Thoughts from writing consultant, Clint Willis:

I started writing about investing in 1981, as a 24-year-old reporter for Money magazine—the only mainstream publication focused on personal finance in those days. Since then I’ve written or edited millions of words of financial and other writing for books, magazines, websites, newsletters…name it.

These days, I’m an owner of The Writing Company, in Portland, Maine; we create editorial content for advisors, financial service firms and media companies. My colleague, Sean Donahue, and I are working with Matt Hall on a book about his career as an evidence-based investor. I think the book is going to change lives. It’s already changed the way I invest.

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What do we think of active managers?

Old Answer
Those lousy, no good, overpaid, underperforming, so and so’s…

New Answer
By definition, not all active managers can beat the market before costs, and after costs, only a minority can…We absolutely need people to do research, looking for mispriced securities. The arithmetic still holds, but there is indeed a social service in finding market inefficiencies. From Nobel Laureate William Sharpe

At our annual BAM ALLIANCE conference this past October, we were fortunate to meet one of our favorite authors, Michael Lewis. His real passion, as depicted in most of his writing, is shining a light on someone who makes a brave decision. He is also one of the best authors at telling our story—as he did in his 2007 piece, The Evolution of An Investor.