Iron Capital

05/15/2026

New episode from our Chuck & Michael Talk Investing podcast: "You've Been Lied To About Target Date Funds" - Episode 26

Chuck and Michael welcome special guest Andrew Jacobs van Merlen, CFA, Portfolio Manager for T. Rowe Price Target Date Strategies, for a conversation about the evolution of the $5.2 trillion target date retirement fund industry. They discuss how T. Rowe's target date retirement funds have evolved from a simple product into a sophisticated team now allocating $585 billion in assets. It's a common misconception that these funds are basic, when in reality they are far more sophisticated than anything anyone can do on their own. Let's explore the hidden sophistication in your retirement plan's "simplest" option.

Let's explore the hidden sophistication in your retirement plan's "simplest" option. Chuck and Michael welcome special guest Andrew Jacobs van Merlen, Portfolio Manager for T. Rowe Price Target Date Strategies, for a conversation about the evolution of the $5.2 trillion target date retirement fund i...

05/12/2026

"Passive or active? That is the question investors often ask. What they mean is, should I invest in a fund that is “actively” managed or should I invest in a “passive” fund that simply mirrors a market index? There are good arguments for both approaches, but more importantly, is that even the right question?"

Read or download the full article from our spring issue of The Quarterly Report newsletter, "Intentional"

Passive or active? That is the question investors often ask. What they mean is, should I invest in a fund that is “actively” managed or should I invest in a “passive” fund that simply mirrors a market index? There are good arguments for both approaches, but more importantly, is that even the...

04/23/2026

New on our Perspective blog this week: I Was on PTO on Doomsday

“Why The Global Economy Will Begin To Collapse In Eight Days” – This headline greeted me in my Substack feed upon my return from a family vacation. Unfortunately, by the time I saw the article it had been 14 days since it was published. I was too late. After 30-plus years of prudently investing my clients’ assets, the global economy collapsed while I was drinking mango margaritas at a pool bar in Tulum, Mexico. I simply cannot apologize enough...

Read the full post on our blog:
https://ironcapitaladvisors.com/i-was-on-pto-on-doomsday/

04/15/2026

New Insight this week: Mastering The Market

I love spring. In my home state of Georgia, there is a significant event which marks the season every year: The Masters Tournament, the annual golf tournament that transcends the game. One does not have to be a golfer or a golf fan to be a fan of the Masters; like the Super Bowl, Wimbledon, and the Kentucky Derby, it is bigger than its sport. What does Rory McIlroy's road to the win this year have to do with the market? Everything.

Read the full article on our website:
https://ironcapitaladvisors.com/insight/mastering-the-market/

I love spring. In my home state of Georgia, there is a significant event which marks the season every year: The Masters Tournament, the annual golf tournament that transcends the game. One does not have to be a golfer or a golf fan to be a fan of the Masters; like the Super Bowl, Wimbledon,...

04/02/2026

Rule one: When you realize you have made a mistake, don’t make it worse. That seems like such an easy concept, but it is so hard in real life. It is our nature to fixate on the original mistake instead of dealing with where we are now. This happens in investing all the time: An investor makes a mistake like investing at the wrong time only to see their investment lose value, and then they turn it into two mistakes by selling at the very worst time. I fear we may be in one of those situations with the war in Iran.

Read the full post on our blog: https://ironcapitaladvisors.com/turning-one-mistake-into-two/

03/24/2026

Today's Insight: "Panic and Run!"

Does anyone else know what it is like to have teenagers in your house? The only way parents survive the drama is with the knowledge that these volatile creatures were once their adorable little boys and girls, and will one day be endearing humans once again.

When I take a deep breath and remind myself that our little girl is still in there somewhere, I remember back to when my daughter’s favorite show was a Disney cartoon entitled, “The Lion Guard.” There was one episode in particular when the Lion Guard was trying to help a zebra whose herd was under attack by hyenas. The zebra’s reaction was to panic and run. I can still see my daughter dancing around the house singing, “Panic and run, panic and run!” It made for a cute children’s show, but obviously panic is not really a good investment (or life) strategy. One wouldn’t know that if he was paying close attention to the markets today.

Read the full article on our website: https://ironcapitaladvisors.com/insight/panic-and-run/

Does anyone else know what it is like to have teenagers in your house? The only way parents survive the drama is with the knowledge that these volatile creatures were once their adorable little boys and girls, and will one day be endearing humans once again. When I take a deep breath and remind myse...

03/20/2026

New post this week: Evil Closer to Home

"'I know it when I see it.' This is also many people’s definition of evil, which has been on my mind over the past few weeks. Evil comes in myriad shapes and forms. Obviously, we have the war with Iran, but this week I witnessed evil closer to home, and this we have more control over..."
Read the full post on our blog:

“I know it when I see it.” This is also many people’s definition of evil, which has been on my mind over the past few weeks. Evil comes in myriad shapes and forms. Obviously, we have the war with Iran, but this week I witnessed evil closer to home, and this we have more control over.

03/16/2026

New podcast episode out this week: Iran, AI, and the Dollar - What is Driving Emerging Markets?

Chuck and Michael host Richard Thies from Driehaus Capital Management. Together they explore the forces shaping emerging‑market (EM) performance, including Iran, the value of the dollar, and AI. Let’s explore.

Chuck and Michael host Richard Thies from Driehaus Capital Management. Together they explore the forces shaping emerging‑market (EM) performance, including Iran, the value of the dollar, and AI. Let's explore.

03/04/2026

This week's Insight: Irrational short-term trading and war in the Middle East?

“Han Solo: How we doin’?
Luke: Same as always.
Han Solo: That bad huh?”
~ “Star Wars, Return of the Jedi”

I was reminded of this fictional conversation as I drove to work this morning. We were already in one of those no-win moods on Wall Street, and now we can add unrest in the Middle East to the long list of worries...

Read the full article on our website:

“Han Solo: How we doin’? Luke: Same as always. Han Solo: That bad huh?” ~ “Star Wars, Return of the Jedi” I was reminded of this fictional conversation as I drove to work this morning. We were already in one of those no-win moods on Wall Street, and now we can add unrest in the Middle East...

02/24/2026

Our Winter '26 issue of The Quarterly Report: Who Ate The Last Cookie?

"I don’t know if this is true in your house, but in mine, few things are quite as dangerous as eating the last cookie. Not only will the guilty party be scolded over his/her offense, but he/she also will be accused of eating “all of the cookies.” This is especially true this time of the year as the Christmas aftermath is slowly but surely consumed...

"What we witness every holiday season is a perfect example of the economic law of supply and demand. When cookies are in overabundance they have little value, but as the supply shrinks, the value of each cookie grows until we are down to only one."

Read the full article on our website:

I don’t know if this is true in your house, but in mine, few things are quite as dangerous as eating the last cookie. Not only will the guilty party be scolded over his/her offense, but he/she also will be accused of eating “all of the cookies.” This is especially true this time of the...