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The Tom Dupree Show

The Tom Dupree Show

De: Tom Dupree
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Investing For Retirement. Economía
Episodios
  • HOUR2 Inflation 4-04-26

    HOUR2 Inflation 4-04-26
    Apr 5 2026

    The post HOUR2 Inflation 4-04-26 appeared first on Dupree Financial.
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    45 m
  • The Hidden Cost of DIY Investing: What You Don’t Know You’re Losing

    The Hidden Cost of DIY Investing: What You Don’t Know You’re Losing
    Apr 5 2026
    Managing your own investments can feel empowering — and for many people, it genuinely works well. But for those thinking about retirement or already living in it, DIY investing carries hidden risks that don’t always show up on your monthly statement. In a special Evergreen edition of The Tom Dupree Show, host Tom Dupree and portfolio manager Mike Johnson break down what the FINRA Investor Education Foundation and decades of real-world experience confirm: the biggest costs of doing it yourself are rarely the ones you can see. Whether you’ve been successfully picking your own stocks for years or you’re simply rolling over old 401(k)s and hoping for the best, this conversation is worth your time — especially if no one has ever looked at the full picture of your retirement income strategy. What the Data Says About DIY Investor Returns Tom Dupree opened the episode with a statistic that catches most self-directed investors off guard. Research from DALBAR’s Quantitative Analysis of Investor Behavior shows that the average DIY investor significantly underperforms the S&P 500 over a 20-year period — not because of bad stock picks, but because of behavior. “People aren’t gonna get it right all the time,” Tom said. “And when you’re doing all your own thinking, there may be times when you have to bounce it off of somebody else — and you may or may not have that person to do it with.” The culprit isn’t ignorance. It’s the “committee of one” problem — making every buy, sell, and hold decision alone, without an outside perspective to catch emotional blind spots or structural weaknesses in the portfolio. The Real Price of One Bad Decision To make the math concrete, Tom walked through a straightforward example. If a retiree sold $300,000 at a market bottom and sat in cash for just 60 days, missing approximately 15% in recovery, that’s $45,000 in lost growth — not from a market crash, but from one reactive decision made at the worst possible moment. The SEC’s Office of Investor Education has long cautioned against market timing for this exact reason. As Tom put it, “Fear or hope — neither one is a strategy.” Miss the five largest single-day market gains in any given decade, and your annualized return drops from roughly 10% toward the 6–7% range. Miss the 20 largest moves, and your returns are barely better than bonds. That’s the cost of being reactive in a market that rewards patience and discipline. The Concentration Trap: Why “Diversified” Portfolios Aren’t Always Diversified Mike Johnson pointed to one of the most common patterns he sees when new clients come in from the DIY world: heavy concentration in a small number of stocks — often in a single sector. “A lot of them have been concentrated in tech,” Mike said. “And that served them well, for the most part. But they’re heavily concentrated — not just in number of names, more specifically heavily concentrated in a particular sector. And when things turn in that sector, it’s painful.” This matters more than most people realize. Even investors who believe they’re diversified by owning an S&P 500 index fund may be surprised to learn that the index is market-cap weighted — meaning the largest (and often most expensive) companies make up a disproportionate share of every dollar invested. Tom made a point worth sitting with: a single well-managed conglomerate like Berkshire Hathaway may actually offer more true diversification than an S&P 500 index fund, simply because of what it owns across unrelated industries. The question isn’t how many stocks you hold. It’s how those holdings interact with each other — and whether your exposure is calibrated to your actual retirement income needs, not just the structure of an index. Learn more about how Dupree Financial Group approaches this differently on our Investment Philosophy page. What “Monitoring” Really Means — and What Most DIY Investors Miss There’s a big difference between watching your account balance go up and down and actually monitoring a portfolio. Mike broke this down clearly. “In their mind, monitoring is looking at the market value on a monthly basis,” he said. “Real portfolio monitoring is trying not to be reactive — but proactive.” Proactive monitoring means tracking individual holdings, understanding why you own what you own, making calls to investor relations departments, and asking forward-looking questions about how a company will respond to interest rate changes, sector shifts, or earnings surprises. It means asking not just “what happened?” but “what might happen — and are we positioned for it?” That level of ongoing research is what separates passive account-watching from actual portfolio management. It’s also what the team at Dupree Financial Group does every day on behalf of clients — including regular investor relations calls that the average individual investor simply doesn...
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    45 m
  • HOUR3 3-28-26

    HOUR3 3-28-26
    Mar 30 2026

    The post HOUR3 3-28-26 appeared first on Dupree Financial.
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    43 m
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