A terminal case of brain cancer led him to co-author a book about how this better investing approach involves simply "investing in a collection of index or similar funds and dutifully rebalancing every so often."
Quoting again from the article: "The mere fact that Mr. Murray felt compelled to write it is itself a remarkable story of an almost willful ignorance of the futility of active money management - and how he finally stumbled upon a better way of investing. Mr. Murray now stands as one the highest-ranking Wall Street veterans to take back much of what he and his colleagues worked for during their careers."
Why am I pointing this out? (Cue up the self-horn-tooting music...) Because this is precisely the investing approach that we have been taking with our clients for over a decade. In fact, Mr. Murray's book sounds like it could be a virtual re-write of my own Low-Stress Investing, published in 2002.
So, see? I'm not just making this stuff up.
Have a great week, and remember to shop locally!