Nerd's Eye View

OCTOBER 23, 2023

Many financial advisors take pride in the comprehensive nature of the advice they provide to clients and use the variety of services offered as a point of differentiation between themselves and other types of advisors. Though, at some point, covering a large number of financial planning topics can eat into an advisor's time, which is problematic if clients won't pay substantially more to receive that more comprehensive advice.

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The Big Picture

OCTOBER 23, 2023

The chart in this morning’s reads shows what it is going to cost to fund the interest payments on the federal debt. It’s gone vertical as rates have moved from effectively 0 to over 5%. When rates were zero all of corporate America refinanced, lowering the cost of their debt to historically low levels. Households did the same; today 61% of homeowners with a mortgage are paying 4% or less in interest.

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Government Economics Taxes Budgeting 333

Abnormal Returns

OCTOBER 22, 2023

Top clicks this week We are living through the worst bond bear market in history. (awealthofcommonsense.com) Just how expensive are the 'Magnificent Seven' stocks? (blog.validea.com) Why TIPS now merit 'serious consideration.' (morningstar.com) There is no single definitive model for the term premium. (wsj.com) Do investors really understand the return profile of options-writing funds?

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Marketing Marketing 309

The Reformed Broker

OCTOBER 24, 2023

Conservatory at Biltmore, by Ann Vasilik via Our State There are four million households in North Carolina. Approximately half of those households (1.922 million) are comprised of a married male and female with children. Another half million are a female head of household with kids. There’s 180,000 or so male-led homes with children and then 1.4 million non-family households.

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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.

Accounting

Nerd's Eye View

OCTOBER 25, 2023

There is a general understanding that investment advisers have a fiduciary relationship with their clients – in other words, that they are required to act in the client's best interests. But although this concept makes sense in the abstract, it isn't always clear what an adviser needs to do to fulfill their fiduciary duty in real-life situations.

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Abnormal Returns

OCTOBER 26, 2023

Markets Why aren't stocks down more? (theirrelevantinvestor.com) The stock-bond correlation does one thing: it changes. (fa-mag.com) Stocks outperform bonds over the long run, but not every year or even decade. (bestinterest.blog) 60/40 portfolios Where the valuation of the 60/40 portfolio stands. (morningstar.com) Why the 60/40 portfolio endures. (demystifyingmarkets.com) Strategy On the importance of being able to sit on your hands.

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Financial Advising Valuation Portfolio Economy 278

The Reformed Broker

OCTOBER 27, 2023

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Rick Brink, and Downtown Josh Brown discuss inflation, what constitutes a recession, monetary policy, going long duration, the biggest risks to the market, and more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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Nerd's Eye View

OCTOBER 27, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the shift in financial advice from pure investment management to comprehensive financial planning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity of their financial goals.

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Financial Planner Financial Advice Financial Advisor Tax Planning 226

The Big Picture

OCTOBER 27, 2023

My end-of-week morning train WFH reads: • Forget the ‘death of downtowns’ — we’re about to experience the Big City Renaissance. But this bleak future is not set in stone. Cities like New York, San Francisco, and Chicago can use the short-term challenges of the remote-work shift to reinvent themselves, enhance their quality of life, and attract footloose residents.

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Financial Services Assets Management Economy 242

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

Abnormal Returns

OCTOBER 27, 2023

Bonds The bond market is doing the Fed's work for it. (ft.com) The bond market touches just about everything. (nytimes.com) Strategy A big way how the stock market has changed over time. (awealthofcommonsense.com) Successful stock investing is about knowing when you are wrong as early as possible. (microcapclub.com) Hedge funds aren't the cure for market volatility.

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Media Financial Advising Economy Numbers 277

The Reformed Broker

OCTOBER 24, 2023

Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Small Caps are F*cked – “But as with everything, there is more to the story…” ►Chevron Buys Hess – Second major domestic oil deal in a month after Exxon agreed to buy Pioneer.

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Nerd's Eye View

OCTOBER 24, 2023

Welcome everyone! Welcome to the 356th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Sarah-Catherine Gutierrez. Sarah-Catherine is the founder of Aptus Financial, a fee-only financial planning firm based in Little Rock, Arkansas, that is approaching $2M in revenue and works with over 480 client households. What's unique about Sarah-Catherine, though, is that despite the common industry belief that the only way to build and scale a firm is through AUM, she has

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The Big Picture

OCTOBER 27, 2023

Since the Great Financial Crisis in 2008-09, the income portion of portfolios has been almost an afterthought. Your checking and savings accounts earned less than 30bps; so too did the cash sitting in your brokerage account. Equities did well, averaging ~14% during the 2010s, but Bonds, not so much. For the decade1 from 2012 to 2022, 10-year Treasuries yielded less than 3% and averaged closer to 2%.

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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.

Accounting

Abnormal Returns

OCTOBER 25, 2023

Strategy A big regime shift has happened in the economy and financial markets. (ritholtz.com) Rapid company growth comes with its own risks. (onveston.substack.com) Not all share buybacks are created equal. (investmenttalk.co) Finance Poor recent performance has put the IPO market back on ice. (finance.yahoo.com) Banks are still sitting on the Twitter debt they underwrote.

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Portfolio Financial Advising Economy Media 277

The Reformed Broker

OCTOBER 24, 2023

Final Trades: Wynn, McDonald’s & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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A Wealth of Common Sense

OCTOBER 22, 2023

Every three years the Federal Reserve puts out a report that summarizes the changes to family finances in the United States. I know averages, aggregates, medians and such never tell the entire story but directionally this stuff can be helpful in terms of understanding where things stand. Let’s dig in. Real median net worth for U.S. households was up a stunning 37% from 2019-2022.

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The Big Picture

OCTOBER 26, 2023

Earlier this year, I gave my first presentation since the pandemic began. I discussed all of the many ways we hurt ourselves financially, specifically, the focus was on the 3 biggest mistakes high net-worth people make. I got lots of good feedback about the presentation, but my favorite note from someone in the room was: “ Thanks for identifying these issues, but how do I navigate them ?

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Taxes Investing Investments 146

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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

Abnormal Returns

OCTOBER 21, 2023

EVs The case for plug-in hybrid vehicles, i.e. PHEVs. (ritholtz.com) Tesla ($TSLA) prices are down some 25% year-over-year. (axios.com) States are taxing EVs to make up for lost gas tax revenue. (washingtonpost.com) Big cities have unique challenging providing EV charging support. (politico.com) How much do EV batteries cost? (visualcapitalist.com) Transport Fatality rates for the youngest drivers have fallen over the past 20 years.

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Insurance Financial Advising Media Transportation 279

Carson Wealth

OCTOBER 23, 2023

A late week sell-off saw stocks barely break their early October lows, with the S&P 500 now down 7.9% from the late-July peak. Although the weakness the past few months hasn’t been fun for investors, it is important to note that stocks are still up more than 10% for the year and a fourth-quarter rally is still expected. October volatility continued, but a major late-October low could be forming.

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A Wealth of Common Sense

OCTOBER 27, 2023

Here’s something Henry Blodget wrote about notorious stock market bear John Hussman: Every historical indicator Hussman is looking at is suggesting that the stock market is wildly overvalued and headed for a period of lousy returns. How lousy? John Hussman thinks there’s a good chance the stock market will soon crash 40-50 percent. And even if the market doesn’t crash, Hussman thinks stocks are priced to.

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Marketing Marketing 138

The Big Picture

OCTOBER 21, 2023

The weekend is here! Pour yourself a mug of pumpkin spiced latte, grab a seat by the window, and get ready for our longer-form weekend reads: • Brazil Is Embracing the Crisis That Everyone Else Wants to Avoid; Offers Venezuelans Jobs in Growing Migrant Crisis : Latin America’s largest economy is linking newcomers with jobs, while its neighbors and the US struggle with a migration surge that shows no signs of slowing. ( Bloomberg ) • After The Human : The increasingly symbiotic relationship betwe

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Numbers Economy 146

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

Numbers

Abnormal Returns

OCTOBER 22, 2023

Bonds The bond market bear market is pretty epic. (mrzepczynski.blogspot.com) Bond bear markets are different then stock bear markets. (disciplinefunds.com) Bonds are increasingly competitive with stocks. (traderfeed.blogspot.com) Equities Stop betting against America. (awealthofcommonsense.com) How time horizon affects the odds of investing in equities.

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Financial Advising Media Economy Taxes 274

Calculated Risk

OCTOBER 26, 2023

From CoreLogic: US Serious Mortgage Delinquency Rate Drops to All-Time Low in August • The share of U.S. borrowers who were in serious mortgage delinquency (90 days or more late on payments) dropped to 0.9% in August, the lowest recorded since January 1999. • The overall national mortgage delinquency rate (30 days or more late) was at 2.6% in August, also a historic low. • The U.S. foreclosure rate held steady at 0.3% in August, unchanged since early 2022. • Only Idaho and Utah saw slight annual

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Marketing Marketing 132

A Wealth of Common Sense

OCTOBER 26, 2023

Further Reading: Do Valuations Even Matter For the Stock Market? 1I would argue real estate would be a close second on this list from an inflation hedge perspective but the long run returns are much harder to calculate when you include things like ancillary costs, mortgage rates, refinancing, leverage, etc. 2And this is real since stocks are a real asset.

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Alpha Architect

OCTOBER 27, 2023

Idiosyncratic volatility (IVOL) is the volatility of a security that cannot be explained by overall market volatility—it is the risk unique to a particular security. IVOL contrasts with systematic risk, which is the risk that affects all securities in a market (such as changes in interest rates or inflation) and, therefore cannot be diversified away.

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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

Abnormal Returns

OCTOBER 25, 2023

Podcasts Peter Lazaroff talks with Hal Hershfield author of "Your Future Self: How to Make Tomorrow Better Today." (peterlazaroff.com) Robin Powell and Abraham Okusanya talk with Victor Haghani co-author of "The Missing Billionaires: A Guide to Better Financial Decisions." (evidenceinvestor.com) Morgan Housel on the flaws that compound over time. (open.spotify.com) Retirement Jim Dahle, "For you to run out of money, two “bad” things have to happen: crummy returns AND a long life.

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The Irrelevant Investor

OCTOBER 27, 2023

You cannot be online and think things are getting better. Let me show you one example. This was on the front page of The Wall Street Journal yesterday. Instead of a headline like “U.S. Economy Grows at Fastest Pace in Two Years,” they wrote: “U.S. Economy’s Summer Surge May Not Last” And below it, “There are warning signs underlying the eye-popping numbers.” Charlie Munger once.

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Economy Numbers 128

Calculated Risk

OCTOBER 25, 2023

The Census Bureau reports New Home Sales in September were at a seasonally adjusted annual rate (SAAR) of 759 thousand. The previous three months were revised down slightly, combined. Sales of new single‐family houses in September 2023 were at a seasonally adjusted annual rate of 759,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

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