The Big Picture

JUNE 27, 2024

I’ve been observing how radically unusual various sentiment readings have been for a few years now. It made little sense to me that the post-pandemic era saw sentiment levels far below major dislocations such as the ‘87 crash, the 9/11 terrorist attacks, the Dotcom implosion, or the 08-09 great financial crisis. We have tried to identify the causal factors by considering social media , increases in partisanship , ignorance, even trolling of pollsters.

Economics 321

Economics Budgeting Sales Media 321

Abnormal Returns

JUNE 23, 2024

Strategy Mean reversion happens in the stock market. Good luck trying to time it. (awealthofcommonsense.com) Successful investing requires getting your time horizon correct. (disciplinefunds.com) Always check the ticker. (scheplick.com) Business The degenerate economy is booming. (howardlindzon.com) How veterinary medicine became a big business. (nytimes.com) The defense sector can't hire workers fast enough.

Medicine 311

Medicine Financial Advising Economy Media 311

Nerd's Eye View

JUNE 25, 2024

Welcome everyone! Welcome to the 391st episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Christopher Jones. Chris is the founder of Sparrow Wealth Management, an RIA based in Orlando, Florida, that oversees approximately $110 million in assets under management for 68 client households. What's unique about Chris, though, is how he has built a highly efficient solo practice that allows him to work fewer than 25 hours/ week to have more time for his family and manage

Clients 200

Clients Financial Advisor Financial Planning Wealth Management 200

A Wealth of Common Sense

JUNE 23, 2024

I posted the following on Twitter this week: It’s turning into another banner year for the U.S. stock market (so far). Here’s a good follow-up question on these numbers: This is a legitimate concern. Since 2020 the S&P 500 has compounded at more than 14% per year. That’s not just a pandemic phenomenon either. Since the start of 2009, the S&P 500 has seen returns of 14.5% per year.

Marketing 136

Marketing Marketing Numbers 136

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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Accounting

The Big Picture

JUNE 28, 2024

This week, we speak with Eva Shang , co-founder, general partner, and chief executive officer of Legalist , an institutional alternative asset management firm. She leads the company’s 35-person team of engineers, attorneys, and analysts, and is a member of the firm’s valuation and investment committees. Before co-founding Legalist at 20, Eva studied economics at Harvard College.

Engineering 182

Engineering Valuation Government Accounting 182

Abnormal Returns

JUNE 23, 2024

Top clicks this week There are two types of money people. (awealthofcommonsense.com) The traditional IRA looks less and less attractive. (thinkadvisor.com) What's different about the Magnificent Seven stocks. (awealthofcommonsense.com) What matters when your mortality stares you in the face. (humbledollar.com) The case for swapping large caps for small caps.

Investing 295

Investing Investments Marketing Marketing 295

A Wealth of Common Sense

JUNE 28, 2024

I came across a bunch of charts in the past few weeks about Europe’s economic and market struggles. Let’s take a look. These charts that show how the biggest companies in the U.S. stock market are as big or bigger than some of the biggest economic powers in Europe always get me: The UK has something like 1,900 stocks on the London exchange.

Economics 130

Economics Marketing Marketing 130

The Big Picture

JUNE 22, 2024

“ THEY ARE THE CHAMPIONS : Word has it that Sony Music has prevailed in the contest for Queen’s [link] recording and publishing rights and their attendant revenue—including that from the Disney deal—for which House Stringer and Platt has reportedly tendered the winning offer of a cool 1 billion pounds sterling. Disney, which owns the recording rights in North America thanks to the 1990 deal that cost the Mouse $10m, has hitherto paid a handsome royalty to Queen; that will go to Sony under

License 162

License Estate Planning Advertising Commission 162

Abnormal Returns

JUNE 25, 2024

Alternatives Pension plans could generate equivalent returns with low-cost, index investments. (crr.bc.edu) Equity funds with VC investments don't outperform. (papers.ssrn.com) Just how big is the carried interest loophole. (papers.ssrn.com) 52 week highs Liquidity picks up at 52-week highs. (papers.ssrn.com) Do corporate bonds take note of 52-week stock highs?

Retail 289

Retail Management Planning Investing 289

Nerd's Eye View

JUNE 26, 2024

Traditionally, the challenge in using a 529 plan to save for higher education expenses has been figuring out how much to save to cover the beneficiary's college costs without overshooting and saving more in the 529 plan than is actually needed. Because while 529 plans' combination of tax-deferred growth on invested funds and tax-free withdrawals for qualified education expenses (plus many state-level tax deductions or credits on 529 plan contributions) make it a powerful savings vehicle for coll

Education 181

Education Retirement Taxes Distribution 181

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

Assets

A Wealth of Common Sense

JUNE 25, 2024

Here’s a headline you only see during a bull market: This is from the article: “It’s a new way of making money,” Nova told Fortune. “New possibilities for people: that you don’t have to, in this day and age, work as hard. Work smarter, not harder.” Following the stars has worked out for Nova. She quit her job as a tarot reader and astrology consultant this year to day-trade, fin.

Marketing 128

Marketing Marketing Consulting 128

Calculated Risk

JUNE 26, 2024

Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: ABI May 2024: Business conditions at architecture firms continue to soften The AIA/Deltek Architecture Billings Index (ABI) score declined to 42.4 for the month , as more firms reported a decrease in billings in May than in April. In addition, there is increasing softness in the pipeline of new work coming into firms.

Clients 128

Clients Economics Numbers Investing 128

Abnormal Returns

JUNE 22, 2024

Autos On the barriers to continued growth in EV sales in the U.S. (ft.com) Car dealerships around the country are dealing with a software outage. (theverge.com) Fisker ($FSRN) has filed for bankruptcy. (wsj.com) The Tesla ($TSLA) Model Y is the most made-in America car. (axios.com) Congestion pricing Why congestion pricing has failed in NYC, so far.

Food 285

Food Financial Advising Media Sales 285

Nerd's Eye View

JUNE 28, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent study found that at a time when the number of SEC-registered broker-dealers and their registered representatives is declining, the number of SEC-registered RIAs, their assets under management, and the number of clients they serve all grew in 2023, reflecting the attractiveness of the RIA model to both advisors and clients alike and the ability for firms acro

Financial Planner 166

Financial Planner Clients Compliance Numbers 166

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Management

Advisor Perspectives

JUNE 25, 2024

I have long admired Jonathan Clements. His columns in The Wall Street Journal introduced me to index-based investing. I was deeply saddened to read his column in HumbleDollar, dated June 15, 2024, that, at age 61, he has been diagnosed with lung cancer that has metastasized to his brain and “a few other spots.

Investing 128

Investing Investments 128

Calculated Risk

JUNE 24, 2024

Altos reports that active single-family inventory was up 2.2% week-over-week. Inventory is now up 28.4% from the February seasonal bottom, and at the highest level since July 2020. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of June 21st, inventory was at 634 thousand (7-day average), compared to 621 thousand the prior week.

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Abnormal Returns

JUNE 27, 2024

Markets By this measure, the stock market is at record-high concentration. (axios.com) It's been awhile since we had a 2% stock market drop. (carsongroup.com) Strategy Investing is planning. (mrzepczynski.blogspot.com) Why you shouldn't care what other investors or the markets are doing. (safalniveshak.com) Companies Monster Beverage ($MNST) is unique not only for its stock performance.

Financial Advising 277

Financial Advising Startup Valuation Manufacturing 277

Nerd's Eye View

JUNE 27, 2024

The practice of asking questions has always been an integral part of the financial planning process. In the early days of the advicer industry, those questions almost exclusively dealt with facts around a client's or prospect's financial situation to determine (ultimately) what products the adviser should recommend. However, given the industry's ongoing transition away from being primarily transaction-focused and towards being relationship-based, advicers have had to learn how to develop meaning

Clients 151

Clients Financial Planning Communication Planning 151

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

A Wealth of Common Sense

JUNE 27, 2024

A reader asks: I was listening to WAYT and Josh mentioned and Michael seemed to agree that the small cap premium no longer exists (since the 1980s). I was hoping that this question can be discussed and dissected: What is this premium? Why doesn’t it exist anymore? How do you know? Is it still worth being owning small caps? My uneducated opinion was that small caps historically performed on par, if not better, than t.

Asset Allocation 121

Asset Allocation Assets Marketing Marketing 121

Calculated Risk

JUNE 27, 2024

From the NAR: Pending Home Sales Dropped 2.1% in May Pending home sales in May slipped 2.1% , according to the National Association of REALTORS®. The Midwest and South posted monthly losses in transactions while the Northeast and West recorded gains. Year-over-year, all U.S. regions registered reductions. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – decreased to 70.8 in May.

Sales 121

Sales Economy Marketing Marketing 121

Abnormal Returns

JUNE 24, 2024

Podcasts Josh Brown and Michael Batnick talk digital assets with Ric Edelman. (youtube.com) Callie Cox talks with Jeff Benjamin about her new role at Ritholtz Wealth and the state of the markets and economy. (etf.com) Daniel Crosby talks with Nuala Walsh, author of "TUNE IN: How to Make Smarter Decisions In a Noisy World." (standarddeviationspod.com) Fisher Investments Some estimates on how much a stake in Fisher Investments went for.

Financial Advising 275

Financial Advising Assets Retirement Economy 275

Wealth Management

JUNE 28, 2024

Asset managers continue to launch investment products that resonate with advisors. But what assets work best in the space, and how to deploy them into client portfolios, remains up for debate.

Assets 119

Assets Investing Investments Portfolio 119

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

Advisor Perspectives

JUNE 26, 2024

What I see emerging, though, is the idea that the CRM isn’t a single pane of glass to view the entire business. Effective CRMs are more like prisms, where the viewer’s role determines what they see, and what information leaps to their fingertips.

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Alpha Architect

JUNE 28, 2024

While both the S&P 500 and the Nikkei indices have recently hit all-time highs, the valuation and balance sheet data we have reviewed indicate that the downside risks in Japanese stocks appear to be far less than the risks in U.S. stocks. Evidence such as this helps explain why legendary investor Warren Buffett has been buying Japanese stocks. U.S.

Valuation 116

Valuation Investing Investments 116

Abnormal Returns

JUNE 28, 2024

Business Matte Reustle talks with Joseph Shaposhnik about the business of Motorola Solutions ($MSI). (joincolossus.com) Barry Ritholtz talks with Peter Rawlison, CEO of Lucid Motors ($LCID). (ritholtz.com) Finance Ted Seides talks market narratives and more with Ben Hunt. (capitalallocators.com) Matt Zeigler talks with Epsilon Theory co-founder Rusty Guinn.

Assets 273

Assets Management Investing Investments 273

Wealth Management

JUNE 25, 2024

The estate tech company is betting that increased human service and support are worth sacrificing speed.

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119

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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

Planning

Calculated Risk

JUNE 26, 2024

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Decrease to 619,000 Annual Rate in May Brief excerpt: The Census Bureau reports New Home Sales in May were at a seasonally adjusted annual rate (SAAR) of 619 thousand , however the three previous months were revised up sharply. The next graph shows new home sales for 2023 and 2024 by month (Seasonally Adjusted Annual Rate).

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Sales 117

Advisor Perspectives

JUNE 24, 2024

Will the energy transition, from fossil fuel to other sources of energy, happen? It seems almost sacrilegious to suggest that it might not, or that the transition will be halting and incomplete.

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110

Abnormal Returns

JUNE 28, 2024

Strategy Is the small cap premium dead? (awealthofcommonsense.com) Home bias illustrated: the case of Canadian investors. (bnnbloomberg.ca) The financial markets are noisy. You need a path through. (marknewfield.substack.com) Companies Accenture ($ACN) is making bank on generative AI. (sherwood.news) Walgreens ($WBA) is closing hundreds of U.S. stores.

Financial Advising 245

Financial Advising Food Media Banking 245

Wealth Management

JUNE 24, 2024

Six ways to help clients gain peace of mind regarding inflation.

Estate Planning 119

Estate Planning Retirement Taxes Planning 119

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

Clients