Seminars

Volume 1:

Planning for Lifetime Income in Retirement

The first seminar in this series contains:

• A thousand-word, bulletized essay on the twelve hallmarks of all truly effective seminars.
• A user’s guide to this specific seminar, clearly highlighting its essential points, and enabling you to edit/update it at will, or as your compliance function requires.
• The draft seminar itself – a total of fifteen slides – with a bulletized script of the key points you’ll wish to make as you speak to each slide.

This draft focuses clearly on three key ideas:

1. A two-person, three-decade retirement is essentially a problem of income more than it is of principal. Income must grow to keep pace with inflation, or the retirees will start running through their capital.
2. Historically, the cash dividends of the S&P 500 have grown at a considerable premium to inflation.
3. We can get a very rough idea of how much money you’ll need at retirement by capitalizing your income requirement at some assumed going-in withdrawal rate.

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Volume 2:

Fifty Years, Three Bear Markets

This seminar contains:

• A thousand-word, bulletized essay on the twelve hallmarks of all truly effective seminars.
• A user’s guide to this specific seminar, clearly highlighting its essential points, and enabling you to edit/update it at will, or as your compliance function requires.
• The draft seminar itself – a total of eighteen slides – with a bulletized script of the key points you’ll wish to make as you speak to each slide.

This draft focuses clearly on four key ideas:

1. The shares of even America’s finest companies have experienced frequent declines in price.
2. Some of these declines, driven by very real crises, have been quite significant.
3. Despite these setbacks, leading U.S. companies have continued to grow their earnings and dividends strongly over time.
4. Their shares have overcome even the deepest declines more rapidly than one might expect—and gone on to new heights

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Volume 3:

Three Emotional Pitfalls in Long-Term Equity Investing

This seminar contains:

• A thousand-word, bulletized essay on the twelve hallmarks of all truly effective seminars.
• A user’s guide to this specific seminar, clearly highlighting its essential points, and enabling you to edit/update it at will, or as your compliance function requires.
• The draft seminar itself – a total of twenty slides – with a bulletized script of the key points you’ll wish to make as you speak to each slide.

What this seminar is for:

• Investors are often their own worst enemies, behaviorally. Our essentially behavioral advice to them is of great value. But this is a fairly tricky conversation to start. This seminar very gently and empathetically starts it.
• Its main idea: Many destructive behavioral impulses are normal, natural and, above all, human. We all feel these things.
• The Three Pitfalls:
  1. We feel the pain of market declines twice as much as we enjoy market advances.
  2. We fly from market declines instead of experiencing them as opportunities to invest when quality equities are “on sale.”
  3. When fear strikes, we lose the ability to distinguish between temporary decline and permanent loss. (“This time it’s different.”)
• The seminar’s conclusion: An advisor’s most important and most valuable function is to guide clients past these pitfalls.

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Volume 4:

The Price of Admission

This seminar contains:

• A thousand-word, bulletized essay on the 12 hallmarks of all truly effective seminars.
• The draft seminar itself – a total of 18 slides – with a bulletized script of the key points you’ll make to each slide
• A user guide to this particular seminar, clearly highlighting its essential points, and enabling you to edit and/or update it as you wish, or as your compliance function requires.
• Very extensive Speaker’s Notes that provide additional talking points.

What this seminar is for:

• It enables you to deliver in 25 minutes the three most powerful points in the book This Time Isn’t Different: Shockproofing Our Clients. This format lends itself to group presentations, Zoom meetings and face-to-face presentations at your desk.
• The most important of these is The Package: the reality that since the market can never be consistently timed, the premium returns are inseparable from the temporary declines. The declines are in fact the price of admission to compounding wealth.
• Investors will be far better off to think of what they own as enduringly successful companies – businesses that they patronize all the time – rather than volatile
• In major market panics, the fear-driven prices of stocks temporarily fall far below the enduring value of companies. Then those real values reassert themselves in rising earnings and dividends.

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