KNOWN UNKNOWNS   How could I say no? A group of fellow soccer parents wanted to field an adult, co-ed indoor soccer team.  I wasn’t

BARBED WIRES It’s easy to forget that we’re investing for our long-term goals, many of which will not come to be for a decade or

HOW MUCH CAN YOU SPEND IN RETIREMENT? The most common financial planning and investment question I get from clients and prospective clients alike is: How much

WHAT CAN RETIRED INVESTORS LEARN FROM BANK COLLAPSES? The collapse of Silicon Valley Bank and Signature Bank in the last few weeks—the second and third

HOW TO RESTART YOUR RETIREMENT PLAN A recent article on Fox Business reported shocking findings from the 2022 Fidelity State of Retirement Planning Study: “More than 40% of

SILICON VALLEY BANK AND SENSIBLE INVESTING You’ve probably heard that Silicon Valley Bank (SVB) folded last week, the 16th largest bank failure in history.  Stock

THANKS DAN. Dan Wheeler passed away this weekend after a battle with pancreatic cancer.  I’ve mentioned several financial industry-related names in my articles over the years

DFA FUNDS: ANYTHING BUT ONE-DIMENSIONAL When I first started using DFA mutual funds to invest client portfolios over 20 years ago, it was with a

BUYING ROSES AND BUYING INVESTMENTS   Happy Valentine’s Day! Dimensional posted this video to their website today and I wanted to share it with you.

THE BEST INVESTING APPROACH JUST TURNED 50 Many investors today believe that traditional index investing—buying and holding a broad basket of stocks and/or bonds to

2022: THE GOOD, THE BAD, AND THE UGLY With last year firmly in the rearview mirror and annual reports on their way out the door,

A LITTLE FULL, A LOTTA SAP Every year after Thanksgiving, my family heads to a remote Christmas tree farm in Edmond to get a real

THE BENEFITS OF A COOL HEAD “Everyone I talk to has lost a ton of money this year; what’s going on?”   I’ve heard this question

TIME THE MARKET AT YOUR PERIL Technology enables immediate access to everything wherever and whenever we want it. In many cases, such as staying in

THE BONDS ARE ALRIGHT No one enjoys a stock market decline, but asset class investors don’t have much to complain about this year.  While the

TRUST THE ADVISOR WHO TRUSTS MARKETS With over 200,000 financial advisors in the United States, how do you pick one? First, eliminate the stock pickers.

THE ROCKY ROAD TO REAL RETURNS Stocks have historically been the best investment for long-term investors to combat the costs of higher inflation. Small cap

KEEPING A COOL HEAD WHILE OTHERS ARE LOSING IT It has been a tough year for investors as diversified stock portfolios have declined by almost

Ten obstacles to investing and how to overcome them By David Booth We’ve learned a lot about investing over the past 60 years, a period

IS IT TIME TO ABANDON INTERNATIONAL STOCKS? Investors are running out of patience with international stocks.  I even hear rumblings from Servo clients, who have

LOWER PRICES MEAN HIGHER EXPECTED RETURNS Investing is the only area of our lives where we celebrate higher prices and bemoan lower ones.  Think about

FORECASTING NOT REQUIRED There seems to be a lot of focus in the financial media lately about what will happen next: with interest rates, inflation,

VOLATILITY FATIGUE Global stocks have been bouncing up and down—but mostly down—for all of 2022.  This is not an atypical market, for example, 2020 was

THE BIGGEST RISK WE FACE IN RETIREMENT AND HOW TO AVOID IT     With stocks down about 20% in 2022, you might expect me

PLAN FIRST Many potential Servo clients I’ve talked to this year are in the same situation.  Their portfolios are extremely overweighted, or in some cases,

GOT VALUE? Value stocks have had higher long-term returns than growth stocks.  In the US market, going all the way back to 1926 through April

BEWARE OF BEAR MARKETS? One of the best selling investment books of all time was written by Professor Jeremy Siegel, “Stocks For The Long Run.”

WORRIED ABOUT STOCKS? WHY LONG-TERM INVESTING IS CRUCIAL by David Booth, DFA Executive Chairman and Founder  We are living in a time of extreme uncertainty

IS IT DIFFERENT THIS TIME? One of the hardest parts about staying invested when markets go down is the feeling that “this time it’s different.”

IS NOW A GOOD TIME TO SELL STOCKS? After stocks have fallen for a time, it’s common for investors to ask themselves whether or not

WILL INDEX FUND INVESTORS SURVIVE INFLATION? Inflation continues to be the big topic on investors’ minds—for good reason.  As the price of the goods and

THE BIGGEST COST OF INVESTING “In one large-scale experiment,” writes Ethan Cross, “a group of scientists gave people a choice: do nothing and have a

CAN SENIORS HAVE TOO MUCH IN STOCKS? According to the British Medical Journal in 1995, a 29-year old construction worker walked into an emergency room after landing

VALUE’S REVENGE It’s been a long and painful stretch for value investors—those who emphasize stocks in their portfolios with the lowest-relative prices.  From 2014 through mid-2020,

HOW TO WHIP INFLATION IN YOUR INVESTMENT PORTFOLIO A recent WSJ headline announced that “US Inflation Hit 7% in December, Fastest Pace Since 1982.”  For

2021 IN THE MARKETS: THE GOOD, THE BAD, AND THE UGLY Another year in the books and time to talk about what happened in 2021.

ARE STOCKS TOO EXPENSIVE? Are stock prices too high? This is the question on the minds of a lot of investors I talk to today.

NEED MONEY, BUT DON’T WANT TO SELL INVESTMENTS? If I’ve said it once, I’ve said it a thousand times—we’re long-term investors with long-term financial goals.

TWO HEADS ARE BETTER THAN ONE In the 1980s, the New York Yankees gave star outfielder Ricky Henderson a six-figure signing bonus, only to find

HOW MUCH CAN YOU SPEND IN RETIREMENT WITHOUT RUNNING OUT OF MONEY? How much can you spend from your investment portfolio in retirement without running

  IS THIS THE HARDEST TIME IN HISTORY TO RETIRE?   If you’re starting to plan for retirement or even if you’ve already retired, this

HOW TO AVOID BEAR MARKETS IN RETIREMENT “I just don’t want to lose 40% of my money in retirement.” I’ve heard a version of this

WHAT IS THE RIGHT AMOUNT IN BONDS FOR RETIREES? Your most serious risk in retirement is not a temporary loss of portfolio principal but instead the

THE BEST RETIREMENT PORTFOLIO HAS MORE STOCKS THAN YOU THINK Nick Murray is fond of saying that retirement investing is not a problem of “principal

CAN YOU AFFORD TO LOSE MONEY WHEN INVESTING? Investors almost universally believe that they’ll fall short of achieving their goals if they experience a sizable

DAVID BOOTH REFLECTS ON DIMENSIONAL’S 40TH ANNIVERSARY “Back when we started, we thought there was a better way to invest than what was on offer.

THE NEXT NORMAL By David Booth, Dimensional Fund Advisors A year ago, at the end of March 2020, the S&P 500 was down nearly 20%1 and

WHAT DID YOU THINK WOULD HAPPEN? There was a fair amount of skepticism surrounding our small cap and value tilted Asset Class portfolios a year

IS IT OK TO INVEST AT ALL-TIME HIGHS? I’ve talked to a number of prospective clients recently, and even a few current clients, who have

SHOULD YOU STILL OWN INTERNATIONAL STOCKS? It’s been a long time since globally-diversified investors could point to their foreign stock allocations with pride.   Non-US

LESSONS FROM THE LAST 12 MONTHS Normally I say not to pay attention to short-term returns.  You’re a long-term investor, so recent results shouldn’t have

TO BIT OR NOT TO BIT: WHAT SHOULD INVESTORS MAKE OF BITCOIN MANIA? Bitcoin and other cryptocurrencies are receiving intense media coverage, prompting many investors

THE PERILS OF SWITCHING PORTFOLIOS Let’s say, a year ago, you were looking at the losses mounting in your investment portfolio and you decided to

THE OTHER MARKET BOTTOM We’ve come a long way in the last year.  The stock market bottomed on March 23rd, and since then, stocks have

PURE VALUE Dimensional’s approach to value investing is designed to provide a sharper and more consistent focus on the lowest-priced stocks that have historically had

THE VALUE IN STICKING WITH VALUE One of the most enduring experiences in all of investing is the tendency for the lowest-priced “value” stocks to

THINK INVESTING IS A GAME? STOP By David Booth It’s easy to view the stories of market speculation that have dominated the news recently as

HOW EXTRAORDINARY ARE THE FANMAG STOCKS? As you are no doubt aware, a handful of large US technology stocks have had a pronounced effect on

INVESTMENT LESSONS FROM 2020 Dimensional Fund Advisors posted their year-end review of capital markets last week.  Along with your year-end report and Servo letter, this

WHAT RETURNS SHOULD WE EXPECT FROM STOCKS? I read yesterday on Morningstar that the Vanguard US Total Stock Index is the first mutual fund to surpass $1T

ONE FOR THE AGES If you’re not looking at your portfolio on a weekly or monthly basis, you might be surprised to find out that

EXPECTING THE UNEXPECTED Business Insider published a short article from Dimensional founder David Booth reminding us that it’s almost impossible to predict the short-term direction

KEN FRENCH ON THE FAANG STOCKS Ken French had this to say today on the Dimensional blog about the FAANG stocks (Facebook, Amazon, Apple, Netflix,

THE MOST DANGEROUS INVESTING MOVE YOU CAN MAKE I’ve written a lot this year about not bailing out of your portfolio during bad markets.  Whether it was

AUGUST WORDS ON WEALTH To read a PDF version of the newsletter, click here. ______________________________________________________ Here is a question with a seemingly obvious answer: Between a

THE FIVE INVESTMENT DECISIONS THAT REALLY MATTER If you’re about to make an serious financial move–either rolling over your 401k, deciding to retire, or maybe

IS IT VALUE’S TIME TO SHINE? If you’ve been a value investor for the last few years, it’s been a tough time.  The chart below

ARE INDEX FUNDS THE BEST WAY TO INVEST? Investors are increasingly voting with their wallets, and the clear winners are index mutual funds and exchange-traded

THE WORST TIME EVER TO BUY GROWTH STOCKS? What are the two most reliable return patterns in investing?  Most would answer stocks outperforming bonds and low-priced value stocks outperforming higher-priced growth stocks.  We’ve certainly seen a

TITLE INTRODUCING WORDS ON WEALTH To read a PDF version of the newsletter, click here. _______________________________________________________________ According to Benjamin Franklin, “If you fail to plan, you are

WILL COVID 19 CRUSH YOUR RETIREMENT? From February 19th through March 23rd, the stock market cratered on fears of a prolonged economic shutdown in response

NEVER DESTINATION Surprisingly, one of the most outstanding sports leaders of all time grew up with social anxiety.*  In second grade, Steve Young refused to

UNINTENDED CONSEQUENCES After the terrorist attacks in September of 2001, which killed almost 3,000 people, Americans abruptly stopped flying.  Politicians were so worried about the mass

YOU ARE INVITED TO A LIVE WEBINAR TODAY WITH THE BIG BANG THEORY’S DAVE GOETSCH   Dimensional Fund Advisors will be hosting a webinar with

THINK YOU CAN TIME THE MARKET? THINK AGAIN In the early 1970s, Baruch Fischoff told his students about a trip that Richard Nixon planned to

THE BEST DEFENSE IS A GOOD OFFENSE In the wake of the Covid-19 outbreak and the significant decline for stocks in the first quarter, many

IS NOW A GOOD TIME TO BUY STOCKS? Stock prices have fallen noticeably in the last six weeks as fears around the short-term economic impact

EXTREME STOCK SWINGS ARE TO BE EXPECTED Investing is about achieving long-term financial goals: a comfortable retirement, an ongoing income stream that grows faster than inflation for

DIMENSIONAL ON THE CORONAVIRUS During difficult financial and economic times, I’m reminded of the importance of investing our hard-earned wealth with a manager who is

AVOIDING AN IRRATIONAL RESPONSE TO IRRATIONAL MARKETS We seemed to be headed for a positive return in February as of just last week.  But in

CAN YOU RETIRE ON THE S&P 500? S&P 500 Index funds are all the rage.  According to Morningstar, despite net outflows from stock funds last year overall,

BIG TROUBLE FOR SMALL VALUE? It was a good year for stocks in 2019.  As always, some companies did better than others.  Unfortunately for asset class investors,

BOOTH AND FAMA: THE MARKET HAS NO MEMORY by David Booth, DFA Executive Chairman and Founder I have worked in finance for over 50 years,

REDEFINING FINANCIAL ADVICE Dimensional Fund Advisors (“DFA”) is unique in the investment management industry–their mutual funds are not available to retail investors or through traditional

NOVEMBER FACTORS IN FOCUS Stocks have been on a tear lately.  The oft-cited Dow Jones Industrial Average (“Dow”) recently crossed 28,000 and has continued to reach

THE REST OF THE STORY To achieve your long-term financial goals, you need to decide carefully on your mix of stocks and bonds.  Why?  Stocks

LIVING IN FEAR OF A DOWNTURN? DFA founder David Booth has written a wide-ranging article for Worth Magazine, covering several topics on the minds of

ONE OF YOUR BEST DECISIONS Is there a better feeling than the one you get realizing you’ve made a great decision?  Whether you put in

WHEN THE LEVY BREAKS It has been a tough couple years for diversified asset class investors.  Small cap and value stocks in the US have

HALLOWEEN FACTORS IN FOCUS With Halloween fast approaching, now is a good time to discuss the part of investing that people are often most afraid

THE LITTLE THINGS ADD UP OVER TIME A successful long-term investment experience is pretty boring on a daily or weekly basis.  Usually, there aren’t any significant moves or

CAN YOU EXPLAIN YOUR PORTFOLIO IN LESS THAN 30 SECONDS? I met with a client yesterday to review the outside investment accounts that she recently

SEPTEMBER FACTORS IN FOCUS          One of the prevailing trends in investing over the last decade has been the shift away from actively-managed mutual funds—strategies run by

PESSIMISM ISN’T PROFITABLE There has been plenty to worry about as an investor over the last 10 years.  But acting on these concerns hasn’t gotten

FINDING INSPIRATION IN A 50-YEAR FRIENDSHIP I first came across Eugene Fama’s (and Ken French’s) academic research on financial markets in 2000/2001.  For a young

HOW GREAT IS DOLLAR COST AVERAGING? YOU (STILL) DON’T KNOW THE HALF OF IT! Despite strong returns over the last few years, US stocks have

AUGUST FACTORS IN FOCUS It used to be that you would hire a broker or financial advisor because they knew how to pick the right stocks,

THE PREMIUM FOR PATIENCE The long-term historical return on smaller and more value-oriented stocks has been impressive.  The table below shows that from June 1927

DOES YOUR WEALTH MANAGER MEASURE UP? I don’t talk a lot about my CFA designation.  I went through the difficult process years ago, and have

STOCKS ARE MORE VOLATILE THAN YOU THINK We always seem to forget how volatile stocks are.  The graph above covers the 40-year period from 1979-2018,

THE FLAT OUT TRUTH Bond yield curves change as markets digest new information. Does an inverted yield curve tell investors anything meaningful about the timing

JULY FACTORS IN FOCUS Most baby boomers focused on retirement have one eye on the financial headlines and the other on mutual fund and ETF

NOW ISN’T THE TIME TO MANIPULATE YOUR PORTFOLIO If you’re watching the markets or your investment portfolio too often, you have unfortunately noticed the sharp

SERVO HAS AN UPDATED ADDRESS & PHONE NUMBER On August 1st, Servo relocated from downtown Oklahoma City to our new office location in Nichols Hills.

GOING PRO From growing up in Senegal to playing basketball at the University of Kansas, Moulaye Niang has learned the importance of having a belief

I BET YOU DIDN’T SEE THAT COMING? At the start of 2019, few things seemed more certain in markets than the continued rise of interest

JUNE FACTORS IN FOCUS Every day it seems there is news of the stock market hitting all-time highs.  But a look at your quarterly statement reveals

DEJA VU FOR VALUE STOCKS “What’s wrong with value stocks?”  You can find a version of this headline almost daily if you look hard enough.  Articles

WHERE ARE WE IN THE CYCLE? IT DOESN’T MATTER  by Wes Crill, Phd and Marlena Lee, PhD, Dimensional Fund Advisors Re-Cycled News The media has

MAY FACTORS IN FOCUS After saving for years, the returns on your investments should be important to you.  If you’re an investor, that’s exactly what a

APRIL FACTORS IN FOCUS I wake up every morning and the first thing I do is press start on my coffee bean grinder.  The beans, Major

DFA FOUNDER ON MARKET VOLATILITY by David Booth, DFA Executive Chairman and Founder  When people act like the sky is falling, it’s helpful to remember

HAVE STOCK RETURNS BEEN TOO HIGH? It seems everything you read about investing today suggests that stock returns have been too high in recent years,

WHAT GOES UP Over the last 10 years, the asset class with the lowest expected return in the DFA Equity Balanced Strategy, the S&P 500 (DFA

WHEN ARE YOUR RETURNS? Diversifying your portfolio is important but understanding when your portfolio is likely to pay off, and when it’s not, is an important part

MARCH FACTORS IN FOCUS The March edition of the Factors In Focus newsletter has been posted. The Race Is Not Always To The Swiftest, as well as

TRADITIONAL FINANCIAL ADVICE Chances are, when you think about financial advisors, the image of Gordon Gekko comes to mind, the classic character from the movie Wall

DELIVERING TRUE VALUE Not all value strategies are created equal. A new academic study shows that the names of many value funds are misleading._________________________________________________________ A

IT’S ALL ABOUT THE PORTFOLIO One of the many mistakes individuals and advisors make when investing is looking at individual securities or asset classes in isolation.

IS INTERNATIONAL INVESTING STILL WORTHWHILE? As I look at the returns for global stock asset classes so far this year (through 3/20), a I see

FEBRUARY FACTORS IN FOCUS The February edition of the Factors In Focus newsletter has been posted to the website. Building on Bogle, as well as previous publications,

IT PAYS TO BE OPTIMISTIC February marked the 10-year anniversary of the end to the 2008/2009 bear market.  There weren’t a lot of signs in

IS NOW A GOOD TIME TO INVEST? Despite having a plan in place, I sometimes find clients sitting on relatively large amounts of cash that

FATAL ATTRACTION This was my favorite headline from yesterday describing how good stock returns were in the month of January: No sooner did the ink

JANUARY FACTORS IN FOCUS The January edition of the Factors In Focus newsletter has been posted to the website. Safety and Bravery, as well as previous publications