The Big Picture
MARCH 10, 2025
Money Delusions: What Do People Get Wrong About Money? David Nadig, “ Rabbithole ” March 7, 2025 I had fun chatting with Dave Nadig about philosophy, behavior, and investing ( video after the jump). His new podcast is called “Rabbithole” because Dave does not do broad and shallow; rather, he picks a narrow topic and goes deep down the rabbithole for 30 minutes — which is only a few questions.
Nerd's Eye View
MARCH 10, 2025
Financial advicers often market their comprehensive financial services as a way to differentiate themselves from other advisory firms and to stand out in the broader landscape of financial advice. These services may range from 'standard' offerings like retirement planning to less traditional areas like credit card consulting. In a firm's early years, there tends to be more room for experimentation, with advisors adding new services to provide value and attract clients.
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Calculated Risk
MARCH 10, 2025
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-March 2025 A brief excerpt: This 2-part overview for mid-March provides a snapshot of the current housing market. Inventory, inventory, inventory! Inventory usually tells the tale. Currently Im watching months-of-supply closely. Since both inventory and sales have fallen significantly, a key for house prices is to watch months-of-supply.
Abnormal Returns
MARCH 14, 2025
Listening Is AI the future of dubbing? (fastcompany.com) Bill Simmons has re-upped with Spotify ($SPOT). (hollywoodreporter.com) Spotify ($SPOT) will start publishing independent audiobooks. (techcrunch.com) Pocket Casts is making its podcast player free. (arstechnica.com) Economy Derek Thompson talks Gen Z with Kyla Scanlon, author of "In This Economy?
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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
The Big Picture
MARCH 14, 2025
This week, I speak with Stephanie Kelton , Professor of Economics and Public Policy at Stony Brook University and Senior Fellow at the Schwartz Center for Economic Policy Analysis. We discuss US fiscal policy, recession risks, and her New York Times bestseller “ The Deficit Myth: Modern Monetary Theory and the Birth of the Peoples Economy.” She has made virtually all the ‘top 50 lists’ including POLITICO’s 50 Most Influential Thinkers in 2016 and Bloomberg Businessw
Nerd's Eye View
MARCH 12, 2025
Following the long run-up in the US equity markets since the bottom of the 2008–2009 financial crisis, many investors with taxable investment accounts have likely found themselves with high embedded gains in their portfolios. While the gains signal portfolio growth, they also create challenges for ongoing management. Because when it comes time to rebalance the portfolio to its asset allocation targets – or to reallocate the portfolio to a new strategy – any trades made to imple
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
MARCH 14, 2025
Markets In the face of uncertainty, the stock market shoots first, asks questions later. (downtownjoshbrown.com) Just how much are the threat of tariffs driving the stock market? (morningstar.com) A 10% correction is a blip. (disciplinefunds.com) Strategy If you are going commit the sin of market timing, sin only a little. (monevator.com) How bad investment decisions feed on themselves.
Wealth Management
MARCH 13, 2025
The broker/dealer is embarking on a multi-year effort to restructure its home office to boost collaboration and client focus, with layoffs to come on the administrative side of the business.
Nerd's Eye View
MARCH 14, 2025
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that Securities and Exchange Commission (SEC) Commissioner Hester Peirce suggested in a recent interview that she would like to see the SEC give advisors more leeway to provide customized solutions to clients (rather than feeling required to take a regulator-prescribed "check-the-box" approach) and would like to ease the compliance burden on smaller investment advisers (p
Calculated Risk
MARCH 12, 2025
Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned two years ago when services less rent of shelter was up around 8% year-over-year. This declined, but is still elevated, and is now up 3.8% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through February 2025.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
Abnormal Returns
MARCH 13, 2025
Strategy The stock market is a big distraction to the business of investing. (albertbridgecapital.com) Six reasons to avoid hedge funds, including high fees. (blogs.cfainstitute.org) Companies Jamie Dimon is no fan of Institutional Shareholder Services and Glass Lewis. (semafor.com) The DEI backlash as seen in corporate filings. (nytimes.com) Lego's operating margins are falling.
The Big Picture
MARCH 13, 2025
I have known Scott Galloway since way before his first book, The Four , came out in 2017. He had been on MiB prior, and it was my pleasure to intro it at NYU Stern when it first was published. As always, it was so much fun chatting with Scott on the Prof G podcast: Barry Ritholtz, the co-founder, chairman, and chief investment officer of Ritholtz Wealth Management and the host of the Masters in Business podcast, joins Scott to discuss his new book, How Not to Invest: The Ideas, Numbers, and Beha
A Wealth of Common Sense
MARCH 14, 2025
Here’s something I shared on Twitter recently: Some people thought I was being hyperbolic. Maybe so. That’s the point of social media sometimes. Then I read the latest Eye on the Market fromMichael Cembalest who said what I said only much more eloquently: Here’s the interesting thing about the stock market: it cannot be indicted, arrested or deported; it cannot be intimidated, threatened or bullied; i.
Calculated Risk
MARCH 12, 2025
Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-March 2025 A brief excerpt: Earlier this week, in Part 1: Current State of the Housing Market; Overview for mid-March 2025 I reviewed home inventory, housing starts and sales. In Part 2, I will look at house prices, mortgage rates, rents and more.
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Abnormal Returns
MARCH 12, 2025
Markets A reminder that degenerate traders are not confined to the U.S. (acadian-asset.com) Another example, why the stock market is not a level playing field. (ft.com) Palantir Palantir ($PLTR) CEO Alex Karp is selling a lot of shares. (ft.com) The index inclusion boost is now in the rearview mirror for Palantir ($PLTR). (institutionalinvestor.com) Air travel Why Delta's ($DAL) profit warning matters.
Wealth Management
MARCH 11, 2025
Panelists at the P&I DC East Conference provide a glimpse into the future of DC plans.
Nerd's Eye View
MARCH 11, 2025
Welcome everyone! Welcome to the 428th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Lorie Jones. Lorie is the wealth manager of Fearless Financial Advisors, a dba of hybrid advisory firm Fidelis Wealth Advisors based in Castle Rock, Colorado, where Lorie personally oversees $30 million in assets under management for 88 client households.
Calculated Risk
MARCH 14, 2025
Today, in the Calculated Risk Real Estate Newsletter: Q4 Update: Delinquencies, Foreclosures and REO A brief excerpt: This entire housing cycle Ive argued that we would NOT see a surge in foreclosures that would significantly impact house prices (as happened following the housing bubble) for two key reasons: 1) mortgage lending has been solid, and 2) most homeowners have substantial equity in their homes.
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Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste
Abnormal Returns
MARCH 10, 2025
Advisortech The CFP Board has released guidelines for using AI. (citywire.com) The latest in advisor fintech news including saturation in the portfolio management tech space. (kitces.com) Estate planning Estate plans are a big lift for everyone, including advisers themselves. (kindnessfp.com) Why clients need to organize their digital assets for estate planning purposes.
Wealth Management
MARCH 10, 2025
Matt Sonnen explains Ellevest's decision to sell its robo advisor to Betterment and focus on its more profitable clients.
A Wealth of Common Sense
MARCH 13, 2025
Kevin Young joined me on the show to answer a question for a young financial advisor who is dealing with his first correction with nervous clients. We also touched on questions about when to sell Palantir, when to sell a rental house and how to deal with a regional recession in Washington DC. Further Reading: Mega Cap World Domination 1Exxon is back in the top 15 now so they might make a return visit.
Calculated Risk
MARCH 13, 2025
From CoreLogic: CoreLogic: Borrowers Gained Over $280B in Home Equity in 2024 CoreLogic. today released the Homeowner Equity Report (HER) for the fourth quarter of 2024. Nationwide, borrower equity increased by $281.9 billion, or 1.7% year-over-year. The report shows that U.S. homeowners with mortgages (which account for roughly 61% of all properties) saw home equity increase by about $4,100 between Q4 2023 and Q4 2024, which is less than the gain of $6,000 in Q3 2023.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
Abnormal Returns
MARCH 13, 2025
Books An excerpt from "Abundance: How We Build a Better Future" by Ezra Klein and Derek Thompson. (nytimes.com) A Q&A with Thor Hanson author of "Close to Home: The Wonders of Nature Just Outside Your Door." (grist.org) History Pardoning insurrectionists doesn't have a good historical track record. (theconversation.com) How the postal service shaped America.
Wealth Management
MARCH 12, 2025
The IRS ruled that beneficiaries recognize capital gains.
A Wealth of Common Sense
MARCH 9, 2025
I have some good news and bad news about the state of retirement savings for Americans. Let’s start with the bad news. Torsten Slok shows half of American households have no retirement assets to speak of: Young people still have time to play catch-up. It’s scary so many people 65 and older have no retirement assets to lean on. This is not great.
Calculated Risk
MARCH 11, 2025
From housing economist Tom Lawler: From the beginning of 2020 to early June of 2022 the Federal Reserves balance sheet more than doubled to an almost inconceivable $8.9 trillion, with almost all of the gain reflecting increases in the Federal Reserves holdings of Treasuries and Agency MBS. Most of these gains in Treasury and Agency MBS assets were funded with increases in very short duration interest-bearing Federal Reserve liabilities, mainly deposits of depository institutions (reserves) and R
Speaker: Cheryl J. Muldrew-McMurtry
Remote finance teams are rewriting how the back-office runs—and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats have become more than just “growing pains”. They’re now liabilities. The challenge isn’t just team distribution, but building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Abnormal Returns
MARCH 12, 2025
Podcasts Peter Lazaroff talks with DFA co-founder David Booth about why human ingenuity drives long-term returns. (peterlazaroff.com) Christine Benz talks with Ramit Sethi, author of "Money For Couples: No more stress. No more fights." (morningstar.com) Dan Haylett talks with Greg Davies, Head of Behavioural Finance at Oxford Risk, about the behavioural traps that retirees often fall into.
Wealth Management
MARCH 12, 2025
Be proactive about protecting clients and positioning them for whatever happens next.
Alpha Architect
MARCH 10, 2025
Bond ETFs have attracted new investors who previously never owned bonds or bond funds. Bond ETFs have made it easier for more people and institutions to start investing in bonds. How Bond ETFs Make Trading Easier and Cheaper was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Calculated Risk
MARCH 11, 2025
From the BLS: Job Openings and Labor Turnover Summary The number of job openings was little changed at 7.7 million in January , the U.S. Bureau of Labor Statistics reported today. Hires held at 5.4 million, and total separations changed little at 5.3 million. Within separations, quits (3.3 million) and layoffs and discharges (1.6 million) changed little. emphasis added The following graph shows job openings (black line), hires (dark blue), Layoff, Discharges and other (red column), and Quits (li
Speaker: David Worrell, CFO, Author & Speaker
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
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