers aware of some of the structural problems that our markets and economy face right now. We’ve looked at some of the ways today’s markets are different, a few ways to manage your money in challenging times, and 5 investing challenges for the next decade. Today, I’d like to [...]

Read on and enjoy … Modern Portfolio Theory: Fact or Fiction?