Abnormal Returns
MARCH 21, 2024
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.
The Big Picture
MARCH 16, 2024
The weekend is here! Pour yourself a mug of coffee, grab a seat by the fire, and get ready for our longer-form weekend reads: • How a Physics Whiz Made a Fortune Betting on Nature’s Catastrophes : John Seo used his scientific knowledge to develop a winning formula for trading catastrophe bonds — a market that’s booming thanks to climate change and inflation. ( Bloomberg Green ) • How neuroscience can help you make tough decisions – with no regrets : Most people are too risk-averse when it
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Nerd's Eye View
MARCH 18, 2024
Soliciting prospect referrals can often be an effective way for financial advisors to grow their firms with clients who are ready to act and who will benefit from the firm since many referrals come from sources that are familiar not just with the advisor and the services they offer, but also with the prospect being referred and the needs they seek. This is particularly true when referrals come from Centers of Influence (COIs) – professionals who are trusted by their circles to influence id
Calculated Risk
MARCH 20, 2024
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 1.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 15, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.6 percent on a seasonally adjusted basis from one week earlier.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Abnormal Returns
MARCH 19, 2024
Behavior Another form of home bias at work. (klementoninvesting.substack.com) Is there an issue with self-reported happiness measures? (papers.ssrn.com) Factors A mechanism by which quality stocks outperform. (klementoninvesting.substack.com) On the benefits of combining fast and slow momentum models. (alphaarchitect.com) Harvesting premia requires sticky capital.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Nerd's Eye View
MARCH 22, 2024
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
Wealth Management
MARCH 20, 2024
Supporters and critics of the proposed rule are setting up discussions with the Office of Management and Budget, one of the last steps before the final rule will be revealed.
Abnormal Returns
MARCH 17, 2024
Markets Market valuations aren't that helpful in the short term. (tker.co) The U.S. yield curve has been inverted for a record amount of time. (ft.com) Strategy Why you can ignore all the magazine cover commentary. (downtownjoshbrown.com) Why it's so hard to profit from a big trend, like AI. (wsj.com) Finance A Reddit IPO is another sign that VCs are coming to terms with a new reality.
Calculated Risk
MARCH 18, 2024
Altos reports that active single-family inventory was up 1.3% week-over-week. Inventory bottomed in mid-February, as opposed to mid-April in 2023, and inventory is now up 2.7% from the 2024 February bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of March 15th, inventory was at 507 thousand (7-day average), compared to 501 thousand the prior week.
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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.
Nerd's Eye View
MARCH 21, 2024
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
A Wealth of Common Sense
MARCH 21, 2024
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?
Abnormal Returns
MARCH 20, 2024
Podcasts Robin Powell talks with Ben Carlson about why the U.S. stock market has held up. (youtube.com) Barry Ritholtz talks with Jim O'Shaughnessy about the benefits of a quantitative investment approach. (ritholtz.com) Dan Haylett talks with Christine Benz about her new book "How to Retire: 20 Lessons For A Happy, Successful & Wealthy Retirement.
Calculated Risk
MARCH 21, 2024
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.
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.
Nerd's Eye View
MARCH 19, 2024
Welcome back to the 377th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Meredith Moore. Meredith is the Founder & CEO of Artisan Financial Strategies, a hybrid advisory firm based in Alpharetta, Georgia, that oversees $77M in assets under management for 120 client households. What's unique about Meredith, though, is how she was able to keep her firm open, navigating through and ultimately growing to more than $1M of annual revenue, despite a diagnosis in 2
The Irrelevant Investor
MARCH 18, 2024
Stocks in the United States are more expensive than they used to be. Like, a lot more. You used to be able to buy a blue-chip company for fifteen times earnings. There was a time, a normal non-recessionary time, when you could buy the S&P 500 for fifteen times earnings. Prior to the dotcom bubble, there was only one instance when U.S. stocks traded at 25x times inflation-adjusted earnings over the previous decade.
Abnormal Returns
MARCH 16, 2024
Autos Not every car (or SUV) has the same impact on cities. (reasonstobecheerful.world) 12 volt batteries are the Achilles heel of EVs. (wsj.com) High pollen levels are associated with more auto accidents. (nber.org) Some problems that Tesla ($TSLA) Cybertruck owners are having. (slate.com) Hank Green on why so many new cars look like 'wet putty.' (youtube.com) How four-light traffic signals work.
Wealth Management
MARCH 22, 2024
Robson doesn’t see the need to bring every service offering in-house to effectively grow an RIA catering to HNW wealth creators. The secret is paying deep attention to the clients—and their families.
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
MARCH 21, 2024
From the NAR: Existing-Home Sales Vaulted 9.5% in February, Largest Monthly Increase in a Year Existing-home sales climbed in February, according to the National Association of REALTORS®. Among the four major U.S. regions, sales jumped in the West, South and Midwest, and were unchanged in the Northeast. Year-over-year, sales declined in all regions.
A Wealth of Common Sense
MARCH 17, 2024
There’s a bull market in bull market indicators flashing red right now. Barron’s had a bullish cover: The Economist too: The Nasdaq 100 is up more than 60% since the start of 2023. Nvidia is up 500% in that time. There are tens of billions of dollars flowing into the new bitcoin ETFs. Speculation in tech stocks, crypto, NFTs, options, day trading, etc. makes it feel like we picked up right where we left off.
Abnormal Returns
MARCH 22, 2024
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.
Wealth Management
MARCH 18, 2024
The commission accused Global Predictions and Delphia of “AI washing,” making misleading claims about how they each used artificial intelligence in managing investments.
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All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!
Calculated Risk
MARCH 19, 2024
Today, in the Calculated Risk Real Estate Newsletter: Single Family Starts Up 35% Year-over-year in February; Multi-Family Starts Down Sharply A brief excerpt: Total housing starts in February were above expectations and starts in December and January were revised up. Last month, I noted that permits held up better than starts in January, and that housing starts were impacted by the severe weather in January.
Trade Brains
MARCH 20, 2024
SRM Contractors IPO Review: SRM Contractors is coming up with its IPO issue of Rs. 130.20 Cr which will open on 26th March 2024. The issue will close on 28th March and be listed on the exchange on 3rd April 2024. This article will analyze the GMP, Financials, strengths and weaknesses of the SRM Contractors IPO Review 2024. Keep reading to find out! SRM Contractors IPO Review – Company Overview SRM Contractors is an engineering, construction, and development Company engaged in constructing
Abnormal Returns
MARCH 22, 2024
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.
Wealth Management
MARCH 22, 2024
Vikram Chugh, who heads up technology and operations for $4.6 billion AUM Robertson Stephens, said the firm has carefully selected each piece of its tech stack.
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Digital platforms can provide you with plenty of solutions, yet many are still intimidated by them. It's time to end that worry and embrace what could make a major difference for your bank. Understanding how they work and how to best utilize them for your banks is key toward success. In this article, Biz2X breaks down all things digital platforms, including the many advantages of embracing them.
Calculated Risk
MARCH 20, 2024
Statement here. Fed Chair Powell press conference video here or on YouTube here , starting at 2:30 PM ET. Here are the projections. Since the last projections were released, the economy has performed close to FOMC expectations. In December, the FOMC participants’ midpoint of the target level for the federal funds rate was at 4.675% at the end of 2024.
Dear Mr. Market
MARCH 17, 2024
Dear Mr. Market : If your alma mater or favorite college team did not make the tournament on Selection Sunday, we’ve got another option for you! Even if you don’t like or follow college basketball, we think you’ll enjoy what we pioneered and have put together. My Portfolio Guide, LLC was the first investment firm to publish a March Madness investing bracket where we share our picks and match them up against each other.
Abnormal Returns
MARCH 17, 2024
Top clicks this week 40 lessons at age 40 including 'Life advice is like clothing.' (markmanson.net) Travis Kling, "The evidence for the rise of Financial Nihilism is all around us." (epsilontheory.com) The simplest explanation for the disappearance of MH370 is the most likely. (thedailybeast.com) Why this crypto rally is different. (ofdollarsanddata.com) Are the Magnificent Seven all that overvalued?
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