The Big Picture

DECEMBER 13, 2023

Tyler Cowen and his colleague Alex Tabarrok write some interesting posts over at Marginal Revolution. Sometimes I agree with them, sometimes I disagree with them. Recently, a post utterly perplexed me: “One doesn’t get a favorable impression of crypto from Number Go Up but in fact one doesn’t learn much about crypto at all. Indeed, Faux’s book isn’t really about crypto it’s about the rise and collapse of a bubble and the consequent madness of crowds.

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Numbers Government Assets Management 313

Abnormal Returns

DECEMBER 14, 2023

Markets Some data matters more than others for the stock market. (theirrelevantinvestor.com) All the price trends are headed in the right direction. (capitalspectator.com) Global The FTSE 100 trades around 10x earnings. (economist.com) Why Japanese retail investors are notoriously equity-averse. (ft.com) Strategy Historically the stock market recovers to all-time highs, sometimes it just takes time.

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Financial Advising Retail Media Economy 278

Nerd's Eye View

DECEMBER 12, 2023

Welcome back to the 363rd episode of the Financial Advisor Success Podcast! My guest on today's podcast is Christa Madison. Christa is the Managing Director of Financial Planning and Business Development at Sebold Capital, a fee-only RIA based in Chicago, Illinois, which manages $300M across more than 100 client households. What's unique about Christa, though, is how she used her business development and networking skills to overcome the challenges that sprung up when, through a combination of p

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A Wealth of Common Sense

DECEMBER 15, 2023

Robert Kiyosaki wrote one of the most-read personal finance books of all time — Rich Dad, Poor Dad. I read it early on in my career. It never really did it for me but I can see why people latch onto the allegory he shares about learning the right financial habits. It’s a good thing to get people interested in personal finance because no one teaches you this stuff.

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Marketing Marketing 142

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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

The Big Picture

DECEMBER 11, 2023

No, “ nearly half ” of $94.5 billion in retail inventory losses in 2021 was not “attributable to organized retail crime.” That line is just another in a long series of falsehoods put forth by the professional b *s at the National Retail Federation. Here’s Reuters : “The main lobbying group for U.S. retailers retracted its claim that “organized retail crime” accounted for nearly half of all inventory losses in 2021 after finding that incorrect data was used for its analysis.

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Retail Accounting Sales Numbers 353

Nerd's Eye View

DECEMBER 15, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week’s edition kicks off with the news that this week's round of public hearings on the Department of Labor's proposed new fiduciary rule featured fierce opposition from the brokerage and insurance industries – which, while unsurprising given those industries' stance against the DoL's previous fiduciary rule (which ultimately caused it to be struck down in court in 2018), nonetheless highlights the debat

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Carson Wealth

DECEMBER 11, 2023

Stocks Remain Strong Stocks took a break last week, which was perfectly normal after a five-week win streak coming off the late-October lows. It is important to remember that stocks lead the economy, both on the way up and the way down. Various indexes are closing in on new all-time highs, and one of the most important indexes in the world is already there.

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Marketing Marketing Economy Compliance 143

The Big Picture

DECEMBER 9, 2023

 This week, we speak with investing legend Joel Tillinghast. He has been a mutual fund manager in the equity division at Fidelity Investments since the 1980s. Tillinghast launched Fidelity’s Low-Priced Stock (FLPSX) in 1989, and has trounced the averages ever since. Since inception, FLPSX has annually beaten the S&P 500 by over 3% and the Russell 2000 by over 4%.

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Abnormal Returns

DECEMBER 13, 2023

Strategy There's a good chance you need to rebalance your portfolio. (morningstar.com) Bonds outperform bills leading up to a Fed rate cut. (carsongroup.com) Apple What's going on with Apple's ($AAPL) Vision Pro? (om.co) Apple ($AAPL) is adding a new Stolen Device Protection setting. (wsj.com) Companies Why Epic's win against Google ($GOOGL) matters.

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Assets Financial Advising Media Economy 245

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

Nerd's Eye View

DECEMBER 13, 2023

Although numerous tax-advantaged vehicles are available for retirement savings, Health Savings Accounts (HSAs) have particular benefits for individuals saving for retirement. Specifically, HSAs offer a "Triple Tax Benefit" that includes tax-deductible contributions, tax-deferred growth, and tax-free withdrawals for qualified medical expenses. This can allow individuals to save a significant amount that can be withdrawn tax-free for medical expenses later in retirement.

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Retirement Medical Taxes Insurance 210

Alpha Architect

DECEMBER 15, 2023

The timing of equity factor premiums has a strong allure for investors because academic research has found that factor premiums are both time-varying and dependent on the economic cycle. The Temptation of Factor Timing was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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Economics Asset Allocation Assets Investing 126

The Big Picture

DECEMBER 14, 2023

At the Money: Mutual Funds vs. ETFs with Dave Nadig, Financial Futurist for Vetta Fi (December 13, 2023) What’s the best instrument for your investments? Mutual funds or ETFs? On today’s edition of At the Money, Barry Ritholtz speaks to Dave Nadig about the pros and cons of these two investment vehicles. Listen to find out which is right for you.

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Taxes Distribution Accounting Portfolio 176

Abnormal Returns

DECEMBER 14, 2023

Books A Q&A with Kelly and Zach Weinersmith co-authors of "A City on Mars: Can We Settle Space, Should We Settle Space, and Have We Really Thought This Through?" (insidehook.com) An excerpt from "The Greatest Capitalist Who Ever Lived: Tom Watson Jr. and the Epic Story of How IBM Created the Digital Age" by Ralph Watson McElvenny and Marc Wortman.

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Media 242

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

Financial Planning

Nerd's Eye View

DECEMBER 14, 2023

In the world of financial advisors, tradition often emphasizes technical numbers, structure, and a firm focus on solving financial problems. However, in practice, forging a human connection – such as sitting around a fire and having a conversation, digging into emotions, feelings, fears, and things that really matter – and tying it to a client's mindset surrounding their financial priorities and goals can be a powerful way to encourage individuals to explore and reassess their perspe

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Financial Advisor Communication Clients Financial Planning 194

Discipline Funds

DECEMBER 14, 2023

It’s been a doozy of a few months for the bond markets as 10 year interest rates surged from 4% during the Summer to over 5% in October and then round tripped all the way back. Two months ago when the rate was over 5% there was constant chatter of a resurgence in inflation and a lack of demand for new bond issuance. But in the last six weeks interest rates have plummeted on expectations of lower inflation and an easier Federal Reserve in 2024.

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Government Economy Marketing Marketing 120

A Wealth of Common Sense

DECEMBER 12, 2023

Let’s walk through a quick thought exercise: How many homeowners could afford the monthly payment on their house at current levels of mortgage rates and home prices? Take the current value of your home, subtract 20% for a down payment and slap a 7% mortgage rate on it. Could you afford it? I did this for my house. The monthly payment would be nearly three times what we’re currently paying!

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Abnormal Returns

DECEMBER 9, 2023

EVs Elon Musk loyalists will likely buy the new Tesla ($TSLA) Cybertruck. (ritholtz.com) Why repairing an EV is so expensive compared to a traditional vehicle. (wsj.com) Chinese EV manufacturers can't hire fast enough. (nytimes.com) Autos Hybrids are having a moment. (axios.com) How options theory informs car leasing. (moontower.substack.com) Where are the robot trucks?

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Medicine Food Manufacturing Financial Advising 235

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

Management

Nerd's Eye View

DECEMBER 11, 2023

For most financial advisors, 2023 was a year of rebound and reinvestment, as markets bounced back from the turbulence of 2022, and expanded profit margins allowed advisory firms room to reinvest back into the services and value they're providing clients to make sure their retention stays strong in the future. Here at Kitces.com, we've similarly been in the midst of a reinvestment process in 2023, setting the foundation so that we can give even more back to the Financial Advicer community, as we

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Financial Advisor Financial Advice Ethics Financial Planning 187

Wealth Management

DECEMBER 15, 2023

After rejoining the protocol earlier this year, Cresset is doing an about face and will leave the agreement effective Jan. 1, suggesting to some legal observers an ownership transition may be on the horizon.

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A Wealth of Common Sense

DECEMBER 14, 2023

A reader asks: Ben in your recent blog post you said $1M investable wealth makes you rich. I would like to provide a counterargument to that. When you retire, $1M basically gives you $40,000 per year to live off of, assuming the 4% rule of thumb is a reasonable starting point to think about retirement income. So is $40k spend a year really rich? I would argue that it is middle class at best; probably lower middle class.

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Retirement Investing Investments 119

Abnormal Returns

DECEMBER 12, 2023

Strategy Why do people still try to forecast a year ahead? (behaviouralinvestment.com) Stocks can hedge against inflation, but you still shouldn't hope for it. (morningstar.com) Finance $4 trillion of 'dry powder' for PE. Opportunity or threat? (ft.com) Citadel Investments had (another) good year. (bloomberg.com) ETFs ETFs continue to generate interest among advisers.

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Financial Advising Retail Media Economy 231

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Digital platforms can provide you with plenty of solutions, yet many are still intimidated by them. It's time to end that worry and embrace what could make a major difference for your bank. Understanding how they work and how to best utilize them for your banks is key toward success. In this article, Biz2X breaks down all things digital platforms, including the many advantages of embracing them.

Banking

Trade Brains

DECEMBER 14, 2023

Top Indian Stocks held by BlackRock : BlackRock is a global Investment firm incorporated in The United States in 1999. The firm has a presence in 36 countries with clients across the Americas, Europe, Asia, Australia, and EMEA. The Company is an Investment manager to Individuals, Educational and non-profit Organizations, Pension Funds, Insurance Companies, and governments.

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Consulting Banking Insurance Retail 113

Wealth Management

DECEMBER 12, 2023

In this final episode of the Common Area podcast, listen to a replay of David Bodamer's conversation with Capital Square's Louis Rogers about the tax benefits of certain real estate structures.

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Taxes 119

Advisor Perspectives

DECEMBER 12, 2023

To break out of your prospect’s selection process and avoid being commoditized as an advisor, you must shift them out of their shopping-mode mindset.

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Abnormal Returns

DECEMBER 11, 2023

Markets Every major asset class, except commodities, is set for an up 2023. (capitalspectator.com) The drop in bond yields reversed a lot of market trends. (wsj.com) Crypto Coinbase ($COIN) is the 'last man standing' in the crypto space. (nytimes.com) Zeke Faux's "Number Go Up" isn't really a book about crypto. (marginalrevolution.com) Finance The mostly highly-rated sell-side analysts work hard.

Media 230

Media Financial Advising Retail Economy 230

Speaker: Lynnette Khalfani-Cox, The Money Coach®

Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?

Clients

A Wealth of Common Sense

DECEMBER 10, 2023

Some things I’ve been thinking about lately: 1. I think this is the strongest labor market we’ll see in my lifetime. Since the Fed began raising rates in March 2022, the U.S. economy has added more than 6 million new jobs. This year we’ve added 2.5 million jobs. The whole idea of rate increases was to slow consumer demand which would cause companies to cut back which would lead to job cuts which would sl.

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Economy Marketing Marketing 113

Wealth Management

DECEMBER 11, 2023

The underweight of non-US equities, opportunities in cryptocurrency, the rise of artificial intelligence and machine learning in investments—these are important topics for today’s investors.

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Assets Investing Investments 119

NAIFA Advisor Today

DECEMBER 14, 2023

NAIFA 2023 President Bryon Holz , CLU, ChFC, LUTCF, CASL, LACP, and 2024 President Tom Cothron , LUTCF, FSCP, cut the ribbon on NAIFA's new national headquarters in Arlington, VA, in early December. Also participating in the ceremony were NAIFA Past Presidents Tom Michel , LACP, CLTC, and Larry Holzberg , LUTCF, LACP.

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