Kevin Grogan

CIO, Systematic Strategies of Focus Partners Wealth | Focus Partners Advisor Solutions. What I post is my opinion and not my employer's.

[Kevin Grogan @KevinGrogan_]

.@MichaelPhelps and I have combined for 3 appearances on @YahooFinance and 23 Olympic gold medals.

[Daniel Roberts @readDanwrite]

.@MichaelPhelps joining us in a moment on @YahooFinance Live. 🏊‍♂️

[Kevin Grogan @KevinGrogan_]

@PatrickRansdell

[Kevin Grogan @KevinGrogan_]

S&P Global Ratings just gave the Cliffwater Corporate Lending Fund (CCLFX) an ‘A’ rating with a stable outlook. Another sign that private credit is moving into the mainstream. https://t.co/w7joicUdE1

[Kevin Grogan @KevinGrogan_]

Dimensional just earned SEC approval to add ETF share classes to select mutual funds. This gives investors more flexibility and may improve tax efficiency. Credit to Dimensional for pushing the industry forward. https://t.co/MSwpT1FGQk

[Larry Swedroe @larryswedroe]

My recent, “If Active Investing Is the Loser’s Game, What’s the Winner’s Game?” sparked a passionate response from Jeff Joseph, provides an excellent opportunity to examine the mathematical realities and empirical evidence
https://t.co/Ae3OGHFb3D

[Clifford Asness @CliffordAsness]

I am fond of saying that active management is an inherently arrogant act. Because the average can’t beat the average by investing actively (not market cap indexed) rather you have to assume you are decently better than average. It’s an arrogance, to nobody’s shock who knows me, that I willingly embrace (I use active here as deviating from the index, my friend this article stupidly maligns @larryswedroe distinguishes systematic tilts from active company by company stock picking).

But this article (link in next post) is way over arrogant in its arguments most of which are just wrong. So many silly things, all said with a (unwarranted) superior dismissive nasty tone.

Just a few
- it’s not about the S&P 500, a centerpiece of the silliness in the article, use the Wilshire 5000 if you like (total straw man)
- all you have to do to beat the average is steer towards high “active share”? Really? Nope, debunked crapola (https://t.co/aqSBaA4HsX). And the idea that it’s that easy should be rejected instinctively by anyone with a clue.
- of course it’s ridiculously obvious that if you think you’re well above average you should deviate from the average; Larry’s (and so many others’) point is the average isn’t better than the average so the average investor shouldn’t play; how this isn’t good advice is beyond me
- dismissing the average not being able to beat the average as a silly trite “tautology” is ridiculous as clearly many do not grasp this; the point yes it’s a tautology but it’s a tautology that is ignored by many who should not do so (not that it’s mathematical genius)

But mostly it’s the tone. I like some studied arrogance and combativeness (I think that’s obvious). But not this much and not while being this wrong and not while attacking a good man speaking the truth.

[Kevin Grogan @KevinGrogan_]

I’ve seen this movie before!

[Astronomer @astronomerio]

Thank you for your interest in Astronomer.

[Brian Schwartz @schwartzbWSJ]

NEW: President Trump is considering two men named Kevin for Fed chair, w/ one in Kevin Hassett on the rise

Trump spoke to Hassett at least twice in June about the Fed chair job

Warsh meanwhile wants to meet with Bessent about Fed
Story w/ @NickTimiraos
https://t.co/81rQwXof84

[Kevin Grogan @KevinGrogan_]

The best in the biz @CPAPlanner is breaking down the OBBB on this thread. Check it out!

[Jeff Levine, CPA/PFS, CFP® @CPAPlanner]

1/

🚨Breaking News🚨

The One Big Beautiful Bill (OBBB) Act has just been passed by the House, and is now on its way to the President's desk, where it will be signed into law.

With that in mind, it's time to break it down...

To read it for yourself: https://t.co/GDr0XIMel4

[Kevin Grogan @KevinGrogan_]

Really good piece by the team at AQR. Diversifying globally is always prudent, but especially so when valuation gaps reach historic extremes.

[Clifford Asness @CliffordAsness]

More gold dropping from Antti and Thom!

They turn to the topical case of US vs Non-US equities. They provide uniquely long historical perspective on this trade, highlighting the US richening relative valuation as the biggest (and not exactly sustainable) driver of US multi-year outperformance. They quote me from January, asking readers to consider if it’s possible that US overvaluation >> US exceptionalism (even if, as I believe, the US is exceptional, as it certainly has been).

[Kevin Grogan @KevinGrogan_]

Great to see this shoutout from @MarketsGrp. Proud to lead systematic strategies at Focus Partners Wealth and keep pushing forward with a disciplined, evidence-driven approach to investing.

[Markets Group @MarketsGrp]

Join us in congratulating @KevinGrogan_ of Focus Partners Wealth for being named to the 2025 Elite Private Wealth CIO—a recognition of the top Chief Investment Officers from Independent RIA firms across North America.

We celebrate their dedication, strategic vision, and commitment to innovation, recognizing the profound impact they have on their clients and the private wealth community.

Learn more about Kevin Grogan and the full list: https://t.co/YR8rP8GwJI

#MarketsGroupElitePWCIO

[Kevin Grogan @KevinGrogan_]

Market concentration is at its highest in 35 years - what does it mean for investors? Avantis dives into the data behind market concentration and the importance of diversification. https://t.co/R8O5Sdzqyi

[Kevin Grogan @KevinGrogan_]

I'm a little late in sharing this, but Cliffwater released their 2025 Private Debt Outlook. As private credit continues to play a growing role in portfolios, understanding its risks and opportunities is critical. https://t.co/5PipgZSDK0

[Kevin Grogan @KevinGrogan_]

Big news at Focus Partners Wealth! Merriman Wealth Management is joining our family, bringing even more expertise and client-focused service to our growing team. https://t.co/gvR7Jo2rQG

[Kevin Grogan @KevinGrogan_]

@WyattWheeler_NL Yeah I picked the third option.

[Kevin Grogan @KevinGrogan_]

@bpsandpieces Fortunate enough to have a photo of it from five years ago.

[diawlectical @diawlectical]

If you vote in a gymnasium they should let you hoop while you wait!!!

[Kevin Grogan @KevinGrogan_]

@bpsandpieces Brutal ending man.

[Kevin Grogan @KevinGrogan_]

@conorsen I think you have the NBA ones. From college I’d go with the Villanova buzzer beater to win the natty and Hayward’s halfcourt miss against Duke.

[Kevin Grogan @KevinGrogan_]

We're hiring! Buckingham is looking for a Fixed Income Portfolio Advisor and an Investment Strategist. Join our dynamic team and help shape our future. https://t.co/OK7Y5embSs

[Kevin Grogan @KevinGrogan_]

@WyattWheeler_NL I don’t see it in the catalog but I’m wondering if you have any interest in teaching a class on sub-tweeting.😂😂😂