An Important New Book about the Finance Industry

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From time to time since Park Piedmont Advisors was founded in 2003, we have quoted extensively from various authors whose books we have embraced.  These authors and their books include Burton Malkiel’s A Random Walk Down Wall Street;  John Bogle’s Common Sense on Mutual Funds;  David Swensen’s Unconventional Success; Charles Ellis’ Investment Policy; and Nassim Nicholas Taleb’s The Black Swan and Fooled by Randomness. …

Stock Price Declines…Not So Unusual

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With a volatile third quarter now ended, it may be helpful to offer some historical context for the recent market declines. Since the financial crisis in 2008, stock prices have had only one substantial period of decline (approximately 20%), in 2011. Since this has been a long period of generally steady stock price increases, it is perhaps reasonable to point out that …

Impact of “No Rate Change” on Investors

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The much awaited decision by the U.S. Federal Reserve as to whether to start raising interest rates was answered in the negative yesterday, while still leaving open the possibility of an increase before year end. “Heightened uncertainty abroad” and “prospects of low inflation,” both of which are reasons not to raise rates, were deemed more important at this time than …