Trending Articles

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Research links: noisy, unreliable data

Abnormal Returns

ETFs How the existence of sector ETFs affects analyst estimates. (papers.ssrn.com) How mutual funds and ETFs can exist side-by-side. (papers.ssrn.com) Macro Hedging inflation risk is harder than it looks. (insights.finominal.com) How do macro factors affect trend following returns? (mrzepczynski.blogspot.com) Quant stuff It's not difficult to calculate downside beta.

Portfolio 205
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How To Bring A Team Together For A (First-Time, In-Person) Retreat

Nerd's Eye View

For the advisor leading a virtual team, the day-to-day can offer a rewarding blend of flexibility, creativity, and productivity; at the same time, though, many of the benefits of remote work can also make it challenging to build a tight-knit team culture. For example, with flexibility comes fewer synchronous interactions, which in turn can result in less innovation, team bonding, and collaboration.

Planning 195
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Top clicks this week on Abnormal Returns

Abnormal Returns

Also on the site What is wrong with this picture? How your charitable intentions can get co-opted after you are gone. (abnormalreturns.com) Top clicks this week Ten things to know about building a diversified portfolio. (morningstar.com) How home buying is going to change with the upheaval of realtor commissions. (thebasispoint.com) Byrne Hobart, "Decades of above-average net worth compounding are the reward for taking a big idea seriously, continuously refining it, and implementing it in the re

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10 Weekend Reads

The Big Picture

Billionaires know they are. Low-wage workers are very well aware that they aren’t. But vast swaths of America’s “regular rich” don’t feel that way, and it’s keeping everybody down. [link] via Bloomberg. Electric Boogie Woogie Wagon [link] 17 astounding scientific mysteries that researchers can’t yet solve What is the universe made out of?

Math 176
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Case-Shiller: National House Price Index Up 6.0% year-over-year in January

Calculated Risk

S&P/Case-Shiller released the monthly Home Price Indices for January ("January" is a 3-month average of November, December and January closing prices). This release includes prices for 20 individual cities, two composite indices (for 10 cities and 20 cities) and the monthly National index. From S&P S&P CoreLogic Case-Shiller Index Continues to Trend Upward in January 2024 The S&P CoreLogic Case-Shiller U.S.

Assets 127

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Sunday links: index fund flows

Abnormal Returns

Markets Are index funds propping up the stock market? (awealthofcommonsense.com) What is the end game for Michael Saylor, Microstrategy ($MSTR) and Bitcoin? (wsj.com) Are ETFs the best solution for every strategy? (rogersplanning.blogspot.com) Housing Don't count on materially lower home commissions just yet. (economist.com) We should start to see more innovation when it comes to commissions.

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Weekend Reading For Financial Planners (March 23-24)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the SEC has recently been cracking down on firms for recordkeeping failures related to electronic communications, including their use of text messaging with prospects and clients. Which could serve as a warning to firms to heighten their supervision of their advisors' texting practices and whether they are being recorded properly (perhaps with the help of available archivi

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MiB: Liz Ann Sonders, Schwab Chief Investment Strategist

The Big Picture

This week, we speak with Liz Ann Sonders , managing director and chief investment strategist at Charles Schwab & Co , with $8.5 trillion on its platforms. She has been named best market strategist by Kiplinger Personal Finance and one of SmartMoney magazine’s Power 30. She has also been named to Barron’s 100 Most Influential Women in Finance.

Investing 176
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Three Things to Know About Private Real Estate Credit

Advisor Perspectives

At a time when financial professionals are increasingly looking for differentiated alternative investment products for diversification and return benefits, these are the three things you need to know about the growing asset class.

Assets 111
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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How Bad is Wealth Inequality in America?

A Wealth of Common Sense

Last week I wrote about how the collective net worth of Americans is at a new all-time high. A reader asked a fair follow-up question: I’d be interested in seeing the concentration of that net worth though…I’m guessing it’s an inverted direction. Just because many households are richer than ever doesn’t mean all of them are.

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Thursday links: the minimum level of diversification

Abnormal Returns

Strategy Byrne Hobart, "Decades of above-average net worth compounding are the reward for taking a big idea seriously, continuously refining it, and implementing it in the real world." (capitalgains.thediff.co) No matter the result, remember other stuff could have happened. (systematicindividualinvestor.com) Reddit The Reddit ($RDDT) IPO has priced.

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Kitces & Carl Ep 134: Helping Clients Who Can’t Ever Get To ‘Enough’ (And When They Don’t Really Want To)

Nerd's Eye View

For many financial advicers, helping long-time clients identify and progress toward their goals eventually transitions into conversations around the best ways to enjoy the fruits of their labor once they reach them. Yet, for some clients, making the shift into retirement (or any other new stage of their lives) can often be a challenge for myriad reasons, which places the advisor in a unique position to help these clients understand the roadblocks they face and explore ways to overcome these obst

Clients 168
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Danny Kahneman: What if Everything is Narrative Fallacy?

The Big Picture

“Our comforting conviction that the world makes sense rests on a secure foundation: Our almost unlimited ability to ignore our ignorance.” – Daniel Kahneman The loss of Danny Kahneman is a reminder that we should review some of his work and apply them to the current market. I am fascinated by the idea of Narrative Fallacy (the term was actually coined by Nassim Taleb in “ The Black Swan “) and how it applies to pretty much ewverything.

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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

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.

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March Vehicle Sales Forecast: 15.6 million SAAR, Up 5% YoY

Calculated Risk

From WardsAuto: March U.S. Light-Vehicle Sales Tracking a Steady Course with Potential Upside (pay content). Brief excerpt: If the March forecast holds firm, the first quarter will total a 15.5 million-unit seasonally adjusted annual rate, down from Q4-2023’s 15.7 million but up from like-2023’s 15.0 million. However, the forecasted steady climb in inventory should put sales in good stead to rise above 16-million-unit annualized rates for most of the remainder of 2024. emphasis added Click on gr

Sales 108
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Roger Hobby Named Executive Vice President For Empower Personal Wealth

Wealth Management

Hobby comes over from Fidelity Investments, where he served as the head of distribution for private wealth management, executive services, workplace planning and advice and stock plan services.

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#FA Success Ep 378: Scaling Growth At 1/4th The Cost Of M&A By Wading Through The “No’s” Of SmartAsset Leads, With Michael Collins

Nerd's Eye View

Welcome back to the 378th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Michael Collins. Michael is the CEO & Founder of WinCap Financial, an RIA based in Boston, Massachusetts, that oversees $80M in assets under management for 70 client households. What's unique about Michael, though, is that since 2021 he has been able to grow WinCap Financial at a rate of more than $10M of AUM per year through consistently reaching out to leads purchased through SmartAs

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Are Index Funds Propping Up the Stock Market?

A Wealth of Common Sense

A reader asks: Lots of podcasts have discussed how large cap indexes just keep going up, and maybe that’s pushing P/E ratios too high from people buying index funds (me included). At the same time, mid- and small-cap indices have not seen the same overall growth. Is there a risk that the S&P 500 gets out of hand relative to true value and then there is a fall as all exit at once?

Marketing 114
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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

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.

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New Home Sales at 662,000 Annual Rate in February; Median New Home Price is Down 19% from the Peak

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales at 662,000 Annual Rate in February Brief excerpt: The Census Bureau reports New Home Sales in February were at a seasonally adjusted annual rate (SAAR) of 662 thousand. The previous three months were revised up slightly. The next graph shows new home sales for 2023 and 2024 by month (Seasonally Adjusted Annual Rate).

Sales 107
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$580M Florida Team of Siblings Joins LPL from Merrill Lynch

Wealth Management

The trio of Sarah, William and Dexter Grafton will form Grafton Wealth Advisors by joining LPL's independent broker/dealer channel for advisors from wirehouses or full-service firms.

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Podcast links: celebrity pods

Abnormal Returns

The biz Why every celebrity seemingly now has their own interview podcast. (theguardian.com) Should podcasters care about the potential demise of TikTok? (theverge.com) Podcasts are spreading to every nook and cranny of business. (cupofzhou.com) Economy Stephen Dubner, and guests, on what both parties get wrong about immigration. (freakonomics.com) Ezra Klein talks with demographer Jennifer D.

Economy 245
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Banks’ New Trick Won’t Make Their Risks Disappear

Advisor Perspectives

One big reason the global financial system nearly collapsed in 2008 was that banks had shifted risks into the shadows, relying on insurance-like instruments that proved incapable of absorbing losses.

Banking 93
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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

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Will There be a Fee War in the Housing Market?

A Wealth of Common Sense

When my wife and I began the initial search for our first home, I was against using a realtor. We knew where we wanted to buy. We talked to the bank ahead of time so we knew our budget. We could search for homes online. We were in a good negotiating position because we didn’t have a house to sell (this was back in 2007 when it was hard to sell a house).

Budgeting 100
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Wednesday: Mortgage Applications

Calculated Risk

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.

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11 Investment Must Reads This Week

Wealth Management

Non-traded alternative funds have raised nearly $17 billion so far in 2024, according to the latest data from Robert A. Stanger. Some hedge fund managers are looking to launch ETFs amid a boom in actively-managed funds, reports ETF Stream. These are among the investment must reads we found this week for financial advisors.

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Friday links: remarkable assertions

Abnormal Returns

Commodities Tim McDonnell, "The electricity market isn’t boring anymore." (semafor.com) Steel stocks are having a moment. (allstarcharts.com) AI AI is coming for every company you own. (theirrelevantinvestor.com) How AI could help SaaS companies. (tomtunguz.com) Grocery Large grocery chains took advantage of their supply relationships during Covid shortages.

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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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Ten Tips for Choosing a Daycare That’s Right for You

XY Planning Network

As RIA owners you face a multitude of choices and decisions every day. As a parent, choosing the right childcare center for your little one is one of the most important decisions you'll make. With so many options available, it can be challenging to determine which facility will provide the best care and support for your child's growth and development In most childcare settings you will find very similar environments, schedules, routines, and policies.

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A Big Week for Big Tech

The Irrelevant Investor

In the realm of technology, there exists no phenomenon as transformative and intriguing as the rapid advancement of Artificial Intelligence. Over the past few years, the field of AI has experienced an unprecedented explosion, captivating industries, governments, and societies worldwide. From self-driving cars to personalized recommendation systems, AI’s impact permeates nearly every facet of modern life.

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Weekly Initial Unemployment Claims Decrease to 210,000

Calculated Risk

The DOL reported : In the week ending March 16, the advance figure for seasonally adjusted initial claims was 210,000 , a decrease of 2,000 from the previous week's revised level. The previous week's level was revised up by 3,000 from 209,000 to 212,000. The 4-week moving average was 211,250, an increase of 2,500 from the previous week's revised average.

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