A Wealth of Common Sense
FEBRUARY 2, 2023
A reader asks: Without getting into the politics of throwing the U.S. government into default the threat is very real. How bout a discussion of how should retirees position themselves to protect their portfolio? Us old guys don’t have years to recover from a political sabotage of the markets and the economy. You know old folks read and listen to your stuff too!
The Reformed Broker
JANUARY 28, 2023
We had a great time learning from Nathan Vardi this week. Nathan is the author of the new book For Blood and Money, which documents the story behind the biggest winners the stock market has ever. It’s also the story of some very interesting characters who were involved, including the hedge fund manager Joe Edelman, who is the best performing hedge fund manager from 1999 to 2020.
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The Big Picture
FEBRUARY 2, 2023
There is a fascinating long-form article in the Washington Post about the murder of an investigative reporter who was looking into a Ponzi scheme in Las Vegas last year. 1 It’s a riveting and terrible story, and the Post focused on the highlights: Lost monies, Mormons, FBI investigations, guns, and murder. I read this as I was putting together my deck on how not to get ripped off by investment fraud , This led me to focus on a slightly different aspect of this grim tale: “Authorities had l
Abnormal Returns
FEBRUARY 1, 2023
Podcasts Christine Benz and Jeff Ptak talk with Ann Garcia the author of the book "How to Pay for College." (the-long-view.simplecast.com) Larry Bernstein talks with Victor Hagani and Myron Scholes about the essentials of investing. (elmwealth.com) Layoffs Steps to take, and not, if you get laid off. (thisisthetop.substack.com) Make sure you take advantage of all the resources available to you when you get laid off.
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.
Nerd's Eye View
JANUARY 31, 2023
Welcome back to the 318th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Ali Swart. Ali is a Partner and the Managing Director for Waldron Private Wealth, a multi-family office based in Bridgeville, Pennsylvania that oversees nearly $3 billion in assets under management for 280 ultra-high-net-worth family households.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Big Picture
JANUARY 30, 2023
We live in an age of contextless slogans. It is the stock in trade of Instagram Influencers, TikTok Investors, and grinding side hustles. It’s a new flavor of b t designed to sell unwitting dupes some garbage product or worse, a destructive half-assed philosophy. In 2020, all you had to do was Hodl Meme stocks; In 2021, it was day trade your way to wealth; before that, just be a Crypto bro, or you can “ Have fun being poor !
Abnormal Returns
JANUARY 30, 2023
Markets How worried should investors be about the debt ceiling drama? (theirrelevantinvestor.com) Is the VIX broken? No, but the options market is changing. (ft.com) Strategy What can you assume about stock, bond and cash returns over the long run. (awealthofcommonsense.com) Rubin Miller, "The stock market is brashly indifferent to our opinions." (fortunesandfrictions.com) Why you need a well-articulated investment strategy to ride out tough times.
Nerd's Eye View
FEBRUARY 1, 2023
Financial advisors who pay third parties to solicit or refer prospective clients to generate new business have historically been subject to the SEC’s Cash Solicitation Rule. However, that rule was drafted in an era where most paid referral relationships were between individuals, such as a financial advisor who paid a third-party accountant to refer clients their way.
The Reformed Broker
FEBRUARY 1, 2023
Gavin Spitzner loved the wealth management industry and the industry loved him back. Gavin was the founder of Wealth Consulting Partners and he was one of the most well known and beloved voices in the business. He passed away on Monday according to his family after struggling with acute myeloid leukemia (AML) which he was diagnosed with in September.
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
FEBRUARY 2, 2023
My morning train WFH reads: • How Extreme Bets Fueled an $11.4 Billion Fortune : A look inside BlueCrest reveals Michael Platt’s many acts — including outsize returns and some harrowing losses. ( Bloomberg ) • Stock, Bond and Crypto Investors Call Fed’s Bluff on Interest Rates : Many are skeptical as central bank says battle against inflation isn’t over. ( Wall Street Journal ) see also Wall Street: We Want Lower Rates.
Abnormal Returns
JANUARY 31, 2023
Strategy Everybody talks their book. (covestreetcapital.com) 20 lessons Seth Klarman learned from the GFC including 'Do not accept principal risk while investing short-term cash.' (investmenttalk.substack.com) Crypto Tesla ($TSLA) a big hit on its Bitcoin holdings. (electrek.co) Putting Grayscale Bitcoin Trust ($GBTC) into retirement accounts has backfired.
Pragmatic Capitalism
JANUARY 31, 2023
Here’s the second batch of answers from the Ask Me Anything. If you missed part 1 you can catch it here.
The Reformed Broker
JANUARY 28, 2023
Somehow, incredibly, January is already pretty much in the books. That’s how fast 2023 is going. We got through the first wave of Q4 earnings reports from the likes of Intel, IBM, Microsoft, Netflix, the banks, Visa and American Express – so far, not terrible. Some bad reactions but some genuinely good ones. Just adds to the existing confusion.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
The Big Picture
FEBRUARY 1, 2023
We are hiring! We are looking for client service associates who can help us continue to grow. We offer fantastic perks and benefits such as: Great company culture We embrace diversity and inclusion Remote/Work from home Comprehensive Benefits package 401k with match Generous time off Paid Parental Leave Support for Community Volunteering Exclusive employee discounts, special offers, and tickets to top attractions, theme parks etc.
Abnormal Returns
FEBRUARY 1, 2023
Markets How major asset classes performed in January 2023. (capitalspectator.com) January's market rally was kinda junky. (ft.com) Fixed income On the trade-off between buying long-term vs. short-term bonds. (ofdollarsanddata.com) Brokerages are attracting more customers to their banking services. (wsj.com) Companies Add Paypal ($PYPL) to the list of companies doing layoffs.
Calculated Risk
FEBRUARY 3, 2023
From the BLS : Total nonfarm payroll employment rose by 517,000 in January, and the unemployment rate changed little at 3.4 percent , the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care. Employment also increased in government, partially reflecting the return of workers from a strike.
The Reformed Broker
FEBRUARY 1, 2023
Josh Brown breaks down Wednesday’s post-Fed market action from CNBC. The post Clips From Today’s Closing Bell appeared first on The Reformed Broker.
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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
FEBRUARY 3, 2023
INTRODUCING… the Future Proof Webcast! Once a month, John & I will feature some of the biggest names and the best guests to discuss the most entertaining and relevant topics in the financial services industry. To kick off the debut episode, we will be joined by three of the smartest macro investors in the industry! Join us live with Marta Norton of Morningstar and Jay Pelosky of TPW, as we sit down with Future Proof’s own John Swolfs to discuss: Can’t attend the vent?
Abnormal Returns
JANUARY 28, 2023
Autos How pickup trucks got so darn big. (axios.com) The longer an EV is driven the better the carbon impact. (hannahritchie.substack.com) Bike lanes are good for local businesses. (kottke.org) Energy Why solar panel prices are falling. (bnnbloomberg.ca) Why not turn parking lots into solar power hubs? (wired.com) What's holding up major renewable projects?
A Wealth of Common Sense
JANUARY 31, 2023
It’s not difficult to find a bearish perspective during a bear market. The bad stuff gets amplified and feels much worse when investors are losing money. Although stocks have rallied this year we’re still well below the highs and remain in an economic environment that is increasingly hard to handicap. Nassim Taleb has never been shy about voicing his bearish prognostications.
The Reformed Broker
FEBRUARY 3, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jason Hsu, and Downtown Josh Brown discuss the latest FOMC meeting, the Chinese market, hard vs soft data, the housing market, earnings for Apple, Amazon, and Google, the Adani rout, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
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
FEBRUARY 3, 2023
This was a strong report, and the revisions show job growth was stronger over the last year than originally reported. With revisions: The 4.81 million jobs added, 2022 was the 2nd best year for job growth in US history behind only 2021 with 7.27 million. The headline jobs number in the January employment report was well above expectations, and employment for the previous two months was revised up by 71,000, combined.
Abnormal Returns
JANUARY 30, 2023
Podcasts Daniel Crosby talks with Jamie Hopkins, Managing Partner of Wealth Solutions at Carson Group, about understanding our money stories. (standarddeviationspod.com) Michael Kitces talks Jennifer Climo, the CEO and a Senior Advisor for Milestone Financial Planning, about the logistics of merging two practices in just 7 years. (kitces.com) Penn Phillips on four pieces of advice you can ignore this year, or any year.
A Wealth of Common Sense
JANUARY 29, 2023
Each year Aswath Damodaran at NYU kindly updates the annual returns for stocks (S&P 500), bonds (10 year Treasuries) and cash (3-month T-bills) going back to 1928. I love this data because stocks, bonds and cash are the building blocks of asset allocation.1 Sure, you can add other asset classes and strategies but those three are where most investors should start when it comes to figuring out your portfolio mix.
The Reformed Broker
FEBRUARY 2, 2023
Final Trades: Uber, Palo Alto, Albemarle & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
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
JANUARY 30, 2023
Fannie Mae reported that the Single-Family Serious Delinquency increased to 0.65% in December from 0.64% in November. The serious delinquency rate is down from 1.25% in December 2021. This is at the pre-pandemic lows. These are mortgage loans that are "three monthly payments or more past due or in foreclosure". The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.
Abnormal Returns
FEBRUARY 2, 2023
Books Insights from Bent Flyvbjerg's new book “How Big Things Get Done: The Surprising Factors That Determine the Fate of Every Project, from Home Renovations to Space Exploration and Everything In Between.” (wsj.com) Insights from Dacher Keltner's new book "Awe: The New Science of Everyday Wonder and How It Can Transform Your Life." (noemamag.com) Technology Why AR/VR seems to be getting pushed farther into the future.
Wealth Management
JANUARY 30, 2023
Taxpayers would have to pay annual taxes on asset values rather than income.
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