Nerd's Eye View

JUNE 26, 2023

One of the biggest challenges for small, independent RIA firms is that they are self-reliant with respect to designing, choosing, and implementing the systems, technology, and processes that they use. Some firm owners relish the responsibilities of building and maintaining a firm from the ground up, but others – who may be happier with simply advising and building relationships with clients – might find it more appealing to merge with or sell to a larger firm that has the resources t

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The Big Picture

JUNE 30, 2023

A quick note as the first half of 2023 draws to a close, shocking the locals with its intensity. Why? Because almost nobody saw this rally coming. 1 As of this moment, the indices stand appreciably higher than where they were on January 1, 2023: The NASDAQ 100 is up >38%, the S&P 500 is up ~15.5%, and the Russell 2000 small cap index is up almost 7%.

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Abnormal Returns

JUNE 25, 2023

Also on the site Why we all need regular doses of Vitamin O, i.e. optimism. (abnormalreturns.com) Top clicks this week Warren Buffett's advice on active vs. passive investing is clear. (monevator.com) Joshua Brown, "The thing that everyone’s talking about is not always the thing that ends up mattering." (thereformedbroker.com) What the CIA can teach investors.

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The Reformed Broker

JUNE 30, 2023

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Ian Cassel, and Downtown Josh Brown discuss microcap stocks, the state of the economy, how to analyze a company’s management team, how investing is like golf, Silicon Valley on drugs, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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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

Nerd's Eye View

JUNE 28, 2023

One of the key steps in the financial planning process is presenting the plan to the client, which has traditionally been done as part of a single 'plan presentation' meeting that takes place once the advisor has gathered and analyzed all of the client's data. While this approach may have made sense in a time when the 'plan' itself was mostly limited to investment recommendations (which the advisor would be able to go on and implement themselves since they were managing the client's assets), fin

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Abnormal Returns

JUNE 30, 2023

Audio YouTube will soon allow automatic dubbing. (engadget.com) How many streams it takes an artist to earn $1,000 on different platforms. (genuineimpact.substack.com) Companies Matt Reustle talks with Tom Walsh, a portfolio manager at Baillie Gifford, about ASML Holdings ($ASML). (joincolossus.com) Benjamin Gilbert and David Rosenthal talk about the history of Porsche AG with Doug DeMuro.

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The Reformed Broker

JUNE 24, 2023

And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. These are the most read posts on the site this week, in case you missed it: . The post This Week on TRB appeared first on The Reformed Broker.

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Nerd's Eye View

JUNE 30, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that NAPFA has announced that it will no longer exclude advisors who receive up to $2,500 in annual trailing commissions from previous product sales, if they agree to donate that money to a non-profit organization and are otherwise fully dedicated to fee-only principles with their clients going forward.

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The Big Picture

JUNE 26, 2023

Rising rates, falling savings, increased deficits, dubious GDP : Ever since the yield curve inverted and warnings of “imminent recession” filled the air, the Philly Fed’s map of State Coincident Indexes has provided a good real-time snapshot of the state of the economy. Friday’s release might have snuck by, but its filled with upside surprises that are worth looking at.

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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

Abnormal Returns

JUNE 29, 2023

Technology AI is making for a spate of new junk websites powered by programmatic ads. (technologyreview.com) The FTC thinks Amazon ($AMZN) customers are stupid. (stratechery.com) The many ways in which data brokers label you. (themarkup.org) The Internet is a beast that needs to be fed with content. (om.co) Water Can Utah's Great Salt Lake be saved?

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Economics 246

The Reformed Broker

JUNE 27, 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: ►Flows is Back – “ICI reported a $22B estimated net-inflow into domestic equity mutual funds plus ETFs” ►Higher or Lower? – Our viewers believe the market will go up from here.

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Nerd's Eye View

JUNE 29, 2023

For most financial advisory firm owners, ensuring that their business or practice is remunerative and that it can remain viable is often a key priority. And while there are many factors that help owners determine whether their firm is making enough money to profitably sustain itself, one common variable that can help them adjust their net revenue is the fee they charge to clients for financial planning services.

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The Big Picture

JUNE 24, 2023

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The Evolution of Financial Advice. To be a successful investor you need to possess a number of different traits. You need to understand how math, statistics and probabilities work. You need to understand how corporations and the global economy generally function over the long haul.

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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

Abnormal Returns

JUNE 28, 2023

Markets The world has passed gold by. (bloomberg.com) Natural gas prices are wicked cheap. (wsj.com) Why everyone is now betting on a spot Bitcoin ETF. (ft.com) Finance PE firms have a recruiting problem. (institutionalinvestor.com) The European market for IPOs is moribund. (ft.com) Sequoia Capital had to choose between China and the U.S. (wsj.com) Fund management Do investors know what they are getting in the popular JPMorgan Equity Premium Income ETF ($JEPI)?

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The Reformed Broker

JUNE 25, 2023

I’m all in for this. You? The post Dumb Money – Official Trailer appeared first on The Reformed Broker.

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Marketing Marketing 169

Nerd's Eye View

JUNE 27, 2023

Welcome back to the 339th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Eric Roberge. Eric is the Founder and CEO of Beyond Your Hammock, an independent RIA based in Boston, Massachusetts, that oversees $47 million in assets under management for more than 80 client households. What's unique about Eric, though, is how, 10 years after launching his firm and enjoying strong and steady growth, he hit a capacity wall as a solo advisor and suddenly found the busines

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The Big Picture

JUNE 28, 2023

All of the companies in the S&P 500 are worth $7.1 trillion in assets, accounting for close to 80% of available market capitalization on U.S. stock exchanges. Visual Capital notes: “Over the last decade, big tech names have dominated the index. The tech sector makes up over 26% , with Apple, Microsoft, and Nvidia as the top S&P 500 companies by market capitalization.

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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.

Banking

Abnormal Returns

JUNE 30, 2023

Markets Real yields are on the rise. (allstarcharts.com) T-bill yields are currently above that of AAA-rated bonds. (awealthofcommonsense.com) Strategy The stock market has had a good year, in only six months. (ritholtz.com) The feedback loop in the markets is no joke. (ritholtz.com) Companies Where Apple ($AAPL) stands as a $3 trillion company. (bigtechnology.com) How Amazon ($AMZN) is trying to cut down on customer returns.

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Financial Advising Media Economy Marketing 246

The Reformed Broker

JUNE 29, 2023

Final Trades: Home Depot, Wynn, JPMorgan & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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Calculated Risk

JUNE 27, 2023

The Census Bureau reports New Home Sales in May were at a seasonally adjusted annual rate (SAAR) of 763 thousand. The previous three months were revised down slightly, combined. Sales of new single‐family houses in May 2023 were at a seasonally adjusted annual rate of 763,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

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The Big Picture

JUNE 24, 2023

This week, we speak with Peter Borish, who is chairman and chief executive officer of Computer Trading Corporation, an investment and advisory firm. Borish was founding partner and right-hand man to Paul Tudor Jones at Tudor Investment Corporation , where he was director of research for 10 years. Borish also previously served as chief strategist for Quad Group LLC.

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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

Abnormal Returns

JUNE 26, 2023

Podcasts Ashby Daniels talks about turning vague customer desires into clear goals. (wiredplanning.com) Daniel Crosby talks with advice non-compliance with Derek Hagen who is the founder of Money Health Solutions. (standarddeviationspod.com) Michael Kitces talks about the challenges of retirement with Tony Hixon who is the Co-founder and COO for Hixon Zuercher Capital Management.

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The Reformed Broker

JUNE 27, 2023

Final Trades: Lockheed Martin, Robinhood, and more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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Calculated Risk

JUNE 30, 2023

Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through May 2023. CPI Shelter was up 8.0% year-over-year in May, down from 8.1% in April, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 8.3% YoY in May , down from 8.4% in April (April was the cycle peak).

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The Big Picture

JUNE 28, 2023

My mid-week morning train WFH reads: • The Stock Market Isn’t as Calm as It Seems : Traders are scooping up bets on volatility surging at a record clip. ( Wall Street Journal ) • Tech’s Toughest Cuts Could Draw New Talent to Asset Management : Asset managers are eyeing thousands of workers laid off by the tech industry as asset management firms build out their own capabilities. ( Chief Investment Officer ) • The Uneven Effect of Remote Work, in One List : This ranking of jobs by percentage of re

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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

Abnormal Returns

JUNE 28, 2023

Podcasts Christine Benz and Jeff Ptak talk with Fritz Gilbert and Eric Weigel about retirement planning mistakes. (morningstar.com) Cameron Passmore and Benjamin Felix talk behavioral finance with Prof. Meir Statman. (rationalreminder.libsyn.com) Joe Saul-Sehy and OG talk with Jonathan Clements editor of “My Money Journey: How 30 People Found Financial Freedom and You Can Too.

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Alpha Architect

JUNE 30, 2023

Researchers have raised questions and led to research into how many factors are needed, the replicability of originally reported results, and the decay of factor performance over time. Diving Into the Performance of Factors was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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A Wealth of Common Sense

JUNE 30, 2023

Here’s a headline from a Bloomberg story about the economy: And the lede: The recession calls are getting louder on Wall Street, but for many of the households and businesses who make up the world economy the downturn is already here. This story probably could have been written yesterday but it was actually published a year ago, in July 2022. If it seems like we’ve been reading about a looming recession for m.

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Economy 139