Advisor Perspectives
AUGUST 14, 2023
When adjusting for more realistic assumptions and considering the fact that the insurance company can change return caps and that inflation is both an unknown and deep risk, an FIA, along with most annuities, is not on the efficient frontier in either accumulation or decumulation phases.
Abnormal Returns
AUGUST 17, 2023
Rates Mortgage rates are at levels not seen since 2001. (axios.com) Global government bond yields are at 15-year highs. (finance.yahoo.com) Markets Valuations don't matter in the short term. (theirrelevantinvestor.com) Forecasting is hard, the GMO edition. (ft.com) Companies Verily is setting the stage for a spinoff from Alphabet ($GOOGL). (theinformation.com) The city of San Francisco is struggling.
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The Big Picture
AUGUST 18, 2023
I have a new column out in Businessweek , just in time for the Federal Reserve meeting in Jackson Hole. It is a congratulatory open letter to Federal Reserve Chairman Jerome Powell and the rest of the Fed on beating inflation: Dear Jay, Mazel tov! You beat inflation and avoided a recession. Revel in the sweet taste of victory as you fly-fish with other central bankers at the annual symposium in Jackson Hole, Wyoming.
Nerd's Eye View
AUGUST 15, 2023
Welcome back to the 346th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jim Ludwick. Jim is the founder of MainStreet Financial Planning, an hourly, fee-only financial planning firm, and also created Procrastination Junction, a coaching program for fee-only financial advisors looking to improve their sales skills.
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.
The Reformed Broker
AUGUST 18, 2023
Barry’s new piece for Bloomberg is really good. I had a good laugh at this section: Inflation Expectations Surveys Are Useless The world is more complex, random and global than ever before. Multiplying unknowns have made economic forecasting even more difficult. But for hilariously wrong predictions, nothing beats surveying random people about where they think inflation will be in five years.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Big Picture
AUGUST 14, 2023
Previously : Nobody Knows Nuthin’ (May 5, 2016) Can Anyone Catch Nokia? (October 26, 2022) Why the Apple Store Will Fail (May 20, 2021) “No matter how you cut it, you’ve got to own Cisco” -2000 (May 15, 2023) Nobody Knows Anything, 2023 First Half Edition (June 30, 2023) Nobody Knows Anything (Collection) The post Nobody Knows Anything, Calvin & Hobbes edition appeared first on The Big Picture.
Nerd's Eye View
AUGUST 18, 2023
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent study has found that consumers are increasingly likely to spread their portfolios across a range of asset managers, and that this trend is particularly pronounced amongst more affluent clients (e.g., millionaires), suggesting that advisors who believe they hold "everything" their clients have may actually have less than they realize.
The Reformed Broker
AUGUST 18, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Eric Balchunas, Jeremy Schwartz, and Downtown Josh Brown discuss the magnificent seven, the bond market, defined outcome ETFs, inflation, the spot bitcoin ETF saga, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
Abnormal Returns
AUGUST 13, 2023
Top clicks this week The equity risk premium in the U.S. keeps falling. (economist.com) Five common personal finance lessons that are wrong. (genyplanning.com) Why are market cap weighted indices hard to beat for managers? (behaviouralinvestment.com) When do dividend-focused strategies outperform? (morningstar.com) Every investment strategy has multiple 'points of failure.
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.
The Big Picture
AUGUST 12, 2023
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • How bonds ate the entire financial system : A very short, very wild history of the market that will shape the next financial crisis. ( Financial Times ) • The demonisation of BlackRock’s Larry Fink : All he wanted to do was save the planet while making his firm a fortune.
Nerd's Eye View
AUGUST 16, 2023
Financial advisors create value for clients not only by giving good advice, but also by ensuring that the advice they give is actually implemented. After all, financial planning is worth a lot more to clients when they act on the advisor's recommendations (and realize the projected outcomes), in contrast to the advisor simply handing clients "The Plan" that is never actually implemented.
The Reformed Broker
AUGUST 15, 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: ►Retail Earnings – Consumers are still spending. ►Stock Picker’s Delight – Sector correlation and valuation disparities are providing value opportunities.
Abnormal Returns
AUGUST 14, 2023
Podcasts Michael Kitces talks with Lori Van Dusen, who is the CEO of LVW Advisors, about working with UHNW families. (kitces.com) Brendan Frazier talks about how to send a great prospect follow-up e-mail. (wiredplanning.com) Dan Haylett talks funded contentment with Brian Portnoy of Shaping Wealth. (humansvsretirement.com) Corey Hoffstein talks with Martin Tarlie, a Portfolio Manager at GMO, about bridging the gap between financial planning and portfolio management.
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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.
The Big Picture
AUGUST 12, 2023
This week, we speak with asset management expert Ted Seides , founder of Capital Allocators. His most recent book is “ Capital Allocators: How the world’s elite money managers lead and invest ;” he is also the host of the popular “ Capital Allocators” podcast , which reached 16 million downloads in June. Seides is a CFA charterholder and has an MBA from Harvard Business School.
Nerd's Eye View
AUGUST 14, 2023
When a financial advisor first opens their own firm, they often start with few (or no) clients and little revenue. And while they might have an ideal target client in mind, it can be tempting to bring on any client who can pay the advisor’s fee so that the advisor can simply ‘keep the lights on’ But as the firm grows, these initial clients might not generate as much revenue as the firm’s newer clients, perhaps because they were grandfathered into a lower annual fee schedu
The Reformed Broker
AUGUST 15, 2023
China’s stimulus actions are not enough, says Ritholtz Wealth’s Josh Brown from CNBC Bank of America downgrades Valero and four other refiners from CNBC Final Trades: Fortinet & Marriot from CNBC
Abnormal Returns
AUGUST 18, 2023
Strategy Even if you have the news, doesn't mean you can predict the market's reaction. (theirrelevantinvestor.com) Don't confuse cash and bonds. (monevator.com) Startups Instacart could go public as early as next month. (finance.yahoo.com) SpaceX now reportedly running around breakeven. (wsj.com) Streaming Cable and broadcast are now less than 50% of viewing.
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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.
The Big Picture
AUGUST 17, 2023
There is a particular type of analysis I keep seeing that can mislead investors. It’s an important, single data point, but one that is lacking in context. This seems to be an oversimplification that many investors have as their default setting. It’s like a bad syllogism : Observe a Single Data Point; Reach a broad conclusion about it; Express this in a trade or investment idea The problem with any single data point is that the real world is complicated, messy, and filled with randomness an
Nerd's Eye View
AUGUST 14, 2023
When a financial advisor first opens their own firm, they often start with few (or no) clients and little revenue. And while they might have an ideal target client in mind, it can be tempting to bring on any client who can pay the advisor’s fee so that the advisor can simply ‘keep the lights on’ But as the firm grows, these initial clients might not generate as much revenue as the firm’s newer clients, perhaps because they were grandfathered into a lower annual fee schedu
The Reformed Broker
AUGUST 17, 2023
Final Trades: Apple, 3M & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
Abnormal Returns
AUGUST 14, 2023
Strategy Energy stocks have stopped going down. (allstarcharts.com) Don't fall in love with a stock. (financialducksinarow.com) Crypto How much Bitcoin would spot ETFs hold? (bloomberg.com) Coindesk has laid off editorial staff. (theblock.co) Finance The private credit business is booming. (axios.com) Small banks are less exposed to commercial real estate loans than commonly thought.
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
Good Financial Cents
AUGUST 14, 2023
From its humble beginnings in 2008 to today, Bitcoin’s history has been relatively short but very eventful. The original protocol for this popular digital currency was created in 2008 by Satoshi Nakamoto , believed to be a pseudonym for an unknown developer or group of developers. Nakamoto launched the Bitcoin network just a year later and began mining the currency— an estimated 1 million bitcoins were mined in the early years.
Integrity Financial Planning
AUGUST 18, 2023
Organizing a successful cookout can be a fun but challenging task. Here’s some great advice to ensure your event runs smoothly and is a hit with your guests. Preparation is Key Firstly, make sure you put in the effort to prepare. Decide on the menu ahead of time and ensure you have all the necessary ingredients. Choose simple yet delicious recipes that can cater to various dietary preferences.
Alpha Architect
AUGUST 18, 2023
It is important to diversify the risks of private equity. This is best achieved by investing indirectly through a private equity fund rather than through direct investments in individual companies. Because most such funds typically limit their investments to a relatively small number, it is also prudent to diversify by investing in more than one fund.
Abnormal Returns
AUGUST 15, 2023
Rates Rising bond yields continue to boost future returns. (awealthofcommonsense.com) Companies are not betting on lower rates any time soon. (ft.com) How higher interest rates are going to pinch corporate profits. (klementoninvesting.substack.com) Finance Blackstone ($BX) is not backing away from the growth equity business. (bloomberg.com) Is there a structural imbalance in the secondary market for private equity fund stakes?
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.
Trade Brains
AUGUST 17, 2023
Fundamental Analysis of Elecon Engineering Company: The stock of Elecon Engineering Company has generated a whopping return of 1,000% in the last five years for its investors. With the CAPEX cycle underway and the government’s huge budget outlay and ‘Make in India’ initiative, the investors are still bullish on this industrial equipment manufacturer.
Wealth Management
AUGUST 17, 2023
Norway’s sovereign wealth fund said it remains committed to commercial real estate investment, reported Bloomberg. Crain’s New York Business looked at a new bill under consideration in New York state that would make it easier to determine the owners behind LLCs. These are among the must reads from around the real estate investment world to end the week.
Calculated Risk
AUGUST 18, 2023
Today, in the Calculated Risk Real Estate Newsletter: Lawler: Is The “Natural” Rate of Interest Back to Pre-Financial Crisis Levels? A brief excerpt: Here is a graph showing the HLW and LM estimates of r-star from 1990 through the first quarter of 2023. Note that both of these estimates show a sharp decline in r-star right around the same time as the beginning of the financial crisis that led to the worst recession since the Great Depression.
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