Aram S. Durphy, JD

A look at why broker-dealers create structural conflicts of interest with their clients. And why fee only investment advisors are a better option.

Year end roundup of the stock and bond markets and a look at the state of the economy. Looking forward to the debt ceiling negotiations and whether to hedge.

The fiscal cliff negotiations are not the only economic story this week. The most important sectors of the economy—business and consumers— were both resilient in November, even as the U.S. moved closer to the fiscal cliff.

I explain why I will not hedge client portfolios against the fiscal cliff negotiations.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at two important, but often overlooked, sets of data for valuing a stock: cash flow and receivables. And why they add value to more common stock metrics.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at how to invest we should understand the business, see favorable long-term prospects, look for honest and competent managers, and find it at an attractive price.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at how day traders under-perform the market in the long-term because short-term movement is volatile, unpredictable, and influenced by irrational behaviors.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at how market psychology is an important tool for smart investors. Avoid the short-term investment view: it is peer driven, and subject to investor fear and greed.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at the volatility of stock market returns in individual years, and how over the long-term that volatility adds up to a consistent return.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at highlights from Warren Buffett's annual letter. Includes topics on bonds, stocks, gold, cash, and investment strategy.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at Warren Buffett's bet that hedge funds can't beat the market. A value investor looks at probability, and how it can work for you in the long-term.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at how the European debt crisis has created a buying opportunity, as value abounds in stocks and bonds. I maintain my forecast for long-term market growth.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at how value-investing requires a long-term approach with an even temperament. Liberty Hill is a money manager that focuses on long-term value investing.

San Francisco, CA - Aram Durphy, a financial advisor with Liberty Hill Investing, takes a look at how, of the major assets most investors can own, stocks have performed the best on average over the long-term.

This past quarter I hedged stock holdings against the debt ceiling crisis. This is an unusual investment strategy for my portfolios, for a singular event.

Five years is an important benchmark for an investment firm because it moves portfolios from short-term to long-term investing.