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Category: A piece we love
A Legend Passes
The investing world recently lost one of its quiet pioneers, Mac McQuown. While his name may not be widely recognized outside our industry, his influence runs deep. A trailblazer in modern investing, Mac’s visionary contributions laid the groundwork for the strategies many investors benefit from today. As David Booth, Co-Founder of Dimensional Fund Advisors, aptly noted, Mac was a true transformer in the field. [Click the quote to read Dimensional’s tribute.]
“Catalyst” is the keyword. There are so many useful nuggets in the attached article in the Financial Times that you’ll be better off reading it. In a short space, you will learn the history of evidence-based investing, the first index fund (Mac’s creation), the birth of many future Nobel Laureates, and their impressive connection to Dimensional, Blackrock, and other global finance leaders.
If you want to know and understand the recipe you’re investing in when investing with Hill, this is one of the better shortcuts to taking the long view you’ll ever read.
Taking the Longview with Jonathan Clements
As we step into the season of giving thanks, I came across a deeply moving piece by former Wall Street Journal columnist Jonathan Clements. At 61, Jonathan is facing a terminal cancer diagnosis, with less than a year to live. Despite this, he’s embracing what he calls “the long view”—not for himself, but for his wife, children, and the causes he cares about.
Jonathan is using the time he has left to do what matters most: have heartfelt conversations, take meaningful action, and leave a legacy of love and purpose. This is a poignant reminder of how precious our time really is.
This resonates with me on a personal level. I’m also 61, and like many, I find myself thinking there’s always “plenty of time.” But the truth is, none of us knows how much time we have. My own career pivot to wealth advising was shaped by loss—my father passed away from cancer at 67, completely altering my life’s direction.
Yet, like the cobbler whose children have no shoes, I realize I still have unfinished conversations with my own family. This season, I’m reminded that it’s never too early to talk, laugh, cry, and share your gratitude with those you love.
Let’s take the upcoming holidays as a chance to do just that. Investing in these moments of connection today—just like investing for your financial future—pays dividends for years to come.
That’s the true meaning of taking the long view.
Master Yourself (and let us help)
One of our all-time favorite columnists, whose insights we’ve shared here before, is Jason Zweig of The Wall Street Journal. Jason authors “The Intelligent Investor,” a column named after Benjamin Graham’s classic book—often referred to as the ultimate guide on investing. (Warren Buffett calls it “the best book about investing ever written!”)
Jason’s opening line in his latest article sums up a core message you’ve seen here for years and in our client letters:
“Investing isn’t about mastering the markets; it’s about mastering yourself.”
Put simply, your behavior as an investor has a greater impact on your long-term returns than any market movement. This is where we come in—to help you stay calm and fully invested, whether markets are booming or turbulent.
As Benjamin Graham said in 1949:
“The investor’s chief problem—and even his worst enemy—is likely to be himself.”
In today’s environment, staying steady is harder than ever with social media, trading apps, and online distractions. For more on why, we highly recommend Jason’s full article here, which includes links to further resources. And of course, we’re always here to talk through any of these topics—just give us a call or schedule a time here.