Nerd's Eye View

SEPTEMBER 20, 2023

30 years ago, when financial plans relied mainly on constant investment return projections derived from straight-line appreciation and time-value of money calculations, financial advisors began acknowledging and accounting for the variable and uncertain nature of investment returns. And by turning to tools that incorporated historical or Monte Carlo simulations, advisors were able to examine the potential impact of sequence-of-return risk on an investor's portfolio, modeling those risks across h

Retirement 224

Retirement Planning Financial Planning Risk Tolerance 224

The Big Picture

SEPTEMBER 22, 2023

The September Federal Reserve meeting is behind us we still have November and December ahead of us. Markets are nervous expecting another hike before years over before two cuts in 2024. My advice: ignore those expectations as they have been wildly inaccurate over the past few years; they have been mostly inaccurate over the past decade. When it comes to forecasting economic outcomes, the Fed is no better or worse than anybody else.

Economics 325

Economics Financial Market Marketing Marketing 325

The Reformed Broker

SEPTEMBER 22, 2023

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jeremy Grantham, and Downtown Josh Brown discuss being the “Bubble Historian”, Inflation, Modern Valuations, the Four most Dangerous Words, Real Estate, Impact Investing, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

Valuation 306

Valuation Investing Investments Marketing 306

Abnormal Returns

SEPTEMBER 21, 2023

Markets The credit markets are very different than they were in 2009. (semafor.com) Despite a slowdown, the warehouse industry is raising rents. (wsj.com) IPOs Shopify ($SHOP) is a winner in the Klayvio ($KVYO) IPO. (theinformation.com) Is the IPO window really that open? (ft.com) Books A review of "The Missing Billionaires: A Guide to Better Financial Decisions" by Victor Haghani and James White.

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Financial Advising Media Economy Numbers 293

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Accounting

Nerd's Eye View

SEPTEMBER 18, 2023

When an advisor runs their own solo advisory firm, their capacity to meet with current and prospective clients is limited to the extent that they are also responsible for all of the non-client-facing tasks of running their firm. Which may not be a serious limitation when they are just starting out and don’t have a lot of clients to serve, but as the firm grows, they will eventually run out of time available for working with clients – at which point, it becomes necessary to decide whe

Financial Planner 240

Financial Planner Clients Planning Financial Planning 240

The Big Picture

SEPTEMBER 16, 2023

This week, we speak with Elizabeth Burton , managing director and client investment strategist at Goldman Sachs Asset Management. She advises institutional clients on investment strategies and portfolio objectives, working alongside global client advisers and product strategists across public and private markets. Previously, she was CIO at the Employees’ Retirement System of the State of Hawaii, and managing director in the quantitative strategies group at the Maryland State Retirement Age

Assets 307

Assets Management Asset Allocation Risk Management 307

Abnormal Returns

SEPTEMBER 17, 2023

Also on the site The question with emerging market equities is if, not when. (abnormalreturns.com) The return on hassle is a real thing. (abnormalreturns.com) Top clicks this week TIPS are on sale. (morningstar.com) Bull markets have four distinct stages. (ritholtz.com) The rise in real interest rates is stunning. (econbrowser.com) How retirement can open you up to new possibilities.

Math 293

Math Retirement Sales Marketing 293

Nerd's Eye View

SEPTEMBER 20, 2023

30 years ago, when financial plans relied mainly on constant investment return projections derived from straight-line appreciation and time-value of money calculations, financial advisors began acknowledging and accounting for the variable and uncertain nature of investment returns. And by turning to tools that incorporated historical or Monte Carlo simulations, advisors were able to examine the potential impact of sequence-of-return risk on an investor's portfolio, modeling those risks across h

Financial Planning 232

Financial Planning Risk Tolerance Retirement Planning Planning 232

The Big Picture

SEPTEMBER 21, 2023

My morning train WFH reads: • Peek Inside America’s Largest Privately Owned Company : Cargill’s business model has worked for 158 years. Follow the money and you’ll see it ain’t broken yet. ( Bloomberg ) • Indexing Is Still the Best Bet for Investors : History shows that even in ‘narrow’ markets, actively managed funds don’t do as well over the long term. ( Wall Street Journal ) see also You Might Be Paying Too Much for That Index Fund : Push toward zero-cost ETFs nears the finish line. ( Wall S

Sales 265

Sales Retail Management Assets 265

The Reformed Broker

SEPTEMBER 16, 2023

We had Rob Arnott on The Compound and Friends this week live at Future Proof! We discussed lessons from the tech bubble, smart beta, big tech valuations, Tesla and Nvidia, how AI might impact markets and the economy, and much more! You can watch the new TCAF below or listen as a podcast. Podcast version: And if you haven’t subscribed yet, don’t wait.

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Valuation Economy Marketing Marketing 177

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

Assets

Abnormal Returns

SEPTEMBER 19, 2023

Trend following Trend following ignore narratives. (mrzepczynski.blogspot.com) How trend following can help diversify a portfolio. (priceactionlab.com) ESG Green investing strategies should be lower risk. (alphaarchitect.com) ESG leaders have been outperforming the market. (bloomberg.com) Behavior How scarcity affects decision making. (sciencedaily.com) The marshmallow effect and investment performance.

Banking 284

Banking Portfolio Investing Investments 284

Nerd's Eye View

SEPTEMBER 21, 2023

Regardless of the size of a financial advisory firm, clients are a constant necessity to sustain a profitable business. And while some form of advertising is how firms have traditionally attracted clients, some advisors have asked if not actively marketing themselves can be a viable option, where new clients find their way to the advisor through a referral network who vouches for the good service they provide.

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Advertising Clients Communication Financial Advisor 224

The Big Picture

SEPTEMBER 20, 2023

With 10 days left in the Third Quarter, it seems that lots of folks have been obsessing about the various GDP Now forecasts. The thinking is the data will impact how the FOMC will determine whether we get more rate increases or if it’s higher for longer , or even potentially reflecting a 2024 recession and Fed rate cuts. Now Casting was first developed by the Federal Reserve Bank of Atlanta to provide a real-time estimate of GDP growth for the current quarter.

Banking 148

Banking Economics Retail Economy 148

The Reformed Broker

SEPTEMBER 19, 2023

Amazon doesn’t need the hype of AI for its stock to trade higher, says Ritholtz’s Josh Brown from CNBC Fed kicks off 2-day meeting: What investors should expect from CNBC Intel core processors expected to bring AI to PCs by December 14 from CNBC Final Trades: Uber, Cisco & more from CNBC

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Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Management

Abnormal Returns

SEPTEMBER 17, 2023

Finance Goldman Sachs ($GS) want to sell HNW clients a piece of a sports franchise. (frontofficesports.com) Why seed stage valuations haven't dropped as much as you would think. (hunterwalk.com) Fund management How securities lending works. (morningstar.com) A new ETF looks to generate income from selling daily options. (reuters.com) Apple Insights from this week's big Apple event.

Financial Advising 283

Financial Advising Valuation Economy Economics 283

Nerd's Eye View

SEPTEMBER 22, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Investment Adviser Association has petitioned the SEC to ask the regulator to change how it defines a small adviser from one with less than $25 million under management to a firm with 100 or fewer employees. The group argued that this change would help more small firms, which tend not to have the same staffing and resources compared to their larger counterparts, as the

Financial Planner 218

Financial Planner Clients Taxes Numbers 218

The Big Picture

SEPTEMBER 19, 2023

The transcript from this week’s, MiB: Elizabeth Burton, Goldman Sachs Asset Management , is below. You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Google , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ Barry Ritholtz : This week on the podcast, I have an extra special guest.

Assets 148

Assets Management Investing Investments 148

The Reformed Broker

SEPTEMBER 19, 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: ►Where’s the Recession? – Biggest mystery on Wall Street. ►Oil Prices – “Surging oil prices could sour soft landing hopes, but it won’t spark a crisis like the 1970s” ►Earnings, Bef.

Investing 161

Investing Investments Marketing Marketing 161

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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

Abnormal Returns

SEPTEMBER 20, 2023

Home ownership How to make the math behind home ownership work (or not). (morningstar.com) What happened in 1990 to drive real housing prices higher? (awealthofcommonsense.com) Some 40% of under-30-year-old home buyers get help from their family. (redfin.com) Investing Jeffrey K. Actor, "It’s incredibly easy to underperform by chasing dreams." (humbledollar.com) Trying to make up for past investing mistakes by taking on more risk is dangerous.

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Math Taxes Portfolio Investing 274

Nerd's Eye View

SEPTEMBER 19, 2023

Welcome back to the 351st episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jessica Polito. Jessica is the Founder and Principal for Turkey Hill Management, a mergers & acquisitions consulting firm that assists financial advisors with the sale, acquisition, integration, or merger of their firms. What's unique about Jessica, though, is how she has built a practice helping financial advisors and their firms navigate the intricacies of buying, selling, or merging

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Financial Advisor Fee Only Sales Wealth Management 172

A Wealth of Common Sense

SEPTEMBER 22, 2023

Kerala is a coastal state in India with a large fishing industry. Beginning in 1997, mobile phones were introduced to the region. By 2001 more than 60% of the fishers and traders were using phones to coordinate sales and set prices for the fish. Robert Jensen used data from this market in a research paper called The Digital Provide to show how the addition of more information impacted fish prices in the marketplace.

Sales 140

Sales Marketing Marketing 140

Wealth Management

SEPTEMBER 18, 2023

The South and Midwest dominate the top of the rankings.

Retirement 131

Retirement 131

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

SEPTEMBER 22, 2023

Rates Higher for longer, is the consensus. (wsj.com) Not surprisingly, 30-year mortgage rates are at 23-year highs. (mortgagenewsdaily.com) Who is buying Treasuries at these yields? (ft.com) Bond investors are being given an opportunity to lock in 2% real yields. (capitalspectator.com) Dumb Money There are no heroes in 'Dumb Money.' (morningstar.com) The so-called bad guys in 'Dumb Money' are stronger than ever.

Financial Advising 261

Financial Advising Startup Economy Media 261

The Big Picture

SEPTEMBER 22, 2023

My end-of-week morning train WFH reads: • The scientific reason why you can’t stop going to Disneyland : To say a lot of people flock to Disneyland and Walt Disney World doesn’t do the mass migration justice. Each year, people descend upon the parks by the tens of millions, and many of them don’t fund the increasingly expensive experience by using their savings alone.

Medical 130

Medical Management Economy Economics 130

A Wealth of Common Sense

SEPTEMBER 17, 2023

The Federal Reserve has tracked household balance sheet data going back to 1952. Each quarter they provide details on total financial assets and liabilities for households and nonprofit organizations. This data doesn’t tell us where the economy is heading but it can help understand how Americans are generally positioned for whatever happens next.

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Nonprofit Economy Assets 138

Wealth Management

SEPTEMBER 20, 2023

To an outsider, advisor Cary Carbonaro looked like a strong, successful woman. But behind closed doors, she faced physical, mental and verbal abuse on a daily basis in a toxic relationship.

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Planning

Abnormal Returns

SEPTEMBER 21, 2023

Books Annie Duke talks with Elizabeth Zalman and Jerry Neumann co-authors of "Founder vs. Investor: The Honest Truth About Venture Capital from Startup to IPO." (annieduke.substack.com) Five insights from An except from “Build the Life You Want: The Art and Science of Getting Happier” by Arthur C. Brooks and Oprah Winfrey. (nextbigideaclub.com) An excerpt from Devorah Heitner’s new book, "Growing Up in Public: Coming of Age in a Digital World.

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Startup Consulting Media Planning 261

Trade Brains

SEPTEMBER 17, 2023

Top Indian Stocks Held By Goldman Sachs : Goldman Sachs has been serving clients in India since the 1980s and established an onshore presence in Bengaluru, in 2004, Mumbai, India in December 2006 and a new office in Hyderabad opened in 2021 following a ten-year joint venture. Today, Goldman employs 9000+ Indians and serves leading corporate and institutional clients through corporate finance advisory, equity sales and trading, and fixed-income securities businesses, as well as providing macro-e

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Portfolio Analysis Portfolio Manufacturing Insurance 130

A Wealth of Common Sense

SEPTEMBER 19, 2023

There are a lot of factors that drive the performance of financial markets over time. Fundamentals like valuations, economic growth, earnings and dividends are the main drivers of returns over the long run. Plus you have to consider demographics, productivity and innovation. And the hardest variable to quantify will always be psychology. No one can predict how people are going to feel in the future.

Accounting 131

Accounting Retirement Marketing Marketing 131

The Big Picture

SEPTEMBER 18, 2023

My morning train WFH reads: • A 3% Mortgage Rate in a 7% World? This Startup Says It Can Do That : Loan assumptions, which let a home buyer essentially take over a seller’s mortgage, are hard to find and hard to pull off. ( Wall Street Journal ) • Why the UAW Strike Isn’t the Biggest Problem for Ford and GM : The labor action highlights the biggest issue: Can the auto makers afford to spend what it takes to thrive in the new world of EVs?

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Startup Government Retirement Investing 130

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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