Behavioral Finance
Why your plan matters more than your portfolio
Planning decisions, not portfolio decisions, drive the outcomes that matter most. A recurring theme of The Brief.
The Whitledge Brief is my monthly essay on investing, planning, and behavioral finance. Start with the first issue below, along with my latest for CFA Institute's Enterprising Investor.
Buffett called American capitalism a magnificent cathedral with a casino attached. Why ownership is a positive-sum game, why betting never can be, and the quiet ways investors end up at the tables without meaning to.
A practical lifecycle-finance framework that treats human capital, a client's future earnings, as a core input to portfolio allocation, not age alone. Building on the work of Robert Merton.
Planning decisions, not portfolio decisions, drive the outcomes that matter most. A recurring theme of The Brief.
Evidence-based takes on markets, costs, and the small, unglamorous choices that build real wealth over decades.
Risk isn't volatility, and it isn't what the financial news tells you. How an economist separates signal from noise.