The Irrelevant Investor
APRIL 8, 2023
My colleague Nick in Louisiana wrote something excellent that I wanted to share with you. Hope everyone is enjoying their weekend. “Do you know the difference between me and you? Me: Happy, happy, happy, dead. You: Worry, worry, worry, dead.” – Catch-22. The last few years reminded us that it’s more important to know how it feels to lose money than to make it.
Meb Faber Research
APRIL 1, 2023
Stocks for the Long Run is one of my favorite books. If you were to ask me what the single most universally held belief in all of investing is, I’d say it is that “stocks are the best way to build wealth” I don’t disagree. After all the largest fund I manage is a long […] The post What If You Owned No US Stocks? appeared first on Meb Faber Research - Stock Market and Investing Blog.
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A Wealth of Common Sense
APRIL 23, 2023
Last year the Nasdaq Composite was down more than 32%. This year the Nasdaq is up nearly 16%. Last year the S&P 500 was down 18%. This year the S&P 500 is up more than 8%. Last year the Nasdaq experienced 46 down days of 2% or worse, including 18 trading days of down 3% or worse. There were also 40 days with positive returns of 2% or better, including 16 daily gains of 3% or more.
Calculated Risk
APRIL 25, 2023
The Census Bureau reports New Home Sales in March were at a seasonally adjusted annual rate (SAAR) of 683 thousand. The previous three months were revised down slightly, combined. Sales of new single‐family houses in March 2023 were at a seasonally adjusted annual rate of 683,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
Speaker: Erroll Amacker
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
The Big Picture
APRIL 12, 2023
U.S. Bureau of Labor Statistics: The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in March on a seasonally-adjusted basis, after increasing 0.4 percent in February. Over the last 12 months, the all items index increased 5.0 percent before seasonal adjustment. ( April 2023 ) As much as I want to jump up and down about 0.1% seasonally adjusted (after a 0.4% prior month), the big number is not so big: 5.0% A 5 handle is a huge development, even with the core remaining sligh
The Reformed Broker
APRIL 5, 2023
I get a lot of emails and LinkedIn messages about our “funnel” these days. Hiring funnel, sales funnel, etc. Usually it’s coming from well-meaning companies who are focused on recruiting and headhunting or lead generation and prospecting. A typical firm in our industry is probably in need of what they’re offering. I have tried to build an atypical firm.
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Abnormal Returns
APRIL 23, 2023
Also on the site Ramit Sethi teaches you how to spend money. (abnormalreturns.com) Just in time for tax day, a custom indexing linkfest! (abnormalreturns.com) Top clicks this week Why Warren Buffett is looking overseas for investments. (wealthmanagement.com) Short duration assets, like CDs, look good right now, but they do have risks. (awealthofcommonsense.com) International stocks are leading markets higher.
Nerd's Eye View
APRIL 26, 2023
One of the most intimidating aspects of launching a solo advisory firm is the question of how to manage compliance. Advisors coming from a background of working as an employee at a larger firm may be familiar with some of the rules for complying with state or Federal securities regulations from the perspective of an individual advisor, but handling compliance for an entire firm – even when there is just 1 employee – entails a whole additional set of responsibilities to be aware of.
Calculated Risk
APRIL 13, 2023
Nine years ago, I wrote: Census Bureau: Largest 5-year Population Cohort is now the "20 to 24" Age Group. Earliler the Census Bureau released the population estimates for July 2022 by age, and I've updated the table from the previous post. The table below shows the top 10 cohorts by size for 2010, 2022 (released recently), and the most recent Census Bureau projections for 2030.
The Big Picture
APRIL 19, 2023
Check out these recent headlines about the classic 60/40 investment strategy 1 : The 60-40 Investment Strategy Is Back After Tanking Last Year BlackRock Ditches 60/40 Portfolio in New Regime of High Inflation Why a 60/40 Portfolio Is No Longer Good Enough The 60-40 portfolio is back Sorry, but all of these headlines utterly miss the point. No, the 60/40 mix of stocks and bonds is not dead; No, this is not the first time we had a regime of high inflation, transitory or otherwise.
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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
The Reformed Broker
APRIL 1, 2023
The prompt: The output, copy-pasted into my blog’s CMS: This is a rainbow stripe! Obviously anyone who knows how to code could have knocked this out in a second without even having to think about it. But how many people don’t know how to code? Most? We’re heading into a future in which not knowing how to do a thing is going to matter much less than ever before.
Wealth Management
APRIL 27, 2023
Getting advisors on board with building a social media presence will help leverage authenticity, grow thought leadership, ensure compliance and get to know clients on a new level.
Abnormal Returns
APRIL 24, 2023
Markets There is now a one-day version of the VIX. (finance.yahoo.com) European stocks are trading at a discount to the U.S. (mailchi.mp) Some hard-core crypto types have turned to precious metals. (wsj.com) Why are investors so nervous? (allstarcharts.com) Strategy What happens after a big down year in the stock market? (awealthofcommonsense.com) Just knowing that stocks go through cycles matters.
Nerd's Eye View
APRIL 26, 2023
One of the most intimidating aspects of launching a solo advisory firm is the question of how to manage compliance. Advisors coming from a background of working as an employee at a larger firm may be familiar with some of the rules for complying with state or Federal securities regulations from the perspective of an individual advisor, but handling compliance for an entire firm – even when there is just 1 employee – entails a whole additional set of responsibilities to be aware of.
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Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
Calculated Risk
APRIL 6, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Sabrina Speianu: Weekly Housing Trends View — Data Week Ending Apr 1, 2023 • Active inventory growth continued to climb, but at a lower rate, with for-sale homes up 53% above one year ago. The inventory of for-sale homes rose compared to last year, but at a slower pace than the previous week for a third time in a row as a smaller number of hopeful homebuyers still outnumber new se
The Big Picture
APRIL 21, 2023
My fishing pal Sam Rines has spent much of this year pushing a thesis of “ Price over Volume” ; I found it a compelling narrative, one that fits in nicely with an apsect of inflation that I had originally underestimated: “Greedflation.” The Price over Volume thesis is both compelling and underappreciated. I hope you find his take thought provoking… -Barry Price over Volume remains a key theme this earnings season with PG’s earnings report the tip of the iceberg.
The Reformed Broker
APRIL 15, 2023
I spent the week in Paris with the family and it was really an amazing trip. As you guys know I’m big on history and art and food and stuff so I had been looking forward to it for a long time. And the city did not disappoint. Other than the lack of ice cubes Some shots: The Hall of Mirrors at Versailles, which played host to some amazing moments in the history of the world.
Wealth Management
APRIL 23, 2023
Low leverage and all-cash buyers continue to drive activity in the net lease space. But investors are tightening acquisition criteria to account for higher risk.
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
Abnormal Returns
APRIL 30, 2023
Markets How today's market leaders differ from past generations. (tker.co) Updated performance figures for S&P Dow Jones Indices for April 2023. (on.spdji.com) Strategy Why copying great investors, like Buffett and Munger, usually doesn't work. (whatsimportant.substack.com) Some all-time great quotes from the Berkshire Hathaway ($BRK.A) annual meeting.
Nerd's Eye View
APRIL 25, 2023
Welcome back to the 330th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Ari Weisbard. Ari is Managing Partner of Values Added Financial, an independent RIA based in Washington, D.C., that oversees $143 million in assets under management (AUM) for nearly 75 client households. What's unique about Ari, though, is how he and his partner, Zach, not only initiated fee minimums to ensure that they could profitably serve their clients, but subsequently have intentiona
Calculated Risk
APRIL 20, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from chief economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Apr 15, 2023 • Active inventory growth continued to climb, with for-sale homes up 49% above one year ago. The number of homeowners shifting home listing timelines around spring holidays helped push active inventory growth up this week.
The Big Picture
APRIL 17, 2023
I mentioned a few weeks ago how much better Europe ‘s return to office rate was doing versus ours : 90+% RTO, while the USA is ~60%. I cannot speak to Europe, but that U.S. number is an average across all regions, industries, age groups, etc. In some parts of the country, it is appreciably higher or lower; as you might imagine, it varies greatly.
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.
The Reformed Broker
APRIL 10, 2023
A must-attend event for every RIA owner and practitioner, featuring Michael Kitces, Josh Brown, and Penny Phillips. Register here to secure your spot Michael Kitces is known as every financial advisor’s favorite financial advisor, with Kitces.com serving nearly 3,000 members and his Nerd’s Eye View blog reaching more than 200,000 unique visitors monthly.
Wealth Management
APRIL 6, 2023
Thought the future would be hoverboards and flying cars? Maybe, but first it’s a chatbot.
Abnormal Returns
APRIL 25, 2023
Markets Apple ($AAPL) and Microsoft ($MSFT) now make up some 13.4% of the S&P 500. (ft.com) Financial influencers are not the problem. You are. (safalniveshak.com) Crypto Just how real is the Bitcoin rally? (institutionalinvestor.com) Coinbase ($COIN) has sued the SEC seeking regulatory clarity. (blockworks.co) John Oliver looks at the demise of Terra/Luna, Celsius and FTX.
Nerd's Eye View
APRIL 24, 2023
Financial advisors will sometimes talk about ‘bad’ clients who don’t act on the advice being provided. But the reality is that they may not necessarily be ‘bad’ clients; rather, their behaviors are a sign that they are not fully engaged in the planning process because other aspects of their life take precedence over managing the tasks needed to accomplish their financial planning goals, they lack the knowledge to make an informed decision, or they are procrastinatin
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.
Calculated Risk
APRIL 17, 2023
Altos reports that active single-family inventory was down 1.3% week-over-week. Inventory still hasn't bottomed seasonally. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of April 14th, inventory was at 405 thousand (7-day average), compared to 411 thousand the prior week. Year-to-date, inventory is down 17.4%.
The Big Picture
APRIL 10, 2023
Nonfarm payrolls came out Friday, and once again they impressed with their underlying strength: 236,000 new workers were added in March, with February NFP revised upward to 326,000, as the unemployment rate fell to 3.5%. But there remains nearly two job opening for each unemployed worker, and despite rising wages, lots of decent positions remain unfilled.
The Reformed Broker
APRIL 1, 2023
And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. . The post This Week on TRB appeared first on The Reformed Broker.
Wealth Management
APRIL 10, 2023
Real estate ETFs are down more than 25% from their peaks. Is now the time to buy or is there more pain ahead for the sector?
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.
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