Abnormal Returns
JUNE 30, 2024
Also on the site Some reasons why being online is so exhausting these days. (abnormalreturns.com) Top clicks this week Mean reversion happens in the stock market. Good luck trying to time it. (awealthofcommonsense.com) The degenerate economy is booming. (howardlindzon.com) Stop dissing standard deviation as a risk measure. (morningstar.com) Holding cash is comfortable right now, too comfortable.
Nerd's Eye View
JULY 5, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent U.S. Supreme Court decision shifting authority to interpret laws passed by Congress from Federal agencies to the judicial system could have significant impacts on regulation of the financial advice industry, including the potential for additional legal challenges to regulations from the Securities and Exchange Commission (SEC), the Department of Labor (DoL), and o
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The Big Picture
JULY 3, 2024
At The Money: Changing Your Behavior For Better Investing (July 3, 2024) If you could change only one thing that would help your investing, what would it be? Your own behavior. When it comes to investing, we are our own worst enemies. Why is this, and what can we do to avoid this fate? Neurologist and professional investor Dr. William Bernstein explains how to manage our emotions to avoid poor outcomes in markets.
A Wealth of Common Sense
JULY 2, 2024
Halfway through the year, the S&P 500 was up 15.3%, including dividends. Despite these impressive gains the bull market has been relatively boring this year. There have been just 14 trading days with gains of 1% or more. There has been just a single 2% up day in 2024. And there have only been 7 days of down 1% or worse. Small moves in both directions.
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.
Abnormal Returns
JUNE 30, 2024
Markets Entertainment stocks are struggling YTD. (hollywoodreporter.com) Lumber prices are struggling YTD. (wsj.com) Strategy Europe's stock market has badly lagged the U.S. How much longer can it last? (awealthofcommonsense.com) There's no getting around it, investing is complicated. (tker.co) Don't forget, stocks are real assets. (downtownjoshbrown.com) Policy The Supreme Court has overturned the Chevron doctrine.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Big Picture
JULY 2, 2024
The transcript from this week’s, MiB: Eva Shang, CEO, Legalist , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ Bloomberg Audio Studios, podcasts, radio News. This is Masters in business with Barry Ritholtz on Bloomberg Radio Barry Ritholtz : This week on the podcast.
A Wealth of Common Sense
JULY 5, 2024
My personal finance pipedream for America is that we adopt something like Australia’s retirement system where workers are forced to save a certain percentage of their income for retirement. That pipedream will never happen because Americans hate being forced to do anything. You need to make people think that saving for retirement is their idea.
Abnormal Returns
JULY 5, 2024
Economy Paul Podolsky talks with Lev Borodovsky, creator of The Daily Shot. (paulpodolsky.substack.com) Tyler Cowen talks with Joseph Stiglitz, author of "The Road to Freedom: Economics and the Good Society." (conversationswithtyler.com) Roben Farzad talks with Hal Hodson about the mind-boggling solar revolution. (pod.link) Alternatives Eric Golden talks with Phil Huber, Head of Portfolio Solutions at Cliffwater, about the case for private credit.
Nerd's Eye View
JULY 2, 2024
Welcome everyone! Welcome to the 392nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Kristopher Heck. Kristopher is a Founding Partner of Tanager Wealth Management, an RIA based in London, England, that oversees approximately $1.1 billion in assets under management (AUM) for 630 client households. What's unique about Kristopher, though, is how his firm has scaled to more than a billion dollars of AUM while specializing in working with clients whose personal an
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.
Carson Wealth
JULY 3, 2024
Running a small business involves juggling multiple responsibilities. Managing the business’s finances is one of the most crucial aspects. Proper financial management can be the difference between a thriving business and one that struggles to stay afloat. Here are eight essential financial tips for small business owners to help ensure long-term success. 1.
A Wealth of Common Sense
JUNE 30, 2024
Back in 2020 I wrote a quick rundown of the U.S. real estate market in charts to show how the pandemic was impacting the housing market. It’s been a few years so it’s time to update those charts. The existing home months’ supply measures the number of months it would take to sell all of the houses on the market at the current pace of sales: It’s well off the lows of late-2021/early-2022 and trendi.
Abnormal Returns
JULY 2, 2024
Quant stuff Beware small sample sizes. (mrzepczynski.blogspot.com) Just how useful is historical financial markets data? (retirementresearcher.com) A round-up of recent white papers including 'Embracing Down Rounds: A Potential Path to Long-Term Equity Value.' (bpsandpieces.com) Corporate finance Are companies any good at timing share repurchases? (marketwatch.com) When a company shifts its financial targets - take note.
Nerd's Eye View
JULY 3, 2024
Over the past few decades, technological advances and plummeting transaction costs have facilitated the emergence of a dizzying variety of ways to gain exposure to very specific areas of the market. As a result, advicers have more options than ever to add value for their clients by tailoring investment portfolios that are specific to their unique needs, goals, and risk tolerance.
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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.
Wealth Management
JULY 5, 2024
On the Foundation for Research on Equal Opportunity website, advisors and clients can search for the ROI of individual programs offered by private and state colleges and universities.
Calculated Risk
JULY 2, 2024
Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Tracking rents is important for understanding the dynamics of the housing market. For example, the sharp increase in rents helped me deduce that there was a surge in household formation in 2021 (See from September 2021: Household Formation Drives Housing Demand ).
Abnormal Returns
JULY 3, 2024
Strategy Politics and investing don't mix. (howardlindzon.com) Good luck trying to time market factors. (rogersplanning.blogspot.com) Not all investment decisions are created alike. (behaviouralinvestment.com) Finance A lot of loans got repriced in 2024, so far. (axios.com) What former Vanguard OCIO clients should expect. (blogs.cfainstitute.org) Startups Half of VC funding in Q2 went to AI-related startups.
A Wealth of Common Sense
JULY 3, 2024
Today’s Animal Spirits is brought to you by YCharts and CME Group: See here for 20% off (new customers only) and for more info on the tearsheet builder See here for more information on CME Group’s valuable educational materials and trading tools and learn more about what adding futures can do for you. On today’s show, we discuss: American stocks are consuming global markets JPM Guide to the Markets 6%.
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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.
Wealth Management
JULY 3, 2024
Tony Bennett's two daughters accuse their brother of mishandling their late father’s assets
Calculated Risk
JULY 3, 2024
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications decreased 2.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending June 28, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.6 percent on a seasonally adjusted basis from one week earlier.
Abnormal Returns
JULY 2, 2024
Markets It's been awhile since we had a 1% drop in the S&P 500. (cautiouslyoptimist.com) Even when the stock market is up YTD there are plenty of stocks that are down on the year. (awealthofcommonsense.com) Putting the growth in private credit into some perspective. (apolloacademy.com) Fund management Hedge funds have a size problem. (bloomberg.com) A great reminder that index construction matters.
Alpha Architect
JULY 5, 2024
Atilgan, Demirtas, and Gunaydin found that there has been a pollution premium for US stocks and that the premium translated into superior investment performance. Polluters Provide Higher Returns than Non-Polluters was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
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
Wealth Management
JULY 5, 2024
If your only differentiator is that you charge 75 basis points, you’ll likely lose the battle when the advisor across town drops to 50.
Calculated Risk
JULY 5, 2024
From the BLS: Employment Situation Total nonfarm payroll employment increased by 206,000 in June , and the unemployment rate changed little at 4.1 percent , the U.S. Bureau of Labor Statistics reported today. Job gains occurred in government, health care, social assistance, and construction. The change in total nonfarm payroll employment for April was revised down by 57,000, from +165,000 to +108,000, and the change for May was revised down by 54,000, from +272,000 to +218,000.
Abnormal Returns
JUNE 29, 2024
Autos Traffic deaths fell in Q1 but remain elevated. (fastcompany.com) A look at the growing battle over emergency braking systems. (axios.com) Waymo no longer has a wait list in San Francisco. (theverge.com) How much does it cost to insure a Tesla ($TSLA) Cybertruck? (sherwood.news) Energy We need a smarter grid, not just bigger. (semafor.com) How to use molten salt to store energy.
Advisor Perspectives
JULY 1, 2024
With crypto going mainstream, it’s important that advisors understand the pros and cons of including crypto in a portfolio.
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.
Wealth Management
JULY 1, 2024
Last week, the Court ruled that the commission’s use of in-house administrative law judges violated the Constitution’s guarantee of a jury trial in certain cases. That may change the landscape for financial advisors defending themselves against SEC charges and civil penalties.
Calculated Risk
JULY 1, 2024
Today, in the Calculated Risk Real Estate Newsletter: FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores A brief excerpt: Here are some graphs on outstanding mortgages by interest rate, the average mortgage interest rate, borrowers’ credit scores and current loan-to-value (LTV) from the FHFA’s National Mortgage Database through Q4 2023 (released this morning).
Abnormal Returns
JULY 4, 2024
Books An excerpt from "Unit X: How the Pentagon and Silicon Valley Are Transforming the Future of War" by Raj Shah and Christopher Kirchhoff. (theatlantic.com) A Q&A with Soraya Chemaly, author of "The Resilience Myth: New Thinking on Grit, Strength, and Growth After Trauma." (annehelen.substack.com) Insights from “Holding it Together: How Women Became America’s Safety Net,” by Jessica Calarco (crr.bc.edu) Business Shareholder supremacy explains a lot of the dysfunction and grifting around u
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