The Irrelevant Investor
AUGUST 30, 2017
From 1957-1969, Warren Buffett's partnership returned 2800%, or 29.5% a year*. Over the same time, the S&P 500 rose 153%, or 7.4% a year. Warren Buffett has been crushing the market for seven decades, but his early success went largely unnoticed. His name didn't appear anywhere noteworthy until Adam Smith's Supermoney , which wasn't written until 1972.
Brown Advisory
AUGUST 25, 2017
Manager Q&A: Mick Dillon and Bertie Thomson, Global Leaders Strategy achen Fri, 08/25/2017 - 11:34 Indeed a host of macro-economic and political events have impacted global markets since Mick Dillon and Bertie Thomson launched the Brown Advisory Global Leaders strategy. However, this duo strives to keep it simple by focusing on what they believe is the constant that cuts through macroeconomic noise: great companies producing shareholder value by delivering a special outcome to their customers.
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The Irrelevant Investor
AUGUST 28, 2017
On Thursday, I'm buying gold. This is not a typo. In the past, I've been a pretty vocal critic of the barbarous relic, but I want to clear up a few things. I am not anti-gold, I have no view on its fundamentals or what it might do in the event that the economy does X, Y, or Z. What I am vehemently against are the people who think gold is the solution for everything, particularly everything bad that can happen.
The Irrelevant Investor
AUGUST 26, 2017
Articles The city’s cost of living was by far the highest among 821 school districts in the state, but its average teacher pay ranked No. 528 By Heather Knight For funds that hold exotic assets like palladium however, quirks in the underlying market can often lead to more unpredictable patterns By Carolina Wilson and Luzi-Ann Javier After 16 years of trading, today is my last day.
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
Brown Advisory
AUGUST 25, 2017
Manager Q&A: Mick Dillon and Bertie Thomson, Global Leaders Strategy. achen. Fri, 08/25/2017 - 11:34. Indeed a host of macro-economic and political events have impacted global markets since Mick Dillon and Bertie Thomson launched the Brown Advisory Global Leaders strategy. However, this duo strives to keep it simple by focusing on what they believe is the constant that cuts through macroeconomic noise: great companies producing shareholder value by delivering a special outcome to their customers
Brown Advisory
AUGUST 24, 2017
A Solid Foundation: The Value of Private Real Estate in Balanced Portfolios. achen. Thu, 08/24/2017 - 15:12. Because of the cyclical nature of many real estate markets—and especially due to the recent painful memories of the mortgage crisis—many investors think that the only way to make money in real estate is to “catch a wave”—in other words, to invest in the right place and at the right time.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Irrelevant Investor
AUGUST 13, 2017
Articles Over-diversification can create a false sense of confidence whereby we believe we are well diversified, but in reality, a large number of investments actually share a common risk. By Corey Hoffstein An advisor who isn’t counting on some percentage of their clientele needing more than just emailed assurances probably isn’t being realistic. By Josh Brown What if that happens again?
The Irrelevant Investor
AUGUST 13, 2017
It's hard to believe that the S&P 500 has been within 5% of its all-time high for the last 284 trading days, going all the way back to June, 2016. It would surprise no one if that streak ended sooner, rather than later. On Friday, The S&P 500 closed 1.99% below its all-time high. The S&P 500 equal weight is 2.73% off its high, and the small stocks, the Russell 2000, is 5.36% off its high.
Brown Advisory
AUGUST 11, 2017
Seeing the Big Picture: Investing for Impact in Public Markets achen Fri, 08/11/2017 - 11:32 Many people and many organizations want to drive progress in society directly through their actions. One way to do that is through impact investing—a term that refers to the pursuit of positive social, environmental or other change using investment capital. There's a misconception that you can only get “real" impact from a targeted, private investment, such as a fund that lends money to small farms or a
Brown Advisory
AUGUST 11, 2017
Seeing the Big Picture: Investing for Impact in Public Markets. achen. Fri, 08/11/2017 - 11:32. Many people and many organizations want to drive progress in society directly through their actions. One way to do that is through impact investing—a term that refers to the pursuit of positive social, environmental or other change using investment capital.
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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 Irrelevant Investor
AUGUST 7, 2017
Eight days before the market bottomed in July 1932, Ben Graham wrote an article in Forbes, Should Rich But Losing Corporations Be Liquidated? In it he wrote, "More than one industrial company in three selling for less than its net current assets, with a large number quoted at less than their unencumbered cash." At a time when the CAPE ratio was just above 5, many businesses were worth more dead than alive.
The Irrelevant Investor
AUGUST 6, 2017
Articles I asked if they measured the efficacy of the analysts’ historical picks. No. I asked if they measured the accuracy of the analysts’ fundamental estimates. No. By Leigh Drogen Curiosity’s treasures are a b h to extract. By Mike Dariano You can’t see the end in advance, nor can I, nor can Druck. By Josh Brown As the return period increases, we are witnessing changes in productivity, technology, business organization, and much more.
The Irrelevant Investor
AUGUST 3, 2017
There was a lot of attention given to the first 28 days of 2016. During that period, the S&P 500 fell 10.5%, which was the worst start to a year ever. Since that time, the S&P 500 is up 35%, the Dow is up 41%, the NASDAQ 100 is up 49%, and the Russell 2000 is up 35%. If you sold in February and haven't gotten back in, now what? Investors need to stop thinking in terms of black or white, all in or all out.
The Irrelevant Investor
AUGUST 3, 2017
Twenty-five years after he retired, at eighty-one years old and just six months before he passed, Ben Graham sat down for an hour with Hartman L. Butler. The whole interview is worth reading, but I pulled three sections that particularly stood out. HB : By some coincidence as you were becoming less active as a writer, a number of professors started to work on the random walk.
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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?
The Irrelevant Investor
AUGUST 2, 2017
Our intern Tommy Tranfo wrote a great piece about his generation and investing that I thought was worth sharing. In a recent Barron's Next article, Why Won't Millennials Embrace the Stock Market , they write, “The S&P 500 has grown over 75% in the past five years, yet, according to a new survey only 13% of millennials said they’d invest in the stock market.
The Irrelevant Investor
AUGUST 31, 2017
42 years ago today, Vanguard's First Index Investment Trust was born. Bogle's goal was to launch with $150 million, but there was little appetite for "average returns" and it gathered just $11.5 million, missing its target by more than 90%. Not only did they fall short in terms of money raised, but the product itself was not exactly a home run. From The Index Fund Revolution by Charley Ellis: As a 'load' fund, with an 8.5 percent sales charge, aiming to achieve only average performance, it could
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