Abnormal Returns
MAY 29, 2024
Nvidia It's hard to overstate just how big a rally Nvidia ($NVDA) has seen. (downtownjoshbrown.com) Then again, few large companies have grown this fast. (theirrelevantinvestor.com) AI A look at the AI tech stacks for various players in the industry. (stratechery.com) Why Zuck and Meta ($META) have embraced an open AI standard. (nytimes.com) AI spending is going to grow as more countries jump into the game.
Nerd's Eye View
MAY 29, 2024
Small business owners often treat their businesses not only as their source of income during their working years, but also as an asset that can be sold to fund their retirement. And while many businesses can build up substantial value over the years, the downside is that, when that value is realized upon the sale of the business, a large amount of it is treated as taxable income.
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The Big Picture
MAY 31, 2024
This week, we speak with Jeffrey Sherman , deputy chief investment officer at DoubleLine Capital. Sherman oversees and administers DoubleLine’s investment management subcommittee; serves as lead portfolio manager for multisector and derivative-based strategies; and is a member of the firm’s executive management and fixed-income asset allocation committees.
Alpha Architect
MAY 31, 2024
There is strong empirical evidence demonstrating that momentum (both cross-sectional and time-series) provides information on the cross-section of returns of many risk assets and has generated alpha relative to existing asset pricing models. Ma, Yang, and Ye’s findings provide another test of both robustness and pervasiveness, increasing our confidence that the findings of momentum in asset prices are not a result of data mining.
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.
Abnormal Returns
MAY 29, 2024
Podcasts Barry Ritholtz talks with Carl Richards about the behavior gap and how to avoid it. (ritholtz.com) Shane Parrish talks with Morgan Housel author of "Same as Ever: A Guide to What Never Changes." (youtube.com) Amy Arnott and Christine Benz talk with Jamila Souffrant author of "Your Journey to Financial Freedom: A Step-by-Step Guide to Achieving Wealth and Happiness.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Big Picture
MAY 26, 2024
Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • Realtors Are in Crisis—and Home Buyers Could Be the Winners : A wave of lawsuits over fees paid to agents has put the giant trade association on the defense; ‘it got arrogant’ ( Wall Street Journal ) see also Powerful Realtor Group Agrees to Slash Commissions to Settle Lawsuits : The National Association of Realtors will pay $418 million in damages and will amend several rules that housing experts say wil
Advisor Perspectives
MAY 31, 2024
The latest Chicago Purchasing Manager's Index (Chicago Business Barometer) fell to 35.4 in May from 37.9 in April. This is the sixth straight monthly decline and the lowest level for the index since May 2020. The latest reading is worse than the 41.1 forecast and keeps the index in contraction territory for a sixth consecutive month.
Abnormal Returns
MAY 28, 2024
Research Average performance can obscure some bad outcomes. (portfoliocharts.com) No matter where you look, momentum shows up. (alphaarchitect.com) Why don't more investors use equal-weighted indices? (mrzepczynski.blogspot.com) How LLMs can be used to do security analysis. (papers.ssrn.com) Hedge funds outperform when markets are expensive. (mrzepczynski.blogspot.com) How fund flows can cause an unsustainable feedback loop.
Nerd's Eye View
MAY 31, 2024
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the Financial Planning Association and Money.com are planning to publish a “Best Financial Advisors” list based on advisors’ education, credentials, and experience, as well as harder-to-quantify areas such as trust factors and client communication.
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.
Calculated Risk
MAY 29, 2024
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 5.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 24, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.7 percent on a seasonally adjusted basis from one week earlier.
A Wealth of Common Sense
MAY 31, 2024
It’s estimated just 1% to 3% of American households owned stocks heading into the Great Depression. Few people made enough money to save and invest back then plus it was difficult to access the market for regular people — no 401ks, IRAs, online brokers, robo-adviors, index funds, ETFs, Robinhood, etc. By the early-1980s stock ownership was more like 1 in 5 households.
Abnormal Returns
MAY 31, 2024
Markets There is still more than $6 trillion in money market funds. (apolloacademy.com) Is Japan's stock market finally ready for prime time? (on.ft.com) Strategy We should judge systems by their outcomes, not by their aims. (anildash.com) Good investing advice is timeless. (blogs.cfainstitute.org) Finance Private equity is not recycling capital very quickly.
Nerd's Eye View
MAY 28, 2024
Welcome everyone! Welcome to the 387th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jenny Martella. Jenny is a Principal and Wealth Manager at Modera Wealth Management, an RIA based in Westwood, New Jersey, that oversees $12.5 billion in assets under management for approximately 4,700 client households. What's unique about Jenny, though, is how she and her previous business partner were so successful in the early years of growing their advisory firm, that the
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Calculated Risk
MAY 31, 2024
Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through April 2024. CPI Shelter was up 5.5% year-over-year in April, down from 5.6% in March, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 5.6% YoY in April , down from 5.8% in March, and down from the cycle peak of 8.3% in April 2023.
Advisor Perspectives
MAY 30, 2024
The U.S. economy grew at a slower than expected pace to start off the year. Real gross domestic product increased at an annual rate of 1.3% in Q1 2024, according to the second estimate. The latest estimate is lower than the forecasted 1.6% growth and is a slowdown from the Q4 2023 GDP final estimate of 3.4%.
Abnormal Returns
MAY 30, 2024
Markets Trading in Nvidia ($NVDA) shares dwarf other large companies. (sherwood.news) The 0DTE market just keeps growing. (ft.com) Strategy How much to allocate to private equity, if you must. (morningstar.com) Pay less attention to your investments. (timharford.com) Crypto Gemini customers are finally going to start getting their money back. (cnbc.com) Signs that a Mt.
Nerd's Eye View
MAY 28, 2024
Welcome everyone! Welcome to the 387th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jenny Martella. Jenny is a Principal and Wealth Manager at Modera Wealth Management, an RIA based in Westwood, New Jersey, that oversees $12.5 billion in assets under management for approximately 4,700 client households. What's unique about Jenny, though, is how she and her previous business partner were so successful in the early years of growing their advisory firm, that the
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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.
Calculated Risk
MAY 30, 2024
The DOL reported : In the week ending May 25, the advance figure for seasonally adjusted initial claims was 219,000 , an increase of 3,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 215,000 to 216,000. The 4-week moving average was 222,500, an increase of 2,500 from the previous week's revised average.
Wealth Management
MAY 31, 2024
After Washington, Missouri is the second known state to send warning letters to advisors over the use of wealthtech tools that can access data in client retirement and banking accounts.
Abnormal Returns
MAY 26, 2024
Mentions Sam Ro's favorite free finance newsletters. (tker.co) The 18 best investing blogs of 2024. (thecollegeinvestor.com) Top clicks this week The 18 best investing blogs of 2024. (thecollegeinvestor.com) 11 investing principles from Bill Miller including how to avoid value traps. (investmenttalk.co) Sam Ro's favorite free finance newsletters. (tker.co) Why don't more people engage in probabilistic thinking?
Nerd's Eye View
MAY 30, 2024
Over the past couple of decades, the financial advice industry has seen a tremendous shift as the focus has evolved away from being primarily transaction-based and towards forming long-term service-based relationships with clients. Yet, one of the hurdles advicers have faced along the way is figuring out how to demonstrate the seemingly intangible value of financial planning as a service.
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
Calculated Risk
MAY 29, 2024
The FDIC released the Quarterly Banking Profile for Q1 2024: Reports from 4,568 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) report aggregate net income of $64.2 billion in first quarter 2024, an increase of $28.4 billion (79.5 percent) from the prior quarter. A large decline in noninterest expense because of several substantial, non-recurring items recognized by large banks in the prior quarter, as well as higher noninterest income and lo
Wealth Management
MAY 29, 2024
FSI Wealth Management, a San Diego, Calif.-based team with $215 million in assets, is joining LPL from Securities America, in the wake of Osaic's integration and rebranding efforts.
Abnormal Returns
MAY 25, 2024
Autos How thieves exploit loopholes to steal keyless cars. (fastcompany.com) This police department has gone electric with Tesla ($TSLA) Model Ys. (thecooldown.com) Your next Airbnb may have a charging station. (fastcompany.com) Used cars The safest used cars for teenagers. (axios.com) How to not get screwed buying a used car. (kottke.org) Roads Congestion pricing is coming to Manhattan.
A Wealth of Common Sense
MAY 29, 2024
Inflation and wages are kind of a chicken or egg issue. Do higher prices cause higher wages or do higher wages cause higher prices? I suppose it’s probably a little of both. There is an obvious relationship when you look at the data. Here’s a look at year-over-year wage growth versus trailing twelve-month inflation going back to 1965: Wages grow faster than prices most of the time, but not always.
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.
Calculated Risk
MAY 28, 2024
Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 6.5% year-over-year in March; FHFA: House Prices Increased 0.1% in March, up 6.6% YoY Excerpt: S&P/Case-Shiller released the monthly Home Price Indices for March ("March" is a 3-month average of January, February and March closing prices). March closing prices include some contracts signed in November, so there is a significant lag to this data.
Wealth Management
MAY 28, 2024
The American Council of Life Insurers, the Insured Retirement Institute and Finseca are among the plaintiffs in the newest suit against the Labor Department’s rule. This is the second suit filed against the rule in Texas this month.
Abnormal Returns
MAY 28, 2024
Strategy Wealthy Americans invest a lot in alternatives, but that doesn't mean you need to. (ofdollarsanddata.com) The case against concentrated funds. (behaviouralinvestment.com) Finance T+1 is here. (finance.yahoo.com) London wants to regain its spot atop the finance game. (nytimes.com) How the PE slowdown affects investors downstream. (ft.com) Companies Apple and Amazon have both missed an opportunity in AI.
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