William Reichenstein

William Reichenstein, CFA, holds the Pat and Thomas R. Powers Chair in Investment Management at Baylor University. bill_reichenstein@baylor.edu.

Articles by this Author

1. Portfolio Strategies »

   Insured Investment Products: The Reality Behind the Hype

   Portfolio Strategies: Insured products promise the upside of a speculative asset, while attempting to limit the downside risk. But can these products deliver--and are they useful additions to an investor's portfolio?

   November 2004 | Journal

2. Portfolio Strategies »

   What Are You Really Getting When You Invest in a Hedge Fund?

   Portfolio Strategies: Hedge funds are touted for providing strong historical returns and being weakly correlated with the stock market. If it seems too good to be true, it probably is. What you should know about adding hedge funds to your portfolio.

   July 2004 | Journal

3. Portfolio Strategies »

   Retiree Stock Allocation Recommendations: Do You Fit the "Mold"?

   How much of your portfolio should be invested in stocks if you are living off of your retirement savings? A look at where the professional advisors agree and disagree concerning the "typical" investor.

   February 2004 | Journal

4. Portfolio Strategies »

   Allocation During Retirement: Adding Annuities to the Mix

   At its most basic level, the decision to annuitize involves the trade-off between longevity risk and the bequest motive: The major advantage of annuitization is the reduction in longevity risk.

   November 2003 | Journal

5. Portfolio Strategies »

   Retirement Planning: Annuities and When They May Make Sense

   Low-cost annuities can make sense when compared to taxable investments for bond investors and active stock investors with long investment horizons. They do not make sense for long-term buy-and-hold investors.

   July 2003 | Journal

6. Portfolio Strategies »

   Ten Lessons You Should Learn From Recent Market History

   A review of returns from 1987 through 2002, encompassing both strong bull and fierce bear markets, shows that a fixed-weight portfolio that includes both bonds and stocks and is rebalanced annually is One Good Strategy.

   February 2003 | Journal

7. Portfolio Strategies »

   When Should You Start Your Social Security Benefits?

   Is it worth the delay in receiving Social Security benefits to get a higher monthly payment? Strategies for maximizing the present value of expected benefits.

   November 2002 | Journal

8. Portfolio Strategies »

   Planning for Retirement: What to Expect From Social Security

   To properly manage Social Security benefits, you need to understand their key features. And as you approach retirement, you need to have an idea of how your decisions could affect the size of future benefits.

   February 2002 | Journal

9. Features »

   How to Benefit From Reduced Capital Gains Rates

   Tax Strategies: The Tax Relief Act of 1997 established lower capital gains tax rates for assets held for more than five years and sold sometime after 2000. Special election rules also allow individual to reset a stock's acquisition date to Jan. 2, 2001.

   November 2001 | Journal

10. Features »

    The Investment Implications of Lower Stock Return Prospects

    Portfolio Strategies: There is a strong consensus among academics and professionals that long-run U.S. stock prospects are below average. Market multiples, which even with the market decline are well above average, suggest below-average future prospects.

    October 2001 | Journal

11. Features »

    A Look at Roth IRA Conversions and Other Taxing Issues

    Portfolio Strategies: Which type of plan offers the best tax benefits for retirement savings: the deductible IRA, the Roth IRA or a 401(k) with matching contributions? Some simple math models to shed light on these complex issues.

    May 2000 | Journal

12. Features »

    The Investment Implications of Tax-Deferred vs. Taxable Accounts

    Feature: Allocating a given mix among accounts with different tax structures can be a taxing question. A look at the investment implications.

    April 1997 | Journal

13. Features »

    Basic Truths About Asset Allocation: A Consensus View Among the Experts

    Feature: The widespread consensus among investment professionals reveals basic truths concerning the appropriate asset mix for the typical investor.

    October 1996 | Journal

14. Retirement Planning »

    Retiree Stock Allocation Recommendations: Do You Fit the "Mold"?

    A look at where the professional advisors agree and disagree concerning the "typical" investor.

    | Evergreen