Focus Bias and Survey Bias

“Nothing in life is as important as you think it is, while you are thinking about it.” Daniel Kahneman Thinking, Fast and Slow That may be my favorite quotation.  Those words pop into my head all the time, both at home and at work.  At home, that quote reminds me […]


September Investment Comments

“Is there anything left to be made in the stock market?”  “Everything seems so overpriced.”  “The market is so high.”  “Stock prices are ahead of earnings.”  All of these are actual quotes I’ve recently heard from clients and friends.  Investors have spoken the latter three a majority of the time […]


What is Your Real Investment Return?

Recently I spent some time with a prospect who had worked with a money manager over a number of years.  I asked her what I thought was a simple question:  What is your average annual return?  She thought the manager had performed well because her portfolio had grown nicely over […]


Introducing Stephanie Petersen

I would like to introduce myself as the newest member of the Provident team.  I have had the pleasure of already meeting some of our clients and look forward to meeting more in the future. Growing up, I loved a good challenge.  I challenged myself with strategic, logical, and mathematical […]


July Investment Comments

The unemployment rate fell to 4.3% in the most recent Bureau of Labor Statistics release.  A tightening labor market ought to push wages higher, but average hourly wage growth remains subdued at around 2.5%.  This keeps a lid on consumer spending and, in turn, also keeps inflation in check. Low […]


May Investment Comments

With the S&P 500’s forward P/E ratio at approximately 17.5x, stocks continue to trade at an elevated multiple relative to the 25-year average of just under 16.0x.  Per usual, the current environment includes reasons for both optimism and pessimism.  On the positive side for markets, earnings are growing, the Trump […]