Don Garman

Don Garman is an investment professional with more than 25 years of experience. A proven portfolio manager, Don has advised clients on a wide range of issues from legacy and estate planning services to investment analysis, portfolio selection, and liability management. Don has earned the prestigious designations of CERTIFIED FINANCIAL PLANNER™ practitioner and Certified Investment Management Analyst.
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Recent Posts

A Conversation With Mirador Capital Partners: Inspired Leadership From Kevin Comerford

Posted by Don Garman on August 1, 2015


Mirador Capital Partners recently sat down with Kevin Comerford, the CEO of Service Champions, which is the leading HVAC service company in the Tri-Valley area. In a fascinating look at what makes a successful company and personal life, we are pleased to share Kevin's insights on work, building company culture, and leading a team. We wanted to offer Kevin’s perspective because we believe it will be helpful for those just beginning a career or for those who are thinking about starting their own company. 

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Topics: Company Profiles

Has The Era Of Passive Investing Just Come To An End? (Hint: Yes, It Has.)

Posted by Don Garman on July 13, 2015

The debate between active and passive investment management has been regularly discussed in investment circles for the last two decades, and it’s a debate unlikely to go away soon.

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Topics: Active Management

Is It Wise To Have Treasury Bonds In Your Portfolio?

Posted by Don Garman on February 14, 2015

One of the conversations I keep having over and over with investors is whether they should have Treasury bonds (or Bonds of any kind) in their portfolio. 

It’s a relevant question because most portfolios have a bond component. The traditional asset allocation strategy is 60% in equities and 40% in bonds and cash. Bonds benefit a portfolio by diversifying risk and improving performance at a given level of risk. 

The concern is that with interest rates at historic lows, Treasury bonds are guaranteed to lose value when rates rise. The reason is that newly issued bonds carry a higher interest rate than existing bonds in a portfolio, even though the income stream is unchanged.

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Topics: Bonds

What Do Falling Oil Prices Mean For The Stock Market?

Posted by Don Garman on December 29, 2014

Looking Good In The New Year

Over the past few weeks, a number of people have asked me what the stunning drop in oil prices means for the stock market.

Answer: It’s unambiguously good for our portfolios and for most of America.

Falling oil prices are tantamount to a huge stimulus package for the economy – like a giant tax cut. According to James Furman, chairman of the White House Council of Economic Advisers, every $8 to $10 drop in oil prices adds one-tenth of 1% to GDP.

The drop in oil is already putting money in the pockets of millions of people in the form of lower gas prices. The average American will save more than $1,000 per year from gas prices that are now below $3 per gallon. That will give consumers more money for discretionary spending in 2015, which will be bullish for the market.

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Topics: Market Outlook

Market Volatility And The Long-Term Horizon

Posted by Don Garman on October 16, 2014


Like many of you, we are attuned to the recent stock market gyrations and the seemingly intractable problems that confront us globally.

At moments like this, it’s easy to be pessimistic, but it’s equally important not to let the pessimism consume you.

In fact, 10% corrections are routine in any market cycle. The investors who have done well over time learn to live with market uncertainty.

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Topics: Market Outlook

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