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Zack Miller

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  • E*Trade's Online Advisor Hopes to Lure DIY Investors [View article]
    Thanks for the comment, Henry. I tend to agree with you. These tools are still in their infancy, especially consumer-facing ones and the trick is integration. The first discount house -- by the way, they should now be seen as investment platforms -- to get providing professional-grade advice through automation should reap a lot of assets. It'll be interesting.
    Jun 10 01:17 AM | Likes Like |Link to Comment
  • E*Trade's Online Advisor Hopes to Lure DIY Investors [View article]
    Hi Geoff,
    Thanks for the nice feedback. This was by no means an exhaustive piece on the space. Rather, I saw it as a product review which I tried to put into context.

    Clearly, FinancialEngines and your work are much more rigorous in this space. Online Advisor is a tool that fits well into E*Trades larger platform. E*Trade has approached this exactly this product as a service they've layered on top of a trading platform. FinancialEngines -- at its heart -- is providing portfolio guidance.
    Jun 9 04:07 PM | Likes Like |Link to Comment
  • Year to date, 11,600 registered brokers have left the industry in the U.S. That figure could reach 35,000 by year-end.  [View news story]
    are these people who have left left or would this number also include brokers who have gotten licensing as financial advisors (RIA)
    May 6 12:37 PM | Likes Like |Link to Comment
  • MarketRiders: Portfolio-Building and Asset Allocation Via ETFs [View article]
    It's interesting -- contrary to what the article says, I went to the website and checked. They do offer this system via a registered investment advisor with Schwab clearing.

    Sounds interesting but their marketing is a little disingenuous. Most active managers don't beat indexes. Fine. But they're creating system that actively trades ETFs. Why can they do actively trade while others can't? Where is the backtesting info?

    May 5 07:08 AM | 1 Like Like |Link to Comment
  • GeoCities = MySpace = Newspapers? [View article]
    I think Jeff's point wasn't exactly addressing the role of a news medium. His point was that newspapers, just one product of a news medium, should look at themselves as a platform if they want to stay in business. The role of information, or to inform, must come from another direction.
    Apr 27 02:03 AM | Likes Like |Link to Comment
  • In Memory of Greg Newton [View article]
    I didn't know Greg but enjoyed his writing and analysis. His smile in his pic probably relates to how he lived life. RIP, bro.
    Apr 6 04:19 PM | 2 Likes Like |Link to Comment
  • Paying for News [View article]
    I like Felix's argument. It's kind of like the "music business is good but the CD business reeks" discussion. Since Salmon compares online subs to paying for newsletters, it would be interesting to see some statistics on the investment newsletter industry and how subs are holding up. Investment content is a bit different than news because the consumer is paying up in effort to actually make money. Just curious.
    Feb 9 07:17 AM | Likes Like |Link to Comment
  • vs. Blackstone [View article]
    I don't know if removing the register step is the right answer. The FT has a right to make money as well. Clearly Blackstone thought it was worth the few pesos it cost -- they should have just bought more seats. Micropayments would help - but maybe we just need to feel a level of desert for financial content sites like we've turned the corner on in the music industry.
    Feb 1 02:03 AM | Likes Like |Link to Comment
  • DBV: Unlevered Carry Trade ETF for the Masses [View article]
    Sorry, I thought the DBV was levered (see link below)

    From ETFConnect as well (
    "The Fund seeks to track changes in the level of the Deutsche Bank G10 Currency Future Harvest Index. The Index is designed to reflect the return from investing on a 2 is to1 leveraged basis in long currency futures positions for certain currencies associated with relatively high yielding interest rates."
    Aug 19 04:54 AM | 1 Like Like |Link to Comment
  • Imclone Systems: No Shame, No Gain [View article]
    nice approach. it's not often big companies admit mistakes.
    Aug 7 09:53 AM | Likes Like |Link to Comment
  • Dan Ariely: Predictably Irritating [View article]
    I just finished this book as well. I have to agree about the shorthand, shoot-from-the-hip writing style. But I think reading some of this and internalizing it can make us better investors if we study our flaws.

    For example, there was an experiment in Ariely's book that had to to with optimization and choices. College students were given a computer game with the goal to maximize earnings. These students earned real money for every click they made inside virtual rooms. Some clicks in some rooms were worth more than in other rooms.

    Under normal circumstances, students would try each room, decide which generated the best return, and stick with it for the life of the game.

    But when Ariely tested the game and started to diminish the doors leading to the other rooms with each subsequent click, users behave totally nuts. Even if Ariely told them which room had the best yield, the students chose poorly when faced with fleeting opportunities.

    I think the next leg of this research has to get beyond just the cute experiments and find a way to profit (or limit our mistakes) from this predictable irrationality.
    Jul 2 03:31 PM | Likes Like |Link to Comment
  • Interview with Silicom's Founder and Chairman of the Board [View article]
    We met with SILC a week or two before the precipitous drop in May. Stock price was hanging in then.
    Jun 24 11:50 AM | Likes Like |Link to Comment
  • In Light of Peak Oil, Financial Diversification Is a Bad Idea [View article]
    CAN YOU SAY BUBBLE? What happens when you have 90% of your portfolio in 2 energy stocks??
    Jun 1 09:21 AM | Likes Like |Link to Comment
  • Visa Estimates Upped Through 2010 [View article]
    Don't you think that the upcoming consumer credit crunch is really the overriding story?
    May 27 09:54 AM | Likes Like |Link to Comment
  • High Oil Prices Dampen Dollar Sentiment - and BBQ Parties [View article]
    interesting about the eurozone prospects. something few are talking about is the fact that of all things, the Israeli shekel is one of the world's strongest currencies right now. To combat record high oil prices, Israel is focused on green/clean tech.
    May 25 07:42 AM | 1 Like Like |Link to Comment