Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Advice from Eugene Fama

December 4, 2017

The Nobel Award winner and father of efficient market theory gave an interview recently. Some of his insights are highlighted in this web page. The interview covers a wide range of investment topics, including passive investing, hedge funds, factor investing, and financial advisers.

On robo-advisers 

In the end, these are going to be a boon to professional advisers. They’re going to be a way advisers can show their clients what distributions of outcomes possibly look like with different investment strategies.

I play a lot of golf with a lot of rich people. When I talk to them about their portfolios, they don’t want to bother with them, basically. They want an adviser, and they do not want to be involved in investing on a day-to-day basis, because their value added is somewhere else. I don’t think that’s going to change. These robo-things are just a technology tool that will help advisers in the end, not hurt them.

 

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