The Big Picture
JANUARY 10, 2024
At The Money: David Dunning professor of psychology at the University of Michigan ( Go Blue! ) (January 10, 2024) Investor incompetence might play a larger role in poor performance than you think. That’s thanks to a phenomenon called the Dunning-Kruger Effect. Full transcript below. ~~~ About this week’s guest: David Dunning is a professor of psychology at the University of Michigan.
Abnormal Returns
JANUARY 10, 2024
Podcasts Barry Ritholtz talks with Michael Mauboussin about why it is so hard to buck the crowd. (ritholtz.com) Claer Barrett talks with Morgan Housel about his book "Same As Ever." (ft.com) Jim O'Shaughnessy talks with Jared Dillian about his new book "No Worries: How To Live a Stress-free Financial Life." (infiniteloopspodcast.com) Khe Hy talks with Manisha Thakor about separating your self-worth from your net-worth.
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Nerd's Eye View
JANUARY 10, 2024
In initial discovery meetings, financial advisors face the challenge of eliciting specific goals from new clients – a crucial step for crafting a comprehensive financial plan. Asking direct queries may elicit vague responses like "I want to be on track for retirement", which tends to lack the detail needed to plan effectively and spark the client's motivation to actually accomplish those goals.
Abnormal Returns
JANUARY 10, 2024
Markets Anything can happen in the stock market over the short run. (awealthofcommonsense.com) The 60/40 portfolio had a big comeback in 2023. (morningstar.com) Bond investor sentiment has turned. (entrylevel.topdowncharts.com) Strategy 12 lessons the markets taught investors in 2023 including 'Valuations cannot be used to time markets.' (morningstar.com) 10 ideas from 2023 that stuck including 'Keep it simple in investing when everyone knows everything.
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.
Wealth Management
JANUARY 10, 2024
The decision comes a day after the commission’s X handle was hacked, with someone falsely posting the SEC had decided to approve the funds.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
JANUARY 10, 2024
Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2024. Some of these questions concern real estate (inventory, house prices, housing starts, new home sales), and I’ll post thoughts on those in the newsletter (others like GDP and employment will be on this blog). I'm adding some thoughts, and maybe some predictions for each question. 2) Employment: Through November 2023, the economy added 2.6 million jobs in 2023.
Wealth Management
JANUARY 10, 2024
What advisors can learn from hot water heaters.
Advisor Perspectives
JANUARY 10, 2024
Rates are heading down, volatility will increase and there is a 75% chance of a recession in 2024, according to Jeffrey Gundlach.
Wealth Management
JANUARY 10, 2024
Sold as a tax play, it’s more about the policy and the agent.
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.
Random Roger's Retirement Planning
JANUARY 10, 2024
Every now and then we talk about expat living as part of a retirement plan, usually the context is an underfunded retirement plan. There are many countries where the cost of living ranges from somewhat less expensive than the US to dramatically cheaper. One popular country in expat living circles is Ecuador. We've talked about here as well. It seems like Cuenca is one of the more popular destinations in Ecuador.
Wealth Management
JANUARY 10, 2024
IRS changes its position in CCA 202352018.
Advisor Perspectives
JANUARY 10, 2024
Blackstone Inc.’s private equity fund for wealthy individuals is a harbinger of two trends that many expect will transform investment management in the next decade.
Wealth Management
JANUARY 10, 2024
Greg Wilson, currently the head of Workplace Advisory Solutions for Goldman Sachs Ayco, will serve as head of retirement within Goldman Sachs’ Asset & Wealth Management division.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Calculated Risk
JANUARY 10, 2024
Earlier I posted some questions on my blog for this year: Ten Economic Questions for 2024. Some of those questions concerned real estate (inventory, house prices, housing starts, new home sales), and I posted thoughts on those in the newsletter (others like GDP and employment are on this blog). I've added some thoughts and made some predictions for each question. 1) Economic growth: Economic growth was probably close to 2.6% in 2023.
Wealth Management
JANUARY 10, 2024
To what extent can a trustee allow for beneficiaries’ wishes and still retain settlor intent?
Calculated Risk
JANUARY 10, 2024
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday: • At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 215 thousand, up from 202 thousand. • Also at 8:30 AM, The Consumer Price Index for December from the BLS. The consensus is for 0.2% increase in CPI, and a 0.3% increase in core CPI.
Wealth Management
JANUARY 10, 2024
AdvisorShares' Noah Hamman provides a wealth of insight into the growing popularity of active ETFs.
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
Calculated Risk
JANUARY 10, 2024
From Dodge Data Analytics: Dodge Momentum Index Improves 3% in December The Dodge Momentum Index (DMI), issued by Dodge Construction Network (DCN), rose 3% in December to 186.6 (2000=100) from the revised November reading of 181.5. Over the month, commercial planning grew 1.0% and institutional planning improved 6.1%. “ The Momentum Index ended the year 11% below the November 2022 peak , ultimately stabilizing as the year progressed.
Wealth Management
JANUARY 10, 2024
New (as well as old) issues arising after death.
Advisor Perspectives
JANUARY 10, 2024
The turmoil in the bond market over the past three years has been dramatic. The yield on the benchmark 10-year Treasury has risen approximately 360 basis points since the beginning of 2021, and it nearly hit 5% in late October. That has caused investors to question the value and role of a fixed-income allocation within portfolios. But two nagging uncertainties – the Fed and inflation – should be less of a problem as we enter 2024.
Wealth Management
JANUARY 10, 2024
Ending last year on a high note, the self-styled ‘home for hybrids’ reached $9.5 billion in assets and launched an acquisition-focused OSJ model.
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Advisor Perspectives
JANUARY 10, 2024
Today's popular narrative is a growing consensus for the Fed to engineer a soft landing and a “Goldilocks” economy.
Calculated Risk
JANUARY 10, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-January 2024 A brief excerpt: This 2-part overview for mid-January provides a snapshot of the current housing market. This includes sales, house prices, inventory, mortgage rates, rents and more. I always like to start with inventory, since inventory usually tells the tale !
Advisor Perspectives
JANUARY 10, 2024
In the quest for happiness for ourselves and our clients, we pursue self-improvement, personal achievements, and the accumulation of material possessions. But what if this emphasis impairs our ability to find it?
Calculated Risk
JANUARY 10, 2024
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 9.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 5, 2024. The results include an adjustment to account for the New Year’s holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 9.9 percent on a seasonally adjusted basis from one week earlier.
Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global
In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!
Advisor Perspectives
JANUARY 10, 2024
In this piece we compare two ways to take advantage of the USD’s richness versus emerging market currencies: EM equities and EM local currency debt. We believe that for relative value, diversification, and potential alpha reasons, EM local currency debt deserves a prominent place in portfolios today.
Trade Brains
JANUARY 10, 2024
Barbeque Nation : The share of the most prominent casual dining restaurant, Barbeque-Nation Hospitality Limited, has lost 31.5% over the last year. The company got listed amidst COVID around 2021, and it has not been an easy sail for the last two years. But the interesting thing is that the institutional investors have raised their stake in this company from 34% in March 2022 to around 50% in June 2022.
Advisor Perspectives
JANUARY 10, 2024
What if I like running my practice the way we are right now?
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