Introduction
Warning labels serve a crucial role in keeping us safe. They inform us of the potential dangers of a product or activity and help prevent accidents and injuries. For instance, a warning label on a bottle of cleaning solution might tell us not to swallow it, and a label on a power tool might warn us of the dangers of using it improperly. Not only do warning labels help keep us safe, but they are also legally required to meet safety standards and regulations set by organizations such as the Consumer Product Safety Commission (CPSC). This means that companies must use clear and concise warning labels on products that pose a hazard to consumers, such as toys, appliances, and chemicals. In addition, companies use warning labels as a form of legal protection. By clearly informing consumers of potential dangers, they demonstrate that they have taken reasonable steps to protect their customers.
Warning Labels in Investing
Warning labels play an important role in the world of investing. SEC Rule 156 is a rule set by the U.S. Securities and Exchange Commission (SEC) to protect investors. The purpose of SEC Rule 156 is to promote transparency and accountability in the investment advisory industry, and to help investors evaluate the quality and suitability of the investment products and services. Additionally, SEC Rule 156 mandates mutual funds to inform investors not to rely on past performance to assess future outcomes prior to investing.
The fact is that SEC Rule 156 is there to protect investors, but the truth is that the mutual fund industry and financial media push, promote, and sell stocks, mutual funds, and fund managers based on their past performance.
Wayne Gretzky and Your Portfolio
The famous Wayne Gretzky quote, “I skate to where the puck is going, not where it has been,” is a metaphor for taking proactive steps to succeed. In hockey, it means that Gretzky was always looking ahead to where the puck was likely to be and positioning himself to receive it. In a more general sense, it can be seen as a reminder to focus on the future and take proactive steps to reach your goals.
When investing, it is important to remember the famous Wayne Gretzky quote. This is a reminder to focus on the future when making decisions, rather than relying solely on past performance. Investors should consider what will be most beneficial in the long term, rather than focusing on the short-term success of a hot fund or manager. After all, the key to successful investing lies in properly positioning your portfolio to capture global market returns through diversification across asset classes. Investing with a forward-looking mindset within the framework of a financial plan is one of the most important components of a solid investment strategy.
The Risk Return Dimensions of Asset Class Diversification is What Matters
The concept of past performance being a poor indicator of future performance is an oft-repeated adage in the world of investing. This is because markets are constantly changing and evolving, so it is difficult to predict the future performance of an asset class or portfolio based solely on its past performance. Instead, investors should focus on the risk-return dimensions of the asset classes that make up their portfolio when assessing its potential success. By evaluating the risk-return profile of each asset class and determining how they fit into the portfolio, investors can create a strategy that is more likely to achieve the desired returns without taking on excessive risk.
Managing Your Emotions and Ignoring the Wall Street Hype
Managing your emotions is a key factor in becoming a successful investor. By making decisions based on emotion instead of reason, it can be easy to get caught up in the hype of Wall Street and be influenced to make decisions that may not be in your best interest. Owning a broadly diversified portfolio of asset class funds is a great way to avoid this, as it leaves little room for individual stock picking or relying on the success of a particular fund manager. By taking an evidence-based approach to investing, investors can be sure that their decisions are in line with their long-term goals and help them achieve financial success.
A Financial Plan and Strategy is the Key to Long-Term Success
The key to successful long-term investing is to have a comprehensive financial plan and strategy. A financial plan should include goals, both short and long-term, and should be tailored to the individual investor’s needs. An effective strategy should focus on diversification across asset classes, proper risk management and monitoring of performance. Additionally, investors should follow an academic and scientific approach and remain disciplined in order to stay on track with their goals. By following these steps, investors can ensure that their portfolio is well positioned to achieve their desired returns without taking on excessive risk.
Conclusion
Past performance is not a reliable indicator of future performance and should not solely be relied upon when making investment decisions. Instead, investors should take an academic approach that focuses on diversification and risk and return management in order to achieve their desired returns. Having a comprehensive financial plan and strategy is key to long-term success in investing, and that is why we focus and guide clients through this path.
Have a great weekend!
Source: Ballentine Capital Advisors
Golf Tip of the Week
These Are The Questions You Should Be Asking Yourself Before Buying New Clubs
We’ve long said that the Golf Digest Hot List should be the start point, not the end, of your search for the best equipment for your game. It’s a trusted tool that can narrow the overwhelming choices of available clubs to a manageable number and better inform your session with a qualified fitter.
“I call it ‘wish putting,’ because you wish you made it after you missed it,” he says. “You’re trying to wish it in because you’re afraid of it.”
And just like with a good fitter it helps to answer a few questions beforehand that will identify your most important equipment needs. The only real requirement is to be brutally honest with yourself. Here are eight queries you should already know the answer to before embarking on your club-buying journey.
What am I hoping to get out of new clubs?
A lot of people want new clubs. Not everyone, however, knows why they want them. It could be that yours are old. Or you just want a chance of scenery. Or you were swayed by a tour player who uses something. Regardless of the reason, you should know why you’re doing this in the first place.
What’s the worst club in my bag?
You might be in love with the idea of grabbing hold of the latest supersonic driver, but is that what you really need? Asking yourself the above question allows you to zero in on a club (or clubs) that would serve you better than simply replacing a driver that’s only two years old. Perhaps it’s your long irons and hybrids that need an upgrade. Or that old blade-style putter that once was super reliable but now is nothing short of balky. In short, think need, not want.
What’s my budget?
No one likes to admit to spending limits, but most of us have them. Just like any other purchase you make, know what your threshold is before trying out new sticks. You don’t want to fall in love with a $1,400 set of irons if you’re not willing to spend more than $900. Why? Because you’re either going to overspend or you might feel like you’re getting a lesser club. The Golf Digest Hot List details the cost of every club on it so you can get a head start. Set your limit and stick to it. There’s likely something perfectly good for in your price range.
“Think about where the yips come from,” Harmon says. “They come from your wrists and arms.”
What is the miss I struggle with most?
The most likely reason you’re looking for new clubs is that something is not quite right with your game. But what, exactly? Are you fighting a wicked slice off the tee? Are you consistently missing greens inside 100 yards? Are you leaving it in the bunker or skulling it over the green from the sand? Or maybe you’re three-jacking as often as two-putting? If you have a stat-tracking app such as Arccos take a long look at what it’s trying to tell you. Determining the biggest flaw you’re trying to fix will lead you to the purchase that will help you the most
Do I need new wedges?
Wedges might be the least considered clubs of all, normally replaced only when the grooves on your old ones are well past their useful life. We get it. The number of loft, bounce and grind combinations can be mind-numbing. And what’s the use of testing wedges off a mat or with a range ball? Valid points, but to give the wedges short-shrift is a huge mistake. There are things you will learn by asking yourself the right questions. Do I have a wedge for pretty much every yardage I would need one for? If not, is there a club you hit less often (say a 4-iron) that you could swap out for a fourth or even fifth wedge? Is it possible the bounce and grind of your wedges are ill-suited for your swing or the condition of your course? And if your highest-lofted wedge says “S” on the sole, you have your answer. You need new wedges.
What iron category do I belong in?
Not every sole works for every type of player which is why, as a general rule (but not an exclusive one), better players tend to gravitate toward the thinner soles generally found on players or players-distance irons. Those allow for more versatility in shot-making. Those less skilled, meanwhile, tend to lean toward thicker soles on game-improvement or even super-game-improvement irons. Those clubs boast lower centers of gravity and assist in getting the ball airborne while also mitigating the effect of shots hit fat. Which one are you? Be honest, now.
Am I pushing or pulling putts?
When in the market for a putter, it’s not enough to say you’re missing too many makable putts. It’s knowing how you’re missing those putts that can help point you in the right direction of a new flat stick. Knowing your miss can help you choose between either a face-balanced putter (many mallets and center-shafted blades) or perhaps a putter with toe hang (most heel-shafted blades and some mallets). Knowing your miss is key to eventually more makes.
How much does look, sound and feel matter to me?
Whenever we’re asked why we don’t simply rely solely on robot testing for the Hot List, our answer is the same: robots don’t buy golf clubs, golfers do. That means there are things humans are either drawn to or recoil at that a robot can’t discern. That applies particularly to the look, sound and feel of a club. Do you prefer a loud sound or a muted one? Do you like minimal lines or aggressive ones? Do you want a firm feel or a soft one? Knowing your preferences can not only make the Hot List a more valuable tool (our look, sound and feel ratings combined with our writeups and player comments often provide information on such things), but might even help you choose one club over the other.
Tip adapted from golfdigest.comi
Recipe of the Week

Whiskey Orange Chipotle Chicken Thighs And Drumsticks
4-6 Servings
Ingredients
- 1/2 bunch fresh cilantro, rinsed and dried, plus more for garnish
- 4 garlic cloves, peeled
- One 8-ounce can chipotle peppers in adobo sauce (use half a can if you prefer it less spicy)
- One 6-ounce can tomato paste
- 1 1/2 cups orange marmalade
- 1 cup whiskey (substitute orange juice for a nonalcoholic version)
- 1/3 cup olive oil
- 1 tablespoon plus 1 teaspoon kosher salt
- 1 teaspoon freshly ground black pepper
- 6 chicken thighs
- 6 chicken drumsticks
Instructions
- Add the cilantro, garlic, chipotle peppers in adobo sauce, tomato paste, marmalade, whiskey, olive oil, salt and black pepper to a food processor or blender. Puree until smooth. Put the chicken thighs and drumsticks in a resealable bag or an airtight container. Pour the marinade over the chicken and refrigerate for at least 8 hours and up to 2 days (if the chicken is in a bag, place the bag in a baking dish before refrigerating it to avoid leaks).
- Preheat the oven to 400 degrees F.
- Arrange the chicken in a large roasting pan, skin-side up. Pour in the marinade along with the chicken.
- Bake until the skin is fully caramelized and crispy and an instant-read thermometer inserted in the thickest part of the thighs reads 170 degrees F, 45 to 55 minutes. Serve garnished with a bit of fresh cilantro.
Recipe adapted from foodnetwork.comii
Health Tip of the Week

Is Wine Really Good For You?
Alcohol: Risks vs. Benefits
The risks of drinking alcohol include impaired judgment; a higher chance of cancer, stroke, and liver disease; obesity; and more. But there are positives, too: In moderation, it can raise your HDL cholesterol (the “good” cholesterol), prevent blood clots and artery damage from LDL cholesterol, and help your blood vessels work their best.
Why Wine?
Alcohol (ethanol) alone brings benefits, but one specific perk of wine comes from antioxidants called polyphenols. They protect the lining of your blood vessels and prevent plaque buildup in your arteries.
Reach for Red
When wineries make white wine from grapes, they take off the skins before fermenting them. Red wine comes from grapes with skins still on, and that’s where most of the antioxidants live. But even though this gives red wine a slight leg up, there’s not yet enough scientific data to dub it “healthier” than white.
Wine’s Super Ingredient
One of the often-touted benefits of wine is a specific polyphenol antioxidant called resveratrol. Studies on this plant compound are ongoing, but some show it may lower blood pressure, control cholesterol levels, reduce inflammation, make you more sensitive to insulin (which helps you regulate blood sugar), and even boost your brain power.
Polyphenols Elsewhere
Although the polyphenols in wine are where a lot of its health benefits come from, downing a glass of cabernet isn’t the only way to get the goods. Tea, coffee, berries, onions, and apples all have even higher amounts than a drink with dinner.
Sulfite Side Effects
The yeast fermenting process of wine creates sulfites (sulfur dioxide); all wines have them. Many wineries add extra sulfites to increase shelf life. Sulfites can make asthma symptoms worse and, in some people, cause flushed skin, stomach pain, and diarrhea.
What About Tannins?
Tannins are another polyphenol you find in wine, but they have a slightly different effect than resveratrol. Some studies show they work as an antioxidant and anti-inflammatory, but they can mess with your digestion. And in high levels, they can make it hard for your body to absorb iron.
Germ-Fighting in Your Gut
When compared to other types of alcohol, red wine has more antibacterial activity against gut bacteria like H. pylori. Polyphenols called flavonoids are the reason – and they may lower your risk of stomach cancer.
Serving Size Matters
The American Heart Association says one to two drinks a day for men and up to one drink a day for women can lower risks to your heart and blood vessels. In the U.S., a drink usually means 12 ounces of beer, 5 ounces of wine, or 1½ ounces of hard liquor. More than that, and you’re entering the zone where the risks outweigh the benefits.
Takeaway
While some things about alcohol can help lower heart disease, doctors don’t recommend you start drinking if you don’t already. If you do drink, keep it in the moderate range so you reap the best of its health benefits.
Tip adapted from webmd.comiii
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Disclosure:
Ballentine Capital Advisors is a registered investment advisor. The advisory services of Ballentine Capital Advisors are not made available in any jurisdiction in which Ballentine Capital Advisors is not registered or is otherwise exempt from registration.
Please review Ballentine Capital Advisors Disclosure Brochure for a complete explanation of fees. Investing involves risks. Investments are not guaranteed and may lose value.
This material is prepared by Ballentine Capital Advisors for informational purposes only. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation or any particular security, strategy, or investment product.
No representation is being made that any account will or is likely to achieve future profits or losses similar to those shown. You should not assume that investment decisions we make in the future will be profitable or equal the investment performance of the past. Past performance does not indicate future results.
Advisory services through Ballentine Capital Advisors, Inc.
i https://www.golfdigest.com/story/hot-list-questions-you-should-be-asking-before-buying-new-clubs
ii https://www.foodnetwork.com/fnk/recipes/whiskey-orange-chipotle-chicken-thighs-and-drumsticks-8064636
iii https://www.webmd.com/diet/ss/slideshow-health-benefits-of-wine