American Investment Services, Inc.

Disciplined, Diversified, & Cost Effective

2008

August 2008 – Yes, You Can Beat the Market…Just Stop Trying

Our long-time readers are well aware of our skepticism toward “active” money managers; those who seek to outperform the overall stock market by picking “mispriced” stocks or by attempting to time the market’s gyrations. Our recommendations are instead based on the tenets of Modern Portfolio Theory (MPT) and the notion of market efficiency. Active managers …

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September 2008 – Risk Management and the Death of Wall Street

Investors have experienced the most dramatic upheaval in capital markets since the Great Depression. On several recent days your portfolio has probably experienced tremendous swings. However, thanks to prudent diversification that includes portfolio insurance in the form of gold, cash and short-term bonds, and most importantly by avoiding needlessly complex investment vehicles, we are confident …

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