Tag Archives: Carl Richards

“A Little Late” by Carl Richards

Carl Richards’ is a favorite contributor here at the Portfolioist. We’ve interviewed him in the past (see, “How to Pick an Investment Advisor (Part 3): Carl Richards’ 3 Key Questions” by Nanette Byrnes) and remain a fan of his website, behaviorgap.com.

Using a Sharpie and a piece of card stock, Richards captures complex financial ideas in simple, easy-to-understand sketches.

Here’s his latest sketch and commentary on the recent market volatility. Enjoy–we certainly did. Continue reading

Relax: Doing Less With Your Investments

In his latest Behavior Gap Newsletter, Carl Richards nails that feeling of confusion that comes when we learn first hand that “past performance is not a guarantee of future results.”

Investing isn’t like hiring a basketball coach, Richards argues, but rather like planting an oak tree: Continue reading

How to Pick an Investment Advisor (Part 3): Carl Richards’ 3 Key Questions

Carl Richards may be best-known for his regular writing at the New York Times Bucks Blog, Daily Worth, and his own Behavior Gap newsletter. But Richard’s (other)  day job is running his investment advisory firm Prasada Capital.

Partly because he writes a lot about financial matters, and partly because he just gets the question all the time, Richards has thought a lot about how to find a great financial advisor. He defines a good advisor as  someone who will really help clients meet their goals. “My standard is where would I send my mom,” he explains. His term for them, the “Secret Society of Real Financial Planners,” acknowledges that these people are not easy to find. Though he knows planners “having a really positive impact” he also acknowledges that for every good egg, there are probably 10 you’d be better off avoiding. (Video of the full interview with Richards is below.) Continue reading

How to Pick an Investment Advisor

It’s a question financial experts get all the time: how should I chose an investment advisor?

The number of people offering some form of financial advice is growing fast. According to Smart Money, “the ranks financial planners, college aid advisers, mortgage brokers and more are expected to increase by 30% by 2018, to 271,200” per the Bureau of Labor Statistics.

Obviously some of those 271,000 people will be better than others. So how do you find the right advisor? Continue reading

New Year’s Investing Resolutions

Well it’s that time of year again. That moment when we promise to start afresh and finally do the things we ought to do.

Grab that momentum/optimism/guilt and start your financial year on good footing.

To help, we reached out to some of the experts who’ve shared their insights with Portfolioist in 2010 and asked them a simple question: What would be the very best New Year’s resolution an investor could make moving into 2011? Continue reading

Carl Richards on Conquering Investing Mistakes and Learning to Talk About Money

Carl Richards has a few thoughts on how we might get around some of our own bad money habits, and he shared them in the video discussion below. A student of behavioral finance, Richards combines that interest with the practical experience of working as a financial advisor in Park City, Utah, where he sees plenty of these concepts playing themselves out in all the wrong ways in his work at Prasada Capital Management. Continue reading