The Big Picture
JULY 17, 2023
Money makes the world go round. Global capital markets (stocks, bonds, private investments, real estate) are worth over $100 trillion. If you want to become wealthy, go where the money is. If you are smart, and understand how to play this, your odds of amassing a small fortune go up dramatically. Buy a lot of people go about it the wrong way; some never achieve their goals, others get there late in life.
Nerd's Eye View
JULY 21, 2023
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that Charles Schwab's latest annual RIA Benchmarking Study shows that while average firm assets under management fell in 2022, due largely to weak market performance, organic growth remained strong, mitigating a portion of the market effects on client portfolios.
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The Reformed Broker
JULY 21, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Sam Ro, Jack Raines, and Downtown Josh Brown discuss AI and the market, the meme economy, Nvidia’s rollercoaster year, the earnings recession, financial charlatans, Berkshire’s massive bet on Apple, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
Abnormal Returns
JULY 19, 2023
Podcasts Peter Lazaroff talks with Jill Schlesinger about her latest book "The Great Money Reset." (peterlazaroff.com) Tim Ranzetta talks with Jonathan Clements, editor of the new book "My Money Journey, How 30 People Found Financial Freedom And You Can Too." (ngpf.org) Retirement FAT Fire. How to retire at any age with confidence. (ofdollarsanddata.com) Take retirement surveys with a big grain of salt.
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 Big Picture
JULY 21, 2023
@TBPInvictus here; Let’s cut to the chase : A popular video on YouTube claims the poor are much less poor than the official statistics suggest because those statistics ignore government welfare programs like Food Stamps and Aid to Dependant Children and lots of other safety net programs. If this were true, it would mean we have been measuring income inequality incorrectly (perhaps wealth inequality as well).
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Reformed Broker
JULY 20, 2023
Ritholtz’s Josh Brown responds to the parabolic reversal of DHI post-earnings from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
Abnormal Returns
JULY 17, 2023
Podcasts Michael Kitces talks with Thor McIlrath of McIlrath & Eck about rotating client coverage. (kitces.com) Laurence Kotklikoff talks with Wade Pfau about the problem with Monte Carlo analysis. (larrykotlikoff.substack.com) Daniel Crosby talks with Nicole Casperson about what it take to build an authentic brand. (standarddeviationspod.com) Charles Schwab Charles Schwab ($SCHW) clients with $1 million in assets now are automatically enrolled in one of its private wealth management program
The Big Picture
JULY 21, 2023
My end-of-week morning train WFH reads: • Inflation undershoot? Narrative shifts again. But as impressive U.S. disinflation sweeps through 2023, without a cratering of employment or the wider economy so far, the narrative is shifting again – and encouraging hopes that bruising central bank tightening may be short-lived too. With a ‘soft landing’ now majority thinking again, phrases like ‘immaculate disinflation’ abound and raise questions about whether underlying pr
Nerd's Eye View
JULY 17, 2023
In the early days when financial advisors were first and foremost salespeople for insurance and investments products, the reality is that "advisor training and education" wasn't really about finance or advice… it was mostly just about learning how the company's products worked and how to effectively sell them to consumers. But as technology (in particular, the internet!
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.
The Reformed Broker
JULY 18, 2023
Final Trades: Quest Diagnostics, Keysight & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
Abnormal Returns
JULY 17, 2023
Markets The word of the year is 'multiple expansion.' (axios.com) The stock market is betting on a soft landing. (wsj.com) This S&P 500 stock has no analyst coverage. (bloomberg.com) Strategy How to get rich in the markets, ranked from hard to easy. (ritholtz.com) Four insights from the new edition of William Bernstein's "The Four Pillars of Investing.
The Big Picture
JULY 18, 2023
My Two-for-Tuesday train WFH reads: • Good News-Bad News About the Economy : The hard part about markets and the economy is that there are often conflicting signals about what’s going on. Even when things are good there are ominous signs about impending doom. And even when things are bad there are promising signs of impending improvement. I would describe the current situation as much better than expected considering the circumstances but there are still plenty of risks on the horizon. ( A Wealt
Nerd's Eye View
JULY 18, 2023
Welcome back to the 342nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Nancy Hetrick. Nancy is the Founder and CEO of Smarter Divorce Solutions, a consulting firm based in Phoenix, Arizona that provides financial expertise to individuals and couples (and sometimes, mediators and attorneys) going through the divorce process.
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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.
The Reformed Broker
JULY 18, 2023
Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Earnings Season – Morgan Stanley, Bank of America, Charles Schwab, JB Hunt. ►Goldilocks – A new goldilocks period for equities ►Credit Crunch – Is this the start of it?
Abnormal Returns
JULY 21, 2023
Markets The 2023 stock market has been a mirror image of 2022. (theirrelevantinvestor.com) Individual stock correlations have been falling for awhile. (allstarcharts.com) Strategy Why market timing is so seductive. (awealthofcommonsense.com) Why stock pickers can't ignore return factors. (albertbridgecapital.com) Collectibles A review of "The Worth of Art: Financial Tools for the Art Market" by Arturo Cifuentes and Ventura Charlin.
The Big Picture
JULY 20, 2023
“A new product that offers investors complete downside protection: Investors in the $7.5 trillion ETF universe can now put money behind the Innovator Equity Defined Protection ETF, which began trading under the ticker TJUL on Tuesday. The offering comes from Innovator Capital Management, which launched the first so-called buffer ETFs, also sometimes referred to as defined-outcome funds, in 2018.” – Bloomberg Let’s get this out of the way: I dislike any product that exchanges a port
Wealth Management
JULY 21, 2023
Don’t assume wealthy clients have done their planning.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
The Reformed Broker
JULY 15, 2023
This was one of those weeks where it really felt like a month. So much going on, from the inflation report rally to the start of Q2 earnings season. At Ritholtz Wealth we onboarded two new employees, an advisor in Charlotte, NC and a client service associate in Nashville, Tennessee. I’m off to the Hamptons for the weekend, but first! The best stuff we did on the site this week… And if you haven’t subscr.
Abnormal Returns
JULY 19, 2023
Markets A look at all the signs of risk-on behavior. (wsj.com) Some clues that showed the way to a better 2023 for the stock market. (carsongroup.com) Microsoft's ($MSFT) stock is at an all-time high. (cnbc.com) The VIX is at it lowest post-Covid level. (axios.com) Cash Cash often looks best, when it is the worst investment. (thisisthetop.substack.com) Reinvestment risk is real.
The Big Picture
JULY 19, 2023
My mid-week morning train WFH reads: • Is Rolex a Non-Profit? Answers to Your Burning Questions About the Rolex Watch Company. ( Teddy ) • Jerome Powell’s Prized Labor Market Is Back. Can He Keep It? The Federal Reserve chair spent the early pandemic bemoaning the loss of a strong job market. It roared back — and now its fate is in his hands. ( New York Times ) see also Powell Will Find Much to Love in Retail Sales Letdown : The latest report landed with a mixed reception.
Wealth Management
JULY 21, 2023
Success is measured by the ability to generate, evaluate, nurture and close leads. And for the most part, that means digital leads.
Speaker: Igli Laci, Strategic Finance Leader
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
A Wealth of Common Sense
JULY 21, 2023
Last year most economists assumed the Fed raising rates so aggressively meant a recession was inevitable: Now they’re backing off those predictions: So why hasn’t the economy crashed from going 0% to 5% in such short order? There are a lot of reasons. I like this one from Bob Elliott: If you think about what happened it makes sense higher yields and higher borrowing costs have offset one another.
Abnormal Returns
JULY 20, 2023
Strategy Why stock market valuations are logically higher today than they were in the past. (ofdollarsanddata.com) Why compounding is still unheralded. (blog.validea.com) Finance Blackstone ($BX) now manages more than $1 trillion in assets. (finance.yahoo.com) The airport lounge wars are heating up with JP Morgan Chase ($JPM) joining the fray. (wsj.com) The U.S. lags, badly, in real-time funds transfer.
The Big Picture
JULY 19, 2023
On today’s show I join Downtown Josh Brown to discuss my recent piece “ A Dozen Contrarian Thoughts About Inflation.” Source: YouTube Previously : A Dozen Contrarian Thoughts About Inflation (July 13, 2023) The post 12 Things Everyone Got Wrong About Inflation appeared first on The Big Picture.
Wealth Management
JULY 21, 2023
Henschen, who owned Henschen & Associates, was a pioneer and thought leader in the independent recruiting space.
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.
Advisor Perspectives
JULY 21, 2023
Last December, Florida’s legislature passed a controversial but necessary set of reforms aimed at shoring up the state’s teetering property insurance market, where a string of insurers had canceled policies and even filed for bankruptcy, leaving homeowners with dwindling options.
Abnormal Returns
JULY 16, 2023
Top clicks this week 10 surprises from 2023, so far, including higher interest rates for longer. (bilello.blog) How to build in a victory lap before retirement. (savantwealth.com) These are the least safe cars on the road. (axios.com) A look at some advanced estate planning techniques. (thomaskopelman.com) How to have a purpose as a retiree. (physicianonfire.com) There's no reason to gorge on emerging market equities.
The Big Picture
JULY 15, 2023
This week, we speak with Thomas Wagner, CIO, co-chairman and co-founder of Knighthead Capital. The deep value and special situation fund manages $10 billion in assets. He is a co-investor with Tom Brady in several sports assets, including a pickleball team, the English Football League’s Birmingham City club, and an endurance auto racing team.
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