The Big Picture

MARCH 18, 2024

There has been a lot of chatter about magazine covers lately; I thought I might clarify some of the with this post, originally published in Bloomberg on December 27, 2017, along with commentary from Ben and Josh addressing the sdame issue. The key takeaway: The value of the signal here is just about zero. The 2017 Barron’s cover (above) showing Apple’s extravagant new headquarters and suggesting that the company’s market value would reach $1 trillion in 2018 generated some chat

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Marketing Marketing Media Investing 335

Abnormal Returns

MARCH 21, 2024

Strategy Byrne Hobart, "Decades of above-average net worth compounding are the reward for taking a big idea seriously, continuously refining it, and implementing it in the real world." (capitalgains.thediff.co) No matter the result, remember other stuff could have happened. (systematicindividualinvestor.com) Reddit The Reddit ($RDDT) IPO has priced.

Financial Advising 287

Financial Advising Commission Media Economy 287

Nerd's Eye View

MARCH 18, 2024

Soliciting prospect referrals can often be an effective way for financial advisors to grow their firms with clients who are ready to act and who will benefit from the firm since many referrals come from sources that are familiar not just with the advisor and the services they offer, but also with the prospect being referred and the needs they seek. This is particularly true when referrals come from Centers of Influence (COIs) – professionals who are trusted by their circles to influence id

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Assets Media Professional Services Financial Advisor 246

A Wealth of Common Sense

MARCH 21, 2024

A reader asks: Lots of podcasts have discussed how large cap indexes just keep going up, and maybe that’s pushing P/E ratios too high from people buying index funds (me included). At the same time, mid- and small-cap indices have not seen the same overall growth. Is there a risk that the S&P 500 gets out of hand relative to true value and then there is a fall as all exit at once?

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Marketing Marketing 129

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 Big Picture

MARCH 16, 2024

The weekend is here! Pour yourself a mug of coffee, grab a seat by the fire, and get ready for our longer-form weekend reads: • How a Physics Whiz Made a Fortune Betting on Nature’s Catastrophes : John Seo used his scientific knowledge to develop a winning formula for trading catastrophe bonds — a market that’s booming thanks to climate change and inflation. ( Bloomberg Green ) • How neuroscience can help you make tough decisions – with no regrets : Most people are too risk-averse when it

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Clients Management Numbers Assets 272

Nerd's Eye View

MARCH 22, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the SEC has recently been cracking down on firms for recordkeeping failures related to electronic communications, including their use of text messaging with prospects and clients. Which could serve as a warning to firms to heighten their supervision of their advisors' texting practices and whether they are being recorded properly (perhaps with the help of available archivi

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Financial Planner Retirement Communication Electronics 242

A Wealth of Common Sense

MARCH 17, 2024

There’s a bull market in bull market indicators flashing red right now. Barron’s had a bullish cover: The Economist too: The Nasdaq 100 is up more than 60% since the start of 2023. Nvidia is up 500% in that time. There are tens of billions of dollars flowing into the new bitcoin ETFs. Speculation in tech stocks, crypto, NFTs, options, day trading, etc. makes it feel like we picked up right where we left off.

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Marketing Marketing 126

The Big Picture

MARCH 22, 2024

This week, we speak with Liz Ann Sonders , managing director and chief investment strategist at Charles Schwab & Co , with $8.5 trillion on its platforms. She has been named best market strategist by Kiplinger Personal Finance and one of SmartMoney magazine’s Power 30. She has also been named to Barron’s 100 Most Influential Women in Finance.

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Investing Investments Economics Management 176

Abnormal Returns

MARCH 19, 2024

Behavior Another form of home bias at work. (klementoninvesting.substack.com) Is there an issue with self-reported happiness measures? (papers.ssrn.com) Factors A mechanism by which quality stocks outperform. (klementoninvesting.substack.com) On the benefits of combining fast and slow momentum models. (alphaarchitect.com) Harvesting premia requires sticky capital.

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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

Nerd's Eye View

MARCH 20, 2024

Monte Carlo simulations have become a central method of conducting financial planning analyses for clients and are a feature of most comprehensive financial planning software programs. By distilling hundreds of pieces of information into a single number that purports to show the percentage chance that a portfolio will not be depleted over the course of a client's life, advisors often place special emphasis on this data point when they present a financial plan.

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Communication Clients Risk Tolerance Financial Planning 240

Calculated Risk

MARCH 20, 2024

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 1.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 15, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.6 percent on a seasonally adjusted basis from one week earlier.

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Marketing Marketing 128

The Big Picture

MARCH 20, 2024

At the Money: Benefits of Quantitative Investing (March 20, 2024) Throughout history, investing has been a lot more “Art” than “Science.” But today, data is widely available and it’s a key tool you can use to enhance your portfolio returns. Full transcript below. ~~~ About this week’s guest: Jim O’Shaughnessy, former chairman and founder of O’Shaughnessy Asset Management (now part of Franklin Templeton) and author of the New York Times bestselling book, “What Works on Wall Stre

Investing 157

Investing Investments Portfolio Valuation 157

Abnormal Returns

MARCH 20, 2024

Podcasts Robin Powell talks with Ben Carlson about why the U.S. stock market has held up. (youtube.com) Barry Ritholtz talks with Jim O'Shaughnessy about the benefits of a quantitative investment approach. (ritholtz.com) Dan Haylett talks with Christine Benz about her new book "How to Retire: 20 Lessons For A Happy, Successful & Wealthy Retirement.

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Asset Allocation Retirement Commission Taxes 275

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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

Nerd's Eye View

MARCH 21, 2024

For many financial advicers, helping long-time clients identify and progress toward their goals eventually transitions into conversations around the best ways to enjoy the fruits of their labor once they reach them. Yet, for some clients, making the shift into retirement (or any other new stage of their lives) can often be a challenge for myriad reasons, which places the advisor in a unique position to help these clients understand the roadblocks they face and explore ways to overcome these obst

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Clients Financial Planning Financial Advice Retirement 219

Wealth Management

MARCH 20, 2024

Supporters and critics of the proposed rule are setting up discussions with the Office of Management and Budget, one of the last steps before the final rule will be revealed.

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Insurance Budgeting Retirement Management 126

Calculated Risk

MARCH 18, 2024

Altos reports that active single-family inventory was up 1.3% week-over-week. Inventory bottomed in mid-February, as opposed to mid-April in 2023, and inventory is now up 2.7% from the 2024 February bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of March 15th, inventory was at 507 thousand (7-day average), compared to 501 thousand the prior week.

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Abnormal Returns

MARCH 16, 2024

Autos Not every car (or SUV) has the same impact on cities. (reasonstobecheerful.world) 12 volt batteries are the Achilles heel of EVs. (wsj.com) High pollen levels are associated with more auto accidents. (nber.org) Some problems that Tesla ($TSLA) Cybertruck owners are having. (slate.com) Hank Green on why so many new cars look like 'wet putty.' (youtube.com) How four-light traffic signals work.

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Financial Advising Media Transportation Valuation 276

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Banking

Nerd's Eye View

MARCH 19, 2024

Welcome back to the 377th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Meredith Moore. Meredith is the Founder & CEO of Artisan Financial Strategies, a hybrid advisory firm based in Alpharetta, Georgia, that oversees $77M in assets under management for 120 client households. What's unique about Meredith, though, is how she was able to keep her firm open, navigating through and ultimately growing to more than $1M of annual revenue, despite a diagnosis in 2

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Financial Advisor Recruitment Clients Assets 186

Alpha Architect

MARCH 22, 2024

The benefits of diversification are well known. In fact, it’s been called the only free lunch in investing. Investors who seek to benefit from diversification of the sources of risk and return of their portfolios must accept that adding unique sources of risk means that their portfolio will inevitably experience what is called tracking error—a financial term used as a measure of the performance of a portfolio relative to the performance of a benchmark, such as the S&P 500.

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Portfolio Investing Investments 120

Calculated Risk

MARCH 21, 2024

The DOL reported : In the week ending March 16, the advance figure for seasonally adjusted initial claims was 210,000 , a decrease of 2,000 from the previous week's revised level. The previous week's level was revised up by 3,000 from 209,000 to 212,000. The 4-week moving average was 211,250, an increase of 2,500 from the previous week's revised average.

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Abnormal Returns

MARCH 17, 2024

Top clicks this week 40 lessons at age 40 including 'Life advice is like clothing.' (markmanson.net) Travis Kling, "The evidence for the rise of Financial Nihilism is all around us." (epsilontheory.com) The simplest explanation for the disappearance of MH370 is the most likely. (thedailybeast.com) Why this crypto rally is different. (ofdollarsanddata.com) Are the Magnificent Seven all that overvalued?

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Valuation Retail 274

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

Numbers

The Irrelevant Investor

MARCH 18, 2024

Stocks in the United States are more expensive than they used to be. Like, a lot more. You used to be able to buy a blue-chip company for fifteen times earnings. There was a time, a normal non-recessionary time, when you could buy the S&P 500 for fifteen times earnings. Prior to the dotcom bubble, there was only one instance when U.S. stocks traded at 25x times inflation-adjusted earnings over the previous decade.

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Wealth Management

MARCH 18, 2024

The commission accused Global Predictions and Delphia of “AI washing,” making misleading claims about how they each used artificial intelligence in managing investments.

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Commission Management Investing Investments 122

Calculated Risk

MARCH 21, 2024

From the NAR: Existing-Home Sales Vaulted 9.5% in February, Largest Monthly Increase in a Year Existing-home sales climbed in February, according to the National Association of REALTORS®. Among the four major U.S. regions, sales jumped in the West, South and Midwest, and were unchanged in the Northeast. Year-over-year, sales declined in all regions.

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Sales 118

Abnormal Returns

MARCH 18, 2024

IPOs Apple ($AAPL) and Google ($GOOGL) are exploring putting Google's AI on the iPhone. (spyglass.org) A closer look at Reddit's risks. (wired.com) Housing Austin's housing market is cooling off. (wsj.com) How home buying is going to change with a new commission regime. (thebasispoint.com) Economy National homebuilder confidence ticked up in March. (insights.finominal.com) Disruption of the Suez Canal is real.

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Financial Advising Commission Food Economy 274

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

A Wealth of Common Sense

MARCH 22, 2024

When my wife and I began the initial search for our first home, I was against using a realtor. We knew where we wanted to buy. We talked to the bank ahead of time so we knew our budget. We could search for homes online. We were in a good negotiating position because we didn’t have a house to sell (this was back in 2007 when it was hard to sell a house).

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Budgeting Marketing Marketing Banking 114

Wealth Management

MARCH 22, 2024

Robson doesn’t see the need to bring every service offering in-house to effectively grow an RIA catering to HNW wealth creators. The secret is paying deep attention to the clients—and their families.

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Clients 119

Calculated Risk

MARCH 19, 2024

Today, in the Calculated Risk Real Estate Newsletter: Single Family Starts Up 35% Year-over-year in February; Multi-Family Starts Down Sharply A brief excerpt: Total housing starts in February were above expectations and starts in December and January were revised up. Last month, I noted that permits held up better than starts in January, and that housing starts were impacted by the severe weather in January.

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