The Irrelevant Investor
DECEMBER 31, 2017
Articles Twitter, Snap, Buzzfeed, and Pinterest are acquired. By Scott Galloway Google revenue between 2004 and 2016 has increased from $3.2 billion to $89.5 billion, while print newspaper advertising fell over the same period from $44.4 billion to $12.9 billion By David Dayen Why do we worry about money even though we’re doing everything right? By Alistair Clark Heuristics have the benefit of saving us time, but also introduce bias.
Brown Advisory
DECEMBER 31, 2017
Global Leaders Investment Letter - Q4 2017 ajackson Sun, 12/31/2017 - 09:50 Global Leaders Strategy Investment Letter - Q4 2017 In this letter the team discuss the folly of big picture forecasting. They also discuss leverage as the market continues to rise, in addition to a discussion of the EBITDA-to-net-debt ratio. Download the Letter Past performance is not a guarantee of future performance and you may not get back the amount invested.
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Wealth Pilgrim
DECEMBER 16, 2017
You have probably heard about the Proofread Anywhere course, General Proofreading Theory and Practice, and maybe you’re wondering now if investing in that course is worth it or not. It’s a good question – and by the time you finish reading this extensive deep-dive Proofread Anywhere review, you’ll know your answer. And most important; you’ll know […].
Brown Advisory
DECEMBER 31, 2017
Global Leaders Investment Letter - Q4 2017. ajackson. Sun, 12/31/2017 - 09:50. Global Leaders Strategy Investment Letter - Q4 2017. In this letter the team discuss the folly of big picture forecasting. They also discuss leverage as the market continues to rise, in addition to a discussion of the EBITDA-to-net-debt ratio. . . Download the Letter. . .
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.
The Irrelevant Investor
DECEMBER 25, 2017
There are half as many listed U.S. companies as there were twenty years ago, which is a topic that's been widely covered this year. ( Barron's , Wall Street Journal , Bloomberg , MarketWatch ). I thought this topic was pretty much beaten into the ground until came across an excellent piece from Vanguard. Small IPOs have crashed thanks to tighter regulations, the scrutiny young public companies face, and most importantly, a burgeoning private market.
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The Irrelevant Investor
DECEMBER 22, 2017
With the wild moves in bitcoin, the hucksters and charlatans are out in full force. Below are two headlines I came across in just the last 24 hours. Cryptocurrency fund of hedge funds launched for retail investors How to make $700,000 with Penny Cryptocoins The Financial Industry Regulatory Authority (FINRA) has taken note of the goings-on and recently warned.
The Irrelevant Investor
DECEMBER 20, 2017
GMO Quarterly Letter Experts on an earlier version of the world A Dismal Outlook [link] The Midnight Line Herbert Hoover in the White House Thanks for listening! The post Animal Spirits: Invest Like the Worst appeared first on The Irrelevant Investor.
The Irrelevant Investor
DECEMBER 20, 2017
Earlier this week I wrote about the potential different paths the market can take on a journey to the same final destination. Below is a chart which plots three different ways that $10,000 can compound at 2% a year for twenty years. Assuming you buy and you hold, the path won't matter to the end number. But of course, the experience would be wildly different depending on which of the three roads we travel.
The Irrelevant Investor
DECEMBER 18, 2017
In GMOs most recent letter, Jeremy Grantham leads off the piece with, "At GMO these days we argue over three very different pathways to a similar dismal 20-year outlook for pension fund returns.A problem for investors following GMO’s writing is which of these three alternatives to choose" With this in mind, let's take a look at some of the potential paths a low return environment can take.
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 18, 2017
The best description of the late stages of a bull market comes from the great "Adam Smith's" Supermoney : We are all at a wonderful ball where the champagne sparkles in every glass and soft laughter falls upon the summer air. We know, by the rules, that at some moment, the Black Horseman will come shattering through the great terrace doors, wreaking vengeance and scattering the survivors.
Brown Advisory
DECEMBER 18, 2017
Beyond Bottom-Up achen Mon, 12/18/2017 - 16:48 Fundamental investing is a contest of advantage: informational, analytical and behavioral. If investors can gather information and develop insights about companies more effectively than others, they will have the advantage. If they can do it consistently, it may become a formula for long-term success. Understandably, investment firms commit substantial resources to fundamental research.
Brown Advisory
DECEMBER 18, 2017
Beyond Bottom-Up. achen. Mon, 12/18/2017 - 16:48. Fundamental investing is a contest of advantage: informational, analytical and behavioral. If investors can gather information and develop insights about companies more effectively than others, they will have the advantage. If they can do it consistently, it may become a formula for long-term success.
The Irrelevant Investor
DECEMBER 17, 2017
Articles You need to make sure your money is going to organizations that will make best use of your hard-earned money By Tadas Viskanta The more we have of it, it seems, the more money wears off. By Grant E. Donnelly and Michael Norton What's in place now? What's in the new plan? By Ron Lieber and Tara Siegel Bernard The year has actually turned out to be more confusing than expected, playing out in a way that did not align with either of our scenarios.
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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.
Brown Advisory
DECEMBER 14, 2017
Balancing Act | Pulling the FANGs Apart achen Thu, 12/14/2017 - 11:34 The “FANG” companies—Facebook, Amazon, Netflix and Google—have been a dominant investment story in recent years. They have attracted attention as a group—as a success story and, more recently, as a target of skeptics— but these companies have far less in common than the “FANG” acronym and associated media coverage suggest.
Brown Advisory
DECEMBER 14, 2017
Balancing Act | Pulling the FANGs Apart. achen. Thu, 12/14/2017 - 11:34. The “FANG” companies—Facebook, Amazon, Netflix and Google—have been a dominant investment story in recent years. They have attracted attention as a group—as a success story and, more recently, as a target of skeptics— but these companies have far less in common than the “FANG” acronym and associated media coverage suggest.
The Irrelevant Investor
DECEMBER 13, 2017
Topics discussed on the show. Jack Bogle is worried about U.S. pensions Something I'm worried about The pension fund private equity Hail Mary Jeremy Siegel expected returns Trading costs & the new market averages Investment costs have never been cheaper The bitcoin whales Coinbase: the heart of the bitcoin frenzy Animating Mr. Market Is Buffett bearish?!
The Irrelevant Investor
DECEMBER 12, 2017
Failure is a far better teacher than success because it's much easier to duplicate failure than it is to replicate success. If we can study somebody's shortcomings, we can take away tangible lessons and also realize that mistakes are just a part of the process. Some can be avoided, some we must learn for ourselves. Ulysses S. Grant was an enormously successful General in the Civil War and he spent eight long years as President of a healing United States.
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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 Irrelevant Investor
DECEMBER 10, 2017
Articles We have a full-blown mania on our hands and Wall Street is still at the drawing board. By Josh Brown For a time last week, Coinbase was among the 10 most downloaded iPhone apps, ahead of Uber and Twitter. By Nathaniel Popper Markets are supposed to match the needs of buyers with sellers at a fair price. By Tony Isola Oh, if only it were that simple.
The Irrelevant Investor
DECEMBER 6, 2017
Here are links to topics we discussed on the show. People aren't having babies Automation may wipe out 1/3 of America’s workforce by 2030 Solar prices are crashing Animal Spirits is a collective state of mind. Goldman's Primer on Blockchain is very good. The implosion in early stage VC Fred Wilson's take Goldman warns on valuation A makeover is in order for active managers Getting rich at a young age Your Move: The Underdog's Guide to Understanding Business Thanks for listening!
The Irrelevant Investor
DECEMBER 5, 2017
December has historically been a good time to own stocks. Over the last 91 years, the S&P 500 has averaged a 1.7% return, compared to a 0.9% gain for all other months, not an insignificant spread. So what do we do with this information? 2017 is the twenty-seventh time that the S&P 500 has been up 20% through November. In the previous 26 instances, December has gone on to average an even stronger 1.95% return.
Brown Advisory
DECEMBER 5, 2017
TEDxWilmington | Speak Up. Where It Counts. Loudly. ajackson. Tue, 12/05/2017 - 08:00. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at [link].
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.
Brown Advisory
DECEMBER 5, 2017
TEDxWilmington | How to Lead a Team When Everyone Thinks You're Crazy. ajackson. Tue, 12/05/2017 - 09:50. Speaker: Christopher Buccini. Leadership springs from a strong set of values and a vision that you can make something better -- even revitalize an entire city. It is also about pursuing your dreams, even if the odds are against you.? Chris Buccini is Co-President of The Buccini/Pollin Group, Inc.
Brown Advisory
DECEMBER 5, 2017
TEDxWilmington | Finding Healing and Purpose Through Service. ajackson. Tue, 12/05/2017 - 10:26. Speaker: Michelle DiFebo Freeman. The difference between seeing yourself as a victim of your circumstance versus putting your pain to work for the good of others is transforming. Great good is done in the world stemming from personal pain and heartache ~ the choice is each person's and can bring purpose and healing to those that choose to walk the path of service.
Brown Advisory
DECEMBER 4, 2017
2017 Year-End Planning Letter. achen. Mon, 12/04/2017 - 13:10. Since last year’s U.S. presidential election, we have grappled with the lack of clarity regarding the details of new tax legislation. The outcome of the tax reform debate is likely to impact how we advise clients on tax planning, estate planning and a host of other topics. The dialogue in Washington is progressing, but we still do not know what tax law will look like going forward.
The Irrelevant Investor
DECEMBER 3, 2017
Articles Somebody is making very active decisions about which stocks will be in each index or ‘passive’ product. By Tracy Alloway Just like Friendster gave way to MySpace which gave way to Facebook we will likely see many iterations of these coins over time By Cullen Roche The way we measure inflation matters By Barry Ritholtz Making tons of money at an early age is probably a combination of the best and worst thing that can happen to you.
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 28, 2017
Netflix, Facebook and Amazon are each up 60% in the first 11 months of the year. Apple, is up 50%. Google, the laggard, is up just 34%. These five stocks have added over $900 billion in market capitalization in the first eleven months of the year. The tech-heavy index, of which these companies represent one third of, is up 33% year-to-date, and is on pace to close higher for the ninth year in a row.
Brown Advisory
NOVEMBER 28, 2017
Balancing Act | A New Publication Series achen Tue, 11/28/2017 - 13:39 We believe that investing in equities should be a balancing act, not an exercise in placing bets on one side of the market. A Series Discussing Active Management In Late-Cycle Equity Markets Many investors are worried about the age of the bull market, how much longer it can last and what might happen to their investments in a downturn.
Brown Advisory
NOVEMBER 28, 2017
Balancing Act | A Stroll Down Hindsight Lane achen Tue, 11/28/2017 - 14:27 Market downturns and recessions may seem easy to predict. But timing the market is extremely difficult without the benefit of hindsight. Ultimately, fundamentals drive stock performance. Over shorter periods of time, this relationship is not very reliable, as stock prices are also affected by a tremendous amount of market noise—announcements from the Fed, political angst or exuberance, fears of war, hope of peace, and a h
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