Investment Manager Roger Schreiner

Welcome to Calculated Success

I have spent the last 40 years of my life studying the science of investing.  The financial markets are the focus of my life’s work. Since 1989 I have been writing a newsletter for individual investors with the goal of helping them become better investors.  Today we are doing more research and more writing than […]

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Expect the Unexpected: Lessons of the Century – Part 2

Last week we started a 3-part series that highlights the work of Dr. Bryan Taylor, President and Chief Economist of Global Financial Data, and his paper, “Ten Lessons for the Twenty-first Century Investor.”  His insights are so valuable I wanted to condense it into bit size pieces that could be more easily consumed by investors.  […]

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The Most Liquid Alternative Investment – Gold

Most alternative investments failed to provide investors with the protection they were seeking during the dotcom crash of 2000-2002 and the financial crisis of 2008.  However, gold did not disappoint investors according to an article published last month by the World Gold Council.  Gold has provided low correlation to stocks and bonds, and exceptional liquidity, […]

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Why Buy-and-Hold is Dangerous in Retirement

In a recent white paper, Investing for Retirement: The Defined Contribution Challenge, Ben Inker and Martin Tarlie show that asking the right questions can help investors reach the right solutions. They argue against the conventional wisdom that retirees should invest according to their “investment personality,” which is shorthand for seeking to maximize return within their […]

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SCM Managed Gold Strategy

Many investors are unaware that Gold has outperformed all the major asset classes except for Real Estate Investment Trusts over the last twenty years. The SCM Managed Gold Strategy is a long-only, ETF-based strategy that monitors the daily price of gold in relation to a basket of other assets using a proprietary algorithm we call […]

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5 Steps to Making Better Investment Decisions

The Quantitative Analysis of Investor Behavior (QAIB) Report by Dalbar presented a rather discouraging fact in April: While the S&P500 Index returned an average of 11.11% annually over the last 30 years, individual investors only averaged 3.69%. Michael Mauboussin, one of the nation’s leading authors on the subject of behavioral finance, says, “Most of us […]

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American Kludgeocracy

Like many Americans, I was very concerned about the size of our government.  Now, after reading this excellent essay by Steven Teles, “Kludgeocracy in America,” I’m much less concerned about the size of government and much more concerned about its complexity. For me, Teles has articulated the real problem with the federal government: it’s a […]

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