Brown Advisory
DECEMBER 31, 2018
Global Leaders Investment Letter - Q4 2018 ajackson Mon, 12/31/2018 - 09:50 Global Leaders Strategy Investment Letter - Q4 2018 In this edition the team explore two concepts—myopic loss aversion and information cascades. They feel that both ideas are relevant today as some investors become increasingly short-term focused amid concerns about an imminent global recession.
The Irrelevant Investor
DECEMBER 30, 2018
Articles Only one of the three fundamental types of liquidity are directly in the hands of the Fed. By Mark Dow There is more to life than money By Joe Fahmy Just recognize that financial independence and early retirement are not some magic bullet that will fix your life. By Chris Mamula Who knows who really got there first? There are at least 20 fathers of indexing By Robin Wigglesworth They can stop now, stand ready to ease if necessary, and still keep the expansion alive.
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Wealth Pilgrim
DECEMBER 21, 2018
Let’s say you need cash ASAP to pay off high-cost credit card debt or complete a pet project. You need the money but you don’t want to pay through the nose for the finances. You already know that if you need a loan there are many alternatives. Which is the best source? Where can you […]. The post Can Upgrade Personal Loans Really Cut Your Credit Card Interest Rates?
Brown Advisory
DECEMBER 31, 2018
Global Leaders Investment Letter - Q4 2018. ajackson. Mon, 12/31/2018 - 09:50. Global Leaders Strategy Investment Letter - Q4 2018. In this edition the team explore two concepts—myopic loss aversion and information cascades. They feel that both ideas are relevant today as some investors become increasingly short-term focused amid concerns about an imminent global recession. . .
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.
The Irrelevant Investor
DECEMBER 26, 2018
The Dow just had its best day since March 2009, having many of us wondering, was this the bottom? Is the bear market over? Before we move on and before I get actually'd, the Dow technically never entered a "bear market". It only fell 19.4% peak-to-trough. We all know how silly these arbitrary definitions are but the line has to be drawn somewhere, even if it is rather meaningless.
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The Irrelevant Investor
DECEMBER 24, 2018
"Every past decline looks like an opportunity, every future decline looks like a risk." - Morgan Housel Another day where the feeling of risk overwhelms the prospects of opportunity. The chart below shows all the times that the S&P 500 declined by at least 1% over 4 consecutive sessions. This has occurred at bottoms (2002, 2009, 2015), and in October 2008, which was.definitely not the bottom.
The Irrelevant Investor
DECEMBER 21, 2018
The NASDAQ 100 just had its worst week since 2008. Every stock in the index finished in the red. Twenty-one fell at least 10%. There wasn't a single -2% day in the S&P 500 from October 2016 through January 2018. There have been 7 over the last 60 sessions Something interesting has been going on the past six months that a lot of investors aren't aware of.
The Irrelevant Investor
DECEMBER 21, 2018
Articles Two to three times more would be perfect. By Josh Brown We will be less wrong By Corey Hoffstein People who are rich just can’t accept that fact. If you’re rich, you can buy a lot of things, but on average you can’t buy above-average performance. By Jason Zweig The most successful active funds over the long term weren't persistent By Jeffrey Ptak Expectation and reality diverge quite often By Nick Maggiulli Investors tend to believe that not only is their home country a safer place to i
The Irrelevant Investor
DECEMBER 19, 2018
Below are the total annual returns for the S&P 500 over the past nine calendar years. Nine consecutive years of calendar gains is terrific, but I don't feel any comfort in writing this so I doubt you feel any comfort in reading it I could show you a million stats about how accommodating the market has been over the last few years but right now context doesn't help because we don't care where stocks came from, we worry about where they might be going.
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 Irrelevant Investor
DECEMBER 20, 2018
As is usually the case, most stocks are doing worse than the index. While the S&P 500 is mired in a 15% drawdown (as of yesterday's close), the median stock is 23.5% below its 52-week high. Looking within the S&P 500 (as of yesterday's close, data from YCharts), things have gotten ugly out there. There are more stocks 50% below their 52-week high (21) than stocks within 5% of their 52-week high (18). 40% of S&P 500 stocks (black/gray) remain within 20% of their 52-week highs.
The Irrelevant Investor
DECEMBER 19, 2018
On today's Animal Spirits, we discuss: Robinhood goes after banks with 3% checking and savings accounts.Oh wait, nevermind Yea, nevermind Student loans are twice as much as all outstanding credit card debt Never list Are You Ready for the Financial Crisis of 2019? A good Twitter thread People are waking up ridiculously early Listen here: Tweets mentioned [link] [link] [link] [link] Charts mentioned Recommendations The Messy Marketplace Past Tense Charles Barkley JJ Reddick and Jimmy Butler The p
Brown Advisory
DECEMBER 19, 2018
2018 Impact Report: Large-Cap Sustainable Growth Strategy ajackson Wed, 12/19/2018 - 11:16 A Letter of Introduction From The Portfolio Managers Brown Advisory is deeply committed to sustainable investing, with the goal of helping our clients generate attractive investment returns, align their investments with their values and make a positive impact on society with their capital.
Brown Advisory
DECEMBER 19, 2018
2018 Impact Report: Large-Cap Sustainable Growth Strategy. ajackson. Wed, 12/19/2018 - 11:16. A Letter of Introduction From The Portfolio Managers. . Brown Advisory is deeply committed to sustainable investing, with the goal of helping our clients generate attractive investment returns, align their investments with their values and make a positive impact on society with their capital.
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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 Irrelevant Investor
DECEMBER 16, 2018
Today's Animal Spirits Talk Your Book is presented by iShares On today's episode, we discuss: Is market cap weighting really sub-optimal? Can factor investing replace old-school active management? Why should investors bother diversifying internationally? S&P envy. Structuring a multi-factor portfolio. Finding unicorn stocks in a multi-factor model.
The Irrelevant Investor
DECEMBER 17, 2018
Ben Graham once said, "Nearly everyone interested in common stocks wants to be told by someone else what he thinks the market is going to do. The demand being there, it must be supplied." Over the weekend, Barron's obliged. As is always the case, strategists see stocks going higher next year, with the average price target at 2974, which is 17% above where the S&P 500 closed on Monday.
The Irrelevant Investor
DECEMBER 12, 2018
On today's Animal Spirits, we discuss: Sentiment washout and stocks still can't bounce The Incredible Hulk of alternatives Money cannot buy rich people more happiness 67% of workers earning >$100k are going to quit their jobs Willing to pay for outperformance Amazon over alcohol? Madoff victims being made whole Open toys, get rich My winter coat Listen here: Tweets Mentioned: [link] [link] Charts Mentioned: Recommendations: Beautiful Boy Factfulness Only Yesterday The post Animal Spirits: La
Brown Advisory
DECEMBER 12, 2018
Finding Alpha in Challenged Global Markets ajackson Wed, 12/12/2018 - 09:26 Global investors need to have an open mind. At any given time, many countries and markets around the world may appear to be rife with risks and problems, and yet in many cases, these countries may also offer sources of return that may not be evident at first glance. The best global managers are the ones that probe below the surface and find those sources of return.
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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.
Brown Advisory
DECEMBER 12, 2018
Finding Alpha in Challenged Global Markets. ajackson. Wed, 12/12/2018 - 09:26. Global investors need to have an open mind. At any given time, many countries and markets around the world may appear to be rife with risks and problems, and yet in many cases, these countries may also offer sources of return that may not be evident at first glance. The best global managers are the ones that probe below the surface and find those sources of return.
The Irrelevant Investor
DECEMBER 9, 2018
Articles The starting point for any question about price in the future ought to begin with price in the present By Josh Brown Outliving one’s financial assets is something to consider insuring. By Blair duQuesnay In the end, it doesn’t matter what caused something to stop working, only that it did. By Nick Maggiulli Shifting people towards better behavior By Barry Ritholtz Being a writer these days is a bit like being the captain and sole crew of a ship By Daniel Morales Bullish on ETFs as the f
The Irrelevant Investor
DECEMBER 7, 2018
During a time out at every Knicks home game, a giant spinning air gun is brought onto the court and pointed at the crowd. People of all ages lose their freaking mind, hoping to be one of the lucky ones to catch what can only be described as a parachute sized t-shirt. I've never seen one of them, but I'm guessing it has the Knicks emblem, some cheesy wording, and multiple J.P.
The Irrelevant Investor
DECEMBER 4, 2018
On this week's Animal Spirits, we discuss The couple who retired in their 30s And how they did it How to retire on a fixed chunk of money When FIRE goes wrong Steak dinners Judge Judy is very rich The sellers are in control Correction could be bullish Listen here: Tweets mentioned [link] Recommendations Normal Accidents Only Yesterday The post Animal Spirits: The Sellers Are in Control appeared first on The Irrelevant Investor.
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.
The Irrelevant Investor
DECEMBER 5, 2018
"Apple is so big, it’s running up against the law of large numbers." This was taken from a New York Times article in February 2012 when the market capitalization was.$487 billion. Another NYT article from 2014 states that "What makes Apple’s challenge particularly daunting is the law of large numbers. Its sales are so big that even another new strong product — unless it’s a gigantic hit on the order of the iPhone — won’t lead to the kind of growth to which some investors have grown accustomed.
The Irrelevant Investor
DECEMBER 3, 2018
Today's Animal Spirits Talk Your Book is presented by Graniteshares Topics discussed Boom and bust nature of commodities What is the role of commodities in a portfolio -- manage risk or price appreciation? Why would commodities add a risk management component to a typical portfolio? Do commodities need inflation to do well or is it about supply and demand?
The Irrelevant Investor
DECEMBER 2, 2018
Articles There are many tooth fairies in the world, but, the question is, do you want to crack open your eyes to see them? By Nick Maggiulli Semantics play a huge role in investing By Tadas Viskanta You don’t have to speculate like optionsellers.com to be caught short volatility at the wrong time By NeckarValue Everything is dead when compared to the S&P 500 By Wesley Gray Passive language is insidious and relentless By Jason Zweig You’ll be amazed at how much you can learn by writing these
The Irrelevant Investor
NOVEMBER 30, 2018
The first edition of the Journal of Portfolio Management opened with an article from its founder and editor, the great Peter Bernstein. In What this Journal is About , he wrote: The maiden issue of this Journal appears at a critical time for our profession. The dismal of record of portfolio management over the past five years needs no elaboration.Our profession probably receives a wider variety of information from more sources than any other group in the world.
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
The Irrelevant Investor
NOVEMBER 27, 2018
ETFs are having a bad year. Wait a minute, "ETFs are having a bad year?" That doesn't make any sense. There are ETFs that track a stock index There are ETFs that invest in commodities. There are ETFs that invest in emerging market stocks with low volatility. These investment vehicles come in all different shapes and all different sizes. General statements like "ETFs are having a bad year" lack any meaning.
The Irrelevant Investor
NOVEMBER 28, 2018
On this week's Animal Spirits, we discuss: The truth about the content business How much should you charge? Option selling When cash outperforms everything Nothing is making money this year The private equity pillage This is a weird story Is a recession coming? Recommendations Factfulness Banana The Next Millionaire Next Door Joe Rogan and Jake the Snake Marc Maron and Michael Douglas Listen here: Charts mentioned: Tweets mentioned: [link] [link] The post Animal Spirits: Passive Income appeared
Brown Advisory
NOVEMBER 28, 2018
2018 Year-End Planning Letter. ajackson. Wed, 11/28/2018 - 08:38. Each year, we send a letter to clients to help guide our year-end planning discussions with them and to offer ideas for them to consider with their other advisors. Our goal in year-end discussions is to ensure that client plans are updated as needed, based on changing external conditions as well as the client’s circumstances, so that we stay on track to deliver the long-term outcomes that each client seeks.
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