The Irrelevant Investor

JUNE 29, 2019

Articles This postseason 84% of Curry’s free throws were swishes By Ryan Krueger An investor must experience the highs of success and lows of failure several times before they can exploit these emotions in others. By Ian Cassel Risk management means paying insurance premiums all the time, not just when you want to By Ben Calrson People get mad about payment for order flow, because nobody writes books about Interest Rate Spreads Are Just Too Darn High.

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Brown Advisory

JUNE 24, 2019

Winter Is Coming: How to Invest in Late-Cycle Credit ajackson Mon, 06/24/2019 - 09:42 Anyone who has read or watched “Game of Thrones” over the years is familiar with the phrase, “Winter Is Coming.” In the books and on the show, long cycles of warm weather are followed by lengthy winters that can last many years. No one can predict when those winters will arrive, or how long they will last.

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The Irrelevant Investor

JUNE 28, 2019

I went through Zillow's consumer housing trends report 2018 and pulled out some of the most interesting data points broken down by renters, buyers, sellers, and homeowners. Renters Seventy-eight percent of renters who move from one rental to another experience a rent increase prior to their move Forty-seven percent of renters call the suburbs home while 40 percent live in an urban area and 13 percent live in a rural area Buyers Millennials, those between the ages of 24 and 38, comprise 42 percen

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The Irrelevant Investor

JUNE 26, 2019

Today's Animal Spirits is brought to you by MarketSmith. Go to www.investors.com/animal for more information. Stories discussed: Vanguard and private equity go together like lamb and tuna fish Investors are invading the starter home market No, really. One in five starter homes Hedge funds for all What does it take for a new hedge fund to make it? The crash of 2073 It's better to peak late Facebook launched a digital currency Survey: People often cry when they sell their home Who owns everything?

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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

The Irrelevant Investor

JUNE 24, 2019

Let's say there was an asset that you thought had the potential to do really well. Not 50% better than the market, but fifty times better than the market. How would you go about putting this in your portfolio? If you think there's something out there that has unlimited upside, theoretically you would put all of your money and all of the money that you could borrow into it.

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The Irrelevant Investor

JUNE 23, 2019

Articles Stay in the game By Drew Dickson Money can buy happiness. It doesn’t cost as much as you may think By Anthony Isola Giftedness and achievements early in life do not appear to provide an insurance policy against suffering later on By Arthur C. Brooks Tulip mania was more bark than bite By Nick Maggiulli We all do better when we have something to aim at.

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The Irrelevant Investor

JUNE 22, 2019

The New York Times and the Wall Street Journal basically wrote the same story on the same day last week. Both outlets reported that there is fierce competition in the housing market, and it's not coming from buyers, but rather from investors. The chart below shows how the landscape is changing. In Memphis, for example, just 4% of single-family homes were bought by investors in 2000.

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The Irrelevant Investor

JUNE 20, 2019

Think all the way back to the end of May. The S&P 500 had just experienced a 6% monthly loss for the third time in eight months. The stock market had made zero progress since January of the previous year. It was looking like tariffs would soon be raining down on Mexico. The global economy was decelerating. With all of this going on, there was little reason to expect what was about to happen next.In the thirteen trading days since the end of May, the S&P 500 is up almost 8%, and once agai

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Brown Advisory

JUNE 19, 2019

Late-Cycle Investing: MBS Offer Attractive Income and Downside Protection. ajackson. Wed, 06/19/2019 - 09:00. With the daily stream of “7th inning” and “fourth quarter” articles about the current economic cycle, it is hard to avoid warnings in the media about the potential for a downturn and/or recession. There are some warning signs, to be sure, such as an inverted yield curve, tight labor markets, and a slowing housing market, but there are also other factors—such as modest household leverage,

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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

The Irrelevant Investor

JUNE 17, 2019

According to TechCrunch , 151 private companies around the world passed the $1 billion valuation mark in 2018. Collectively, they managed to raise a whopping $135 billion. Where do these unicorns go? Last year, 39 had initial public offerings and another 14 were acquired. All told, 144 companies have seen exits, with 68% going public and the other 32% being acquired.

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The Irrelevant Investor

JUNE 18, 2019

We get a lot of the same questions for people who are new to investing: What is the first thing a beginning investor should do? Where should I open my first investment account? How should I pick stocks or funds? What should I be reading or listening to? What should my asset allocation be? So we decided to make a video to help these noobs. If you know anybody who you think this might help, please pass it along.

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The Irrelevant Investor

JUNE 16, 2019

Mention Animal Spirits to receive 20% off (*New YCharts users only) Stories Discussed Unicorns are back, not that they ever left Mary Meeker's internet trends Ben has some (plagiarized) thoughts on the future of retirement Is the personal finance industry a scam? When is the social security IPO? A positive take on social security Lime's one year report (have not read yet) Are RVs the canary in the coal mine?

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The Irrelevant Investor

JUNE 17, 2019

Today's Animal Spirits, Talk Your Book is brought to you by MarketSmith Listen here On today's show, we talk about How to Make Money in Stocks What the best stocks in history share in common Why it's so important to have a system What are some of the most important rules in building an effective trading system And much more. Go to investors.com/anima l to learn more The post Animal Spirits Talk Your Book: Trading with MarketSmith appeared first on The Irrelevant Investor.

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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.

Accounting

The Irrelevant Investor

JUNE 15, 2019

Vanguard is out with a new monster research report called How America Saves. There are more than 100 million Americans with a defined contribution plan, holding more than $7.5 trillion in assets. Vanguard did a study at the DC plans on their platform, which has more than 5 million participants. Here are some of their key findings. One of the biggest changes in 401(k) plans over the last fifteen years has been the explosion of target-date funds.

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The Irrelevant Investor

JUNE 11, 2019

On this week's Animal Spirits we discuss: Value stocks are trading at the "steepest discount in history" Many millennials were surveyed Managing Wealth Student loan stuff. Again. Bezos delivers the internet Millennial Survey Glide path MBA programs shutting down Fake spon con Aaron Rodgers, venture capitalist Peloton is going public Chernobyl is good, but not the best show ever Somebody's got to pick up all the electric scooters Listen here Charts Tweets [link] [link] [link] [link] The post Ani

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The Irrelevant Investor

JUNE 12, 2019

What do Chad Pennington, Giovanni Carmazzi, Chris Redman, Tee Martin and Marc Bulger have in common? They're all quarterbacks, and they were all drafted before Tom Brady, who, with six Super Bowl rings, is arguably the greatest player of all-time. So how is it possible that 198 players were selected before him? Because drafting players is more art than science.

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The Irrelevant Investor

JUNE 11, 2019

Just over a month ago it began trading at $46 a share. In 26 sessions it skyrocketed 265%, compounding at more than 5% per day. It's always hard to make definitive statements about the future, but it feels safe to say that Beyond Meat has become disconnected with the underlying fundamentals. At yesterday's close, Beyond Meat sported a $10 billion market capitalization on $88 million in trailing 12-month revenue.

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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.

Banking

The Irrelevant Investor

JUNE 9, 2019

Today's Animal Spirits Talk Your Book is presented by Fundamental Income. For more information, check out their website here We talk about What are Net Lease REITs? How big is the asset class? What drives returns? The benefits of long-term leasing How contracts are structured Listen here Below are some of the numbers mentioned on the show. The post Talk Your Book: The Net Lease REIT appeared first on The Irrelevant Investor.

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The Irrelevant Investor

JUNE 9, 2019

I have to issue a retraction related to the tweet below. [link] I didn't see the "a year" part which changes the math dramatically. Turns out, Ron Baron is mostly right. If you were contributing $5,000 a year into an investment account with the goal of amassing $1 million, you can get there, assuming like Baron said, you have patience. This is how long you'll have to wait and how much you'll need to earn in order to get to seven figures: 2o years - 20.7%, forget about it 30 years - 10.5%, not go

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The Irrelevant Investor

JUNE 5, 2019

Mention Animal Spirits to receive 20% off (*New YCharts users only) Stories Millennial net worth (survey) I cannot even Breaking. Tariffs might affect prices Shhh. The bond market is trying to tell us something There are a lot of cell phones Kids are expensive Is the influencer bubble bursting? Listen here Recommendations Range Loonshots Michael Lewis and Malcolm Gladwell Charts (Via Jeffrey Ptak ) The post Animal Spirits: The Influencer Bubble appeared first on The Irrelevant Investor.

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The Irrelevant Investor

JUNE 5, 2019

Sunglasses I left my sunglasses in the hotel so I bought a pair on the boardwalk at Venice Beach. They were $12. They're comfortable. They look okay. And they do the job. This got me thinking- is there a bigger racket than $200 sun glasses? How many products have a higher brand name mark up? I have a pair of Maui-Jims and a pair of Ray-Bans, and once I lose them, which will probably be sometime over the summer, I'm done with spending money on sunglasses.

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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

The Irrelevant Investor

JUNE 2, 2019

On this episode of Re-Kindled, Ben and I went back in time to 1940, when Fred Schwed first published Where Are the Customers' Yachts? This book was published in 1940, 11 years and 60% below the peak in 1929. He updated it 15 years later, when the market finally made new highs. This book aged like a fine wine. I hope you enjoy our conversation. Listen here Next time we'll be talking about Superforecasting by Phil Tetlock and Dan Gardner The post Re-Kindled: Where Are the Customers’ Yachts a

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The Irrelevant Investor

JUNE 2, 2019

Articles The imitators then ruin the endeavor for everyone By Josh Brown The more specific a lesson of history is, the less relevant it becomes By Morgan Housel Some relationships in your life will be just for fun. And some will be deeper than that. Knowing what to expect from whom is what it’s all about. By Casey Mullooly People are putting less money down than they did in the past, effectively increasing the leverage on the roof over their head By Ben Carlson The more you look, the more you wi

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The Irrelevant Investor

JUNE 2, 2019

After Black Monday in 1987, Vice President George H.W. Bush said "My view is that you don't just jump out there and make a statement when there is a hurricane raging outside unless you have something intelligent to say." Times have changed. I don't know when, and the why can literally be a book, but somewhere along the way the American Investor found themselves wrapped in the warm blanket of safety.

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Brown Advisory

JUNE 30, 2019

Global Leaders Investment Letter - Q2 2019 ajackson Sun, 06/30/2019 - 09:50 Global Leaders Strategy Investment Letter - Q2 2019 The Global Leaders team are constantly striving to improve in everything they do. One method to facilitate this is their annual offsite. In this letter, the team distill some of their learnings and share some key reflections from their recent offsite.

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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

Brown Advisory

JUNE 30, 2019

Global Leaders Investment Letter - Q2 2019. ajackson. Sun, 06/30/2019 - 09:50. Global Leaders Strategy Investment Letter - Q2 2019. The Global Leaders team are constantly striving to improve in everything they do. One method to facilitate this is their annual offsite. In this letter, the team distill some of their learnings and share some key reflections from their recent offsite.

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The Irrelevant Investor

JUNE 19, 2019

Some people just are who they are and know it at a very young age. Others take longer to develop into the person they're going to become. I was in this latter group. A few weeks ago I looked at this through the lens of a question that's become very popular lately: " What do you know now that you wish you knew twenty years ago ?" I argued that what you know now wouldn't have helped your younger self because who you are today isn't who you were yesterday.

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The Irrelevant Investor

JUNE 9, 2019

Articles How much you make doesn’t determine how much you have. And how much you have doesn’t determine how much you need. By Morgan Housel The entire economy is so dynamically interrelated that tiny disturbances in one area can have an outsized impact somewhere else in a cascading economic butterfly effect By Fat Tailed and Happy It is nearly impossible to confidently assert what consensus is.

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