The Big Picture

AUGUST 23, 2023

Most people believe that investing is the science of generating a return on capital. That is an accurate but incomplete assessment. I believe it is more useful and comprehensive to define investing as the decision-making behavior of human beings as they interact with money: What their financial desires are, the risks they embrace, how they think about wealth, and what emotional pain they willingly suffer in order to generate that return on capital.

Investing 246

Investing Investments Asset Allocation Healthcare 246

Abnormal Returns

AUGUST 31, 2023

Strategy Some neglected aspects of investing including 'The influence of luck in outcomes.' (investmenttalk.co) The story of a top investor's mistake holding a stock too long. (morningstar.com) Banks How is the integration of First Republic going for JP Morgan Chase ($JPM)? (theinformation.com) More capital would not have saved SVB. (ft.com) Finance A handful of big IPOs are queued up after Labor Day including Instacart, Arm Holdings and Klayvio.

Financial Advising 263

Financial Advising Media Economy Banking 263

The Reformed Broker

AUGUST 21, 2023

The Relative Strength Index or RSI is typically expressed as a 14-day reading to determine the degree to which a stock or an index is overbought or oversold, if at all. It was created in 1978 by J. Welles Wilder Jr. (here’s the book) who was a mechanical engineer by trade before turning his mathematical mind to stock and commodity trading, subsequently developing some of the most widely traded tools in technical ana.

Engineering 246

Engineering 246

Nerd's Eye View

AUGUST 28, 2023

The announcement of the merger between Charles Schwab and TD Ameritrade in November 2019 kicked off a marathon of preparation for advisory firms to transition their clients on the TD Ameritrade custodial platform to Schwab. And with the final conversion of clients scheduled to take place over the upcoming Labor Day weekend of 2023, the marathon is approaching its final sprint toward the finish line.

Financial Advisor 246

Financial Advisor Distribution Clients Accounting 246

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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.

Accounting

Calculated Risk

AUGUST 30, 2023

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 25, 2023. The Market Composite Index, a measure of mortgage loan application volume, increased 2.3 percent on a seasonally adjusted basis from one week earlier.

Marketing 120

Marketing Marketing 120

The Big Picture

AUGUST 31, 2023

The Fed’s favored inflation report was a 2.1% annualized (3 months through July) and 3.3% year-over-year. Here is BEA: Personal income increased $45.0 billion (0.2 percent at a monthly rate) in July, according to estimates released today by the Bureau of Economic Analysis (table 3 and table 5). Disposable personal income (DPI), personal income less personal current taxes, increased $7.3 billion (less than 0.1 percent) and personal consumption expenditures (PCE) increased $144.6 billio

Food 261

Food Taxes Economics 261

Abnormal Returns

AUGUST 29, 2023

Strategy How (and where) to hold cash in your portfolio. (morningstar.com) For alternatives, Is illiquidity a feature or a bug? (savantwealth.com) Don't underestimate how weird the world can be. (mr-stingy.com) Crypto Grayscale won a victory against the SEC raising the prospects of a spot Bitcoin ETF. (blockworks.co) The entire crypto space jumped on the news.

Financial Advising 263

Financial Advising Economy Media Economics 263

The Reformed Broker

AUGUST 5, 2023

We had a lot of fun with Joe Terranova and Mark Fisher on the show this week. Mark shared a lot of behavioral stuff about what it takes to make it as a trader. It’s not for everyone and it costs a lot to find this out. I was fascinated by the discussion and judging for the feedback we’ve gotten, a lot of our listeners were as well. You can watch the full episode here: Or find it on your favorite podcast ap.

246

246

Nerd's Eye View

AUGUST 15, 2023

Welcome back to the 346th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jim Ludwick. Jim is the founder of MainStreet Financial Planning, an hourly, fee-only financial planning firm, and also created Procrastination Junction, a coaching program for fee-only financial advisors looking to improve their sales skills.

Fee Only 245

Fee Only Clients Financial Planning Financial Advisor 245

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.

Accounting

Good Financial Cents

AUGUST 14, 2023

From its humble beginnings in 2008 to today, Bitcoin’s history has been relatively short but very eventful. The original protocol for this popular digital currency was created in 2008 by Satoshi Nakamoto , believed to be a pseudonym for an unknown developer or group of developers. Nakamoto launched the Bitcoin network just a year later and began mining the currency— an estimated 1 million bitcoins were mined in the early years.

Assets 119

Assets Investing Investments Numbers 119

Wealth Management

AUGUST 31, 2023

A policy that performs justifies the premium costs and liquidity constraints. Unfortunately, it's all too common for life insurance to use and hold value that's better deployed elsewhere.

Clients 119

Clients Insurance 119

The Big Picture

AUGUST 31, 2023

My end of August, morning train WFH reads: • Money Is Pouring Into AI. Skeptics Say It’s a ‘Grift Shift.’ The move from crypto to artificial intelligence has fueled the markets this year, but some are questioning how much of it is real. ( Institutional Investor ) • What to Do With a 45-Story Skyscraper and No Tenants : HSBC’s plan to leave its Canary Wharf tower for a smaller site shows the global challenges ahead in repurposing unwanted office space for a post-pandemic world. ( Citylab ) see al

Strategic Planning 246

Strategic Planning Economics Valuation Consulting 246

Abnormal Returns

AUGUST 30, 2023

Podcasts Peter Lazaroff talks with Tyler Olsen about strategically paying down student debt. (peterlazaroff.com) Captain FI talks financial independence with Jonathan Clements. (captainfi.com) Frazer Rice talks longevity and aging with Phil Pearlman of the Pearl Institute. (open.spotify.com) Morgan Housel on the difference between intelligence and smarts.

Financial Advising 262

Financial Advising Retirement Insurance Banking 262

Advertisement

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.

Accounting

Calculated Risk

AUGUST 31, 2023

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Hannah Jones: Weekly Housing Trends View — Data Week Ending Aug 26, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 5.9%. This past week marked the 10th consecutive decline in the number of homes actively for sale compared to the prior year, however the gap narrowed for the fourth week in a row. • New listings–a measure of sellers putting homes up for sale

Sales 117

Sales Numbers Marketing Marketing 117

Nerd's Eye View

AUGUST 23, 2023

Charitable Gift Annuities (CGAs) have long been a popular way for individuals with charitable intentions to plan their legacies. By contributing a lump sum to a charity in exchange for fixed recurring payments for life (with any leftover funds after the donor's death going to the charity), the individual can ensure that their funds are directed towards a purpose that aligns with their values, while also retaining a steady source of income for the rest of their life.

Taxes 245

Taxes Retirement Clients Estate Planning 245

A Wealth of Common Sense

AUGUST 31, 2023

Jonathan Novy, one of our advisors and insurance experts at Ritholtz Wealth, joined me this week to discuss questions about emergency funds, investing when you don’t have a 401k, annuity yields and long-term care insurance. Further Reading: Why I’m More Worried About the Bond Market Than the Stock Market 1The same is true of CDs. I looked at 5 year CD yields at Marcus today.

Insurance 111

Insurance Investing Investments Marketing 111

Advisor Perspectives

AUGUST 31, 2023

In the week ending August 26, seasonally adjusted initial jobless claims fell for a third consecutive week to 228,000. Initial claims decreased by 4,000 from the previous week's revised figure and came in below the forecast of 235,000.

111

111

Advertisement

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.

Banking

The Big Picture

AUGUST 24, 2023

How little do we know about the future? A great way to figure that out is to look to our past, to see what we previously thought about what the future will hold. To wit: 26 years ago, the image above came from the cover story of Fortune magazine: “There’s a lot of buzz in the smartphone business lately, with Apple’s (AAPL) iPhone turning the mobile world upside down and Nokia’s (NOK) upcoming phone announcement providing a new challenge.

Media 246

Media Numbers Marketing Marketing 246

Abnormal Returns

AUGUST 30, 2023

Strategy Why the low interest rate era has come to an end. (ft.com) Generating alpha is more than just stock selection. (flyoverstocks.com) Who is to blame for the behavior gap? (ritholtz.com) ETFs 2023 is on track for a record number of ETF closures. (wsj.com) The SEC's logic in the Grayscale case was flawed. (ft.com) Economy The labor market is not all that tight.

Financial Advising 258

Financial Advising Media Economy Numbers 258

Calculated Risk

AUGUST 30, 2023

Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 3.9% Below Peak; Price-to-rent index is 7.6% below recent peak Excerpt: It has been over 17 years since the bubble peak. In the June Case-Shiller house price index released yesterday, the seasonally adjusted National Index (SA), was reported as being 65% above the bubble peak in 2006.

114

114

The Irrelevant Investor

AUGUST 29, 2023

Nvidia is one of the most expensive stocks in the S&P 500. Nvidia is not the first giant tech company to trade at a rich valuation. The one that people often compare it to is Cisco, one of the darlings from the dot com era. We can’t compare things to the future, so we look to the past. Cisco sported an $8.9 billion market cap on the opening day of 1995.

Valuation 109

Valuation Marketing Marketing 109

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.

Financial Advice

Trade Brains

AUGUST 28, 2023

High Promoter Holding Stocks under Rs 50: There are various parameters such as debt level, RoE, etc. investors keep in mind while screening stocks. One such filter is ‘promoter stake’ or ‘promoter shareholding’ in the stock. A high promoter stake acts as a vote of confidence of the company owners towards the business. But with so many listed stocks, how to find out the best among them?

Banking 111

Banking Financial Services Government Manufacturing 111

David Nelson

AUGUST 31, 2023

By David Nelson, CFA Traveler’s usually follow in the footsteps of those who have successfully navigated the journey before them. Even Dorothy along with a few friends and her trusty dog Toto had the Yellow Brick Road. Investors are no different. We stick to the path as long as we can but have to be prepared to alter course when the weather turns.

Engineering 111

Engineering Economy Banking Economics 111

The Big Picture

AUGUST 25, 2023

The first post-pandemic presentation I pulled together for my pal Joe Fitzgerald (we worked together in the late 2000s) was a new deck titled: Biggest Mistakes Made by UHNW Investors. In the intervening year, I updated and refined the deck, adding more examples and specific advice. below is my discussion of what the presentation will be like at the MoneyShow in Orlando on October 30.

Wealth Management 246

Wealth Management Economics Assets Management 246

Abnormal Returns

AUGUST 23, 2023

Real estate A house is a place to live, not an investment. (bestinterest.blog) Baby Boomer wealth is concentrated in real estate which they will leave to their children. (awealthofcommonsense.com) A mortgage is only one of many costs of home ownership. (thomaskopelman.com) What it's like to return to apartment living after owning a house. (dwell.com) Another example of the challenges of rental real estate.

Estate Planning 246

Estate Planning Retirement Communication Taxes 246

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.

Financial Planning

Wealth Management

AUGUST 31, 2023

F2 Strategy's co-founder and CEO provides his take on the most important wealth management technology news of the last month.

Wealth Management 133

Wealth Management Management 133

Advisor Perspectives

AUGUST 31, 2023

Valid until the market close on September 30, 2023 The S&P 500 closed August with a monthly loss of 1.71%, after a gain of 3.22% in July. At this point, after close on the last day of the month, two of five Ivy portfolio ETFs — iShares 7-10 Year Treasury Bond ETF (IEF) and Vanguard Real Estate ETF (VNQ)— is signaling "cash", up from last month's single "cash" signal.

Portfolio 110

Portfolio Marketing Marketing 110

Trade Brains

AUGUST 30, 2023

Williams Fractal Indicator : The price movement of the security help traders to identify opportunities in future directions with the help of technical analysis tools. Trending markets are best suited to take long or short position for better profits. Among all the indicators, one of the technical indicators to use in trending markets is the Williams Fractal indicator.

Marketing 104

Marketing Marketing Banking Portfolio 104