Index

A
Active mutual funds, index underperformance, 73
Advice. See Financial advice
- fees, 231
Aesop's Fables, tortoise/hare tale, 5
After-tax 401(k) contributions, 175–6
Allocation deviations, 257
American Stock Exchange, ETF listing, 187
Amsterdam Stock Exchange, establishment, 186
Anchoring, 189f
- behavioral trait, 189–90
- bias, manifestation, 189
- response, 190
Annual returns, impact, 42f
Annuities
- CDs, contrast, 246–7
- explanation, 245–7
- investment, assumptions, 245–6
- purchase, example, 244–5
AQR Capital Management, 77
Arnott, Rob, 196
Ask price, 238
Asset classes
- data, irrefutability, 72
- movement, rate variation, 254
- performance, 38, 39f, 149, 251f
- returns, 38–9
- risk, consideration, 211–12
- sectors, performance, 40–1
- selection, 39
Assets
- allocation
  - building, risk assumption (consideration), 252
  - example, 255
- examination, 233
- locations, 41
- safety, 132
- skepticism, 233–234
- tax-deferred assets, 159
Average investor, performance, 40f

B
Baby Boomers, retirement savings amount, 101
Bad news, representation, 264f
Balanced portfolio, example, 131–2
Bankruptcy, 87, 133
Bears
- attack, survival, 249
- markets, 270
  - defining, 249–50
  - preparation, 250–2
- money, making, 130
Behavioral biases, 189f, 269
Benchmarks
- beating, 260
- index, 262
Bid-ask spread, narrowness, 238
Bid price, 238
Black Monday
- cash, movement, 60
- catastrophe, 212
- crash (1987), 61
- impact, 211–3
- S&P500 single-day gain, 49
Black-Scholes pricing model, 242
Bogle, Jack, 67, 187, 268
Bonds
- bond market factors, 87–93
- corporate bond option-adjusted spread (OAS), 93f
- investment, commissions (examination), 237–41
- junk bonds, 92
- markets, problems, 129, 240
- municipal bond pricing, Federal Reserve study, 239
- over-the-counter trading, 238
- purchase, return (potential), 91–2
- purchase/sale, cost, 238
- role, 92
- S&P rating scale, 91f
- stocks, contrast, 90
- yield, markup payment, 239
Breaking news alerts, 265
- meaningless, 214
- types, 207–8
Bridgeway Capital Management, 77
Brokerage firms, commissions (absence), 18
Brokers
- partnering, 248
- suitability standard, 240–1
Bucketing, 195
Buffett, Warren, 84–5, 196, 235, 263
Bulls
- bull market, bonds (abandonment), 62
- money, making, 130
Butterfly Effect, 59–60
Buy-and-forget investing, 258–9
Buy-and-forget investors (damage), valuation (impact), 259
Buy-and-hold investing, 257–8

C
Cable news channels, rise (impact), 25–6
Call options, sale, 144–5
Capital allocation, 263
Capital gains
- long-term capital gains, preferential capital gains rates (usage), 179
- rate, payment, 178–9
- reduction, 171–2
- short-term capital gains, ordinary income (consideration), 179
Capitalism, power, 82
Casinos
- cards, counting (difficulty), 70
- evolution, 71
- games, odds, 44
- lucrativeness, 69–70
Certificates of deposit (CDs)
- annuities, trading, 246–7
- investment, example, 246
Certified Financial Planner (CFP), defining, 226–7
Charity, donation, 152
Charles Schwab
- commissions, absence, 18
- rules-based vehicles, 77
Citigroup, demise, 60–1
CNBC
- commentary, audience attention (example), 208
- Mad Money (Cramer), 217–21
- popularity, increase, 210
- viewership, stock market movements (relationship), 210f
Coin tosses, randomness, 55
Collar, 145
Collateralized debt obligation (CDO), prospectus examination, 235–6
Collectibles, asset classification, 233
Commissions, 237–41, 246
Companies
- long-term profits, 81
- market value, list, 141
- prospects, change (list), 140
Compound interest
- defining, 41
- power, 3, 11, 12, 264
  - impact, 36–7
Concentrated positions, usage, 143–5
Confirmation bias, 189f
- behavioral trait, 190–191
- response, 191–2
Consumer confidence, political affiliation (contrast), 215f
Consumer loans, example, 91
Contributions. See Roth 401(k) contributions; Roth IRA
Conviction
- importance, 10
- levels, 193
Core lifestyle, income level, 162
Corporate bond option-adjusted spread (OAS), 93f
Corporate corporations, list, 138
Corporate earnings, impact, 82
Cramer, Jim, 217–21
Credit crisis, 147
Credit premium factor, 91–2
Credit risk, exposure, 236
Crisis, opportunity (comparison), 48–50
Crypto currencies
- asset classification, 233
- sale, basis, 234
Currency
- hedges, usae, 90
- volatility, impact, 90

D
Dealer, beating, 69–70
Defined benefit plans (pensions)
- operation, 20
- pension boards, oversight, 21
Defined contribution plans, 20
- increase, 20–1
Derivatives, usage (reasons), 241–2
Dimensional Fund Advisors, 77
Discipline, importance, 5
Distribution rate, determination, 104–5
Diversification. See Smart diversification
- benefits, reduction, 92
- logic, 149
- tax diversification, 158–9
Diversified portfolio, wealth (growth), 150f
Dividends, taxation (ordinary income tax rate), 179
Dow Jones Industrial Average (DJIA)
- decline, 249–50
- losses (Black Monday), 213
- return, 116
- trading level (2019), 189
Drawdown measures, maximum, 119
Dutch East India Company, inflation-adjusted market value, 141–2, 142f

E
Earnings release (breaking news alert example), 208
Economic data
- breaking news alert example, 208
- improvement, 216
Economic outlook, politics (impact), 215f
Economy
- awareness, 28
- changes, 16, 17f
- direction, government (impact), 216
- future, uncertainty, 4
- growth, 82
- variables, 59
Emerging market stock funds, avoidance/investment, 230–1
Employees
- defined benefit plan coverage, 22
- defined contribution plans, impact, 20–1
Employers
- defined benefit plans, impact, 20
- employer-sponsored plan, possession, 159
Energy companies, investor overweighting, 136–7
Enhanced indexing, 76
Entitlement programs, funding, 157
European Union, Britain (exit), 264
Exchange-traded funds (ETFs)
- American Stock Exchange listing, 187
- focus, 72
- usage, recommendation, 237
Expected return, increase, 80, 124

F
Factor-based approach, 76
Factor premiums, 93
Factors (investing), 78–9
Family, money (giving), 152
Fear
- irrational fear, 59
- reduction, 13
- selling, 209–10, 234
- susceptibility, 28–9
Fear of Missing Out (FOMO), 195
Federal capital gains tax brackets, 157f, 178f
Federal income tax brackets, 155f
Federal Reserve (Fed)
- estimates/forecasts, 58
- rate increases, impact, 129
Fees, reduction, 229–32
Fidelity Investments, 67
- commissions, absence, 18
- dead clients, returns, 19
Fiduciary standard, 226, 240–1
- suitability standard, contrast, 226–8
Finances
- education, 188
- news, impact, 214
Financial
advice, 35
- advisor, personal financial situation (understanding), 10
- aim/focus, 219–20
- problems, 9–10
Financial advisers
- fiduciary actions, law (overturning), 228
- fiduciary classification, determination, 226
- impact, 224–5
Financial analysts, predictions (study), 56
Financial companies, investor overweighting, 136–7
Financial crisis (2009), 142
- CNBC popularity, increase, 210
Financial Crisis (2007-2009), consideration, 212
Financial decision making, media (impact), 216
Financial freedom, 270
- navigation, 2
- principles, 269–70
Financial goals, 95
- identification, 12
- investment, requirement, 113
- meeting, 50, 61, 121, 213
  - failure, 15
Financial independence, achievement, 99, 223
Financial life
- accumulation phase, 49
- distribution phase, 49
- taxes, navigation, 152–3
Financial markets
- awareness, 28
- bear survival, 251
- changes, 16, 17f, 267
- evolution, 14, 70–1
- fluctuations (volatility), 120
- navigation, approaches, 5
Financial media
- entertainment/information purpose, 28
- information, framing, 207–8
- purpose, 207
Financial news
- channels, impact, 25–6
- dissemination, 14
Financial plan, information (relationship), 10
Financial providers
- approach, 231
- impact, 224–5
- standards, 225
Financial success, 2–3, 111, 270
- hype/noise, ignoring, 9
- key, 15
- performance measurement, 262
- roadblocks, avoidance, 5
- role, importance, 188
- time/discipline, 5
Financial weapons of mass destruction, avoidance, 241
First Index Investment Trust, launch, 67
Fixed income sources, 103
Forecasts
- fun, 52–3
- guesses, comparison, 51
- problems, 59–60
- usage, 62–3
- worthlessness, 57
Fox News, political leaning, 214
Framing bias, 196–8, 245
- behavioral trait, 196–7
- overcoming, media (impact), 197
- response, 197–8
Funds, flow, 73f
- acceleration, 176–7
Future
- forecasting, attempt, 75–6
- investment, 263–4
- planning, commitment, 269
Future income streams, taxation (control), 154
Futures
- avoidance, 241–2
- investment process, timing, 242
- pricing models, complexity, 242
- unlimited losses, 241

H
Headlines, accuracy, 197
Health Savings Account (HSA), tax-free income distribution, 159
Hedge fund managers
- risk/reward scenarios, problems, 11
- upside incentive, comparison, 11
Hedge funds
- closure rates, 31–2, 32f
- initiation, 61
- resources, availability, 32
Hedging, methods, 144–5
Herd behavior, 194–6
- behavioral trait, 194–5
- response, 195–6
High-frequency traders, impact, 24
High-frequency trading, 23–4
- appearance, 14
Hindsight bias, 198–9
- behavioral trait, 198–9
- response, 199
Holdings
- concentration, problem, 133
- period returns, investor control, 24
Housing
- collapse, 60
- expense, 151
Human condition, exacerbation, 53
Hype
- barrage, 9–10
- ignoring, difficulty, 12–14

I
Income. See Retirement income
- future income streams, taxation, 154
- Roth IRA contributions income limits, 173
- tax-free distribution, 159
Income in Respect of a Decedent (IRD), 165–6
Income taxes, 154–7
- calculation, example, 156f
- federal income tax brackets, 155f
- marginal rates, 155
- personal income taxes, reductions (forecast), 157
Indexed products, 72–5
- investment, movement, 67
- portfolio component, 73–4
Indexes
- construction, 74
- gaming, 74–5
- index funds tracking, 74–5
- market weighting basis, 74
- reconstitution process, 75
- style drift, 75
Index mutual funds, focus, 72
Individual investors, professional traders (contrast), 211
Individual Retirement Account (IRA)
- business partnership, 160
- creation, 20
- investment, willingness, 69
- losses, waste, 183
- possession, 159
- stretch IRA, 165–6
- tax deferral, 162
Industrial companies, investor overweighting, 136–7
Industry downturn, impact, 133
Inflation
- impact, 4, 87, 100, 163
- pace, keeping, 125
Information
- availability, problems, 27–8
- dispersion, impact, 27
- financial plan, relationship, 10
Innovations, impact, 268
Institutional investors
- rise, 31–3
- sophistication/competitiveness, increase, 14
Interest, ordinary income consideration, 178
Interest rates
- economists, prediction (polls), 54
- timing, components, 54–5
Internal Revenue Service (IRS)
- investment partner, 160
- loan, 163
- penalties, 166–7
International economics, background (requirement), 30
International securities, investor allocation, 29
Internet
- adoption, 25
- development, impact, 18
- impact, 26–7
Inventories, release (breaking news alert example), 207
Investing, 5
- approach, implementation/identification, 2
- buy-and-forget investing, 258–9
- buy-and-hold investing, 257–8
- certainties, absence, 6
- competition/game, avoidance, 14–15
- factors, 78–9
- focus, 233
- fortitude, 1
- global investing, information flow (increase), 29–30
- long-term activity, 262–3
- long-term approach, usage, 11
- process, components, 12
- self-directed investing, 20–3
- speculation, contrast, 10–12
- success, 92
  - odds, 5
- trading, contrast, 16, 232–3
Investment
- allocation, considerations, 254–5
- characteristics, stability, 258–9
- decisions, impact, 201
- definition, examination, 232
- errors, overconfidence (impact), 192
- exposure, reduction, 260
- familiarity, advantages/disadvantages, 132–7
- fees, reduction, 229–32
- growth (S&P500), 47f
- growth (example), annual returns (impact), 42f
- growth rate, example, 105–6
- options, 68, 121
- partnership, 159–161
  - IRS, impact, 160
- performance, 142–3
- portfolio, performance (impact), 208
- products, complexity, 234–6
- professionals, fees (reduction), 229–32
- providers, monitoring/evaluation, 224
- purchase, identification, 232–4
- requirement, 113
- returns, factors, 67
- risk, types, 46
- rules-based approach, usage, 72
- solution, 71–2
- time horizon, length, 211–12
- types, 233
- understanding, importance, 236–7
- usage, determination, 103–4
- value, decrease, 144–5
- volatility, reduction, 90
Investment Advisers Act (1940), 226
Investment Policy Statement (IPS)
- action plan, 193
- usage, 199
Investors
- all-star team, 60–2
- average investor, performance, 40f
- balanced portfolio, example, 131
- Black Monday, impact, 211–13
- financial news channels, impact, 26
- international securities allocation, 29
- ownership propensity, 136f
- psychological challenge, 132
- self-impact, 185–7
- time horizons, increase, 24
IRD. See Income in Respect of a Decedent
Irrational fear, 59

L
Large companies
- large-company stocks, performance, 38
- risk, decrease, 86
- small companies, performance (contrast), 85, 86f
Large-value companies, index (investment), 83
Las Vegas casinos, niceness, 43–5
Life
- certainty, 163–7
- expectancy, increase, 96
- fulfillment, 6
- shortness, 127–8
- speed, 15–16
Lifestyle
- core lifestyle, income level, 162
- cost, 100
- determination/questions, 97
Living expenses, accumulation, 126
Living standard, increase, 100
Load, 229
Longer-term bonds
- interest, payment, 89
- risk, 88
Longer-term gains, expense, 201
Long-term capital gains, preferential capital gains rates (usage), 179
Long-Term Capital Management (LTCM), crash/rescue, 242
Long-term investing, gambling (contrast), 43–5
Long-term investors, tools/techniques, 5
Long-term returns, impact, 213f
Lost Decade, 147–150
- headlines, 148f
- wealth, growth, 148f
Lynch, Peter, 132

M
Macro trading, 30–1
Mad Money (Cramer), 217–21
Markets
- avoidance, 147, 149
- benchmark, 213
- capitalization, 77
- constitution, 149
- crash, warnings, 60
- direction, information, 209
- events, 116f
- market-tracking products, focus, 72
- mistiming, 46
- recovery, 265
- selloffs, impact, 117
- time/timing, contrast, 41–2
- timing, difficulty, 45–6
- tops/bottoms, identification precision (absence), 259–60
- valuations, problems, 259–60
- volatility, 4, 120
  - increase, 23
Markets, beating
- difficulty, 32, 75
- impossibility, 71–2
- possibility, 69–70
Markup, payment, 239–40
Married couple, income tax calculation (example), 156f
Maturities, risk (equivalence), 90
May Day, 18
Media. See Financial media
- barrage, continuation, 206
- figures, polarization, 206
- impact, 197, 205–11, 216, 269
- money, making (consideration), 206–7
Media pundits, impact, 57–8
Mega backdoor Roth, 176
Money
- accumulation, plan (determination), 105–7, 110
- doubling, consideration, 246
- history, 186
- increase, 125–7
- legacy goal, 119
- lending, 88
- making, amount, 114–15
  - determination, 115
- making/keeping, 181–3
- placement, 152
- requirements, determination, 105, 110
- taxable pool, building, 177–81
- tax-free pool, building, 172
- usage, continuation, 172
Monthly mortgage principal and interest (P&I) payments, impact, 108
Mortgage payment, calculation, 100
Motivation, 245–6
MSNBC, political leaning, 214
Municipal bond pricing, Federal Reserve study, 239
Mutual funds
- active mutual funds, index underperformance, 73
- fees, cost, 230f
- managers, index performance (problems), 71
- resources, 32
- usage, 90–1, 240
  - recommendation, 237
Myopic loss aversion, 201–3
- behavioral trait, 201–2
- response, 202–3

P
Pension. See Defined benefit plans
Pension fund
- resources, 32
- target mix, example, 62
Performance, focus, 262–3
Performance, measurement, 213
- improvement, 260–2
Periodic portfolio rebalancing, 256–7
Perma-bears, 61
Personal income taxes, reductions (forecast), 157
Political uncertainty, 3–4
Portfolio
- alignment, 255
- analysis, example, 240
- balanced portfolio, example, 131–2
- building, 113–14, 235–6
- decline, example, 133
- distributions, determination, 109–10
- diversified portfolio, wealth (growth), 150f
- holdings, turnover (rapidity), 19
- identification, 117
- investments, examples, 123–4
- leverage, 140
- mixes, determination, 12
- monitoring/adjustment, 12
- performance, 38, 39f
  - feedback, 203
  - improvement, 22–3
- periodic portfolio rebalancing, 256–7
- rebalancing, 49–50
- return generation, assumption (absence), 122
- risk/return, 118f
- selection, 124–5
  - risk reduction, 117–19
- standard deviation
  - example, 119
  - usage, 120
- tilt, 79
- tracking, 31
- values
  - decline, 22
  - fluctuation, 38
Portfolio bonds
- ownership, 90
- role, 92
Precious metals
- asset classification, 233
- sale, basis, 234
Presidents, term length (impact), 217f
Pretax dollars, usage, 174
Price appreciation, taxation (absence), 183
Principal and interest (P&I) payments, impact, 108
Professional traders, individual investors (contrast), 211
Public behavior, guiding/shaping, 58
Put options, purchase, 144–5

R
Real estate investment trusts (REITs), 132
- income, ordinary income (consideration), 179
- wealth, growth, 39
Rebalancing, 254–6
- periodic portfolio rebalancing, 256–7
- provision, 258
Registered investment advisors (RIAs), offerings, 228
Required minimum distribution (RMD), 163–5
- table, 164f
Retirement, 96
- accounts
  - assets, tax payments, 177
  - types, 159
- Baby Boomer savings amount, 101
- distribution rate, determination, 104–5, 110
- enjoyment, 125, 127–8
- investments, usage (determination), 103–4
- lifestyle, determination/questions, 97
- mindset shift, requirement, 117
- money
  - accumulation, plan (determination), 105–7, 110
  - requirements, determination, 105
- planning
  - difficulty, 161
  - steps, summary, 106f
- portfolio distributions, determination, 109–10
- rules, 125
- savings, usage (determination), 103–4
- spending, 101–2
  - determination, 107–9
  - status, 98–9
- step-by-step example, 107–11
- sustainable distribution rate, determination, 110
- timing, determination, 99, 108
- vision, determination, 96–8, 107
- withdrawal rate, determination, 104
Retirement income
- determination, 99–100
- sources, determination, 103, 109
- sources, taxation process, 158
Retirement taxes
- bill, deferral (hype), 153
- bracket, reduction (hype), 153
- payments, reduction (hype), 153
- truth, 154
Return
- expected return, increase, 80, 124
- generation, 147
  - absence, 121–2
- improvement, 146
- increase, stocks (impact), 122
- keeping, control, 269
- maximization, 92
- potential, increase, 124
- rate
  - calculation, 12
  - requirement, determination, 261, 269
- required rate, 123, 128
  - achievement, 118, 122
  - increase, 118
  - meeting, 132
  - usage, 115, 116
Risk, 181. See also Shortfall risk
- bond risk, 88
- capacity
  - factors, 252
  - tolerance, contrast/confusion, 252–4
- company decrease/increase, 86
- compensation, 89
- increase, maturities (equivalence), 90
- investment-by-investment basis measurement, 125
- reduction, 12, 132, 144
- taking, amount, 116–20
- tolerance
  - determination, 252–3
  - honesty, 254
  - overestimation, 253
- types, 46
RMD. See Required minimum distribution
Rockefeller, John D., 196
Roth 401(k) contributions, 174–5
Roth account
- mega backdoor Roth, 176
- tax-free income distribution, 159
Roth IRA
- backdoor Roth IRA contributions, 173–4
- contributions, 172–3
  - income limits, 173
- conversions, 172–4
Rules-based approach
- defining, 76–7
- usage, 72, 75–8
Rumor, attention, 13
Russell 3000, U.S. stock market proxy, 74

S
Sale, tax implications, 144
Santayana, George, 1
Savings
- market selloffs, impact, 117
- usage, determination, 103–4
Scholes, Myron, 242
Securities, investor purchase/sale, 238
Self-attribution bias, 200–1
- behavioral trait, 200
- response, 200–1
Self-directed investing, 20–3
Shorter-term bonds
- interest, payment, 89
- risk, 88
Shorter-term trading, speculation requirement, 262–3
Shortfall risk, 46, 115
- impact, 120
Short-term capital gains, ordinary income (consideration), 179
Short-term market movements, meaninglessness, 214
Short-term trading
- Cramer recommendations, relationship, 218
- long-term investing, contrast, 5
- speculation, equivalence, 11
Slow-Go years, 102
Small companies
- large companies, performance (contrast), 85, 86f
- risk, increase, 86
- small-company factor, 83–5
- small-company stocks, performance, 38
- small-company universe, 87
  - investment, 83–4
Small stocks, risk (increase), 86
Small value stocks, purchase, 84
Smart beta, 76
Smart diversification, 129
- behavior, avoidance, 131
- defining, 130
- impact, 145–7
- practice, 129
Smart phones, usage, 15–16
Sniff test, 224
Social media
- impact, 14
- opinions/news stories, bombardment, 27
Sovereign wealth fund, resources, 32
Soviet Union, collapse, 52
Speculation
- definition, 12
- investing, contrast, 10–12
- short-term trading, equivalence, 11
Spending
- calculation, 99
- complication, 99
- estimate, 98
- nonmortgage spending, factor, 109
- status, determination, 98–9
Springer, Jerry, 220
Sputnik 1 (Soviet Union launch), 51
Standard deviation, usage, 119–20
Standard of living
- enjoyment, 172
- improvement, 263–4
Standard & Poor's (S&P)
- bond rating scale, 91f
- performance, 265f
- sector performance, differences, 134f
Standard & Poor's 500 (S&P500), 249, 260
- bear markets, impact, 22
- corrections, 250
- increase, 133
- investment, growth, 47f
- level, increase, 37f
- negative returns, 147
- performance, tracking, 67
- portfolio
  - allocation, 47
  - ownership, 149
- single-day percentage gains, 48f
- tracking, 230
- wealth, growth, 148f, 150f
Stock market
- best performing stock markets, 139f
- crash (1929), 82
- crashes, predictability, 131
- decline (1987), 4
- decline, example, 255
- factors, 79–87
- movements, 92
  - CNBC viewership, relationship, 210f
- performance, president term lengths (impact), 217f
- sell-off/rebound, 23
- worries, 126–7
Stocks
- addition, 121–3
- bonds, contrast, 90
- concentration, example, 131–2
- finding, 84–5
- growth stocks, 80–1
- identification, 84
- impact, 122
- movements, prediction (difficulty), 219
- performance differential, 56
- prices, research, 25
- proportion, 126
- purchase
  - analysis, 219
  - choices, 122
  - mechanisms, 218–19
- selection, 83
- U.S. stock fund flows, 73f
- volatility, 124
Stretch IRA, 165–6
Style drift, 75
Success. See Financial success
- demonstration, 79
- factors, 78–9
- guarantee, absence, 76
- odds
  - reduction, 68
  - smart diversification, impact, 145–7
- planning, impact, 95
- rate, 55
- repetition, 61
- trap, 140–3
Suitability standard, 225–6
- fiduciary standard, contrast, 226–8
- FINRA definition, 225

T
Tactical allocation, 194
Target allocation
- establishment, 62
- example, 257
- portfolio alignment, 255
Target return, performance measurement, 261
Taxable pool, flexibility, 178
Tax Cut and Jobs Act (2018), 157
Taxes. See Income taxes; Retirement taxes
- avoidance, 171
- control, 154
- deferral, 161
- diversification, 158–9
- expense, 269
- federal capital gains tax brackets, 157f
- federal income tax brackets, 155f
- hype, 153
- increase, question, 157–8
- inevitability (hype), 153
- inimization, examination, 144
- navigation, 152–3
- optimization, 161
- payment, reduction, 152
- tax-deferred account
  - losses, waste, 183
  - money (conversion), distribution (consideration), 176
  - money, movement, 171
- tax-deferred assets, 159
- tax-deferred pool, advantages/disadvantages, 182–3
- tax-free pool, funds flow (acceleration), 176–7
- understanding, 151
- U.S. individual tax return form 1040, example, 156f
Tax loss harvesting (TLH), 180–1
Tax Reform and Jobs Act (2017), impact, 177
TD Ameritrade, commissions (absence), 18
Technical analysis, 243–4
- complexity, 243
- rigor, 244
Technology companies
- bankruptcy, 133
- investor overweighting, 136–7
- survival, 134–5, 135f
Technology stocks
- decimation, 134–5
- returns, impact, 256
Term premium factor, 87
Thrift Savings Plan (TSP), possession, 159
Time
- horizon, length, 211–12
- usefulness, 42
Trading, 5
- activity, high-frequency trader (domination), 23
- avoidance, 233
- investing, contrast, 16, 232–3
Transaction costs, reduction, 17–19, 27
Treasury bonds, maturities, 88
Tweak, definition, 2