Details Are Part of Our Difference
Embracing the Evidence at Anheuser-Busch – Mid 1980s
529 Best Practices
David Booth on How to Choose an Advisor
The One Minute Audio Clip You Need to Hear
Category: Philosophy
Jonathan Clements and the Seven Lies of an Investor
Jonathan Clements is one of our favorite journalists because of his common-sense approach and his focus on what is best for investors. Creating awareness is one way to combat the lies mentioned by Clements in his recent WSJ piece. The other is having an advisor on your side. Click here to read more.
Better Outcomes with Less Agony
Matt Hall shares how reading Larry Swedroe’s first book brought him solace after having spent time in an industry where everything was too akin to gambling in Vegas.
What is the ‘Market’ Really Made of?

It’s certainly not the “Dow” as Allan Sloan so excellently covered in his recent piece. (You can also find the perfect summary by The Week here.) It’s not even the S&P 500—which is just the 500 largest companies in the U.S. Add in nearly all US, International, and Emerging Market stocks, bringing your total in the neighborhood of 12,000 companies, and then you’ll have a feel for what we call global capitalism. That’s also what we at Hill consider to be the true market. The image above shows the percent that each country represents in world market capitalization as of December 31, 2014. Note where some markets might be much smaller that expected. Even the U.S. only represents 52% of the total, whereas most investors we meet come with portfolios that have little other exposure outside of that.