Sat.Jul 27, 2024 - Fri.Aug 02, 2024

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Top clicks this week on Abnormal Returns

Abnormal Returns

Top clicks this week What is the best performing stock of all-time? (mebfaber.com) Three investment myths, debunked. (morningstar.com) Lessons learned from the best performing stocks of all-time. (awealthofcommonsense.com) For investors, inflation is THE enemy. (disciplinefunds.com) Ian Cassel, "Most big winners were ugly ducklings that transformed themselves into beautiful swans.

Assets 317
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Weekend Reading For Financial Planners (August 3-4)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that a Federal district court in Texas has put a stay on the effective date of the Department of Labor’s (DoL’s) new Retirement Security Rule (aka “Fiduciary Rule 2.0”), which had been scheduled to become effective in September, and related amendments to prohibited transaction exemptions.

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10 Weekend Reads

The Big Picture

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The Secret Battle for the Future of the Murdoch Empire : Rupert Murdoch, the patriarch, has moved to change the family’s irrevocable trust to preserve his media businesses as a conservative force. Several of his children are fighting back. ( New York Times ) • The world’s emotional status is actually pretty good, a new global report finds : But which country comes first in

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The Non-Compete Revolution Begins

Wealth Management

RIAs are especially vulnerable to the potential changes stemming from the FTC’s rule.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

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.

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Sunday links: policy blunders

Abnormal Returns

Markets A lot of stock market indices are sitting at all-time highs. (allstarcharts.com) It's not just the U.S. that is seeing fewer publicly traded companies. (apolloacademy.com) Finance How cold-storage operator Lineage ($LINE) became the biggest IPO of 2024 so far. (wsj.com) Revolut now has a UK banking license. (ft.com) Fund management Does your alternatives fund charge fees on gross or net assets?

License 290

More Trending

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MiB: Lakshman Achuthan, ECRI on Growth, Employment and Inflation Cycles

The Big Picture

This week, we speak with Lakshman Achuthan, co-founder of the Economic Cycle Research Institute. Achuthan met his mentor, Geoffrey H. Moore, at Columbia University in 1990; they formed ECRI with Anirvan Banerji in 1996. He serves on the board of governors for the Levy Economics Institute of Bard College. In 2004, he co-authored Beating the Business Cycle: How to Predict and Profit From Turning Points in the Economy.

Economics 182
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Yes, Social Security Is Taxable – But Yours Doesn’t Have to Be

Carson Wealth

As you move toward retirement, you can’t be content just to accumulate assets. You need to develop a retirement income plan that can help guide you when it comes time to turn savings into sustainable retirement income. The real challenge of retirement income planning is that you need to generate income for an uncertain period of time — because no one knows how long they’ll live in retirement.

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Friday links: a missed window

Abnormal Returns

Markets Markets fear the Fed has missed their window to cut rates. (sherwood.news) High beta stocks are rolling over. (allstarcharts.com) August historically not been a great month for the stock market. (carsongroup.com) The story of QXO ($QXO) is a great lesson for investors. (wsj.com) Trading The best trading system is one that works for you. (allstarcharts.com) Why setting stops is so important psychologically.

License 279
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3 Key Principles For Measurable and Actionable Standards That Help Cultivate Excellent Client Service

Nerd's Eye View

Most financial advisors strive to provide excellent client care and prioritize a systematic process to maintain regular communication with their clients both on a scheduled (e.g., annual meeting) and an "on demand" basis. And while individual advisors running solo firms are often able to intuitively sense when they're delivering their best, as they grow and scale their firms, that same advisor eventually goes from individually 'owning' every client relationship to sharing the workload with first

Clients 246
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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

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Some Things I Don’t Want When I Grow Up

A Wealth of Common Sense

When you’re young, you spend a lot of time daydreaming about the type of person you’d like to become. I want to become a CEO, a politician, a business owner, an astronaut, an actor, an uber-rich person, etc. One reason the dreaded mid-life crisis exists is that expectations are often too high when you’re young. Reality punches you in the face in middle age.1 My antidote to a mid-life crisis involves some.

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Daffy Launches Custom Portfolios

Wealth Management

They've expanded the number of possible portfolio constructions from 15 to 100 quintillion.

Portfolio 132
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Wednesday links: a time to cut

Abnormal Returns

Bonds Bonds are doing okay in 2024, except for duration. (capitalspectator.com) Bonds drive markets. (allstarcharts.com) The case for central clearing of U.S. government bonds. (ft.com) Finance SPAC IPOs are back from the dead. (sherwood.news) PE fundraising is down in 2024. (institutionalinvestor.com) Companies Microsoft ($MSFT) capex spending has surged.

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Weekend Reading For Financial Planners (Aug. 3-4)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that a Federal district court in Texas has put a stay on the effective date of the Department of Labor’s (DoL’s) new Retirement Security Rule (aka “Fiduciary Rule 2.0”), which had been scheduled to become effective in September, and related amendments to prohibited transaction exemptions.

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Back to Basics with Reconciliations

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.

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The Impact of Fed Rate Cuts on Stocks, Bonds & Cash

A Wealth of Common Sense

Our resident insurance expert and financial advisor, Jonathan Novy, joined me on the show this week to discuss questions about life insurance vs. investing, HELOCs, taking out a loan to remodel your house and how the step-up basis works when one spouse passes away. Further Reading: The Fed Matters Less Than You Think 1There were a lot of theories about the reasoning for this at the time.

Insurance 140
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Transitioning from an ETF to Direct Indexing? Bad Idea.

Alpha Architect

Many investors face the complex decision of whether to transition from a diversified ETF to direct indexing. When is this switch a poor investment choice? My findings suggest that many investors are better off avoiding it. Direct indexing remains attractive even with a decent amount of embedded capital gains, up to approximately 40% of initial investment, for investors in the highest marginal income tax bracket.

Taxes 131
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Saturday links: raising aggrieved kids

Abnormal Returns

Autos Cars are rolling computers. How long will automakers update their software? (wired.com) Uninsured motorists are helping to drive up car insurance rates higher. (wsj.com) Automakers have been selling your driving data for (literally) pennies. (sherwood.news) The Tesla ($TSLA) Cybertruck is polarizing to say the least. (nytimes.com) Why convertibles are going out of style.

Food 279
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The SEC Playbook For Newly-Registered Advisers: Preparing For The SEC Examination And Complying With The Information Request Letter

Nerd's Eye View

For SEC-registered financial advisors, the prospect of an upcoming examination by the SEC can be a source of high anxiety. This is especially the case with newly registered advisors or formerly state-registered advisors who recently became SEC-registered since they may be uncertain about how the examination process will work, what elements of the firm the SEC will dig into, or what information the advisor will need to provide to the examiners.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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7 Questions I’m Pondering

A Wealth of Common Sense

Seven questions I’m pondering at the moment: 1. Why doesn’t the Fed just cut now? Inflation is under control. The labor market is cooling off. The housing market is a mess. I know people who lived through the 1970s are worried about a replay but this is not that. If the Fed waits too long the economy is going to roll over and they’re not going to be able to stop the unemployment rate from rising.

Economy 140
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Cerulli: JVs Between Traditional Asset Managers, Alts Providers Are On the Rise

Wealth Management

The finding is part of a broader Cerulli report examining the opportunities and challenges surrounding the use of alternative investments in the retail channel.

Assets 128
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Thursday links: buying software

Abnormal Returns

July 2024 How major asset classes performed in July 2024. (capitalspectator.com) The S&P SmallCap 600 was up 10.8% in July. (on.spdji.com) Rates The 10-year Treasury has dipped below 4.0% for the first time in awhile. (sherwood.news) Tether is benefiting greatly from elevated interest rates. (theblock.co) Fund management Bill Ackman pulled the IPO for Pershing Square USA.

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#FASuccess Ep 396: Leveraging Coaches To Delve Deep Into A Divorce Specialization That Brings A Steady Flow Of Ideal-Fit Clients, With Michelle Klisanich

Nerd's Eye View

Welcome everyone! Welcome to the 396th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Michelle Klisanich. Michelle is a Wealth Advisor for Financially Wise Divorce, a hybrid advisory firm based in Minneapolis, Minnesota, that oversees $87 million in assets under management for 91 client households. What's unique about Michelle, though, is how she has leveraged her learnings from several different business coaches over the course of her career, which gave her th

Clients 130
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Pricing for Profit: How to Set, Negotiate, and Succeed

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

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Some Crazy Charts

A Wealth of Common Sense

I enjoy reading and writing but I’m a visual learner. I like charts. Here are some crazy charts I’ve been thinking about lately. Torsten Slok shared a chart of gas prices going back to 2004: The average price over this 20+ year timeframe is around $3/gallon which isn’t too far from current levels. And $3.50/gallon today is not the same thing as $3.50/gallon in 2008.

Marketing 135
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Comments on July Employment Report

Calculated Risk

The headline jobs number in the July employment report was below expectations, and May and June payrolls were revised down by 29,000 combined. The participation rate increased, the employment population ratio decreased, and the unemployment rate increased to 4.3%. Construction employment increased 25 thousand and is now 645 thousand above the pre-pandemic level.

Numbers 127
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Monday links: desperate needs

Abnormal Returns

Markets Commodities are back down to their lows of the year. (sherwood.news) Why forecasting is so difficult. (mrzepczynski.blogspot.com) Crypto Politicians are falling all over themselves to cater to the crypto crowd. (downtownjoshbrown.com) The U.S. government continues to move Silk Road Bitcoin. (coindesk.com) Finance Convertible bonds are having a moment this year.

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Cerulli: Demand Grows for Custom Model Portfolios

Wealth Management

A new survey from Cerulli Associates found model portfolio providers are increasingly focused on offering custom options to keep their clients loyal.

Portfolio 128
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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

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.

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The Value of WallStreetBets Investment Research Recommendations

Alpha Architect

Wallstreetbets has become an increasingly prominent source of investment research. Do their recommendations have value? The Value of WallStreetBets Investment Research Recommendations was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

Investing 119
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MBA: Mortgage Applications Decreased in Weekly Survey

Calculated Risk

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 3.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 26, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.9 percent on a seasonally adjusted basis from one week earlier.

Marketing 126
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Adviser links: loving encouragement

Abnormal Returns

Podcasts Josh and Michael talk with Alec Crawford, CEO of AI Risk, about the future of financial advice, how AI will be used by most advisors, and the critical role of AI cybersecurity in the financial industry (youtube.com) Michael Kitces talks with John Bowen, CEO and founder of CEG Worldwide and CEG Insights, about what makes advisory firms work.