1 . What do you think of markets right now ?
In my opinion , markets are expensive . Stocks , bonds , cash and real assets are mostly trading quite a bit higher than their historic averages .
However , when investments are ‘ expensive ,’ it doesn ’ t speak to their direction . They could go higher , lower or stay consistent . The sequence of returns is difficult to predict , but at some point we ’ ll need to digest these expectations . As usual , investors should seek a comfortable balance when it comes to risk-taking . Risk and return are inextricably intertwined .
2 . What is the one thing your team is known for ?
If we ’ re known for anything , it ’ s our belief in planning . We feel it ’ s imperative that investors make a plan to live their best lives – whatever that means based on their unique situation . Planning helps us determine how resources can support lifestyles and if any tradeoffs are required .
3 . What is the best piece of advice you ’ ve been given ?
4 . Who ’ s a person you admire ?
Daniel Kahneman , a Nobel-Prize winning psychologist who did amazing work in the fields of financial decision making and happiness . He ’ s known as one of the founders of behavioral finance and has had a profound impact on investing . He just published his seventh book , Noise : A Flaw in Human Judgement , but he ’ s best known for his 2011 book Thinking , Fast and Slow .
5 . What keeps you up at night ?
Probably the 24 / 7 “ Choose Your Own News ” cycle . We can access whatever information we want to hear . Too many people select information that can reaffirm biases .
6 . What was the last book you read ?
Sponsor Spotlight Robert Burns
Burns Nevins Wealth Management Group By : Lynne Poirier
It wasn ’ t advice given directly to me , it ’ s a quote by Warren Buffet : “ Be fearful when others are greedy and greedy when others are fearful .” As investors , it ’ s what we should aspire to do and always remain top of mind . It ’ s the perfect reminder that bleak periods typically are not permanent – and can be a good time to invest .
In Pursuit of the Perfect Portfolio , by Andrew Lo and Stephen Foerster . It ’ s really for serious investors who are interested in learning about what some of the greatest minds in finance contributed to modern investing .
7 . If you had to eat one meal every day for the rest of your life , what would it be ? Without question , as ridiculous as it sounds : crunchy peanut butter on toast . It ’ s a problem . 8 . What ’ s the best advice about saving and investing for young people ? Everyone ’ s situation is unique , but for many , a good time to start saving and investing was yesterday and the next best time is today .
Robert Burns is an Executive Director and Wealth Partner with J . P . Morgan Wealth Management , based in Palm Beach Gardens . As a principal of the Burns Nevins Wealth Management Group , he works directly with affluent investors to help them address the complexities of significant wealth . 561-694-5666 ; Robert . m . burns @ jpmorgan . com
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