One Wealth

I went to the doctor today. I’d been having trouble with my allergies and sleep. The doctor prescribed me a medication to use in conjunction with the allergy medicine that I already take. That first medicine was supposed to have worked on its own. It did initially, until it didn’t. All of this got me thinking about advice and the fact that nobody can ever give advice on any subject that is, with 100 percent probability, going to be “right.”

This week, I am interrupting our weekly thoughts with an annual piece that I plan on writing each January going forward. The purpose of this piece is to remind us all of some of the general principles we try to utilize in the advice we give as well as some observations about the current investment and economic environment.