A Wealth of Common Sense
OCTOBER 15, 2024
The Great Financial Crisis decimated the balance sheets of most Americans. How could it not? Housing prices were down by nearly 30%. The stock market crashed almost 60%. The unemployment rate hit double-digits. It was the worst economic period most of us have ever lived through. The collective net worth of American households reached roughly $66 trillion by the end of 2007.
Abnormal Returns
OCTOBER 13, 2024
Top clicks this week If diversification is good, why not diversify globally? (humbledollar.com) Don't make your investing more complicated than it needs to be. (flyoverstocks.com) What institutional investors are doing isn't working. (blogs.cfainstitute.org) There is a whole class of pundits out there trying to knock you off your game. (downtownjoshbrown.com) Who died and paid the IRS a $7 billion estate tax bill?
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Nerd's Eye View
OCTOBER 18, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that Charles Schwab has revealed changes to its technology offerings in the wake of its merger with TD Ameritrade, bringing over several popular TD tools, including portfolio rebalancing tool iRebal, its Model Market Center model management service, and its trading platform thinkpipes, likely in an effort to keep former TD users (many of whom were accustomed to this software) o
The Big Picture
OCTOBER 16, 2024
At The Money: Our Complicated Relationship With Cash with Dr. Daniel Crosby (October 16, 2024) How can we improve our relationship with money and earning, investing and spending? Full transcript below. ~~~ About this week’s guest: Dr. Daniel Crosby is the Chief Behavioral Officer at Orion Advisor Solutions, where he helps financial advisors apply behavioral science in their practice.
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.
Fortune Financial
OCTOBER 14, 2024
It has been my experience when reviewing portfolios that diversification is typically expressed simply as a number of various stocks owned, or owning a handful of asset classes, usually stocks of various sizes and geographies, and bonds of varying maturities. While such a simple asset allocation may work for many investors, it is my view that too little thought is given to other diversification tools that may enhance a portfolio by addressing some vulnerabilities that can result when a portfoli
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Nerd's Eye View
OCTOBER 14, 2024
Independent Registered Investment Advisors (RIAs) often face significant challenges in attracting advisors who can proactively generate new business. Many employee advisors gravitate toward service-oriented roles; this preference often stems from their initial motivation for entering the profession – wanting to help clients or perform the more analytical aspects of investing and financial planning.
The Big Picture
OCTOBER 18, 2024
This week, we speak with Brian Higgins , co-founder, managing partner and co-portfolio manager of King Street. Higgins focuses on handling distressed securities, real estate investments and credit. He is chair of the Management Committee, Global Investment Committee, Real Estate Investment Committee, and is a member of the Risk Committee and Operating Committee.
A Wealth of Common Sense
OCTOBER 13, 2024
Through the end of September, the S&P 500 was up more than 36% in the prior 12 months. That’s a good return. In fact, it’s good enough to put it in the top 10% of one year returns going all the way back to 1926. The stock market is on a heater. Here’s one way to look at how wonderful things have been of late: I calculated the annualized returns over various time frames going way way back.
Abnormal Returns
OCTOBER 16, 2024
Podcasts Peter Lazaroff talks with Josh Brown, author of "You Weren’t Supposed to See That: Secrets Every Investors Should Know." (peterlazaroff.com) Justin Carbonneau and Matt Zeigler talk with Ben Carlson about major investing mistakes. (youtube.com) Dan Haylett talks with Bill Bengen about safe withdrawal rates. (humansvsretirement.com) Jim Dahle talks with Andrew Tobias author of "The Only Investment Guide You'll Ever Need.
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.
Nerd's Eye View
OCTOBER 16, 2024
Since the Tax Cuts & Jobs Act (TJCA) was passed in 2017, few households have been subject to the Alternative Minimum Tax (AMT), which TCJA restructured so that it applied mainly to a select number of upper-income households. But with the anticipated sunset of TCJA in 2026 and the reversion to the pre-2018 AMT rules, a large subset of households will find themselves owing AMT – many of whom will do so for the first time.
The Big Picture
OCTOBER 12, 2024
The weekend is here! Pour yourself a mug of Los Brasiles coffee, grab a seat outside, and get ready for our longer-form weekend reads: • Mossad’s pager operation: Inside Israel’s penetration of Hezbollah : New details emerge of Israel’s elaborate plan to sabotage Hezbollah communications devices to kill or maim thousands of its operatives. ( Washington Post ) • How to win a Nobel prize : What subjects have past winners studied?
Calculated Risk
OCTOBER 16, 2024
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 17.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 11, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 17.0 percent on a seasonally adjusted basis from one week earlier.
Abnormal Returns
OCTOBER 15, 2024
Strategy Diversification is more than just owning a lot of stocks. (fortunefinancialadvisors.com) What defines a group that makes high quality decisions? (behaviouralinvestment.com) Alternatives Charles Schwab ($SCHW) views alternatives as a (big) opportunity. (riabiz.com) JP Morgan Asset Management is refocusing its alternatives business. (institutionalinvestor.com) Retail Walgreens ($WBA) is closing some 1,200 stores.
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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.
Nerd's Eye View
OCTOBER 17, 2024
Launching an advisory firm can be a daunting endeavor, requiring advisors to take on significant financial and responsibility with no guarantees of success. Given these challenges, advisors may consider bringing on a business partner to share both the costs and the burden of decision-making. By pairing with a partner in the firm's early days, advisors can benefit from their business partner not just by having someone to split costs and risks with, but also to consult with as a sounding board and
The Big Picture
OCTOBER 15, 2024
The transcript from this week’s, MiB: Joe Lonsdale of 8VC, Palantir, Adapar & Opto , 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. ~~~ This is Masters in business with Barry Riol on Bloomberg Radio 00:00:16 [Speaker Changed] This week on the podcast.
Alpha Architect
OCTOBER 18, 2024
There’s no reason to think that the use of AI should lead to persistent fund outperformance, with any advantages gained likely being short lived. Artificial Intelligence, Textual Analysis and Hedge Fund Performance was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Abnormal Returns
OCTOBER 17, 2024
Autonomous driving Austin Vernon, "Humans being awful drivers leads to a massive increase in vehicle costs and weight, makes cars more dangerous to people outside of them, and imposes significant costs on infrastructure like roads." (austinvernon.site) What's it going to take to reach full autonomous driving? (stratechery.com) Defense Europe isn't prepared to defend itself absent the U.S.
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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.
Nerd's Eye View
OCTOBER 15, 2024
Welcome everyone! Welcome to the 407th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Mark Asaro. Mark is the Chief Investment Officer of Noble Wealth Management, an RIA based in Greenwood Village, Colorado, that oversees $320 million in assets under management for 160 client households. What's unique about Mark, though, is how he uses a liability-driven-investing approach to build retirement portfolios and manage sequence of return risk, with a particular focu
The Big Picture
OCTOBER 14, 2024
My back-to-work-because-Columbus-Day-is-no-longer-a-market-holiday morning reads: • If you think grocery prices take a big bite out of your paycheck in the US, check out the rest of the world : What’s more, it’s important to note that food prices in the U.S. — relatively speaking — are the cheapest in the world, and have been for a long time.
Calculated Risk
OCTOBER 14, 2024
Altos reports that active single-family inventory was down 0.3% week-over-week. Inventory is now up 48.3% from the February seasonal bottom. The first graph shows the seasonal pattern for active single-family inventory since 2015. Click on graph for larger image. The red line is for 2024. The black line is for 2019. Inventory was up 34.0% compared to the same week in 2023 (last week it was up 36.7%), and down 22/6% compared to the same week in 2019 (last week it was down 23.1%).
Abnormal Returns
OCTOBER 17, 2024
Markets Global market correlations are higher than they used to be, but aren't 1.0. (morningstar.com) Investors are already noticing the drop in cash yields. (wsj.com) Asset management Asset managers are rushing to launch CLO ETFs. (wsj.com) India's asset management market is fiercely competitive. (institutionalinvestor.com) Finance Charles Schwab ($SCHW) is deleveraging.
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
A Wealth of Common Sense
OCTOBER 18, 2024
It’s estimated baby boomers will pass down more than $80 trillion to their millennial and Gen X heirs over the next 20 years. This is going to be the greatest wealth transfer the world has ever seen. The timing of these transfers will be a hotly debated topic for many families. Baby boomers were born between 1946 and 1964, making them in the range of 60-78 years old.
Wealth Management
OCTOBER 17, 2024
John Hardin will join the UBS in Miami with Integra Partners, a private wealth team with more than $7 billion AUM. Senior Wealth Strategy Associate Katelyn O’Hara will join him.
Calculated Risk
OCTOBER 18, 2024
Today, in the Calculated Risk Real Estate Newsletter: Housing Starts Decreased to 1.354 million Annual Rate in September A brief excerpt: Total housing starts in September were slightly above expectations and starts in July and August were revised up. A solid report. The third graph shows the month-to-month comparison for total starts between 2023 (blue) and 2024 (red).
Abnormal Returns
OCTOBER 15, 2024
Retail Just how profitable is to trade against retail order flow? (papers.ssrn.com) Zero commissions could obscure the true costs of trading. (papers.ssrn.com) Quant stuff How XTX Markets have generated huge profits using cutting edge quant models. (on.ft.com) A look at the companies behind the scenes setting odds at online sports books. (bloomberg.com) Jane Street interns make good coin.
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.
Advisor Perspectives
OCTOBER 17, 2024
Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process.
Wealth Management
OCTOBER 18, 2024
Separate lawsuits have LPL Financial and Ameriprise Financial battling over advisors leaving, claiming breach of contract and misuse of confidential client information.
Trade Brains
OCTOBER 17, 2024
Palm oil, the world’s most widely consumed vegetable oil, is facing a complex web of challenges and changes. This article explores the current state of the industry, its major players, and the factors shaping its future. Global Production and Market Dynamics Palm oil is a crucial commodity in the global market. Indonesia and Malaysia are the top producers, dominating the industry.
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