The Irrelevant Investor

AUGUST 29, 2018

On this week's Animal Spirits, we discuss: Chicago, this is a bad idea. Monthly stipend of lump sum? Of course you're going to say winning the lottery improved your quality of life Crypto horror stories Wells.JP Morgan.and Boiler Rooms Free trading Trend following is having a hard time The best consumer environment ever Walmart going after Kindle Less high school students are playing football Julius Thomas quit football to pursue psychology The new way to consume sports writing The sell signal

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Advertising Assets Investing Investments 52

Brown Advisory

AUGUST 23, 2018

Diversification by Design: Why We Don’t Hug the Muni Benchmark ajackson Thu, 08/23/2018 - 08:02 The total municipal universe has over one million individual securities. Most muni indexes hold tens of thousands of bonds—the benchmark for our National Muni strategy, for example, is the Bloomberg Barclays Municipal 1-10 Year Blend Index, and it holds a constantly changing roster of more than 30,000 securities.

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The Irrelevant Investor

AUGUST 26, 2018

Articles Elliott has lost money in only two of its forty-one years of existence By Sheelah Kolhatkar Corrections and bear markets in emerging markets have outnumbered those in the U.S. by a factor of more than 2-to-1 By Ben Carlson Earnings during the past 1 year and 2 years have risen faster than the S&P index itself By Urban Carmel Just because you have never experienced something doesn’t mean it will never happen By Carolyn Gowen Writing is about more than words By Nick Maggiulli The race

Government 52

Government Taxes Investing Investments 52

The Irrelevant Investor

AUGUST 25, 2018

I saw three reports of financial abuse in the last week. One of the stories occurred at Wells Fargo, which keeps coming up with new ways of ripping off its customers. There is no way that Wells found the 14,000 least ethical financial advisors in the industry. What they found is the simple fact that humans respond to incentives. Bethany McLean and Ethan Wolff-Mann at Yahoo!

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Ethics Commission Financial Planner Financial Advisor 52

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.

Accounting

Brown Advisory

AUGUST 23, 2018

Diversification by Design: Why We Don’t Hug the Muni Benchmark. ajackson. Thu, 08/23/2018 - 08:02. The total municipal universe has over one million individual securities. Most muni indexes hold tens of thousands of bonds—the benchmark for our National Muni strategy, for example, is the Bloomberg Barclays Municipal 1-10 Year Blend Index, and it holds a constantly changing roster of more than 30,000 securities.

Portfolio 52

Portfolio Risk Tolerance Clients Investing 52

Brown Advisory

AUGUST 20, 2018

Four Companies Are Spending Hundreds of Billions Building The Cloud ajackson Mon, 08/20/2018 - 10:11 The titans of technology have continually led the news cycle in recent years, as their reach has extended—for better or worse—into every corner of our lives. The big tech companies also have been generating exceptional stock returns: Facebook, Google, Microsoft and Amazon have together driven an outsized proportion of S&P 500 ® Index returns over the past several years.

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Brown Advisory

AUGUST 20, 2018

Four Companies Are Spending Hundreds of Billions Building The Cloud. ajackson. Mon, 08/20/2018 - 10:11. The titans of technology have continually led the news cycle in recent years, as their reach has extended—for better or worse—into every corner of our lives. The big tech companies also have been generating exceptional stock returns: Facebook, Google, Microsoft and Amazon have together driven an outsized proportion of S&P 500 ® Index returns over the past several years.

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The Irrelevant Investor

AUGUST 19, 2018

Articles We all have it now By Nick Maggiulli Investing is a difficult game, to begin with, but it becomes doubly so, when it becomes personal By Aswath Damodaran Since this is an extraordinary claim, it requires extraordinary evidence By Barry Ritholtz Two camps of ardent supporters and dissenters quickly banded together By Jamie Catherwood Cheap (expensive) stocks tend to be followed by above-average (below-average) forward returns, regardless of where bond yields are By Charlie Bilello Colleg

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The Irrelevant Investor

AUGUST 15, 2018

On this week's Animal Spirits, we discuss: Why did I say "funding secured" Why do companies go private? Are buybacks starving the economy? No, but it's complicated And earning-per-share bonuses need to be adjusted for buybacks The housing crash disproportionately affected the middle class The CAPE ratio arguments are usually black or white. This one isn't. 80% chance of a market crash next year Listen here: Charts mentioned Tweets mentioned [link] [link] Recommendations Mountains Beyond Mountai

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Asset Allocation Assets Economy Investing 52

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

AUGUST 12, 2018

Articles You can’t call your doctor or advisor everyday asking questions. You need to learn how to cope on your own. By Tim Mullooly Financial planning in the absence of an investment strategy designed to implement the plan is a f ing fortune cookie. By Josh Brown You’re always trading one risk for another, not eliminating it. By Ben Carlson The conscious wrestles with questions.

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The Irrelevant Investor

AUGUST 8, 2018

On this week's Animal Spirits, we discuss MoviePass becoming profitable, despite all logic This is some press release Cutting the chord and Disney's new streaming service Busting some pension myths The pension hole is the size of Germany's economy Bankruptcy booms among older Americans Creating an ideal liquid alt 1 in 8 divorces is caused by student debt.

Economy 52

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Brown Advisory

AUGUST 8, 2018

Spin City: The New Wave of Deconglomeratization. ajackson. Wed, 08/08/2018 - 08:16. The biggest media story in the industrial space this summer has been the accelerating breakup of General Electric. For many decades, GE was the shining example for conglomerates everywhere—Jack Welch’s model of pursuing a #1 or #2 position across many industries was one of the most well-known business strategies in the world.

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Brown Advisory

AUGUST 7, 2018

Capital Conservation ajackson Tue, 08/07/2018 - 09:25 The managers of Brown Advisory’s Large-Cap Sustainable Growth strategy discuss how their sustainable investing approach has helped them preserve capital during down markets. “Sustainable investing” means different things to different people. Some sustainable investors want to make a positive impact on the world,others want to align their portfolio with a specific mission or set of values, and still others simply want to screen out businesses

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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

Brown Advisory

AUGUST 7, 2018

Capital Conservation. ajackson. Tue, 08/07/2018 - 09:25. The managers of Brown Advisory’s Large-Cap Sustainable Growth strategy discuss how their sustainable investing approach has helped them preserve capital during down markets. “Sustainable investing” means different things to different people. Some sustainable investors want to make a positive impact on the world,others want to align their portfolio with a specific mission or set of values, and still others simply want to screen out business

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Portfolio Numbers Management Investing 52

The Irrelevant Investor

AUGUST 5, 2018

Articles Mix a little data with something you want to be true and you grab it with both hands By Morgan Housel Chart goodness By Tadas Viskanta If you can’t save money, your investment returns won’t matter. By Nick Maggiuilli Mean reversion is probably one of the most misunderstood concepts in all of finance. By Ben Carlson The agony of defeat outweighs the euphoria of victory.

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The Irrelevant Investor

AUGUST 5, 2018

Does it really matter when a bull market begins? Whether you measure it from the low in 2009 or when new highs were made in 2013, isn't this just semantics? Bull markets are in the eye of the beholder, and when we mark the beginning is of little importance, unlike things like earnings and valuation and interest rates. Subjective and unimportant as it may be, I do think it can affect investor psychology, if only at the margin.

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Marketing Marketing Valuation Transportation 52

The Irrelevant Investor

AUGUST 1, 2018

On this week's Animal Spirits, Ben and I discuss Facebook's (2x) giant loss Twitter also had a rough day after earnings Being 30 What worked on Wall Street These funds don't want your money Gen X FTW We're all above average (survey) According to the U.S. Highbush Blueberry Council (survey) The race to zero State Street's SPY is seeing outflows But they have an idea So does Josh Contrarian signals Some cracks in the housing market So much Bronny I went on this crazy roller coaster Listen here

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Marketing Marketing 52

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The Irrelevant Investor

AUGUST 1, 2018

I think an NFL team can be turned around quicker than an NBA team. There is more parity in the NFL than the NBA. There are 3 or 4 NBA teams that can win the championship next year, there are a dozen NFL teams that can conceivably win the Super Bowl. You tend to see the same teams in the playoffs in the NBA year after year, this is not the case with the NFL.

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Brown Advisory

AUGUST 1, 2018

Investment Perspectives | Managing Risk ajackson Wed, 08/01/2018 - 10:37 In 1963, Bob Dylan warned us that the times, they are a-changin’—and while he wasn’t talking about capital markets, his words ring as true today for investors as they did for those growing up in the turbulent '60s. Market conditions may indeed be changing, and in ways that warrant a reassessment of portfolio positioning.

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Brown Advisory

AUGUST 1, 2018

Investment Perspectives | Managing Risk. ajackson. Wed, 08/01/2018 - 10:37. In 1963, Bob Dylan warned us that the times, they are a-changin’—and while he wasn’t talking about capital markets, his words ring as true today for investors as they did for those growing up in the turbulent '60s. Market conditions may indeed be changing, and in ways that warrant a reassessment of portfolio positioning.

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Management Investing Investments Valuation 52

The Irrelevant Investor

AUGUST 3, 2018

"Who's Warren Buffett I asked?" That's what George Goodman ("Adam Smith") said to Benjamin Graham when he was asked to work on a new edition of The Intelligent Investor. [link] George Goodman introduced Warren Buffett to the world in this video below. I searched for it without luck a few years ago when I read this book, so I was very excited when I saw Michael Mauboussin unearthed it.

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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

AUGUST 9, 2018

"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." -Winston Churchill We have always been a country of haves and have nots. In 1937 John D. Rockefeller had a net worth of $1.4 billion, or 1/65th of U.S. GNP. Today, the three wealthiest people in America, Bezos, Buffett, and Gates, have as much money as the bottom half of the country.

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Brown Advisory

AUGUST 1, 2018

2018 Berkshire Hathaway Annual Shareholder Meeting ajackson Wed, 08/01/2018 - 09:30 The Berkshire Hathaway annual meeting is an opportunity for shareholders and analysts to pose questions to Warren Buffett and Charlie Munger. They answered about 60 questions during the five-hour gathering. Thousands come to Omaha every May for the Berkshire Hathaway Annual Shareholders Meeting to hear the insights of Warren Buffett, chairman of Berkshire since 1965, and his longtime business partner Charles Mung

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Assets Investing Investments Insurance 52

Brown Advisory

AUGUST 1, 2018

2018 Berkshire Hathaway Annual Shareholder Meeting. ajackson. Wed, 08/01/2018 - 09:30. The Berkshire Hathaway annual meeting is an opportunity for shareholders and analysts to pose questions to Warren Buffett and Charlie Munger. They answered about 60 questions during the five-hour gathering. Thousands come to Omaha every May for the Berkshire Hathaway Annual Shareholders Meeting to hear the insights of Warren Buffett, chairman of Berkshire since 1965, and his longtime business partner Charles M

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Assets Investing Investments Insurance 52