The Irrelevant Investor

MARCH 4, 2016

The only thing gold miners and biotech stocks have in common is their extreme performance over the past few years. While miners lost 76% of their value between 2011 and 2015, biotechs gained 241%. Below you'll see the 31-week rate of change of gold miners versus biotechs, which has spent most of the last few years deeply in the red. However, this ratio has jumped through the stratosphere, rocketing 144% in just the last 31 weeks.

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Brown Advisory

MARCH 1, 2016

The Advisory | March 2016 Insights on Markets and Investments. achen. Tue, 03/01/2016 - 11:37. So far in 2016, investors have encountered some of the worst market turbulence in many years. The key to weathering the volatility is staying true to a long-term investment plan. In this issue: Through the Storm. Stock market volatility has spiked in response to immediate market concerns about energy prices, weakening economic growth in China and changes to monetary policy, as well as momentous capital

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The Irrelevant Investor

MARCH 4, 2016

We've seen some explosive moves since the S&P 500 bottomed on January 20th. 241 S&P 500 stocks are up double digits, 29 stocks are up more than 20%, and 8 stocks are up more than 50%. Below is a further dissection of recent S&P 500 performance from the bottom. Here are the returns of the S&P 500 broken down by market cap, from largest to smallest.

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The Irrelevant Investor

MARCH 3, 2016

"There's a quick and easy way to test whether an activity involves skill; ask whether you can lose on purpose. In games of skill, it's clear that you can lose intentionally but when playing roulette or the lottery you can't lose on purpose." - Michael Mauboussin I don't believe that stock picking is entirely a game of luck, but the fact that there is a large amount of luck involved is indisputable.

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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.

Accounting

The Irrelevant Investor

MARCH 1, 2016

A new paper was recently published titled The Market for Financial Adviser Misconduc t by Mark Egan, Gregor Matvos, and Amit Seru. It takes a deep dive into financial adviser shenanigans and quantifies everything from repeat offenders, to misconduct across firms, to the consequences of misconduct. This is a must read for anybody in the industry. Below I've clipped some of the data I found to be most interesting.

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Brown Advisory

MARCH 1, 2016

Through The Storm. achen. Tue, 03/01/2016 - 15:11. Stock market volatility has spiked in response to immediate market concerns about energy prices, weakening economic growth in China and changes to monetary policy, as well as momentous capital-market shifts during the past 20 years. In times like these, investors earn their stripes by staying focused on their long-term goals.

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Brown Advisory

MARCH 1, 2016

A Lift Amid Headwinds: The Appeal of Mortgage Bonds. achen. Tue, 03/01/2016 - 15:28. With the Federal Reserve tightening for the first time since 2006, investors may generate competitive returns from the comparatively stable market for mortgage-backed securities. "Know your borrower!”—a lesson from the subprime mortgage meltdown last decade—is now the key to achieving outperformance through investing in the even-keeled market for government-backed mortgage bonds.

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Brown Advisory

MARCH 1, 2016

‘The Ultimate Mobile Device’: Redefining the Automobile. achen. Tue, 03/01/2016 - 15:52. For more than a century, automakers have provided a way to find adventure and new possibilities just beyond the horizon. Now the industry is also trying to satisfy consumers’ Web-focused wanderlust. Global automakers—latecomers to the digital highway—are now trying to hog its fast lane.

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Brown Advisory

MARCH 1, 2016

Present at the Creation: Early-Stage Venture Capital. achen. Tue, 03/01/2016 - 16:02. While headlines often focus on Uber, Airbnb and other private companies valued at more than $1 billion, we are looking beyond the so-called unicorns to find opportunities for bigger returns in early-stage venture capital. In 2011, a Tel Aviv-based startup called Cyvera began developing cybersecurity software deploying the coding equivalents of barriers and traps to thwart hackers staging potentially devastating

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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

Brown Advisory

MARCH 1, 2016

Back in Fashion: The Jackie Onassis Trust. achen. Tue, 03/01/2016 - 16:14. Jacqueline Kennedy Onassis structured her will with an approach toward charity and her heirs that, given the outlook for interest rates, is back in style. Through her will, former first lady Jacqueline Kennedy Onassis left behind a sizeable inheritance for her children while incorporating an innovative estate planning tool aimed at meeting her philanthropic goals.

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The Irrelevant Investor

FEBRUARY 29, 2016

After a four and a half year bear market which saw the value of gold fall by 45%, the precious metal enthusiasts finally have something to smile about. Gold is up over nine percent in February, its best month since January 2012. We're always told that gold is a safe haven, so I wanted to see if these type of rallies have provided any signal, one way or the other, as to how stocks have performed going forward.

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