Wealth Management
DECEMBER 19, 2023
This approach allows an advisor to focus on what matters most to each client, adding more value to their services and growing client relationships.
The Big Picture
DECEMBER 21, 2023
At the Money: Seasonality In Stocks with Jeff Hirsch of the Stock Trader’s Almanac. (Dec 20, 2023) How do historical patterns and seasonality affect equities? Can these patterns successfully inform future investments? In this episode, I speak with Jeff Hirsch of the Stock Trader’s Almanac to discuss seasonal patterns in equities. He’s devoted much of his career to the study of historical patterns and market seasonality in conjunction with fundamental and technical analysis.
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Abnormal Returns
DECEMBER 21, 2023
Markets Small cap stocks still look cheap relative to large caps. (morningstar.com) What do you get when you combine momentum and quality? (downtownjoshbrown.com) Finance Citigroup ($C) is now getting out of the distressed debt trading business. (finance.yahoo.com) Banks are clawing to hold onto a chunk of the leveraged lending market. (bloomberg.com) Sweden's stock market may cut back their trading hours.
Nerd's Eye View
DECEMBER 18, 2023
As 2023 comes to a close, I am once again so thankful to all of you, the ever-growing number of readers who continue to regularly visit this Nerd's Eye View Blog (and share the content with your friends and colleagues, which we greatly appreciate!). We recognize (and appreciate!) that this blog – its articles and podcasts – is a regular habit for tens of thousands of advisors, but that not everyone has the time or opportunity to read every blog post or listen to every podcast that is
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.
A Wealth of Common Sense
DECEMBER 17, 2023
After suffering drawdowns of 21%, 25% and 35% in the bear market of 2022, the Dow, S&P 500 and Nasdaq 100 all broke even on a total return basis this week: Sure that means these markets went nowhere for nearly two years but just look at the returns since the start of 2020: Considering everything we’ve lived through those returns are not bad at all.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
DECEMBER 19, 2023
Factors Timing returns factors is tempting, but difficult in practice. (alphaarchitect.com) The high quality anomaly shows up across asset classes. (advisorperspectives.com) A history of quant investing and the state of the factor zoo. (on.ft.com) Corporate finance Stock-based compensation makes a big difference for company valuations. (tdmgrowthpartners.com) Profit margins are high, debt refinancings are coming.
Nerd's Eye View
DECEMBER 20, 2023
After a financial advisor and their client have agreed on a financial plan, there are usually a lot of good feelings going around. The causes of the client's worries have been identified, there's agreement on the steps that will get the client to where they want to be, and all that's left is to take action to implement the plan. But while it seems like the momentum of the earlier steps of the planning process should carry through into the implementation stage, all too often, the opposite occurs:
Calculated Risk
DECEMBER 22, 2023
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 November 2023. CPI Shelter was up 6.5% year-over-year in November, down from 6.7% in October, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 6.7% YoY in November , down from 6.9% in October, and down from the cycle peak of 8.3% in April 2023.
The Big Picture
DECEMBER 16, 2023
This week, we speak with Michael Rockefeller , Co-Chief Investment Officer and co-founder of Woodline Partners. The firm launched in 2019 with around $2 billion in initial assets, and became one of the fastest-growing emerging funds over the past few years. They now manage $7 billion in assets. The hedge fund implements a market-neutral equity strategy, focused on generating “idiosyncratic alpha” and “avoiding systemic risk factors.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Abnormal Returns
DECEMBER 22, 2023
Markets Just how bad was the 2022-23 bond drawdown? This bad. (ft.com) Why you should look at returns from 2022-23 as a whole. (priceactionlab.com) Streaming Lionsgate ($LGF.A) is splitting Starz from its studio business. (axios.com) What would a Warner Bros. Discovery ($WBD) and Paramount ($PARA) merger mean for consumers? (theverge.com) Seven lessons learned from Netflix's ($NFLX) viewership data, including the staying power of 'Gilmore Girls.
Nerd's Eye View
DECEMBER 19, 2023
Welcome everyone! Welcome to the 364th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Ted Jenkin. Ted is the founder of JTPD Partners, a consulting firm based in Atlanta, Georgia, that helps financial advisors gather offers, negotiate, and ultimately sell their advisory firms. What's unique about Ted, though, is how his journey to facilitate financial advisor mergers and acquisitions started from selling his own $2.2-billion AUM advisory firm that he spent more
Alpha Architect
DECEMBER 22, 2023
Option returns display momentum, meaning that firms whose options performed well in the previous 6 to 36 months are likely to see high option returns in the next month as well. Momentum Everywhere, Including Equity Options was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
The Big Picture
DECEMBER 19, 2023
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 not an official transcript. 00:00:00 [Speaker Changed] This is Masters in business with Barry Ritholtz on Bloomberg Radio. 00:00:07 [Barry Ritholtz] This week on the podcast I have an extra special guest.
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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.
Abnormal Returns
DECEMBER 20, 2023
Podcasts Barry Ritholtz talks with Dave Nadig about the differences between mutual funds and ETFs. (ritholtz.com) Preet Bharara talks with Morgan Housel author of "Same as Ever: A Guide to What Never Changes." (cafe.com) Jim Dahle talks charitable giving with Adam Nash, CEO and co-founder of Daffy. (whitecoatinvestor.com) Khe Hy talks with Joe Hudson about why we worry about money.
A Wealth of Common Sense
DECEMBER 19, 2023
The Nasdaq 100 is up more than 50% this year. The tech-heavy index is on pace for its first half-century performance since 2009. The Magnificent 7 stocks are a big reason for this year’s massive gains but it also helps that the Nasdaq crashed last year, falling more than 32%. In fact, if you look at the total returns since the start of 2022, it’s only slightly positive: It’s also true that large gains.
Wealth Management
DECEMBER 22, 2023
Industry experts point to continued proliferation of AI, tech stack integration, software supporting new fee models and advisors using an increasingly diverse array of applications to offer additional services as storylines to look out for in the coming year.
Calculated Risk
DECEMBER 20, 2023
Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Increased to 3.82 million SAAR in November Excerpt: Sales Year-over-Year and Not Seasonally Adjusted (NSA) The fourth graph shows existing home sales by month for 2022 and 2023. Sales declined 7.3% year-over-year compared to November 2022. This was the twenty-seventh consecutive month with sales down year-over-year.
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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.
Abnormal Returns
DECEMBER 18, 2023
Podcasts Daniel Crosby talks wealth confidence with Anthony Damtsis who is Deputy Head of Behavioral Finance at TD Wealth. (standarddeviationspod.com) Thomas Kopelman talks planning for people planning to move outside the U.S. with Jack Thomas. (podcasts.apple.com) The biz What is the endgame for Betterment? (citywire.com) After some false starts, Apex Fintech, the clearing firm, filed for an IPO.
A Wealth of Common Sense
DECEMBER 22, 2023
There are Twitter accounts that spend their time lamenting why we don’t build cathedrals, castles and architecture like they did in the past. I get it. I’ve been to Europe before. The castles, the churches, the opera houses, the landmarks, the art, etc. It’s mind-boggling people were able to build these things without the technology we have available today.
Wealth Management
DECEMBER 21, 2023
These nine episodes provide diverse points of view, cutting-edge information, inspirational guests and valuable insights to help advisors improve both their professional and personal lives.
Calculated Risk
DECEMBER 22, 2023
Today, in the Calculated Risk Real Estate Newsletter: New Home Sales decrease to 590,000 Annual Rate in November Brief excerpt: The Census Bureau reports New Home Sales in November were at a seasonally adjusted annual rate (SAAR) of 590 thousand. The previous three months were revised down. The next graph shows new home sales for 2022 and 2023 by month (Seasonally Adjusted Annual Rate).
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
Abnormal Returns
DECEMBER 16, 2023
EVs The rising pedestrian death rate is due to a rise in nighttime deaths. (nytimes.com) The Tesla ($TSLA) Cybertruck is another step along the line of increasingly large, dangerous vehicles. (slate.com) Ford ($F) is cutting F-150 Lightning production. (arstechnica.com) Offshore wind Offshore wind, at scale, is more complex (and costly) than previously thought.
Alpha Architect
DECEMBER 19, 2023
Can machine-learning methods be used to predict the performance of active mutual funds, specifically in terms of alpha net of all costs? Answer: yes. Can Machine Learning help to select mutual funds with positive alpha? was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Wealth Management
DECEMBER 22, 2023
The independent broker/dealers that tighten connections with their advisors and demonstrate flexibility in their affiliation models will be competitive in the year ahead.
A Wealth of Common Sense
DECEMBER 21, 2023
A reader asks: What would you advise as an alternative to getting on the “real estate ladder”? Saving and waiting for lower interest rates? Or investing in the market until you can put down a larger down payment? Offering advice on the home buying process is even harder than offering investment advice without more context. Investing is personal but your living situation has even more idiosyncratic risks involv.
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.
Abnormal Returns
DECEMBER 18, 2023
Markets The VIX is at its lowest level since the onset of the pandemic. (axios.com) Junky stocks have benefited greatly from the recent rally. (ft.com) Here are some more signs of market strength. (allstarcharts.com) Strategy The best thing you could have done in 2023 was to stick to your plan. (awealthofcommonsense.com) It was hard to lose money in 2023, but here are five ways it may have happened.
Calculated Risk
DECEMBER 18, 2023
Altos reports that active single-family inventory was down 1.4% week-over-week and is now up 3.0% year-over-year. Inventory will likely decrease seasonally until the Spring. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of December 15th, inventory was at 539 thousand (7-day average), compared to 546 thousand the prior week.
Wealth Management
DECEMBER 19, 2023
A new JPMorgan report recommends a 25% position in alternative investments. Propmodo looks at progress in Opportunity Zone investments over the past six years. These are among today’s must reads from around the commercial real estate industry.
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