Calculated Risk
MARCH 20, 2025
What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For February, Realtor.com reported inventory was up 27.5% YoY, but still down 22.9% compared to the 2017 to 2019 same month levels. Now - on a weekly basis - inventory is up 28.5% YoY.
The Big Picture
MARCH 18, 2025
It is March 18th! Publication day is finally here! The challenge in writing How NOT to Invest was organizing a large number of ideas, many of which were only loosely connected, into something coherent, understandable, and, most importantly, readable. It took a while of playing around with the concepts, but eventually, I hit on a structure that I found enormously useful: I organized our biggest impediments to investing success into three broad categories: Bad Ideas , Bad Numbers , and Bad Be
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Abnormal Returns
MARCH 17, 2025
Markets Corrections happen more often than you remember. (optimisticallie.com) Market moves just happen faster these days. (awealthofcommonsense.com) Books "Buffett and Munger Unscripted: Three Decades of Investment and Business Insights from the Berkshire Hathaway Shareholder Meetings" by Alex Morris is a good refresher course. (newsletter.rationalwalk.com) A review of "The Art of Uncertainty: How to Navigate Chance, Ignorance, Risk and Luck" by Davie Spiegelhalter.
Nerd's Eye View
MARCH 17, 2025
With each passing decade, not only does technology evolve at an ever more dramatic pace, but each new wave comes faster than the last. From the advent of the computer chip in the 1950s to the rise of the personal computer nearly 25 years later in the early 1980s, to the emergence of the internet just 15 years thereafter in the late 1990s, to mobile smartphones only 10 years after that in the late 2000s, to 'robos' less than a decade later in the 2010s, and most recently to AI, which 'suddenly' w
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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Wealth Management
MARCH 18, 2025
Morningstar profiled the 15 funds that have lost the most value for shareholders over the past decade. Recent market volatility has perked new interest among investors and advisors in buffer ETFs. These are among the investment must reads we found this week for wealth advisors.
Calculated Risk
MARCH 19, 2025
Fed Chair Powell press conference video here or on YouTube here , starting at 2:30 PM ET. FOMC Statement: Recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
MARCH 16, 2025
Top clicks this week Are we finally seeing an opening for international diversification? (awealthofcommonsense.com) The last ten years in the stock market visualized. (sherwood.news) It's been a awhile since the Nasdaq traded below its 200 day moving average. (bilello.blog) The stock market is a big distraction to the business of investing. (albertbridgecapital.com) Another example, why the stock market is not a level playing field.
Nerd's Eye View
MARCH 21, 2025
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a report from Cerulli Associates found that, amidst an industry-wide trend towards comprehensive financial planning and away from pure transaction-based investment management, asset-based fees currently represent 72.4% of advisor compensation, while commission-based revenues have declined to 23% of an average advisor's revenue.
Wealth Management
MARCH 17, 2025
Shana Sissel shares her insights into the groundbreaking private equity deals in NFL teams and what it all means for the private equity space and investors.
Calculated Risk
MARCH 17, 2025
On a monthly basis, retail sales increased 0.2% from January to February (seasonally adjusted), and sales were up 3.1 percent from February 2024. From the Census Bureau report : Advance estimates of U.S. retail and food services sales for February 2025, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $722.7 billion, up 0.2 percent from the previous month , and up 3.1 percent from February 2024.
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Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
The Big Picture
MARCH 21, 2025
This week, I speak with Jim O’Shaughnessy, Founder and CEO of O’Shaughnessy Ventures. Prior to founding O’Shaughnessy Ventures, Jim was the Founder and Chair of OSAM (O’Shaughnessy Asset Management) which was acquired by Franklin Templeton in 2021. He also served as Senior Managing Director and Executive Director of Systematic Equity for Bear Stearns.
Abnormal Returns
MARCH 20, 2025
Books An excerpt from "Abundance" by Ezra Klein and Derek Thompson. (theatlantic.com) An excerpt from Clay Risens new book "Red Scare: Blacklists, McCarthyism, and the Making of Modern America." (slate.com) An excerpt from John Green's new book "Everything is Tuberculosis." (theatlantic.com) An excerpt from "Me, But Better: The Science and Promise of Personality Change" by Olga Khazan.
Nerd's Eye View
MARCH 18, 2025
Welcome everyone! Welcome to the 429th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Ali Nasser. Ali is the Founder of the Wealth Integration System for Entrepreneurs, an education and coaching company based in Houston, Texas, that works with entrepreneurs facing a liquidity event and trying to figure out what's next… and financial advisors who serve them.
Wealth Management
MARCH 17, 2025
Exhibit A will feature pre-built, white-labeled decks covering market volatility, U.S. market performance, historical bull and bear markets and earnings trends.
Speaker: Sierre Lindgren
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
Calculated Risk
MARCH 18, 2025
Today, in the Calculated Risk Real Estate Newsletter: Housing Starts Increased to 1.501 million Annual Rate in February A brief excerpt: Total housing starts in February were above expectations; however, starts in December and January were revised down slightly, combined. The third graph shows the month-to-month comparison for total starts between 2024 (blue) and 2025 (red).
The Big Picture
MARCH 15, 2025
I did a fun interview with Jack Hough of Barron’s — we were scheduled to discuss How Not to Invest , and he used our convo as a leaping off point to discuss what we should be doing in 10% downturns. Jack Hough walks through ways to hedge market downside from foolish to sensible, and we talk to Barry Ritholtz about strategies from his new book, How Not To Invest.
Abnormal Returns
MARCH 17, 2025
Podcasts Diana Britton talks with Mary Saylor who is the director of wealth management at Choreo. (wealthmanagement.com) Brendan Frazier talks with Dennis Moseley-William explains how to elevate your client experience to create fans and grow your business. (podcasts.apple.com) Advisortech Trust & Will raised another round of capital. (citywire.com) FINNY uses AI to identify and message prospects.
Carson Wealth
MARCH 17, 2025
Understanding Market Corrections The S&P 500 moved into a correction on Thursday of last week, defined as a close at least 10% below the indexs recent closing high. Here are some things we know about corrections, which well look at in depth this week. Corrections are normal, the S&P 500 averaging 1.1 corrections per year since 1928. Corrections happen for a reason, and its always tempting to see that reason weighing even more on stocks.
Speaker: Aaron Berson
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
Wealth Management
MARCH 17, 2025
Aneri Jambusaria considered the other side of the advisor shortage coin, RIAs discussed growth partly due to that demand, and M&A consultants noted the importance of differentiation to keep growing at Future Proof Citywide in Miami.
Calculated Risk
MARCH 18, 2025
From the Census Bureau: Permits, Starts and Completions Housing Starts: Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,501,000. This is 11.2 percent above the revised January estimate of 1,350,000, but is 2.9 percent below the February 2024 rate of 1,546,000. Single-family housing starts in February were at a rate of 1,108,000; this is 11.4 percent above the revised January figure of 995,000.
A Wealth of Common Sense
MARCH 16, 2025
Coming into 2025 the S&P 500 had just two down years out of the past 15: 2010 +14.8% 2011 +2.1% 2012 +15.9% 2013 +32.2% 2014 +13.5% 2015 +1.4% 2016 +11.8% 2017 +21.6% 2018 -4.2% 2019 +31.2% 2020 +18.0% 2021 +28.5% 2022 -18.0% 2023 +26.1% 2024 +24.9% We were all probably a little spoiled. Regardless of the reason for the recent swoon, we were due.
Abnormal Returns
MARCH 20, 2025
Markets Markets are largely shrugging off the destruction of norms. (ft.com) S&P 500 companies returned a record amount of capital in 2024. (axios.com) The U.S. stock market is a standout in 2025, and not in a good way. (capitalspectator.com) Which sectors look cheap after this correction? (morningstar.com) Books Barry Ritholtzs "How Not to Invest" is a 'very informative book about investing that is most importantly a lot of fun.
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
Investment Writing
MARCH 18, 2025
Style guidelines for financial services firms can help you to make your written communications more consistent and thus easier to read. Why create style guidelines for your financial services firm? It can be distracting if writing styles are inconsistent within and across documents published by your firm. For example, is it “counterparty” in the first paragraph and “counter party” in paragraphs two and three?
Wealth Management
MARCH 18, 2025
Warren Bimblick, former group president at Informa and Penton, offers his remembrances of former publisher Rich Santos.
Calculated Risk
MARCH 19, 2025
Statement here. Fed Chair Powell press conference video here or on YouTube here , starting at 2:30 PM ET. Here are the projections. In December, the FOMC participants midpoint of the target level for the federal funds rate was around 3.875% at the end of 2025 (3.6%-4.1%) and the long run range was 2.8% to 3.6%. The FOMC participants midpoint of the target range is now at 4.0% at the end of 2025 (3.9%-4.4%) and the long run range is 2.6% to 3.6%.
A Wealth of Common Sense
MARCH 18, 2025
On December 17, 1954,The Chicago Tribuneran the following headline: DOCTOR WARNS OF DISASTERS IN WORLD TUESDAY The paper interviewed Dr. Charles Laughead at the home of Dorothy Martin. Dr. Laughead informed the paper that Martin received communications “from outer space.” He told reporters these communications from outer space revealed to Martin that the world would be ravaged by a great flood that.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Abnormal Returns
MARCH 18, 2025
Tune Out the Noise You can now watch the Errol Morris documentary 'Tune Out the Noise.' (youtube.com) Why DFA helped make the movie. (institutionalinvestor.com) Quant stuff Almost all quants owe a debt to the late Barr Rosenberg. (on.ft.com) Some recent academic research including 'Wikipedia Page Views and Stock Performance.' (alphainacademia.substack.com) The case against chartists.
Million Dollar Round Table (MDRT)
MARCH 18, 2025
By Anthony Castro As financial advisors, we need clients. We all face the issue of finding new clients, though, especially clients who are a good fit for us. I recently tried an idea to address this challenge that I wasnt sure would work, but I was pleasantly surprised to find that it did. For me, that idea is my sneaker raffle, which quickly opened some unexpected doors.
Wealth Management
MARCH 17, 2025
Whats next for wealth management technology in 2025? The Oasis Group's John O'Connell discusses wealthtech trends shaping the industry.
Calculated Risk
MARCH 15, 2025
The key reports this week are February Retail sales, Housing Starts and Existing Home Sales. The FOMC meets this week, and no change to policy is expected. For manufacturing, the February Industrial Production report and the March NY and Philly Fed manufacturing surveys will be released. -- Monday, March 17th -- 8:30 AM: Retail sales for February is scheduled to be released.
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