Plancorp’s Lazaroff On The Value Of Avoiding Investment Mistakes

Peter Lazaroff, CFA, CFP, the Chief Investment Officer of Plancorp, joined Keith Black, Managing Director of RIA Channel, to discuss the value of avoiding investment mistakes.

Plancorp was founded forty years ago as a fee-only financial planning firm.  Lazaroff is only the second Chief Investment Officer in the firm’s history, allowing for a consistent long-term investment philosophy.  The firm focuses on evidence-based investing, using data and economic logic to make investment decisions.  This investment philosophy is based on academic financial research such as modern portfolio theory and the efficient markets hypothesis.  Plancorp specifically avoids predictions and gut feelings, and Lazaroff is more concerned about implementing a bad idea than missing out on a good idea.  He channels Warren Buffett and Charlie Munger by saying that the key to long-term investment success is avoiding mistakes. 


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