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I had a fascinating conversation with an old friend who has been working in a giant bulge bracket firm his entire multi-decade career. What made this particular conversation so intriguing was his sudden epiphany about the Sell-side. Our previous discussions (debates really) were over the traditional model of brokerage I push back against versus the fee-based fiduciary asset management I embrace.
Sharing this chart from Guggenheim showing that the S&P 500’s bear market bounce literally stopped on a dime and was turned away at the 200-day moving average. It’s almost too perfect. We manage our tactical portfolio based on technically-oriented rules not because it always works (it doesn’t!) but because it eliminates feelings like fear or fear of missing out from the decision-making process.
Podcasts Tim Ranzetta talks with Morgan Housel about the psychology of money. (ngpf.org) Jonathan Fields talks wealth and psychology with Patrice Washington host of the “Redefining Wealth Podcast.” (goodlifeproject.com) Jordan Harbinger talks with Dr. Brad Klontz — co-author of "Money Mammoth: Harness The Power of Financial Psychology to Evolve Your Money Mindset, Avoid Extinction, and Crush Your Financial Goals.
Cash tends to exist at the forefront of individuals' day-to-day lives for many reasons: as a stable savings vehicle for near-term goals, a safety net for unforeseen emergency expenses, and, of course, to pay for daily living expenses, just to name a few. And this nearness to daily life means that cash - and how it is used - is also often at the forefront of individuals' minds.
More and more so, companies are adopting month-end close solutions to help battle the changing landscape of business. Macro trends such as shortage of accountants, the increased push for digitization and AI, and increase of remote work are encouraging accounting teams to explore more ways to automate recurring work. In this webinar, we will discuss the decision-making process on whether or not to automate month-end close, how best to evaluate vendors and solutions, and how to ensure a successful
Over the years, I have been involved in a fair share of investment conferences. This began with the Big Picture Conference at the New York Athletic Club, post-GFC. I had flipped bullish in March 2009, but I have vivid recollections that Fall of listening to Jim O’Shaughnessy of OSAM explain the history of markets following a 50+% crash. He was even more bullish than I was, and had the data to back it up.
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Devon Drew, and Downtown Josh Brown discuss Jackson Hole, Adam Neumann’s new venture, crypto regulation, the best performing stocks since March 2020, using AI in asset management, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
Also on the site The age of exchange traded funds and the launch of single-bond ETFs. (abnormalreturns.com) Top clicks this week Ben Carlson, "Here’s a little secret about investing the pros will never admit — you don’t have to predict the future to be successful in the markets." (awealthofcommonsense.com) Why would a16z invest so much, so soon, in Adam Neumann's new thing?
Also on the site The age of exchange traded funds and the launch of single-bond ETFs. (abnormalreturns.com) Top clicks this week Ben Carlson, "Here’s a little secret about investing the pros will never admit — you don’t have to predict the future to be successful in the markets." (awealthofcommonsense.com) Why would a16z invest so much, so soon, in Adam Neumann's new thing?
Cash tends to exist at the forefront of individuals' day-to-day lives for many reasons: as a stable savings vehicle for near-term goals, a safety net for unforeseen emergency expenses, and, of course, to pay for daily living expenses, just to name a few. And this nearness to daily life means that cash - and how it is used - is also often at the forefront of individuals' minds.
When it comes to integrating data with investing insights, no one is better than Ben Carlson. I direct you to today’s “ Exceptions to the Rule, ” where Ben dives into the nitty gritty of the conflicting data between market action and inflation data: BULL : The S&P 500 has recovered half of its 2022 bear market losses. When this has occurred in the past, stocks have never moved back to new lows, and have been higher every time a year later.
It was a quiet week here at TRB as we had more than a dozen employees come in to New York from around the country to spend some time at the Mother Ship in midtown Manhattan and out here on Long Island. It’s cool to see RWM people who have never met each other in-person before solidify the relationships they’ve begun building on Slack and Zoom and Google Meet.
Trend A reminder that momentum and trend following are two distinct things. (mrzepczynski.blogspot.com) Comparing TAA and long volatility strategies. (insights.factorresearch.com) Factors Is value just a big interest rate bet? (aqr.com) Is the size factor down for good? (mailchi.mp) Research Using asset duration to create an all-weather portfolio. (disciplinefunds.com) Does mining credit card data make for alpha?
Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
Welcome back to the 295th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Shari Greco Reiches. Shari is the Co-Founder and Chief Visionary Officer of Rappaport Reiches Capital Management, an independent RIA based in Skokie, Illinois, that oversees more than $800 million in assets under management, for 350 client households.
My back-to-work morning train WFH reads: • How to Beat the Stock Market Without Even Lying : Stock funds have been pulling a switcheroo to make their returns look better: When they don’t measure up, they change how they measure. ( Wall Street Journal ). • Remote Work Is Sticking : About a third of all service work and just under 10% of manufacturing work in the region was being done remotely—a huge jump from 8% and 3%, respectively, before the pandemic. ( Liberty Street Economics ) see also Pizz
The DOL reported : In the week ending August 20, the advance figure for seasonally adjusted initial claims was 243,000 , a decrease of 2,000 from the previous week's revised level. The previous week's level was revised down by 5,000 from 250,000 to 245,000. The 4-week moving average was 247,000, an increase of 1,500 from the previous week's revised average.
Markets The stock market was stopped dead in its tracks at the 200-day moving average. (thereformedbroker.com) Last week more than 90% of S&P 500 stocks were above their 50-day moving average. (wsj.com) Strategy Trying to distinguish between speculation and investing is wasted effort. (integratinginvestor.com) Good investors aren't trying to impress anyone.
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.
Historically, the career path for newer financial advisors has followed a commission-based model that was focused on sales and business development first and learning the technical aspects of financial planning along the way. As the financial advisory industry has evolved, though, it has shifted to a business model that focuses more on teaching new advisors how to provide good financial planning services first, and to focus on business development later.
Barry Ritholtz, Ritholtz Wealth Management Chairman and CIO & “Masters in Business” Bloomberg Radio & Podcast Host, says he looks at the sell-off in the first half of 2022 as a “cyclical bear within a longer secular bull.” Cyclical Bear Within a Secular Bull: Ritholtz. Source: Bloomberg , August 19th, 2022. The post Cyclical Bear Within a Secular Bull appeared first on The Big Picture.
A reader asks: Hey guys please explain why an inflation-linked bond could have lost money this year with inflation at 9%. I’ve been getting this question a lot lately. How could bonds that have an implicit inflation kicker be down almost 7% this year? Treasury inflation-protected securities (TIPS) are one of the most peculiar assets in the investment universe.
Autos U.S. traffic deaths in 2022 are at a 20-year high. (msn.com) The Ford ($F) F-150 Lightning is a great truck with a subpar tablet. (theverge.com) EV buyers need to be careful when it comes to tax credits. (nytimes.com) It would help if EV chargers were actually working. (theverge.com) Transport UPS ($UPS) driver are struggling with the heat in their vehicles.
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
Historically, the career path for newer financial advisors has followed a commission-based model that was focused on sales and business development first and learning the technical aspects of financial planning along the way. As the financial advisory industry has evolved, though, it has shifted to a business model that focuses more on teaching new advisors how to provide good financial planning services first, and to focus on business development later.
My Two-for-Tuesday morning train WFH reads: • Inflation Is Up Everywhere, But How Much Depends on Where You Live : The Northeast isn’t feeling the pain as much as the South or Mountain West, This could have political implications in the 2022 midterms. ( Businessweek ) see also Why the Rent Inflation Is So Damn High It’s just the latest chapter in the “everything is weird” economy. ( The Atlantic ). • The Biggest Life Event That No One Talks About : Graduation, first job, marriage, kids, divorce,
The BLS released the preliminary annual benchmark revision showing 462,000 more payroll jobs as of March 2022. The final revision will be published when the January 2023 employment report is released in February 2023. Usually, the preliminary estimate is pretty close to the final benchmark estimate. The annual revision is benchmarked to state tax records.
There was a question posed on Twitter this week that caused a stir among finance people: A 50% chance of winning $50 million would equate to an expected value of $25 million. Why would you take $1 million against an expected payout value of $25 million? That doesn’t make any sense. If you understand probabilities, you hit the green button. Easy right?
It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Advisory agreements for Registered Investment Advisers (RIAs) contain many sections that are important both for the purposes of complying with SEC and state securities regulations, and for constituting a valid agreement between the RIA and the client. In his latest article for the Nerd’s Eye View blog, Chris Stanley, investment management attorney and Founding Principal of Beach Street Legal, laid out the statutory requirements for RIA advisory agreements and what to include in the agreeme
My end-of-week morning train WFH reads: • Hope You Enjoyed the Summer Rally : The easy money has already been made (probably). ( Businessweek ). • Powell Has Chance to Reset Market Expectations at Jackson Hole : Fed chair will speak amid high inflation, investor optimism ECB, BoE officials also set to attend annual Fed conference. ( Bloomberg ) see also The NY Fed vs Larry Summers : Some pundits were right on high inflation but for the wrong reasons. ( Financial Times ). • An overlooked indicato
The BEA released the Personal Income and Outlays report for July: Personal income increased $47.0 billion (0.2 percent) in July , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $37.6 billion (0.2 percent) and personal consumption expenditures (PCE) increased $23.7 billion (0.1 percent).
Michael and I will be appearing at MarketWatch’s Best New Ideas in Money Festival in mid-September. We’re taping a live episode of our podcast, The Compound and Friends, and the audience gets to hang out and be a part of it. Duncan, John and Nicole will be there too. If you’re a fan and want to be in the room, below is how you can make it happen!
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.
Advisory agreements for Registered Investment Advisers (RIAs) contain many sections that are important both for the purposes of complying with SEC and state securities regulations, and for constituting a valid agreement between the RIA and the client. In his latest article for the Nerd’s Eye View blog, Chris Stanley, investment management attorney and Founding Principal of Beach Street Legal, laid out the statutory requirements for RIA advisory agreements and what to include in the agreeme
This week, we speak with Bill Browder, who is head of the Global Magnitsky Justice Campaign and author of the recently released “Freezing Order: A True Story of Money Laundering, Murder and Surviving Vladimir Putin’s Wrath.” The founder and CEO of Hermitage Capital Management, which was the investment adviser to the largest foreign investment fund in Russia until 2005, Browder is also the author of “ Red Notice: A True Story of High Finance, Murder and One Man’s Fight for Justice.
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 19, 2022. The Refinance Index decreased 3 percent from the previous week and was 83 percent lower than the same week one year ago.
1) ESG – Still a Convoluted Mess. My long standing position on ESG (Environmental, Social & Governance) investing is that secondary markets are a not a great place to try [ … ].
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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