Below you'll find a list of all posts that have been categorized as “Investing for Physicians”
I developed respect and affinity for Dr. Cory Fawcett, the “repurposed” general surgeon, at Fin Con 18. Cory’s an unusual combination of a down-to-earth personality with an entrepreneurial spirit that continues to impress me, and we’ve stayed in periodic touch via email since the conference. I follow his blog, have reviewed his books, and even tried online locum tenens course …
A newbie undergoing his inaugural financial literacy conversion experience is disheartened a few years out of residency. His taxable account reads like a sloppy record of investing mistakes, littered with individual stocks and actively managed, high expense ratio funds. Like many of us, he made his share of mistakes trying to beat the market before realizing that high active management …
At the time of writing, I’m deep into Michael Lewis’ latest book, The Undoing Project. It’s a profile of the unlikely friendship and rich academic collaboration between two psychologists, Daniel Kahneman and Amos Tversky, whose interest in the systematic flaws of human decision-making gave rise to the field of behavioral economics. A result cited from their studies felt particularly relevant …
I heard a sermon last weekend based on the concept of sacred fear, explained through the analogy of standing at the edge of the Grand Canyon as a simultaneously beautiful and terrifying experience. On the one hand, you are filled with a sense of the sublime in tandem with a rare perspective of your insignificance in the greater world. At …
Right Place, Right Time: Case Study #1 Me: “I’m so relieved you came straight to the Emergency Department.” Patient: “I’ll take lucky over smart any day, Doc!” This comment came from a patient with a long and checkered cardiac history who walked into a smaller local ED complaining of chest pain, only to experience a witnessed cardiac arrest from a …
*Special thanks to reader MF, who graciously corrected an error on my part in the original post. The article has been updated and the error corrected as of 10/15/19. A consistent question I get from new investors is whether exchange-traded funds (ETFs) or mutual funds are the optimal vehicles for investments in taxable brokerage accounts. This post is an attempt …
A friend recounted his recent experience interviewing a prospective financial advisor. He’d been favorably impressed. The would-be advisor informed him that he would not only help with investments, but provide tax strategy recommendations as an added value, to show how far he was willing to go above and beyond the less comprehensive services provided by his peers. The suitor’s first …
It was late at night when the bartender called last round. She was wearing a sophisticated little black dress, seated alone at a small table, when our eyes met across the room. Full of liquid courage, I made my way over, asked what she was drinking, and ordered two. I’d heard rumors about her before in the books I was …
I recently listened to the always engaging Jonathan Clements being interviewed on the White Coat Investor podcast, during which he explained a neologism I’d not heard before to refer to a type of rookie mistake I recognized for having committed it: naive diversification. As a quick review, diversification is a means of reducing portfolio risk. I own exclusively Apple stock …
A recently widowed loved one, familiar with my interest in finance, forwarded me a newsletter from her advisor that was written on the pretext of honoring the late Jack Bogle’s innovations at Vanguard. It was an odd tribute coming from this particular advisor. This loved one once asked me to look over the investments her advisor had placed her in, …