Abnormal Returns

NOVEMBER 2, 2022

Strategy Investing is ultimately based on optimism. danieldrezner.substack.com) Fund management The shift from mutual funds to ETFs has accelerated in 2022. fortunesandfrictions.com) Medical knowledge builds on itself. Financial knowledge not so much. collabfund.com) Five arguments against a value stock revival.

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The Big Picture

FEBRUARY 7, 2024

 At the Money: Stock Picking vs. Value Investing with Jeremy Schwartz, Wisdom Tree. Should value investing be part of that strategy? TRANSCRIPT: Jeremy Schwartz Value Investing Barry Ritholtz : How much you pay for your stocks has a giant impact on how well they perform. What Is value investing?

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Investments Investing Valuation Portfolio 296

Validea

JUNE 2, 2025

Investors looking for a diversified portfolio that performs well in all market conditions have long been drawn to the All Weather Portfolio, a strategy pioneered by Ray Dalio of Bridgewater Associates. The portfolio allocates across U.S. 2022 -19.5% -16.2% 2022 -19.5% -16.2% GLD SPDR Gold Shares 7.5% +380.3%

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The Big Picture

AUGUST 17, 2022

What’s obvious is that cheaper is better than more expensive; that there are inherent costs in managing an active portfolio that include more than just trading and taxes but research, analysis, PMs, etc. Another issue was the “malleability” of belief systems among the academics who research low-cost passive investing.

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Random Roger's Retirement Planning

MAY 28, 2025

Which portfolio result would you rather have? Portfolio 1 is the only choice. The Portfolio 1 has the same longer term result at the S&P 500 but with only 58% of the volatility. You can see just by looking that Portfolio 1 has actually taken a very different path to a similar result as the S&P 500. A little quiz.

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Random Roger's Retirement Planning

MARCH 12, 2025

Let's dig in some more on Permanent Portfolio quadrant style. Next is the allocation for the United States Sovereign Wealth Fund ETF that I made up a few days ago and next to that is my most recent attempt from November to recreate the Cockroach Portfolio which is managed by Mutiny Funds. That is a very specialized type of result.

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Portfolio Taxes Numbers Investments 59

Random Roger's Retirement Planning

MARCH 15, 2025

For today's post, I want to take on what I think are a couple of commonly held beliefs about investing. You're 81 and been taking income from your portfolio for 15 years, what matters to you more, that you can continue to take what you need from your portfolio or that four year run in your mid-50's when you beat (or lagged) the market?

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Portfolio Medical Marketing Marketing 59

Validea

OCTOBER 19, 2022

Market may sometimes need to take a chill-pill, the behavior offers us a chance to reflect on what has happened so we can learn and hopefully improve our investing outcomes in the future. Here are some lessons from 2022 that standout to me. at the start of the year) things are looking brighter for this simple portfolio.

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Investments Investing Valuation Portfolio 128

Abnormal Returns

FEBRUARY 27, 2025

awealthofcommonsense.com) Would you invest in Norway's sovereign wealth fund if you could? newsletter.rationalwalk.com) Berkshire's portfolio highlights the impact of a few key positive outliers. bonddad.blogspot.com) Real home prices are a touch below the 2022 peak. 2024 results. billion in a share tender offer.

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Startup Media Economy Portfolio 147

Nerd's Eye View

OCTOBER 15, 2024

Mark is the Chief Investment Officer of Noble Wealth Management, an RIA based in Greenwood Village, Colorado, that oversees $320 million in assets under management for 160 client households. My guest on today's podcast is Mark Asaro.

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Retirement Portfolio Management Investing 130

Your Richest Life

JANUARY 27, 2025

Your investing strategy is a personal approach based on your goals, life stage and risk tolerance. There are so many different ways to invest, but two of the most common methods youll find are active and passive investing. What is active investing? Active investing involves a hands-on approach to managing your portfolio.

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The Big Picture

JANUARY 3, 2023

Let’s jump into the new year with some fresh observations, some of which are quite surprising: • Astronomical Measures of Time Are Unrelated to Investing : 2023 – a new year! 2022 can be understood as part of that process. through January 4, 2022. Welcome to 2023! It takes the Earth 365 days, 6 hours, 9 minutes, and 9.76

Economy 328

Economy Economics Portfolio Marketing 328

Investment Writing

APRIL 15, 2025

Investment commentary authors often know the markets well, but lack writing and editing expertise. Ive learned some lessons about how to edit investment commentary that I share below with you. Instability in the Middle East will continue, and heres how it affects our investing. 30, 2022, and April 8, 2025.

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Investments Investing Clients Communication 59

The Big Picture

NOVEMBER 27, 2023

Let’s delve into these to see if they apply to your own investing and trading: Instinct : Malcolm Gladwell’s Blink: The Power of Thinking Without Thinking , discusses the strengths and capabilities of the “ adaptive unconscious.” And, it has the advantage of leaving your actual investments alone.

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Marketing Marketing Math Retirement Planning 304

The Big Picture

OCTOBER 4, 2024

Prior to founding Cutter Capital in November 2022, Vincent spent time as a Senior Analyst for Millennium Partners and a Portfolio Manager at Citadel. He explains how he learned market-neutral sector-specific investing at Millenial and Citadel. he generates idiosyncratic investments in the pharmaceutical and biotech space.

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Investing Investments Pharmaceutical Portfolio Management 147

Abnormal Returns

JANUARY 3, 2023

Markets How major asset classes performed in December 2022. capitalspectator.com) 2022 was the third worst year for the 60/40 portfolio. awealthofcommonsense.com) The Dow lead the major indices in 2022. investment in semiconductor manufacturing can only do so much. in 2022 vs. 2021. axios.com) U.S.

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Startup Valuation Financial Advising Distribution 242

The Big Picture

NOVEMBER 2, 2023

Those of you looking for income might consider putting fresh money to work building a bespoke muni portfolio, or buying the appropriate muni fund for your circumstances. ( Previously : Cash Is No Longer Trash (October 27, 2023) Understanding Investing Regime Change (October 25, 2023) How Many Bear Markets Have You Lived Through?

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Taxes Portfolio Marketing Marketing 288

Abnormal Returns

JULY 31, 2023

investmentnews.com) Portfolio management How to evaluate a client's investment portfolio. theatlantic.com) 2022 saw a jump in investment fraud. (riaintel.com) Creative Planning has inked a custody deal with Goldman Sachs ($GS). riabiz.com) Savvy Wealth is pushing hard on the AI front.

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Financial Planner Estate Planning Portfolio Management Retirement 245

The Big Picture

FEBRUARY 14, 2023

Consider this definition: “ Investing is the art of using imperfect information to make probabilistic assessments about an inherently unknowable future.” Similarly, excess fees and overtrading are more likely to hurt our portfolios than crashes. Good investing demands humility. You do not have to have an opinion on everything.

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Investments Investing Management Insurance 299

Nerd's Eye View

APRIL 10, 2024

Every document that considers the facts around any particular asset class will invariably include that disclaimer, but constructing a portfolio consisting of a mix of equities, fixed income, and other assets requires investors and advicers to make some fundamental assumptions around long-term expected returns and correlations between assets.

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Asset Allocation Wealth Accumulation Assets Portfolio 246

A Wealth of Common Sense

NOVEMBER 15, 2022

The more exciting your portfolio, the worse your performance is in this bear market. Those old stodgy blue chip stocks in the Dow that pay dividends and have stable cash flows are crushing the innovation-led stocks that have more potential than profits in 2022. Boring is better this year in the markets.

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Investments Investing Portfolio Marketing 145

The Big Picture

MAY 5, 2023

Instead, there is a tendency to put too much weight onto the numbers themselves, encouraging a variety of changes and modifications to portfolios due to whatever the latest data suggests. (I have long been a fan of the concept of Strong Opinions, Weakly Held ). They are exceedingly high, and we ignore that reality at our own peril.

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Economics Financial Planning Manufacturing Numbers 363

Abnormal Returns

JANUARY 27, 2023

Strategy The investment landscape has completely transformed in the past century. awealthofcommonsense.com) 2022 shows that every portfolio strategy comes under pressure. wsj.com) Intel ($INTC) had a tough 2022 and 2023 isn't looking better. portfoliocharts.com) Why so many investors get caught up in return chasing.

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Financial Advising Distribution Valuation Media 245

Random Roger's Retirement Planning

JANUARY 17, 2025

WAAV seems Permanent Portfolio inspired which is why I threw in AQRIX and PRPFX along with VBAIX as a proxy for a 60/40 portfolio makes sense as a benchmark. Both the ACWI and SPY versions outperformed AQRIX which is sort of a risk parity fund and PRPFX which is the Permanent Portfolio. The results are a mixed bag.

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Portfolio Management Taxes Numbers 52

Abnormal Returns

JANUARY 11, 2023

Markets How does the 60/40 portfolio perform after big down years? economist.com) Alameda Research made a big investment in miner Genesis Digital Assets soon before the FTX unwind. wsj.com) BITO Bitcoin tanked in 2022 but Bitcoin futures ETPs held in there. (wsj.com) Europe Europe has gotten lucky this Winter, weather-wise.

Financial Advising 244

Financial Advising Startup Economy Media 244

Nerd's Eye View

MAY 2, 2025

a ski chalet), assessing whether it will lead to greater overall wellbeing, or, alternatively, more stress, is more challenging Enjoy the 'light' reading!

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Financial Planner CFP Financial Advisor Retirement 164

The Big Picture

APRIL 24, 2023

Third, it is an approach that generally lacks the sort of process essential to good investing. Within the equity portion of your portfolios, they can provide some measure of diversification. Oversimplifying them into narratives or relying on context-free myths will not serve your portfolio well. Markets are complex mechanisms.

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Economics Marketing Marketing Portfolio 299

Nerd's Eye View

MARCH 8, 2024

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that RIA clients of an insurance broker providing Errors & Omissions (E&O) coverage saw a 213% increase in claims paid in 2023, attributed to significant jumps in suitability claims (likely stemming (..)

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Financial Planner Asset Allocation Clients Risk Management 246

Nerd's Eye View

SEPTEMBER 20, 2023

30 years ago, when financial plans relied mainly on constant investment return projections derived from straight-line appreciation and time-value of money calculations, financial advisors began acknowledging and accounting for the variable and uncertain nature of investment returns.

Financial Planning 246

Financial Planning Risk Tolerance Retirement Planning Planning 246

Nerd's Eye View

SEPTEMBER 20, 2023

30 years ago, when financial plans relied mainly on constant investment return projections derived from straight-line appreciation and time-value of money calculations, financial advisors began acknowledging and accounting for the variable and uncertain nature of investment returns.

Retirement 246

Retirement Planning Financial Planning Risk Tolerance 246

Abnormal Returns

MARCH 17, 2023

mattstoller.substack.com) Fund management Tiger Global wrote down the value of its venture portfolio by 33% in 2022. abnormalreturns.com) Don’t waste your emotional capital investing out of spite. (semafor.com) Money moves so quickly making it hard to combat a bank run. mrzepczynski.blogspot.com) The Fed is a bad bank regulator.

Financial Advising 246

Financial Advising Startup Banking Manufacturing 246

The Big Picture

JULY 10, 2024

Investing Is Hard with Brian Portnoy (July 10, 2024) Why is investing so hard? Portnoy has held senior investment roles throughout the hedge fund and mutual fund industries. Portnoy has held senior investment roles throughout the hedge fund and mutual fund industries. It turns out that investing is hard for a reason.

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Investments Investing Numbers Portfolio 147

Random Roger's Retirement Planning

JUNE 2, 2025

We talk about this some but when you try to understand how well a holding has done or how well a portfolio has done, it is important to understand the track record. The Invenomic Fund (BIVIX) that we've looked at a few times is seriously skewed by two phenomenal years in 2021 and 2022 when it was up 61% and then 50%.

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Portfolio Management Assets Banking 59

The Big Picture

FEBRUARY 19, 2024

We can make changes to how we think about risk, what our portfolio allocations are, what information we read — everything that goes into how we invest. Most importantly, I rely on a lot of specific methodologies and thoughts about how and what we do when it comes to thinking about investment strategies. A few examples: 1.

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Investments Investing Portfolio Economy 130

Nerd's Eye View

APRIL 5, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that customer arbitration claims related to the SEC's Regulation Best Interest (Reg BI) nearly doubled between 2022 and 2023, suggesting that greater awareness among investors of the increased standards for broker-dealers and their (..)

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Financial Planner Fee Only Clients Investing 246

Random Roger's Retirement Planning

JUNE 14, 2024

With so much allocated to T-bills, it makes sense that the standard deviations of the barbell portfolios is so much lower. The 2022 results, not captured above are also interesting. We can only get the last 11 months of 2022 but it is still interesting.

Portfolio Management 98

Portfolio Management Portfolio Management Taxes 98

Abnormal Returns

FEBRUARY 13, 2023

Podcasts Daniel Crosby talks with Tom Howard about behavioral finance vs. behavioral investing. etf.com) Things to keep in mind when direct indexing a client's portfolio. riabiz.com) The number of CFPs grew some 5% in 2022. (fa-mag.com) flowfp.com) The IRS has clarified its approach to state rebate payments.

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Clients Retirement Financial Services Taxes 245