You continue to assume that hiring even ditch diggers has no positive effect on output, which it does, and then argue that the debt becomes a burden on the private sector when it is, in fact, a financial asset that they have added to their portfolio.

FORBES: Obama + Ryan = Catastrophe

This means that the share price and the net-asset value are one and the same, but it also means that portfolio managers are slaves to financial fashion: when an asset class becomes popular, money comes pouring in and they must buy.

FORBES: Magazine Article

Arnott is widely published on the topic of portfolio management and asset allocation and is frequently quoted in the financial press.

FORBES: Robert Arnott: Leave Emotions Out of Investing

It also can analyze your holdings to show a complete asset allocation and other portfolio characteristics, like its geographic breakdown and volatility, that otherwise would require a financial planner or visits to multiple brokerage accounts to calculate.

WSJ: The New Money Apps