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On this episode of Intelligent Money Minute, we interviewed Chace Campbell, a distinguished attorney based in Greenville, with over 20 years of legal experience. Chace’s story is one of diverse experiences and deep-rooted passion for the law, family, and business.

Early Influences and Entrepreneurial Roots

Chace’s journey began in his childhood, growing up as the only child of a serial entrepreneur. His father’s ventures provided Chace with an early education in business, sparking his interest and shaping his understanding of what it means to be a business owner. He recalls fondly the times his father would take him along to business meetings, allowing him to observe and learn the intricacies of various industries.

These experiences were more than just father-son bonding moments; they were foundational lessons that would later inform Chace’s legal practice. “The education I got from those experiences has stayed with me throughout my life,” Chace reflects. This early exposure to business operations equipped him with a unique perspective that he brings to his legal practice, especially when dealing with business owners and entrepreneurs.

The Path to Law

Despite his entrepreneurial upbringing, Chace always aspired to be a lawyer. Initially influenced by iconic TV lawyers like Perry Mason and Matlock, Chace pursued his dream, earning his JD with honors from the University of South Carolina School of Law in 1997. His early career at Culp, Elliot, and Carpenter, P.L.L.C. saw him specializing in tax and corporate law, but it wasn’t long before he found his true calling.

In 2002, Chace transitioned to focus on family law, probate, and small businesses. This shift was driven by his passion for the interpersonal dynamics within these areas, where he felt he could make the most significant impact. His ability to listen attentively and communicate effectively has made him a trusted advisor for his clients, helping them navigate complex legal landscapes.

Building His Own Practice

After several years of working with established firms, a pivotal moment in Chace’s career came when he was appointed to represent three children whose mother had been incarcerated. This experience was a turning point, inspiring him to start his own practice. In 2002, he founded Chace Law, initially focusing on guardianship cases before expanding to encompass business and estate planning.

Chace’s practice is characterized by a holistic approach, recognizing the interconnectedness of business, probate, and estate planning law. “Those are not really three different areas to us; those are really interconnected,” he explains. This integrated perspective allows Chace to offer comprehensive legal solutions tailored to the unique needs of his clients.

A Day in the Life

Today, Chace’s clients range from entrepreneurs and business owners to individuals dealing with estate planning and probate issues. His practice areas may seem distinct, but they often intersect, reflecting the complexity of modern legal challenges. Chace’s goal is to provide decisive legal action balanced with compassionate understanding, ensuring his clients receive the best possible outcomes.

Stay tuned for more interviews with Chace, where we’ll dive deeper into his expertise and the valuable lessons he has to share with our intelligent investing audience, so be sure to subscribe to our Intelligent Money Minute podcasts.

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Chace Campbell Bio

Chace is a seasoned legal professional with over 20 years of experience in estate planning, business law, and probate. He began his career in 1997 at Culp, Elliot, and Carpenter, P.L.L.C., focusing on tax and corporate law before discovering his passion for family law, probate, and small businesses in 2002.

Chace is renowned for his exceptional communication skills and careful listening. He is dedicated to helping clients navigate complex legal landscapes, providing comprehensive understanding and effective resolutions through litigation, mediation, negotiation, or forward planning. He emphasizes both resolving and preventing legal issues, offering accurate information, honest advice, and concrete action steps.

Outside of work, Chace enjoys time with his wife Michelle and their three children, preparing for outdoor adventures at REI, and indulging in his passion for coffee.

Credits: This blog was written in part by ChatGPT, an AI language model developed by OpenAI. The content of this blog reflects the knowledge and opinions of ChatGPT, may or may not reflect the knowledge and opinions of Intelligent Investing, and is protected by copyright laws. Please do not reproduce or distribute without giving proper credit to ChatGPT and OpenAI.

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In this episode of Intelligent Money Minute, I had the pleasure of interviewing Larry Swedroe, head of Financial and Economic Research at Buckingham Strategic Wealth, on what an intelligent investor should do with market outlooks.

The Reality of Market Forecasts

Larry firmly grounds his perspective in empirical evidence, highlighting that market forecasts hold no genuine value. The research indicates that predicting the future is beyond the prowess of even the most esteemed experts. Warren Buffett, revered for his investing prowess, hasn’t entertained macro forecasts for over 25 years, emphasizing their futility in guiding long-term plans.

An intriguing paradox emerges when investors revere individuals like Buffett or Peter Lynch yet often disregard their advice. Larry notes the danger of succumbing to predictions by market gurus like Jeremy Grantham, whose forecasts have often faltered, leading investors astray. The empirical evidence reaffirms that forecasting market trends accurately remains elusive.

The Ark Investment Phenomenon

Kathy Wood’s approach at Ark Investments soared on a narrative of disruptive technologies, akin to the late 90s tech boom. However, as Larry points out, this strategy historically led to significant volatility and long-term underperformance. Wood’s fund initially gained traction, attracting billions of dollars during its successful periods, only to face substantial challenges when those speculative trends faltered.

The pattern echoes a cycle familiar in investing: rising investor interest leads to inflows, magnifying the fund’s exposure and driving up the prices of thinly traded stocks. This reinforcement ultimately feeds back into the momentum, creating a self-fulfilling prophecy. However, when these high expectations are not substantiated by earnings, the bubble bursts, leaving investors vulnerable.

Prudent Advice for Investors: Tune Out Market Forecasts

Larry’s analysis emphasizes that while Kathy Wood’s strategies occasionally yield short-term successes, they often culminate in long-term disappointments. This rollercoaster ride in performance, influenced by speculative investments in disruptive technologies, serves as a cautionary tale for investors.

Larry Swedroe’s wisdom is clear: investors should tune out market forecasts and strategists and adhere to well-crafted investment plans. Instead of chasing returns or following the latest headlines, the focus should remain on executing well-thought-out plans. He cautions against hasty reactions driven by market noise.

For those seeking a financial advisor or aiming to reevaluate their investment strategies, we extend an invitation to connect with us. Our goal is to help you minimize financial stress and maximize your life’s potential through informed, tailored financial decisions.

Schedule a short discovery call or meeting

We’ll be interviewing Larry on several podcasts regarding markets, passive investing, and diversification, so be sure to subscribe to our Intelligent Money Minute podcasts.

Larry was among the first authors to publish a book that explained the science of investing in layman’s terms, “The Only Guide to a Winning Investment Strategy You’ll Ever Need.” He has since authored seven more books.

Larry Swedroe Bio

Since joining Buckingham Strategic Wealth in 1996, Chief Research Officer Larry Swedroe has spent his time and energy educating investors on the benefits of evidence-based investing.

In his role as chief research officer and as a member of the firm’s Investment Policy Committee and Board of Directors, Larry regularly reviews the findings published in dozens of peer-reviewed financial journals, evaluates the outcomes and uses the result to inform the firm’s formal investment strategy recommendations.

Larry’s dedication to helping others has made him a sought-after national speaker. He has made appearances on national television shows airing on NBC, CNBC, CNN and Bloomberg Personal Finance. Larry is a prolific writer, contributing regularly to multiple outlets, including Advisor Perspectives and ETF.com.

Before joining Buckingham, Larry was vice chairman of Prudential Home Mortgage and senior vice president at Citicorp.

Larry holds an MBA in finance and investment from NYU and a bachelor’s degree in finance from Baruch College.

Credits: This blog was written in part by ChatGPT, an AI language model developed by OpenAI. The content of this blog reflects the knowledge and opinions of ChatGPT, may or may not reflect the knowledge and opinions of Intelligent Investing, and is protected by copyright laws. Please do not reproduce or distribute without giving proper credit to ChatGPT and OpenAI.

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In this episode of Intelligent Money Minute, I had the pleasure of interviewing Larry Swedroe, head of Financial and Economic Research at Buckingham Strategic Wealth, on what an intelligent investor should do when an asset class falls out of favor.

All Risk Investments: Enduring the Ebb and Flow

Larry emphasizes a fundamental truth: every risk investment, whether it’s stocks, bonds, commodities, or others, experiences prolonged periods of underperformance. Investors often underestimate these cycles, mistakenly assuming that three, five, or even ten years are lengthy evaluation periods. However, historical evidence proves otherwise, with instances where the S&P 500 trailed behind treasury bills for 13-year durations occurring three times since 1929.

The crux of Larry’s advice centers on diversification across various unique risks, aligning with one’s risk tolerance. This strategy, substantiated in his book, “Your Complete Guide to Factor-Based Investing,” promotes the inclusion of assets proven to offer premiums over time. Diversifying globally and including varied sources of risk—be it stocks, bonds, commodities, or currencies—reduces dependency on any single investment, mitigating the impact when a particular asset class is out of favor.

Intelligent Investing: A Holistic Approach

Larry Swedroe’s wisdom underscores the importance of persistence and diversification in an investor’s journey. When faced with an asset class in decline, staying committed to a diversified strategy tailored to individual risk tolerances is key. We invite you to engage with us in exploring your unique risk profile and leveraging our financial technology to fortify your investment journey.

For those seeking a financial advisor or aiming to reevaluate their investment strategies, we extend an invitation to connect with us. Our goal is to help you minimize financial stress and maximize your life’s potential through informed, tailored financial decisions.

Schedule a short discovery call or meeting

We’ll be interviewing Larry on several podcasts regarding markets, passive investing, and diversification, so be sure to subscribe to our Intelligent Money Minute podcasts.

Larry was among the first authors to publish a book that explained the science of investing in layman’s terms, “The Only Guide to a Winning Investment Strategy You’ll Ever Need.” He has since authored seven more books.

Larry Swedroe Bio

Since joining Buckingham Strategic Wealth in 1996, Chief Research Officer Larry Swedroe has spent his time and energy educating investors on the benefits of evidence-based investing.

In his role as chief research officer and as a member of the firm’s Investment Policy Committee and Board of Directors, Larry regularly reviews the findings published in dozens of peer-reviewed financial journals, evaluates the outcomes and uses the result to inform the firm’s formal investment strategy recommendations.

Larry’s dedication to helping others has made him a sought-after national speaker. He has made appearances on national television shows airing on NBC, CNBC, CNN and Bloomberg Personal Finance. Larry is a prolific writer, contributing regularly to multiple outlets, including Advisor Perspectives and ETF.com.

Before joining Buckingham, Larry was vice chairman of Prudential Home Mortgage and senior vice president at Citicorp.

Larry holds an MBA in finance and investment from NYU and a bachelor’s degree in finance from Baruch College.

Credits: This blog was written in part by ChatGPT, an AI language model developed by OpenAI. The content of this blog reflects the knowledge and opinions of ChatGPT, may or may not reflect the knowledge and opinions of Intelligent Investing, and is protected by copyright laws. Please do not reproduce or distribute without giving proper credit to ChatGPT and OpenAI.

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In this episode of Intelligent Money Minute, I had the pleasure of interviewing Larry Swedroe, head of Financial and Economic Research at Buckingham Strategic Wealth, on the topic of whether Bitcoin is truly a good inflation hedge.

Blockchain Technology’s Potential

Larry Swedroe commenced the discussion by emphasizing the potential of blockchain technology, the foundation on which cryptocurrencies like Bitcoin are built. The blockchain is already revolutionizing the financial sector by facilitating faster and more efficient payment transfers and record-keeping. 

While the blockchain shows promise, Swedroe took a more skeptical view of Bitcoin. He pointed out that Bitcoin’s value proposition is questionable. Bitcoin has a theoretical limited supply, capped at 21 million coins. However, the existence of an unlimited number of substitute cryptocurrencies means Bitcoin faces a daunting challenge. An asset with an unlimited supply typically sees its value approach zero. Swedroe categorized Bitcoin as a Ponzi scheme, though he acknowledged that it could achieve high trading values based on what people are willing to pay.

Bitcoin: A Poor Inflation Hedge

Swedroe was humble in his skepticism, admitting he might be wrong. He would never recommend shorting Bitcoin. Nevertheless, he found comfort in the agreement of financial economists like John Cochran and Nobel laureate Gene Fama, who shared his view on Bitcoin’s intrinsic value.

Addressing a common belief that Bitcoin is an inflation hedge, Swedroe made it clear that Bitcoin’s performance does not support this notion. Its value is highly volatile and can plummet significantly during times of rising inflation.

Speculation ≠ Intelligent Investing

Swedroe’s insight serves as a reminder that speculation does not equate to intelligent investing. While some may choose to speculate on Bitcoin or other cryptocurrencies, such endeavors come with substantial risks and should be approached with caution.

At Intelligent Investing, we prioritize serving high-net-worth clients. Through our proprietary financial technology, Intelligrations®, we help our clients minimize financial stress and maximize their quality of life. If you’re seeking a new financial advisor or haven’t had one before, we’re here to discuss your financial goals and risk tolerance. We aim to provide sound financial advice and services tailored to your unique circumstances.

Schedule a short discovery call or meeting

We’ll be interviewing Larry on several podcasts regarding markets, passive investing, and diversification, so be sure to subscribe to our Intelligent Money Minute podcasts.

Larry was among the first authors to publish a book that explained the science of investing in layman’s terms, “The Only Guide to a Winning Investment Strategy You’ll Ever Need.” He has since authored seven more books.

Larry Swedroe Bio

Since joining Buckingham Strategic Wealth in 1996, Chief Research Officer Larry Swedroe has spent his time and energy educating investors on the benefits of evidence-based investing.

In his role as chief research officer and as a member of the firm’s Investment Policy Committee and Board of Directors, Larry regularly reviews the findings published in dozens of peer-reviewed financial journals, evaluates the outcomes and uses the result to inform the firm’s formal investment strategy recommendations.

Larry’s dedication to helping others has made him a sought-after national speaker. He has made appearances on national television shows airing on NBC, CNBC, CNN and Bloomberg Personal Finance. Larry is a prolific writer, contributing regularly to multiple outlets, including Advisor Perspectives and ETF.com.

Before joining Buckingham, Larry was vice chairman of Prudential Home Mortgage and senior vice president at Citicorp.

Larry holds an MBA in finance and investment from NYU and a bachelor’s degree in finance from Baruch College.

Credits: This blog was written in part by ChatGPT, an AI language model developed by OpenAI. The content of this blog reflects the knowledge and opinions of ChatGPT, may or may not reflect the knowledge and opinions of Intelligent Investing, and is protected by copyright laws. Please do not reproduce or distribute without giving proper credit to ChatGPT and OpenAI.