What My 22-year-old Niece Taught Me About the Future of Wealth Management
Wealth Management
NOVEMBER 17, 2023
The tax code may be complicated, but it's got nothing on TikTok slang.
about-me 
Have Yourself a Merry Little Christmas
The Big Picture
DECEMBER 24, 2023
Her version of this little tune gives it an entirely different read than the original Judy Garland take from Meet Me in St Louis. I have a new project in the works that I just want to kick back and think about for a while. Your kind words mean a lot to me, and I wish you all a very happy holiday and a healthy new year.
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Cancelling Michael Lewis
The Big Picture
OCTOBER 5, 2023
I got a copy earlier after signing an NDA that I would not disclose anything about it until after the publication date, which was Tuesday, October 3rd. My favorite Twitter reaction to the broadcast interview might have been “ ARE YOU KIDDING ME?” She insisted, and I was on the phone with him (mostly listening) for about an hour.
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500!
The Big Picture
JULY 7, 2023
1 I have described the inspiration for the show as “ an audio version of Market Wizards ” but the actual pitch to Bloomberg was “Mark Maron’s WTF meets Charlie Rose” (that was before we knew about his, um, behavior). Meet interesting people : My dark little secret is that the show actually has an audience of just one: Me.
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Update: At the Money
The Big Picture
APRIL 13, 2024
I wanted to share a few thoughts about the new podcast we formally launched in December of last year, At the Money. The idea behind the show: Short, focused conversations with experts about any and all issues that affect you and your money, from spending it to investing it.
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This Week on TRB
The Reformed Broker
JANUARY 21, 2023
A very New York night, really reminded me of what I love so much about this town, despite its flaws and annoyances. That’s after doing Closing Bell from the NYSE and then a quick slice at Joe’s Pizza (“Famous Since 1975). The Knicks lost but we definitely won .
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Avoiding Financial Disasters
The Big Picture
FEBRUARY 22, 2023
I’ve been doing these sorts of updates for decades and while it’s a solid 20 to 40 hours of prep work, it’s become second nature for me. But creating a full 30-minute presentation from scratch takes much longer – about 50-100 hours of work, practice runs, adjustments, etc. Of the 35 slides, 30 were brand new.
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The Most Important Concept in Finance
A Wealth of Common Sense
MARCH 31, 2024
1 He writes about what it was like to finally win his first Grand Slam tournament at Wimbledon. Winning, however, didn’t change how he felt about himself: But I don’t feel that Wimbledon has changed me. I’m really late on this one, but I finally got around to reading Andre Agassi’s autobiography.1
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This Week on TRB
The Reformed Broker
JANUARY 7, 2023
We’ve got lots of projects and initiatives underway at Ritholtz Wealth, some of which you’ll be hearing about from me very soon. Great to be back in the saddle this week, working with our new president as we prepare for 2023 and beyond. The post This Week on TRB appeared first on The Reformed Broker.
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Peak Substack?
The Big Picture
FEBRUARY 10, 2023
Not content with taking over my email, Substack now wants to recommend more Substacks I should subscribe to, plus every existing Substacker gives me 3 of their other substacks to cross-promote. I scan WSJ or FT or WaPo or NYT online and see lots of things that interest me from their home page or directory. Please stop.
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Handling a difference of opinion between a client and their child
Million Dollar Round Table (MDRT)
APRIL 7, 2024
By Adam Thomas Rex, CFP, AIF A good client of mine wanted me to start working with his son, who was getting ready to graduate from medical school and had basically graduated debt-free because of his mom and dad’s contributions toward college. ” That was an incredibly difficult conversation.
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Choosing A Financial Advisor? – Ask These 6 Questions
The Chicago Financial Planner
FEBRUARY 2, 2024
Ask your financial advisor about their client base. If you are a corporate employee looking for help planning for the exercise of your stock options, you should ask the adviser about their knowledge and experience in dealing with clients like you. What can you do for me? Are we the exception or the norm for you?
Top 0.1%: How Much Wealth Does It Take?
The Big Picture
DECEMBER 5, 2022
I was working on a longer piece about which economic strata the Fed has the greatest impact on (its more complicated than you might think) when Invictus DM’d me this amazing FRED chart. We looked at this idea earlier this year , but it’s worth revisiting. million for next 9% (rest of top 10%). 0$ for the bottom 50%.
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MiB: Hannah Elliott on Hypercars & EVs
The Big Picture
JULY 30, 2022
NOTE : During the broadcast portion, we had the usual Q&A but in the podcast portion, this turned into a conversation; Hannah made the mistake of asking me a question and we were off to the races of me babbling about cars with one of the most knowledgeable automobile journalists out there. Hannah Elliott Favorite Books.
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Will Higher Rates Spell Doom For the Stock Market?
A Wealth of Common Sense
APRIL 25, 2024
Bill Artzerounian joined me again this week to tackle questions about automating your finances, the tax implications of a company sale, how to offset RWM taxes and the pros and cons of a Roth 401k.
Marketing 80
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Boxes & Lines: Poking Holes in the Financial Status Quo
The Big Picture
SEPTEMBER 15, 2023
Join us for a thought-provoking live podcast event from IEX Exchange’s “Boxes and Lines” podcast hosted by Ronan Ryan and John Ramsay, as they take on the latest trends, innovations, and technologies shaping e-commerce and web3 This week’s edition: Me !
RWM is Coming to Charlotte!
The Big Picture
OCTOBER 11, 2023
I am heading to Charlotte next month, and I will be bringing a full complement of the crew with me! You can join me, Josh Brown, Michael Batnick and Blair duQuesnay and several of our financial advisors, including Managing Partner Kris Venne, and Ritholtz Wealth’s President, Jay Tini. and we’ll help you get scheduled.
Americonned
The Big Picture
JUNE 16, 2023
To put it in numbers: Their share has gone from about 23% to about 32%. In dollar terms, their share has skyrocketed from just under $5 trillion to about $45 trillion.
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This Week on TRB
The Reformed Broker
MAY 20, 2023
I’m coming out to Texas and I’m bringing the squad with me. June 12th, 13th, and 14th we’ll be posted up downtown ready to talk about your portfolio, your plan, your estate situation, your retirement and anything else you’re looking for answers about.
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Podcast links: the practical uses of AI
Abnormal Returns
AUGUST 11, 2023
AI Patrick O'Shaughnessy talks with Des Traynor is the co-founder and Chief Strategy Officer of Intercom about the practical uses of AI. joincolossus.com) Russ Roberts talks about the state of AI with Zvi Mowshowitz. econtalk.org) Business Tyler Cowen talks with Paul Graham about the art of evaluating talent.
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10 Weekend Reads
The Big Picture
MARCH 23, 2024
link] • Why Zillow is worried about America’s housing market shakeup. link] • Backyard Bird Diary : While watching hummingbirds buzz around me, I recalled a fantasy every child has: that I could win the trust of wild animals and they would willingly come to me. I imagined tiny avian helicopters dining on my palm.
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Transcript: Tim Buckley, Vanguard’s CEO
The Big Picture
FEBRUARY 21, 2023
BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: I am super excited about this week’s Masters in Business Live with Vanguard Group CEO Tim Buckley. I got to sit with Tim for about an hour and ran through about 45 minutes’ worth of questions, and we took some questions from the audience. You’re his — BUCKLEY: Yeah.
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Longform links: seeking meaning
Abnormal Returns
NOVEMBER 23, 2023
propublica.org) Entertanment Andrew Trees, "But the beauty of Netflix was that it could keep track of all of those films for me until the queue itself became a kind of biography of the various phases of my life." undark.org) Little was known about the Canada jay until Dan Strickland came along. npr.org)
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10 Weekend Reads
The Big Picture
APRIL 27, 2024
The Atlantic ) see also Tesla’s in its flop era : The company’s sales are falling, its stock is dropping, and even its most ardent supporters are stressed about where it’s all heading. ( Here’s Why He Made One Anyway : The billionaire comedian could be doing anything with his time and talent, so why did he direct a movie about Pop-Tarts?
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Monthly NFPs Are Rounding Errors
The Big Picture
DECEMBER 8, 2023
That is a significant number to recall whenever people posit we either are in, or just were in, or are about to tumble into a recession. Consider that about 3.6 It was that 157.087 million people are employed full-time in the United States.1 Secondly, it is useful to provide context to help avoid denominator blindness.
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Do I need to use the (r) mark with my CFP designation?
Investment Writing
FEBRUARY 6, 2024
This question spurred me to do some research on whether one must always write “CFP ®.” Upon doing research, I discovered that the rules for me as a reporter and blogger differ from the rules for you as a CFP certificant. By the way, the CFP Board also has rules about what words you bundle together with “CFP ®.”
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Rich Author, Poor Readers
A Wealth of Common Sense
DECEMBER 15, 2023
It never really did it for me but I can see why people latch onto the allegory he shares about learning the right financial habits. Robert Kiyosaki wrote one of the most-read personal finance books of all time — Rich Dad, Poor Dad. I read it early on in my career.
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10 Monday AM Reads
The Big Picture
OCTOBER 30, 2023
My what am I doing in Orlando morning plane reads: • It’s Time to Stop Crying About Bonds and Buy Them Instead : Treasuries have had one of their worst three-year stretches on record. Why it can’t get much worse. Barron’s ) • Is E.S.G. Falling Out of Favor? Does it actually work? ( Aeon ) • Hear that?
America’s Enormous Math Mistake’s Mistake
The Big Picture
JULY 21, 2023
Who ya gonna believe, me or your lyin’ eyes or our jiggered stats? I must mention it was Ritholtz who made me aware of the video, manipulative bastard that he is, knowing full well that it would trigger me, sending me down a rabbit hole. Owe you one, Barry). But I digress. Imagine that.
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When Should You Hire a Financial Advisor?
A Wealth of Common Sense
FEBRUARY 15, 2024
Josh Brown joined me again this week to discuss questions about career advice for younger advisors, when it makes sense to hire a financial advisor for retirement, 401ks vs. brokerage accounts and how to deploy cash in the face of all-time highs in the stock market. Further Reading: How Rich Are the Baby Boomers?
Worry About the Right Things
The Irrelevant Investor
APRIL 8, 2023
“Do you know the difference between me and you? Me: Happy, happy, happy, dead. The post Worry About the Right Things appeared first on The Irrelevant Investor. You: Worry, worry, worry, dead.” ” – Catch-22. The only way to develop respect for ri.
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What is the Historical Rate of Return on Housing?
A Wealth of Common Sense
JANUARY 18, 2024
Stocks, bonds, and cash are the categories to compare but it hit me as a “boomer” retired, what about home ownership as a comparison? A reader asks: Ben, I love reading your work.
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This Week on TRB
The Reformed Broker
AUGUST 26, 2023
Thanks so much for spending some time with me this week. I know there are a lot of places you can go to read market commentary or hear people’s opinions about what’s going on. The choice you’ve made to make my stuff part of your routine is much appreciated. I know that you don’t give that time up for nothing.
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Passive vs. Active
The Big Picture
AUGUST 17, 2022
There are parts of our discussion I thought were obvious, but he convinced me as underappreciated: First and foremost, the intense disruption of low-cost funds and ETFs. Can someone explain to me how all of this dislocation and volatility is somehow being caused by low-cost passive indexing? Poses a frightening systemic risk.
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Does Return Stacking With Managed Futures Work?
Random Roger's Retirement Planning
APRIL 7, 2024
Let's have a little fun with a difference of opinion about how to incorporate managed futures into a portfolio between to big proponents, Corey Hoffstein from ReturnStacked ETFs and Andrew Beer who runs the iMPG DBi Managed Futures Strategy ETF (DBMF). Both of them talk about how to add managed futures to a portfolio.
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Get the Big Things Right
The Irrelevant Investor
FEBRUARY 17, 2024
Before I embarrass myself, let me say that I get the big things right, and it’s the big things that matter. Let’s talk about my investments. I did something dumb and irrational with my investments last week. I have a mortgage on a house that I can afford.
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Join The Bond Market Resistance!
Random Roger's Retirement Planning
APRIL 22, 2024
This quote from Jason surprised me. Ok, well just about every pundit on TV and news print was saying to add duration. For however long I've been a broken record on this, I've avoided trying predict anything since probably 2010, I learned a lesson at some point back then about how silly it is to try to predict interest rates.
Marketing 75
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The Holy Grail of Portfolio Management
A Wealth of Common Sense
JANUARY 16, 2024
The interesting thing to me about producing these chart. Our firm would create a Harry Markowitz efficient frontier chart for every client portfolio. The idea was to show that risk comes not from individual holdings but how those holdings work together to reduce overall portfolio risk.
Proven strategies and mindset for achieving Top of the Table every year
Million Dollar Round Table (MDRT)
FEBRUARY 25, 2024
It’s about doing the right things daily. This tells me how many of those days I need as focus days. That’s the level of discipline and focus that enables me to hit Top of the Table. Then suddenly I found out about this new world of Top of the Table, and it opened my mind about what could be achieved.
Clients 87
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How to create more referrals
Million Dollar Round Table (MDRT)
OCTOBER 31, 2023
The way I do this is to ask a favorite client to meet me for coffee or lunch. When I meet with them in this informal setting, I ask them their view about how they like my work. Client, you are a very important person and client for me, and I would like to ask for your help. What do you like about my work?
Clients 89
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Ideas from the 2023 MDRT Annual Meeting
Million Dollar Round Table (MDRT)
JULY 18, 2023
Even if the client’s friend asks me about my product and services, I deftly deflect the query and fix another mutually convenient time to discuss this. During the recommendation meeting, the client recommending me should ideally be talking about me to his friend and talk about his friend to me.
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Massive growth with targeted referrals and introductions
Million Dollar Round Table (MDRT)
MARCH 19, 2023
Now when we talk to clients, we say the following: “Tell me about your family. Tell me about your brothers and sisters. Tell me about your parents. Tell me about your children. Tell me about whom you work with.” Then we changed to being more focused. What do they do for a living?
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Don't Move The Goal Post On Your Financial Security
Random Roger's Retirement Planning
APRIL 18, 2024
The price, without reinvesting dividends has fallen by about 24% but as I've been saying all along with these, if the entire dividend is taken out and spent, they are likely to go to zero (not quite literally). in about seven months. I have no complaints about the fund or the concept. At some low price they will reverse split.
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30 Years of Financial Market Returns
A Wealth of Common Sense
APRIL 28, 2024
A colleague recently asked me to run the 30 year annual returns for U.S. First the annual return numbers for the S&P 500, 10 year treasuries and 3 month T-bills over the 30 years ending in 2023: Some thoughts about these numbers: St. stocks, bonds and cash. He just wanted the returns. Let’s dig in.
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