Abnormal Returns
MAY 19, 2024
Top clicks this week Three assets that don't diversify your portfolio as well as you think. (morningstar.com) The problematic math of passing down generational wealth. (blogs.cfainstitute.org) International diversification requires a long time horizon. (awealthofcommonsense.com) The S&P 500 is now nearly 40% of global market cap. (apolloacademy.com) Don't confuse selling calls with income.
Nerd's Eye View
MAY 20, 2024
Ongoing research into how advicers can structure their practices to be better and more successful has consistently highlighted the benefits of choosing to serve a specific niche. In fact, the more specific the niche, the better, as a highly specialized niche not only allows an advicer to differentiate themselves in a crowded marketplace of other 'generalist' advicers, but also helps them build a more efficient practice where they serve clients who share similar characteristics (and puzzles to so
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Advisor Perspectives
MAY 19, 2024
Few practices in the business world are as absurd, senseless, irrational, and cynical as the allocation of investments of large public pension funds and endowments. And few fail so often and so predictably to achieve their true objectives.
Alpha Architect
MAY 24, 2024
There is strong empirical evidence demonstrating that momentum (both cross-sectional and time-series) provides information on the cross-section of returns of many risk assets and has generated alpha relative to existing asset pricing models. Momentum Everywhere, Even Cross-Country Factor Momentum was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
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.
Abnormal Returns
MAY 18, 2024
Autos Waymo cars are making 50,000 paid trips a week. (engadget.com) Pedestrian deaths are a function of speed. (vox.com) Detroit may regret killing off the sedan. (fastcompany.com) Why auto insurance premia are soaring. (nytimes.com) Why 'stroads' are the bane of American cities. (wsj.com) Transport GPS spoofing continues to grow. (ft.com) Urban transit systems are struggling post-pandemic.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
A Wealth of Common Sense
MAY 19, 2024
Four charts about the economy you might find surprising: 1. Wages are cumulative too. The Congressional Budget Office released new research comparing inflation on a basket of goods and services households at different income levels consume between now and 2019 along with changes in wages. Here’s the chart: And the explanation: For households in every quintile (or fifth) of the income distribution, the share of inc.
Calculated Risk
MAY 20, 2024
Altos reports that active single-family inventory was up 1.7% week-over-week. Inventory is now up 17.0% from the February bottom, and above the maximum for inventory last year! Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of May 17th, inventory was at 578 thousand (7-day average), compared to 568 thousand the prior week.
Abnormal Returns
MAY 24, 2024
Economy Derek Thompson talks with David Leonhardt author of "Ours Was the Shining Future." (theringer.com) Ezra Klein talks with James Pethokoukis author of "The Conservative Futurist: How to Create the Sci-Fi World We Were Promised." (podcasts.apple.com) Russ Roberts talks with Nick Bostrom author of "Deep Utopia: Life and Meaning in a Solved World.
Nerd's Eye View
MAY 21, 2024
Welcome everyone! Welcome to the 386th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Dann Ryan. Dann is a Managing Partner of Sincerus Advisory, an RIA based in New York City, that oversees approximately $165 million in assets under management for nearly 150 client households. What's unique about Dann, though, is how he has channeled the anxiety of having imposter syndrome, which still causes him to be nervous before every client meeting (despite having 17 yea
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.
A Wealth of Common Sense
MAY 21, 2024
Here’s a take from Dave Portnoy: A lot of people share these views. It’s the kind of thing that gets people riled up. The market is rigged! It’s one giant casino where the house always wins! That narrative tends to accompany stories like this: Investors who jumped into the latest online frenzy over shares of the struggling video game retailer lost $13.1 billion in just three days from the mania’s.
Calculated Risk
MAY 22, 2024
From the NAR: Existing-Home Sales Retreated 1.9% in April Existing-home sales receded in April, according to the National Association of REALTORS®. All four major U.S. regions posted month-over-month declines. Year-over-year, sales decreased in the Northeast, Midwest and South but increased in the West. Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – slid 1.9% from March to a seasonally adjusted annual rate of 4.14 million
Abnormal Returns
MAY 20, 2024
Podcasts Daniel Crosby talks with Jason Pereira, Partner and Financial Planner at Woodgate Financial, about AI and wealth management. (standarddeviationspod.com) Dan Haylett talks with Derek Hagen who is the founder of Money Health Solutions about creating a meaningful retirement. (open.spotify.com) Leadership Vanguard has a new CEO, and its sooner than anticipated.
Wealth Management
MAY 21, 2024
The acquisitions of Wealth Management Solutions and Autumn Wind Asset Management represent Modern Wealth’s seventh and eighth transactions and bring its assets to over $3.7 billion.
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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.
A Wealth of Common Sense
MAY 23, 2024
A reader asks: Do you guys really think foreign investsments and private equity really aren’t driving up housing prices? It really seems like it is. I understand the sentiment here. The housing market is broken right now for a lot of people. The blame is simply misplaced here. It’s not Blackrock or Blackstone or any other institutional investor who is causing the lack of supply in the housing market.
Calculated Risk
MAY 24, 2024
From STR: U.S. hotel results for week ending 18 May The U.S. hotel industry reported higher performance from the previous week and positive comparisons year over year, according to CoStar’s latest data through 18 May. 12-18 May 2024 (percentage change from comparable week in 2023): • Occupancy: 67.4% (+0.2%) • Average daily rate (ADR): US$163.11 (+2.6%) • Revenue per available room (RevPAR): US$109.93 (+2.8%) emphasis added The following graph shows the seasonal pattern for the hotel occupancy r
Abnormal Returns
MAY 22, 2024
Podcasts Thomas Kopelman and Jacob Turner talk with Abby Davisson about making big life decisions. (podcasts.apple.com) Barry Ritholtz talks with Jan van Eck about sectors going in and out of style. (ritholtz.com) Steve Chen talks with Robert Brokamp about retirement planning and purpose. (newretirement.com) Retirement Don't let too risky a portfolio ruin your retirement.
Carson Wealth
MAY 23, 2024
One of the most important decisions you’ll make when designing your estate plan is who to name in the various fiduciary roles: trustee, personal representative, executor and agent. While a critical decision, it’s often given significantly less thought than the distribution of your assets. But even a meticulously designed estate plan drafted by an accomplished estate planning attorney can fail to achieve its purpose if the trustee fails to administer the trust properly.
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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.
A Wealth of Common Sense
MAY 24, 2024
Here are some facts and figures about the S&P 500: According to Global Financial Data, the S&P only contained 90 stocks when it was created in 1928. It became the S&P 500 in 1957. At the time, the index was comprised of 425 industrial stocks, 60 utilities and 15 railroads. Financials and transportation stocks weren’t added until 1976.
Advisor Perspectives
MAY 20, 2024
Relative to 18 developed economies since 1870, U.S. leverage is high though not unprecedented. However, unless the recent rise in interest rates reverses, the U.S. will need to cut its debt load.
Abnormal Returns
MAY 24, 2024
Markets Why do companies do stock splits? (sherwood.news) T+1 settlement is here. (axios.com) Strategy Ian Cassel, "Time is always trying to put you out of business." (microcapclub.com) A rock, digital or not, is still just a rock. (humbledollar.com) Crypto The SEC has approved spot Ethereum ETFs. (theblock.co) It was a big week for cypto regulation.
Investment Writing
MAY 21, 2024
Many investment and financial advisors have older clients who struggle with decluttering as they prepare to downsize. I picked up some useful ideas from a session presented by Matt Paxton, the host of the PBS program Legacy List and the author of a book that had the same title as his presentation, Keep the Memories, Lose the Stuff: Declutter, Downsize, and Move Forward with Your Life.
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
Wealth Management
MAY 24, 2024
After nearly 40 years with Merrill, advisor Alicia Fuller and her team join under Steward's W2 employee model and will use Raymond James for custody.
Advisor Perspectives
MAY 24, 2024
Consumer sentiment fell over 10% in May to a 6-month low according to the final report for the Michigan Consumer Sentiment Index. The index fell 8.1 points (-10.5%) to 69.1 from the April final. The latest reading was above the forecast of 67.4.
Abnormal Returns
MAY 21, 2024
Markets The stock market is not rigged against the little guy. (awealthofcommonsense.com) Should stock market investors care about the coming election? (ofdollarsanddata.com) Why don't more people engage in probabilistic thinking? (behaviouralinvestment.com) Why does gold still have a hold on us? (unherd.com) Microsoft Windows had to die so Microsoft ($MSFT) could thrive.
Calculated Risk
MAY 21, 2024
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Wednesday: • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 10:00 AM, Existing Home Sales for April from the National Association of Realtors (NAR). The consensus is for 4.18 million SAAR, down from 4.19 million.
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.
Wealth Management
MAY 20, 2024
While making the case for improved industry diversity is “not a sprint,” showing the financial imperative for doing so is the best way to convince leaders, according to participants during the Focused on the Future Think Tank at Wealth Management EDGE.
Advisor Perspectives
MAY 22, 2024
Existing home sales fell for a second straight month in April. According to the data from the National Association of Realtors (NAR), existing home sales were down 1.9% from March, reaching a seasonally adjusted annual rate of 4.14 million units. This figure came in lower than the expected 4.21 million. Existing home sales are down 1.9% compared to one year ago.
Abnormal Returns
MAY 20, 2024
Strategy Options are a tool. Use them accordingly. (fortunesandfrictions.com) Why finance professionals should take less equity market risk. (rogersplanning.blogspot.com) 11 investing principles from Bill Miller including how to avoid value traps. (investmenttalk.co) Financial media Sam Ro's favorite free finance newsletters. (tker.co) The 18 best investing blogs of 2024.
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