Wealth Management

OCTOBER 5, 2023

Sixty-nine new ETFs came to market last month, one of the busiest since at least 2016.

Marketing 272

Marketing Marketing 272

Wealth Management

FEBRUARY 14, 2024

Doris Meister, who has led Wilmington since 2016, will be leaving her role by the end of May.

Wealth Management 272

Wealth Management Management 272

Nerd's Eye View

NOVEMBER 20, 2024

Which might require advisers to periodically scrub the roster of mutual funds they purchase for clients to confirm that no lower-cost share class alternatives are available and that clients with existing mutual fund holdings are not eligible for a tax-free conversion to a lower-cost share class within the same mutual fund.

Fiduciary Duty 241

Fiduciary Duty Clients Commission Accounting 241

Alpha Architect

NOVEMBER 8, 2024

Greenwood and Sammon’s findings of a disappearing index effect provides further support for the findings of McLean and Pontiff, Does Academic Research Destroy Stock Return Predictability? Once anomalies are well recognized by the market they decline and may even disappear, though limits to arbitrage can allow them to persist.

Marketing 113

Marketing Marketing Management Investing 113

Advisor Perspectives

MAY 7, 2025

Record gold prices drove first-quarter demand in 2025 to the highest level since 2016.

40

40

Wealth Management

JUNE 27, 2025

Michael was instrumental during AssetMark’s leveraged buyout transition to Genstar in 2013, its sale to Huatai Securities in 2016, its IPO in 2019, and its sale to GTCR in 2024. Before joining AssetMark, Michael was a Senior Vice President at Fidelity’s Institutional Wealth Services.

Estate Planning 268

Estate Planning Marketing Marketing Wealth Management 268

Calculated Risk

AUGUST 19, 2022

Notes: The expansion to the Panama Canal was completed in 2016 (As I noted a few years ago ), and some of the traffic that used the ports of Los Angeles and Long Beach is probably going through the canal. This might be impacting TEUs on the West Coast.

Retail 359

Retail 359

Wealth Management

MAY 16, 2023

Wells Fargo was accused of making misleading statements about its compliance with federal consent orders following the 2016 scandal involving the opening of unauthorized customer accounts.

Compliance 246

Compliance Accounting 246

Calculated Risk

JUNE 18, 2023

Notes: The expansion to the Panama Canal was completed in 2016 (As I noted several years ago ), and some of the traffic that used the ports of Los Angeles and Long Beach is probably going through the canal. This might be impacting TEUs on the West Coast.

Retail 347

Retail 347

A Wealth of Common Sense

MARCH 16, 2025

Coming into 2025 the S&P 500 had just two down years out of the past 15: 2010 +14.8% 2024 +24.9% We were all probably a little spoiled. Regardless of the reason for the recent swoon, we were due.

118

118

Calculated Risk

JUNE 19, 2025

With inventory climbing, and sales depressed, months-of-supply is at the highest level since 2016 (excluding start of pandemic) putting downward pressure on house prices in an increasing number of areas. The median list price per square foot—which adjusts for changes in home size—rose 0.7% year over year.

Sales 165

Sales Numbers 165

The Big Picture

AUGUST 14, 2023

Previously : Nobody Knows Nuthin’ (May 5, 2016) Can Anyone Catch Nokia?

246

246

Calculated Risk

JANUARY 5, 2025

Real GDP Growth Year Annual GDP Q4 / Q4 2005 3.5% 2008 0.1% -2.5% 2009 -2.6% 2020 -2.2% -1.0% 2024 1 2.8% 1 2024 estimate based on 2.8% Q4 SAAR annualized real growth rate.

Economy 173

Economy Economics Sales Investing 173

Wealth Management

APRIL 13, 2023

Mack led Wells Fargo Advisors from 2014 until mid-2016.

Retirement 217

Retirement 217

Wealth Management

JUNE 16, 2023

The SEC said on Friday that Pimco failed to disclose key information to investors about how swaps could impact its PIMCO Global StocksPLUS & Income Fund between 2014 and 2016.

222

222

The Big Picture

MARCH 28, 2024

Previously : MiB: Danny Kahneman on Heuristics, Biases & Cognition (August 9, 2016) Tversky and Kahneman Changed How We Think (December 5, 2016) Some MIB background, Danny Kahneman Interview (February 15, 2017) The post Danny Kahneman: What if Everything is Narrative Fallacy? appeared first on The Big Picture.

Manufacturing 340

Manufacturing Economy Economics Marketing 340

Calculated Risk

JUNE 26, 2023

(Dashed line) Air travel - as a percent of 2019 - is tracking pre-pandemic levels. -- Movie Tickets: Box Office Mojo -- This data shows domestic box office for each week and the median for the years 2016 through 2019 (dashed light blue). Black is 2020, Blue is 2021 and Red is 2022. The data is from BoxOfficeMojo through June 22nd.

Transportation 352

Transportation Numbers Sales 352

Calculated Risk

JULY 3, 2025

rail intermodal volume averaged 260,834 units per week, below the 2016-2005 average for June of 263,991. June’s decline comes amid broader uncertainties impacting global supply chains that have tempered international shipments. In June 2025, U.S. Meanwhile, total U.S.

Economy 147

Economy Economics Marketing Marketing 147

Calculated Risk

NOVEMBER 7, 2022

(Dashed line) Air travel - as a percent of 2019 - has picked up recently. -- Movie Tickets: Box Office Mojo -- This data shows domestic box office for each week and the median for the years 2016 through 2019 (dashed light blue). Black is 2020, Blue is 2021 and Red is 2022. The data is from BoxOfficeMojo through November 3rd.

Economy 343

Economy Transportation Numbers Sales 343

Calculated Risk

JANUARY 10, 2024

Change in Payroll Jobs per Year (000s) Total, Nonfarm Private Public 1997 3,406 3,211 195 1998 3,048 2,735 313 1999 3,181 2,720 461 2000 1,938 1,674 264 2001 -1,733 -2,284 551 2002 -515 -748 233 2003 125 167 -42 2004 2,038 1,891 147 2005 2,528 2,342 186 2006 2,092 1,883 209 2007 1,145 857 288 2008 -3,549 -3,729 180 2009 -5,041 -4,967 -74 2010 1,027 (..)

Economy 298

Economy Manufacturing Economics Sales 298

Calculated Risk

AUGUST 8, 2022

Black is 2020, Blue is 2021 and Red is 2022. The data is from BoxOfficeMojo through August 4th. Note that the data is usually noisy week-to-week and depends on when blockbusters are released.

Economy 351

Economy Transportation Numbers Sales 351

Calculated Risk

SEPTEMBER 12, 2022

Travel has picked up recently, compared to 2019, perhaps due to the timing of Labor Day. -- Movie Tickets: Box Office Mojo -- This data shows domestic box office for each week and the median for the years 2016 through 2019 (dashed light blue). Black is 2020, Blue is 2021 and Red is 2022. The data is from BoxOfficeMojo through September 8th.

Economy 363

Economy Transportation Numbers Sales 363

Calculated Risk

JUNE 26, 2025

With inventory climbing, and sales depressed, months-of-supply is at the highest level since 2016 (excluding the start of pandemic) putting downward pressure on house prices in an increasing number of areas.

Sales 147

Sales Numbers Marketing Marketing 147

Calculated Risk

JUNE 27, 2025

Months-of-supply is at the highest level since 2016 (tying one month near the start of the pandemic). • The YoY comparisons will be easier the next several months, so sales in 2025 might be close to the level in 2024. Sales SA were down YoY for the 4th consecutive month and 41 of the last 45 months.

Sales 147

Sales Marketing Marketing 147

Calculated Risk

SEPTEMBER 26, 2022

Travel has picked up recently compared to 2019. -- Movie Tickets: Box Office Mojo -- This data shows domestic box office for each week and the median for the years 2016 through 2019 (dashed light blue). (Dashed line) Air travel - as a percent of 2019 - had been moving sideways over the last several months, off about 10% from 2019.

Economy 345

Economy Transportation Numbers Sales 345

The Big Picture

SEPTEMBER 6, 2023

 In 2016, I wrote about the novelist and screenwriter William Goldman, and his delightful book, “ Adventures in the Screen Trade.” John Wick is yet another reminder about just how little any of us know about what might happen in the future… Previously : Nobody Knows Nuthin’ (May 5, 2016) Can Anyone Catch Nokia?

Distribution 304

Distribution Retirement Sales 304

The Big Picture

AUGUST 26, 2022

Previously : Bill Miller: Closet Indexers Are Killing Active Investing (October 28, 2016). Do No Harm (March 20, 2016). See also : Backstage Wall Street: An Insider’s Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments. First Rule of Running Other Peoples’ Money? Fiduciary Rule.

Accounting 353

Accounting Government Assets Management 353

Calculated Risk

SEPTEMBER 5, 2022

Travel has picked up recently, compared to 2019, perhaps due to the timing of Labor Day. -- Movie Tickets: Box Office Mojo -- This data shows domestic box office for each week and the median for the years 2016 through 2019 (dashed light blue). Black is 2020, Blue is 2021 and Red is 2022. The data is from BoxOfficeMojo through September 1st.

Economy 351

Economy Transportation Numbers Sales 351

Calculated Risk

SEPTEMBER 25, 2023

(Dashed line) Air travel - as a percent of 2019 - is tracking above pre-pandemic levels. -- Movie Tickets: Box Office Mojo -- This data shows domestic box office for each week and the median for the years 2016 through 2019 (dashed light blue). Black is 2020, Blue is 2021 and Red is 2022. The data is from BoxOfficeMojo through September 21st.

Transportation 321

Transportation Numbers Sales 321

Calculated Risk

AUGUST 2, 2022

In total, non-housing balances grew by $103 billion, the largest increase seen since 2016. Other balances–which includes retail cards and other consumer loans –increased by a robust $25 billion. Mortgage originations slightly declined in the second quarter and stood at $758 billion.

Retail 363

Retail Banking Accounting 363

Calculated Risk

NOVEMBER 1, 2022

The CLL was at $417,000 from 2006 through 2016, and only increased slightly in 2017 as the house price index caught back up to the previous high reached during the housing bubble. A brief excerpt: The Official Limits will be released On Tuesday, November 29th. This graph shows the CLL since 1979.

Sales 275

Sales 275

Calculated Risk

AUGUST 1, 2022

Black is 2020, Blue is 2021 and Red is 2022. The data is from BoxOfficeMojo through July 28th. Note that the data is usually noisy week-to-week and depends on when blockbusters are released.

Economy 360

Economy Transportation Numbers Sales 360

NAIFA Advisor Today

FEBRUARY 6, 2025

Previously, he served terms on the FSP National Board of Directors from 2011 through 2016. McGlothlin served on the Society of FSP National Executive Committee from 2018 to 2021 and was National President in 2020-2021. He was President and Director of the Society of FSP Central Indiana Chapter from 2002 through 2005.

Ethics 138

Ethics Education Retirement Planning CFP 138

Calculated Risk

AUGUST 3, 2022

The CLL was unchanged from 2006 though 2016. For Los Angeles County, the CLL is $970,800 for one-unit properties (50% higher than the baseline CLL). This graph shows the CLL since 1979. The adjustment is based on the House Price Index value in Q3 divided by Q3 in the prior year. The FHFA index is a repeat sales index, similar to Case-Shiller.

Insurance 279

Insurance Numbers Sales 279

Calculated Risk

FEBRUARY 26, 2023

(Dashed line) Air travel - as a percent of 2019 - is back to pre-pandemic levels. -- Movie Tickets: Box Office Mojo -- This data shows domestic box office for each week and the median for the years 2016 through 2019 (dashed light blue). Black is 2020, Blue is 2021, Orange is 2022 and Red is 2023.

Transportation 243

Transportation Numbers Sales 243

Nerd's Eye View

JULY 10, 2023

But as market trends changed (with the performance of this asset class falling behind large-cap stocks during the 2010s) and clients entered retirement (often consolidating their investment management with 1 advisor), Eliot Rose started losing clients, eventually becoming unprofitable in 2016, the year Jason became president of the firm.

Financial Planning 246

Financial Planning Retirement Planning Clients 246

The Big Picture

JUNE 30, 2023

June 29, 2023) Groping for a Bottom (October 14, 2022) Nobody Knows Nuthin’ (May 5, 2016) Too Many Bears (May 3, 2022) Capitulation Playbook (May 19, 2022) Nobody Knows Anything Predictions and Forecasts _ 1. . ~~~ Enjoy the holiday weekend, and stay safe out there… Previously : What Do You Believe?

Numbers 324

Numbers Investing Investments Management 324