Abnormal Returns
DECEMBER 5, 2023
Active management Active investing has a tax problem. (alphaarchitect.com) Why the active management space may be bigger than currently measured. (papers.ssrn.com) Replication Managed futures strategies are ripe for replication. (caia.org) How to replicate fund performance using index and smart beta funds. (insights.finominal.com) Factors What happened to the momentum effect?
Nerd's Eye View
DECEMBER 5, 2023
Welcome back to the 362nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jeff Brown. Jeff is the President of Stratos Private Wealth, an RIA based in San Diego, California, that oversees almost $1.5 billion in assets under management for just over 350 client households. What's unique about Jeff, though, is how his firm has developed associate advisor compensation plans and career tracks, with well-defined Level 1, Level 2, and Level 3 performance indicators of
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Abnormal Returns
DECEMBER 5, 2023
Markets The premium for green energy stocks has evaporated. (wsj.com) The reversal in lithium prices is impressive. (ft.com) Lumber prices are flatish year-over-year. (calculatedriskblog.com) The market is pricing in the chance of multiple Fed rates cuts in 2024. (ft.com) Strategy The Fed matters for markets less than you think. (awealthofcommonsense.com) It's hard to build long term wealth with T-bills.
The Big Picture
DECEMBER 5, 2023
The transcript from this week’s, MiB: Michael Fisch, American Securities , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ 00:00:00 [Speaker Changed] This is Masters in business with Barry Ritholtz on Bloomberg Radio. 00:00:07 [Barry Ritholtz] This week on the podcast, I have an extra special guest.
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A Wealth of Common Sense
DECEMBER 5, 2023
These were some of the prevailing narratives from the post-GFC world: We only had a bull market in the 2010s because of the Fed juicing the economy. The only reason tech stocks did well is because of low interest rates. The only reason stocks kept recovering from every correction so quickly is because of the Fed put. These narratives all have a kernel of truth to them.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
DECEMBER 5, 2023
From the BLS: Job Openings and Labor Turnover Summary The number of job openings decreased to 8.7 million on the last business day of October , the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations changed little at 5.9 million and 5.6 million, respectively. Within separations, quits (3.6 million) and layoffs and discharges (1.6 million) changed little. emphasis added The following graph shows job openings (black line), hires (dark blue), L
Wealth Management
DECEMBER 5, 2023
The alts-focused investment manager reorganizes to expand affiliation options and welcomes three recruits with more than $560 million in assets.
Calculated Risk
DECEMBER 5, 2023
Notes: This CoreLogic House Price Index report is for October. The recent Case-Shiller index release was for September. The CoreLogic HPI is a three-month weighted average and is not seasonally adjusted (NSA). From CoreLogic: US Home Price Growth Continues Slow But Steady Increase in October, CoreLogic Reports • U.S. single-family home prices increased by 4.7% year over year in September, the 141st straight month of annual appreciation. • CoreLogic projects that annual home price growth will rel
Wealth Management
DECEMBER 5, 2023
Commonwealth's PPS Select Compass is intended to provide advisors with more control and flexibility in portfolio construction.
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
DECEMBER 5, 2023
Today, in the Calculated Risk Real Estate Newsletter: Asking Rents Down 1.1% Year-over-year A brief excerpt: Here is a graph of the year-over-year (YoY) change for these measures since January 2015. Most of these measures are through October 2023, except CoreLogic is through September and Apartment List is through November 2023. The CoreLogic measure is up 2.6% YoY in September, down from 2.9% in August, and down from a peak of 13.9% in April 2022.
Wealth Management
DECEMBER 5, 2023
EPFR Director of Research Cameron Brandt shares a ton of knowledge on money market funds, economic data, China and top stories for 2024.
Advisor Perspectives
DECEMBER 5, 2023
Don’t waste your money on lead-generation programs, white-label content, or consultants who overpromise and fail to deliver.
Wealth Management
DECEMBER 5, 2023
MarshBerry’s Rob Madore shares strategies for growth, succession and the recent shift in how RIAs are approaching mergers and acquisitions.
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
Advisor Perspectives
DECEMBER 5, 2023
Unlike with a 401(k) plan, you can withdraw as much as you want from your 529 plan at any time. But your 529 plan withdrawal could hit you with severe tax penalties if you use it on nonqualified expenses.
Wealth Management
DECEMBER 5, 2023
The CEOs of Yieldstreet and Cadre talked to Fortune about how the acquisition came together. Private debt and equity options geared for accredited investors continue to proliferate. These are among the must reads from the real estate investment world.
Advisor Perspectives
DECEMBER 5, 2023
Trench warfare in the early 20th century has been described as long periods of boredom punctuated by moments of terror.
Wealth Management
DECEMBER 5, 2023
Reps with UBS' Athletes and Entertainers Group will provide “holistic” financial advice to prepare athletes for their post-NFL careers. Other firms with the designation include Goldman Sachs and Morgan Stanley.
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.
Trade Brains
DECEMBER 5, 2023
Top 7 Derivatives Trading Courses in 2024 : Derivatives are secondary markets where the performance of an instrument is dependent on an underlying asset or a group of assets. As you know, derivatives are advanced trading/investment instruments and they require skill and knowledge to trade in them. Hence, these courses will guide you to learn the role of futures and options in portfolio construction and spotting trading opportunities.
Wealth Management
DECEMBER 5, 2023
The new rule gives more time for companies created in 2024 to file initial beneficial ownership reports.
Clever Girl Finance
DECEMBER 5, 2023
Do you ever feel like your life isn’t quite as put together as you thought it would be? Don’t worry; you aren’t alone. And while there’s some comfort to be had in knowing that you aren’t behind your peers in getting your life together, it can still feel disheartening. Well, it’s not too late to achieve that vision you had in mind! Table of contents Getting your life together in 18 steps Expert tip: Take it one step at a time What does it mean to get your life together?
Wealth Management
DECEMBER 5, 2023
The vehicle, with a specialty in assisted living and memory care properties, aims to eventually be accessible to both accredited and non-accredited investors.
Speaker: Ashley Harlan, MBA
What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.
Advisor Perspectives
DECEMBER 5, 2023
One of the big winners from the sudden furious rally in the US bond market: Bill Gross.
Wealth Management
DECEMBER 5, 2023
Insights from Nidhi Gupta, portfolio manager at Fidelity Investments, on identifying attractively valued stocks, leveraging global research, and navigating market environments for long-term portfolio growth.
Million Dollar Round Table (MDRT)
DECEMBER 5, 2023
By Mark D. Olson, CFP, MSFS Belonging to a book club, especially an MDRT book club, is an investment in yourself. It’s a fantastic way to meet other MDRT members as you discuss your biggest takeaways from business books that can change the way you approach your life professionally — and sometimes personally. Here are a few of the books read by MDRT book clubs: “Smarter Faster Better: The Transformative Power of Real Productivity” by Charles Duhigg Drawing on the latest findings in neuroscience,
Wealth Management
DECEMBER 5, 2023
Insights from Ellen Hall the head of direct real estate at Fidelity Investments on core strategies, diversification, and identifying value in today's commercial real estate market.
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.
Advisor Perspectives
DECEMBER 5, 2023
Including one or more charitable trusts as part of a testamentary estate plan is a creative and powerful way for clients to achieve multiple goals in one estate planning vehicle.
Wealth Management
DECEMBER 5, 2023
Therese Icuss, managing director, portfolio management and underwriting, Fidelity Investments, unlocks the vast potential of the U.S. and China middle market, Fidelity's unique approach to bespoke portfolios, and prioritizing client success in the fidelity private credit fund.
MainStreet Financial Planning
DECEMBER 5, 2023
There is so much talk these days about behavior change. It applies to almost everything we encounter in life. If we want to eat healthy, exercise more regularly, be more productive at work, have better relationships or even be better with our finances, we need to work on changing our behavior to make a difference. As the new year is quickly approaching, now is a great time to get energized about change.
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