Abnormal Returns
NOVEMBER 5, 2024
ETFs Passive investing continues to take share. Where is the evidence that it is fundamentally changing the stock market? (on.ft.com) 'Peak ETF' is nowhere on the horizon, especially overseas. (klementoninvesting.substack.com) Portfolio construction How portfolio diversification works. (caia.org) How to use trading volume to optimize portfolio construction.
The Big Picture
NOVEMBER 6, 2024
ATM: Title At the Money: What Never Changes with Money (November 6, 2024) As much as our era seems to be unprecedented, Human nature is same as it ever was. Our behavior around risk and reward has been very consistent over the millennia. Full transcript coming soon. ~~~ About this week’s guest: Morgan Housel is a partner at the Collaborative Fund and author of “ The Psychology of Money: Timeless lessons on wealth, greed, and happiness.
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Abnormal Returns
OCTOBER 31, 2024
Books An excerpt from "The Price Of Power: How Mitch McConnell Mastered The Senate, Changed America, And Lost His Party" by Michael Tackett. (theatlantic.com) A Q&A with Amanda Ripley author of "High Conflict: Why We Get Trapped and How We Get Out." (davidepstein.substack.com) A Q&A with Eliza Griswold author of "Circle of Hope: A Reckoning with Love, Power, and Justice in an American Church.
Nerd's Eye View
OCTOBER 30, 2024
As fiduciaries, financial advisors are required to disclose any conflicts of interest that exist between themselves and their current and potential clients. The conflicts themselves can range from compensation models that impact how much money an advisor might earn as the result of a recommendation (such as specific product recommendations for advisors compensated on commission and 401(k) plan rollover recommendations for AUM-based advisors) to less direct conflicts such as 'soft dollar' benefit
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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.
The Big Picture
NOVEMBER 1, 2024
This week, we speak with Annie Lamont, Co-Founder and Managing Partner of Oak HC/FT. Prior to founding Oak HC/FT in 2014, Annie spent 28 years at Oak Investment Partners, where she served as a Managing Partner and led the healthcare and fintech practices. Annie has been named to Forbes’ Midas List as well as Fortune’s Top 20 Private Equity Power Players and Modern Healthcare’s 100 Most Influential People.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
A Wealth of Common Sense
NOVEMBER 3, 2024
It’s been a good year in the stock market. Through the close on Friday, the U.S. stock market is up 20% in 2024. The Russell 3000 Index is a good approximation of the total U.S. stock market. The index now has a little less than 2,700 stocks. Out of 2,670 stocks, 101 are up 100% or more this year (3.8% of the total). Thirteen stocks are up 300% or more, five are up 500% or greater and there is one stock in the one c.
Abnormal Returns
OCTOBER 30, 2024
Podcasts Peter Lazaroff talks with Sara Gelsheimer, Senior Wealth Manager at Plancorp, about the importance of both spouses being involved in their household’s financial decisions (peterlazaroff.com) Carl Richards talks with Jerry Colonna about the 'emotional landscape of money.' (50fires.com) Khe Hy talks 'career earthquakes' with Paul Millerd. (youtube.com) Christine Benz and Amy Arnott talk with Phil Moeller author of "Get What’s Yours for Medicare.
Nerd's Eye View
OCTOBER 31, 2024
For many years, the traditional career track for financial advisors has been an 'eat what you kill' model – where advisors must independently find, convert, and manage their own clients. As such, it isn't uncommon for an advisor's first few years to be characterized by long hours, high rejection rates, and low pay. For many, this can be a stressfully prolonged period that typically eases only as advisors build their client base and establish themselves in the industry.
The Big Picture
NOVEMBER 4, 2024
My back-to-work morning train WFH reads: • Meet the ‘super users’ who tap AI to get ahead at work : Workers say using AI tools like ChatGPT every day supercharges their efforts and saves them time on the job. ( Washington Post ) • Defining Bull and Bear Markets : There are some loosely accepted definitions but you have secular bull and bear markets as well as cyclical bull and bear markets.
Speaker: Igli Laci, Strategic Finance Leader
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
Wealth Management
NOVEMBER 5, 2024
BlackRock became the latest and largest asset manager to seek approval for an ETF share class on existing mutual funds. Morgan Stanley launched an investing index tied to prominent sports leagues globally. These are among the investment must reads we found this week for wealth advisors.
A Wealth of Common Sense
NOVEMBER 1, 2024
Paul Tudor Jones made some waves last week on a CNBC interview: He’s worried government spending and deficit levels are going to lead to a crisis: “The question is after this election will we have a Minsky moment here in the United States and U.S. debt markets?” Jones said, referring to shorthand for a dramatic decline in asset prices. “Will we have a Minsky moment where all of a sudden there̵.
Abnormal Returns
OCTOBER 30, 2024
Rates Why rates are bucking the Fed. (sherwood.news) What's behind weakness in the long end of the curve? (apolloacademy.com) Finance Charles Schwab ($SCHW) is expanding 24-hour trading. (barrons.com) The crypto industry is licking its chops for the prospects over the next four years. (theatlantic.com) Companies Does Arm Holdings ($ARMH) have an AI future?
Nerd's Eye View
NOVEMBER 4, 2024
Welcome to the November 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that Holistiplan has announced the rollout of a new estate plan document extraction tool to stand alongside its highly popular tax return scanning tool – which highlights how advances in AI technol
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Alpha Architect
NOVEMBER 1, 2024
The authors of the research discussed developed a machine learning model that can accurately predict trading volume for individual stocks. They then demonstrated how this model can be used to construct a portfolio that outperforms a traditional market-cap weighted portfolio. Using Trading Volume to Optimize Portfolio Construction and Implementation was originally published at Alpha Architect.
Wealth Management
NOVEMBER 5, 2024
Apollo, like its peers, continues to target high earners for higher-fee-paying assets and has set a goal of raising at least $150 billion for its global wealth business by 2029.
Nerd's Eye View
NOVEMBER 5, 2024
Welcome everyone! Welcome to the 410th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Emily Biehler. Emily is the co-founder of TrailWise Financial Partners, an RIA based in Golden, Colorado, that oversees approximately $80 million in assets under management for 200 client households. What's unique about Emily, though, is how her firm ensures every client can be served profitably through a combination of a complexity-based minimum fee arrangement, coupled with
The Big Picture
OCTOBER 30, 2024
At the Money: Getting More Out of Dividends with Shareholder Yield. Meb Faber, Cambria Investments (October 30, 2024) Dividend investing has a long and storied history, but it turns out dividends are only part of the picture driving stock returns. One alternative is shareholder yield, which includes not only dividends, but also share buybacks and debt paydowns as indicators of future gains.
Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor
During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.
Calculated Risk
NOVEMBER 4, 2024
Altos reports that active single-family inventory was unchanged week-over-week. The first graph shows the seasonal pattern for active single-family inventory since 2015. Click on graph for larger image. The red line is for 2024. The black line is for 2019. Inventory was up 29.8% compared to the same week in 2023 (last week it was up 30.8%), and down 19.4% compared to the same week in 2019 (last week it was down 20.7%).
A Wealth of Common Sense
NOVEMBER 5, 2024
As Charlie Munger liked to say, “Invert, always invert.” Here are some things about investing that I don’t believe: I don’t believe there is a sole way to invest. Everyone has a different emotional make-up and lesser version of themself. Plus, experiences and circumstances can shape your attitudes towards risk and return. There are a lot of strategies that can work.
Abnormal Returns
NOVEMBER 3, 2024
Top clicks this week Why rates are bucking the Fed. (sherwood.news) How major asset classes performed, or didn't, in October 2024. (capitalspectator.com) What's behind weakness in the long end of the curve? (apolloacademy.com) Why mortgage rates are rising. (axios.com) This device is the equivalent of an 'EV gas can.' (newatlas.com) Institutional investor ownership of single-family homes is concentrated in certain geographies.
Nerd's Eye View
NOVEMBER 1, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that SIFMA, which represents broker-dealers, investment banks, and asset managers, released a white paper that argues that CFP Board "increasingly functions as a de facto private regulator for CFP certificants" and proposes that CFP Board eliminate rules and standards that duplicate, conflict with, and/or impose in addition to existing SEC and/or FINRA rules and standards.
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
Wealth Management
NOVEMBER 4, 2024
Aspen Standard Wealth has taken a majority stake in Summitry, a $2.8 billion RIA, as it aims to hold wealth management firms permanently and solve some of their pain points.
Calculated Risk
NOVEMBER 1, 2024
From the BLS: Employment Situation Total nonfarm payroll employment was essentially unchanged in October (+12,000), and the unemployment rate was unchanged at 4.1 percent , the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in health care and government. Temporary help services lost jobs. Employment declined in manufacturing due to strike activity.
Trade Brains
NOVEMBER 4, 2024
Gold is the ultimate security measure for central banks, which can be thought of as national treasure troves. Central banks hold gold bars in reserve to withstand economic downturns, much like we save money for unexpected expenses. This shiny gold serves as a financial anchor, keeping things stable when markets tremble or currencies falter. It’s similar to having shining insurance coverage that never ends!
Abnormal Returns
NOVEMBER 4, 2024
Podcasts Meb Faber and Wes Gray talk about how ETFs unlock tax efficiency and the launch of the Cambria Tax Aware ETF ($TAX). (podcasts.apple.com) Ben Carlson and Michael Batnick talk with Nate Conrad of Stone Ridge about how LifeX ETFs operate. (awealthofcommonsense.com) Bogumil Baranowski talks the digitization of wealth management with Julia Carreon.
Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker
If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!
Carson Wealth
NOVEMBER 4, 2024
Get Ready for the Election Did you hear there’s an election tomorrow? Yes, we are finally there. As we discussed in detail last week, while of course the election matters, historically who is in the White House hasn’t mattered as much to investors as you might think. If the economy remains strong (as we expect), that would matter much more than just about anything else.
Wealth Management
NOVEMBER 5, 2024
UniFi by CAIA's Aaron Filbeck details the evolution of alternative investments and the importance of client communication.
Calculated Risk
NOVEMBER 2, 2024
The FOMC meets this week and is expected to cut rates. -- Monday, November 4th -- No major economic releases scheduled. -- Tuesday, November 5th -- All day: U.S. Election 8:30 AM: Trade Balance report for September from the Census Bureau. The consensus is for the deficit to be $73.5 billion in September, from $70.4 billion in August. This graph shows the U.S. trade deficit, with and without petroleum, through the most recent report.
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