Early March, I sent out a letter to all my clients with the byline ‘It is scary’. The basic premise of that admittedly long letter was that we were experiencing what I’d like to call a ‘bubble of pessimism’. I recommend a reread of that letter – the lessons have since been burned into your portfolio.

There was a great article in the New York Times last month: How Men’s Overconfidence Hurts Them as Investors. The data came from Vanguard, the king of index funds, and it offers a valuable message.

There’s an excellent article in the April 9th, 2011 edition of The Economist under the byline ‘The Foolishness of Crowds’. In many instances it’s been shown that the judgment of a group (or crowd) is often superior to that of the most skilled individuals within the group.

Until recently, it was unclear what, if any, parts of the healthcare overhaul would survive the Supreme Court’s ruling. When the court affirmed the law, investors – and tax advisors – found themselves facing a new financial landscape.