Vermont Financial Advisor

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Josh Kruk, Financial Advisor

josh@onedayinjuly.com | (802) 338-6326


Career Highlights and Areas of Focus

I have worked in the asset management industry for more than 25 years. Along the way, I have been responsible for well over $50 billion in client assets across roles that included portfolio management, risk management, trading and client service.

Among the benefits of that experience has been the opportunity to observe firsthand what actually produces results on a reliable basis and what doesn’t. Too often, I have watched the industry incorrectly equate complexity and high fees with quality. The end result is over-engineered investment products that end up benefiting the financial services firm more than the customer. The reason I joined One Day In July is because I believe our approach does the exact opposite, and it is the approach I’ve seen consistently work across more than a quarter century.

One of my areas of focus has been helping to build climate-aware portfolios for our clients. To support that effort, in 2020 I earned a certification in Sustainability and Climate Risk from the Global Association of Risk Professionals. I also hold a CFA charter and a CPA license.

Investment Philosophy

Legendary coach John Wooden once said, “Don’t mistake activity for achievement.” That advice applies as much to investing as to basketball. Frequent trading and market timing magnify the worst behavioral drivers we have: fear and greed. When we allow those biases to seep into our decision-making, we become more like gamblers than investors.

I also think that the Pareto principle, commonly known as the “80/20 Rule,” applies well to investing. 80% of the results are driven by getting the most important 20% of the process consistently right. That means having a clear plan, keeping costs as low as possible, reducing complexity, and maintaining discipline across market cycles.

More About Me

After growing up in New Jersey and spending time in Boston, I have now lived in Vermont for more than 20 years. I am a proud graduate of the University of Vermont and still spend many hours each winter in the bleachers at Patrick Gym and Gutterson Fieldhouse.

I currently live in Shelburne with my wife and two fantastic daughters. I’m a board member of Kayla’s Directory, Inc., a non-profit dedicated to enriching the lives of special needs children in Vermont. When not at work, my hobbies include running, collecting old sports cards, adopting old dogs, and trying different kinds of beer.


Should I Buy Bitcoin?

I’m concerned that the mass-production of digital assets will eventually have a negative “crowding out” impact on the scarcity argument for Bitcoin. It’s also possible that a better mousetrap will come along and turn Bitcoin into the “Palm Pilot” of cryptocurrencies.

How Worried Should you be About the Next Bear Market?

A market correction is defined as a decline of 10% or greater from the market's most recent high. A bear market is a more severe type of correction with a peak to trough decline of 20% or greater.

2020: A Case Study in the Futility of Market Timing

If you approach the market like it's a casino, the market will treat you like a gambler.

Mutual Funds vs ETFs

A basic goal for many investors is to gain their desired market exposure in the most efficient and cost-effective way possible.

Is your Investment Advisor Worth One Percent?

Our fees are less than half of the McKinsey average for similarly sized portfolios.

Tax Strategy: Tax Loss Harvesting

It's a fact of investing that markets sometimes go down, and occasionally by a lot. It's also generally true that not all investments will perform well at the same time.

Tax Strategy: Tax Lot Optimization

As investment accounts age and grow in size, they often contain security holdings that have been accumulated gradually over time rather than purchased all at once.

The Expected Return is Market Return

One fairly straightforward, but important, point about investing is that the combined future return for all investors who purchase securities that are part of a given index must by definition equal the future return of that index before any fees.

Behavioral Biases in Investing: Ignoring the Noise

Loss aversion demonstrated that for most people, the negative feelings generated from incurring a loss outweigh the positive feelings generated from realizing an equal-sized gain.

Josh Kruk, Financial Advisor

josh@onedayinjuly.com | (802) 338-6326


Career Highlights and Areas of Focus

I have worked in the asset management industry for more than 25 years. Along the way, I have been responsible for well over $50 billion in client assets across roles that included portfolio management, risk management, trading and client service.

Among the benefits of that experience has been the opportunity to observe firsthand what actually produces results on a reliable basis and what doesn’t. Too often, I have watched the industry incorrectly equate complexity and high fees with quality. The end result is over-engineered investment products that end up benefiting the financial services firm more than the customer. The reason I joined One Day In July is because I believe our approach does the exact opposite, and it is the approach I’ve seen consistently work across more than a quarter century.

One of my areas of focus has been helping to build climate-aware portfolios for our clients. To support that effort, in 2020 I earned a certification in Sustainability and Climate Risk from the Global Association of Risk Professionals. I also hold a CFA charter and a CPA license.

Investment Philosophy

Legendary coach John Wooden once said, “Don’t mistake activity for achievement.” That advice applies as much to investing as to basketball. Frequent trading and market timing magnify the worst behavioral drivers we have: fear and greed. When we allow those biases to seep into our decision-making, we become more like gamblers than investors.

I also think that the Pareto principle, commonly known as the “80/20 Rule”, applies well to investing. 80% of the results are driven by getting the most important 20% of the process consistently right. That means having a clear plan, keeping costs as low as possible, reducing complexity, and maintaining discipline across market cycles.

More About Me

After growing up in New Jersey and spending time in Boston, I have now lived in Vermont for more than 20 years. I am a proud graduate of the University of Vermont and still spend many hours each winter in the bleachers at Patrick Gym and Gutterson Fieldhouse.

I currently live in Shelburne with my wife and two fantastic daughters. I’m a board member of Kayla’s Directory, Inc., a non-profit dedicated to enriching the lives of special needs children in Vermont. When not at work, my hobbies include running, collecting old sports cards, adopting old dogs, and trying different kinds of beer.







Risk Management
Identify, monitor, and manage risk.
Index Funds
Broad market exposure, low expense.
Accounts We Manage
We manage a wide variety of accounts.
Our Fees
Consistently low fees.
Environmental Investing
Focused, sustainable investing options.
Environmental Articles
Sustainable, environmental insights by financial advisor Josh Kruk.
Philosophy
Prioritizing and planning for the future.
Mutual Funds vs ETFs
Clarifying the difference.
Frequently Asked Questions
Good questions, real answers.
Portfolio Construction
Construction & strategy
Timing the Market in 2020
2020 - a case study in the futility of market timing.
Active vs Passive Investing
We believe there is a winner in this debate.

Shelburne, VT Financial Advisor

Frank Koster | Josh Kruk | Keith McCarthy

5247 Shelburne Rd, Suite #101

Shelburne, VT 05482

(802) 777-9768

Darien, CT Financial Advisor

Available for meetings in Darien.

Keith McCarthy

(203) 554-9466


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