Author: Richard Rooney
Richard Rooney

Beyond the Returns: Selecting a Money Manager (Part II)

In my last post, I introduced a thought experiment: what would be the ideal situation for the investment of your family wealth if you had started a generation ago, and what lessons can we learn from that experience? My answer … Read More →

Richard Rooney

Beyond the Returns: Selecting a Money Manager

When selecting a manager, most people start, logically enough, with the returns. That is the money manager’s product, after all. But all too often the disclosure that past performance is no guarantee of future returns seems to be more of … Read More →

Richard Rooney

Surviving Success: Investment Management and Value Added

In the investment management business, the greatest enemy of success is success itself. From birth through decline, the typical path of a money manager is quite predictable if three fundamental opponents to value added are not recognized and carefully addressed. … Read More →

Richard Rooney

Sources of Volatility in Equity Markets

Since the world financial crisis began in mid-2008, high-quality investments have greatly outperformed lower-quality ones. It hasn’t been a straight line outperformance by any means, given the bouts of government risk subsidization that we have seen in 2009 and 2010, … Read More →