Tuesday, December 20, 2005

Here We Come A-Gifting

In the Holiday Spirit, we come bearing gifts, chosen in the knowledge that it's the thought that counts.

For active portfolio managers, who keep forgetting that hyperactive turnover usually leads to underperformance, a relaxing mug of hot mulled cider.

For indexers, who need a way to keep awake while their passive portfolios outperform most actively-managed funds, a Starbucks Gift Certificate.

For hedge fund honchos, who know it's "positive returns or perish," a year's supply of 100-proof Alpha (take only as directed).

For tax practitioners, the prospect of a new round of Tax Reform. (And you can bet that Congress, once again, will make a glorious mess of it.)

For trust and wealth-management marketers, a new batch of HNW Hot Buttons. ready to be pushed.

To all, best wishes for a Christmas that is Merry, a Hannakuh that is Blessed, a Yule that is Wicked Cool!

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