Abnormal Returns
MAY 28, 2024
Research Average performance can obscure some bad outcomes. (portfoliocharts.com) No matter where you look, momentum shows up. (alphaarchitect.com) Why don't more investors use equal-weighted indices? (mrzepczynski.blogspot.com) How LLMs can be used to do security analysis. (papers.ssrn.com) Hedge funds outperform when markets are expensive. (mrzepczynski.blogspot.com) How fund flows can cause an unsustainable feedback loop.
Nerd's Eye View
MAY 29, 2024
Small business owners often treat their businesses not only as their source of income during their working years, but also as an asset that can be sold to fund their retirement. And while many businesses can build up substantial value over the years, the downside is that, when that value is realized upon the sale of the business, a large amount of it is treated as taxable income.
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Nerd's Eye View
MAY 24, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that amidst growing cybersecurity threats targeted at the finance industry, the SEC adopted final amendments to Regulation S-P that will require SEC-registered RIAs and other financial firms to develop, implement, and maintain written policies and procedures for an incident response program to detect, respond to, and recover from unauthorized access to or use of customer inform
The Big Picture
MAY 26, 2024
Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • Realtors Are in Crisis—and Home Buyers Could Be the Winners : A wave of lawsuits over fees paid to agents has put the giant trade association on the defense; ‘it got arrogant’ ( Wall Street Journal ) see also Powerful Realtor Group Agrees to Slash Commissions to Settle Lawsuits : The National Association of Realtors will pay $418 million in damages and will amend several rules that housing experts say wil
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
Calculated Risk
MAY 29, 2024
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 5.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 24, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.7 percent on a seasonally adjusted basis from one week earlier.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
MAY 26, 2024
Mentions Sam Ro's favorite free finance newsletters. (tker.co) The 18 best investing blogs of 2024. (thecollegeinvestor.com) Top clicks this week The 18 best investing blogs of 2024. (thecollegeinvestor.com) 11 investing principles from Bill Miller including how to avoid value traps. (investmenttalk.co) Sam Ro's favorite free finance newsletters. (tker.co) Why don't more people engage in probabilistic thinking?
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 30, 2024
What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For April, Realtor.com reported inventory was up 30.4% YoY, but still down almost 36% compared to April 2017 to 2019 levels. Now - on a weekly basis - inventory is up 36.5% YoY. Realtor.com has monthly and weekly data on the existing home market.
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.
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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.
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 28, 2024
Welcome everyone! Welcome to the 387th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jenny Martella. Jenny is a Principal and Wealth Manager at Modera Wealth Management, an RIA based in Westwood, New Jersey, that oversees $12.5 billion in assets under management for approximately 4,700 client households. What's unique about Jenny, though, is how she and her previous business partner were so successful in the early years of growing their advisory firm, that the
Wealth Management
MAY 30, 2024
The latest fundraising marks the fifth iteration of the firm’s Loan Partners fund, a series that got off the ground in 2008.
Calculated Risk
MAY 28, 2024
Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 6.5% year-over-year in March; FHFA: House Prices Increased 0.1% in March, up 6.6% YoY Excerpt: S&P/Case-Shiller released the monthly Home Price Indices for March ("March" is a 3-month average of January, February and March closing prices). March closing prices include some contracts signed in November, so there is a significant lag to this data.
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.
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.
Abnormal Returns
MAY 27, 2024
Podcasts Josh Brown and Michael Batnick talk to the one and only Nick Murray. (downtownjoshbrown.com) Brendan Frazier talks about how to do better intro meetings. (wiredplanning.com) The biz CI Financial is giving its U.S. affiliate Corient some additional financial flexibility. (riabiz.com) Betterment continues to double down on the adviser channel.
Nerd's Eye View
MAY 27, 2024
The first few years of building an advisory firm from scratch are typically the most demanding for solo advisors since this often means putting oneself 'out there' as much as possible – working through lead generation services, trying to network with Centers Of Influence (COIs) and the community at large, and battling through all of the "no" s needed to get a "yes" (and therefore a client).
Wealth Management
MAY 28, 2024
A pension expert says millions will find they can’t afford to quit their jobs, while others may be forced out of work before their nest egg is ready.
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.
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
Trade Brains
MAY 24, 2024
We all know that the pharmaceutical industry is a complex ecosystem where countless components converge to produce life – saving medicines. A reliable supply of these components is fundamental for the smooth functioning of this industry, impacting everything from development timelines to patient access to meditation. Here’s where Sigachi industries play a major role through their production of Microcrystalline Cellulose (MCC).
Abnormal Returns
MAY 26, 2024
Markets Consumer discretionary stocks have been underperforming for awhile now. (allstarcharts.com) Every big market trend eventually hits an 'air pocket.' (downtownjoshbrown.com) Strategy The economy is not the stock market, and vice versa. (awealthofcommonsense.com) Why you should pay attention to your emotions when investing. (wsj.com) Some words of wisdom from Ed Borgato.
Nerd's Eye View
MAY 30, 2024
Over the past couple of decades, the financial advice industry has seen a tremendous shift as the focus has evolved away from being primarily transaction-based and towards forming long-term service-based relationships with clients. Yet, one of the hurdles advicers have faced along the way is figuring out how to demonstrate the seemingly intangible value of financial planning as a service.
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!
Wealth Management
MAY 23, 2024
Financial advisors were split on the current state of the economy, while a majority held a positive view of the stock market in April, according to WealthManagement.com's Advisor Sentiment Index.
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 24, 2024
One of the best parts of being a young college graduate, and naïve to the grim realities of the working world, is being deluded about how great your career will be. Maybe you’ll found the next Nvidia, or win the Nobel Prize in your field, or start a charity that will make the world a better place.
Abnormal Returns
MAY 25, 2024
Autos How thieves exploit loopholes to steal keyless cars. (fastcompany.com) This police department has gone electric with Tesla ($TSLA) Model Ys. (thecooldown.com) Your next Airbnb may have a charging station. (fastcompany.com) Used cars The safest used cars for teenagers. (axios.com) How to not get screwed buying a used car. (kottke.org) Roads Congestion pricing is coming to Manhattan.
Speaker: Lynnette Khalfani-Cox, The Money Coach®
Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?
Calculated Risk
MAY 30, 2024
From the NAR: Pending Home Sales Slumped 7.7% in April Pending home sales in April fell 7.7% , according to the National Association of REALTORS®. All four U.S. regions registered month-over-month and year-over-year decreases. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – decreased to 72.3 in April.
Wealth Management
MAY 23, 2024
After a dozen years in the wirehouse world, Reza Zamani began to recognize the limitations inherent to the model. So in 2012, he left to launch SteelPeak Wealth with $250 million in AUM. Today, it manages $3 billioon with 20 advisors on the team.
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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