CKW Financial Group Blog


Gatekeeper or Asset Manager – Time to Choose

Gatekeepers who are or want to be Asset Managers need to choose.  The standards of Gatekeepers letting Asset Managers pass the gate have not changed much since I taught Manager Selection and Due Diligence for IMCA’s CIMA certification.  What has changed are the... read more

People have Peaked not the Market

The generalists are mostly gone from our profession and the professionals are now specialists.  Technology will continue to bring cheaper, better products to the consumer.  ETP are one example of technology driving cost down and eliminating the many middlemen. Due... read more

Passive vs Active

Both passive and active are here to stay.  The correct answer to which is better? As always is, “It depends.” It depends on what is passive and what is active.  And in the end, people will disagree anyway. An index based on screening for different variables used by... read more

Dow 30,000, S&P 500 3000?

4/11/16 – We asked for an $18 trillion loan. No one responded. At the time the market PE was approximately 16x current earnings or an E/P earnings yield of 6.25% plus a dividend of 2%. 8/12/16 – The DOW was at 18,473 – 450 times its original value of 40.94 in 1896.... read more

Investing Is Art

We humans looking for an investment job need to remember: the computer is quicker, faster, and cheaper at math than we will ever be. Understanding math and using the math to invest the way science proved works is still not art because AI can remember and recognize... read more

What a client wants

The benchmark is the benchmark. We sold it, had the client immortalize it in writing (IPS) and put a spotlight on it at every quarterly meeting (performance report).  The benchmark is now something to beat (relative, absolute, or adjusted).  The benchmarks humble... read more

Active vs Passive is part of asset allocation

Our industry sets standards of due diligence, research, analysis, education, and other criteria to manage parts of a portfolio.  Do the people and organizations picking the parts add value to the whole?  Is it manager selection or asset allocation? Every active or... read more

Parts will be parts.

When the parts don’t fit, you get lousy performance.  Porsche magazine, with the latest and greatest new parts, get people enthusiastic about making changes for better performance.  Porsche is the best at putting together amazing cars from their parts bin. We believe... read more
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