Sat.Jan 20, 2024 - Fri.Jan 26, 2024

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StrongBox Wealth: Picking Deep Moat, Rising Dividend Stocks

Wealth Management

Chuck Cooper III, advisor and managing partner at Lee’s Summit, Mo.-based StrongBox Wealth, provides a peek inside the $400 million RIA’s stock picking strategy within its high conviction, conservative growth model portfolio.

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What High-Net-Worth Prospects (Really) Want From A Financial Advisor

Nerd's Eye View

In the early days of wealth management, a financial advisor's value proposition was relatively explicit, typically focusing on a limited range of portfolio management activities (e.g., selling and trading) or on sales-oriented advice that centered on implementing insurance products. As the industry has evolved, though, the value offered by financial advisors, especially for High-Net-Worth (HNW) clients, has come to involve a far more comprehensive range of services in addition to traditional inv

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Top clicks this week on Abnormal Returns

Abnormal Returns

Top clicks this week On the importance of time when it comes to compounding. (humbledollar.com) How to use AI to do fundamental company analysis. (howardlindzon.com) How to use a negative checklist. (novelinvestor.com) Where are real interest rates going to settle? (mrzepczynski.blogspot.com) You can only control your own behavior. (creativeplanning.com) There's no magic in personal finance, but there are some surprising hacks.

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At the Money: How to Pay Less Capital Gains Taxes

The Big Picture

At the Money: How to Pay Less Capital Gains Taxes (January 24, 2024) We’re coming up on tax season, after a banner year for stocks. Successful investors could be looking at a big tax bill from the US government. How can you avoid sticker shock when Uncle Sam comes knocking? On this episode of At the Money, we look at direct indexing as a way to manage capital gains taxes.

Taxes 239
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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This is the Best U.S. Economy Since the 1990s

A Wealth of Common Sense

As millennials reach middle age (hand up), prepare yourself for a wave of 1990s nostalgia. Remember MTV? Remember life before smartphones and social media? Remember rap groups? Remember life before everyone was forced to care about politics? Remember Saved by the Bell? Remember going to Blockbuster on a Friday night to pick out a movie? Finance people also have an affinity for the 1990s economy.

Economy 137

More Trending

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Research links: overly complicated models

Abnormal Returns

Research How to model private credit returns, per AQR. (institutionalinvestor.com) Another example showing the impact of screening out negative momentum stocks with lottery-like characteristics. (alphaarchitect.com) How to build a better low vol strategy. (blogs.cfainstitute.org) How smartphones have affected the transmission of investor sentiment. (papers.ssrn.com) Bloomberg has built an AI tool to summarize earnings calls.

Assets 243
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MiB: Sarah Kirshbaum Levy, CEO Betterment

The Big Picture

This week, we speak with Sarah Kirshbaum Levy , chief executive officer of Betterment , an independent digital investment adviser with $40 billion in assets under management. Before joining Betterment, Kirshbaum Levy was chief operating officer of Viacom Media Networks, where she oversaw global strategy, finance and operations. Previously, Levy served as COO at Nickelodeon, where she spearheaded Nickelodeon’s entry into new segments, including consumer products, resorts, Broadway and them

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CB Leading Economic Index: Continues to Signal Underlying Weakness

Advisor Perspectives

The Conference Board Leading Economic Index (LEI) fell for a 21st straight month in December as the LEI continues to signal underlying weakness in the U.S. economy. The index inched down 0.1% from last month to 103.1, the index's lowest reading since May 2020.

Economics 133
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Avoiding Client Power Of Attorney (POA) Rejection By Taking A Comprehensive ‘Kitchen Sink’ Approach

Nerd's Eye View

As more Americans are living well into their 80s and even into their 90s, the spectrum of risks that an aging population faces is only getting wider. The need to address longevity risk has become increasingly important, allowing financial advisors to add even more value for their clients by ensuring that their financial needs are met throughout retirement.

Clients 205
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Monday links: understanding psychology

Abnormal Returns

Markets Putting the past bear market into historical perspective. (awealthofcommonsense.com) Bitcoin How supply and demand drives Bitcoin. (theirrelevantinvestor.com) FTX sold a bunch of the Grayscale Bitcoin Trust ($GBTC). (coindesk.com) Is Bitcoin mining a good business? (herbgreenberg.substack.com) Finance In credit cards there's Visa ($V), Mastercard ($MA), and everyone else.

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10 Weekend Reads

The Big Picture

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: • The Downfall of Diddy Inc. : After months in court, Sean Combs withdrew his racially charged lawsuit against Diageo. A look inside that battle reveals the failed attempt of a fading hip-hop mogul—who’s been buffeted by charges of sexual assault—to salvage a crumbling business empire. ( Businessweek ) • America’s New Business Boom : Americans Have Been Forming New

Startup 164
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U.S. Courts: Bankruptcy Filings Increase 17 Percent in 2023; 42% Below Pre-Pandemic Levels

Calculated Risk

From the U.S. Courts: Bankruptcy Filings Rise 16.8 Percent Total bankruptcy filings rose 16.8 percent, with significant increases in both business and non-business bankruptcies, in the twelve-month period ending Dec. 31, 2023. This accelerates a continuing rebound in filings after more than a decade of sharply dropping totals. According to statistics released by the Administrative Office of the U.S.

Economy 131
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Weekend Reading For Financial Planners (January 27-28)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news of a survey indicating that about 90% of financial advisors would switch firms based on bad technology at their current firm, and that 44% have already done so. The survey also suggests that a firm's tech stack can affect its ability to attract and retain clients, with 93% of advisors who said they work with state-of-the-art technology reporting that they have added new c

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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

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.

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Saturday links: the heart of grift

Abnormal Returns

EVs Why isn't every car a hybrid at this point? (nytimes.com) Behind the slowdown in EV sales. (snippet.finance) EV owners need to consider depreciation. (bloomberg.com) Why we need to get EVs in the hands of 'superdrivers.' (nytimes.com) Solar energy California is making it harder for residents to put up solar panels. (nytimes.com) The Bureau of Land Management wants to boost utility-scale solar on public lands.

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Nobody Knows Anything, Squid Game edition

The Big Picture

Remember Squid Game ? Written and directed by Hwang Dong-hyuk, “Squid Game” made its debut on Netflix on September 17, 2001. During the lockdown, it quickly became must-see TV, becoming a global phenomenon. Variety reported that Squid Games had “1.65 billion hours streamed in first four weeks.” Eventually, the show became Netflix’s most-watched original show by far, racking up over 2.2 billion hours of viewing.

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PCE Measure of Shelter Slows to 6.4% YoY in December

Calculated Risk

Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through December 2023. CPI Shelter was up 6.2% year-over-year in December, down from 6.5% in November, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 6.4% YoY in December , down from 6.7% in November, and down from the cycle peak of 8.3% in April 2023.

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Kitces & Carl Ep 130: Helping Everyone You Can Vs Getting Paid What You’re Really Worth

Nerd's Eye View

Few service industries have as much potential to impact lives as financial advice, and it's that very ability for financial advicers to help their clients achieve positive outcomes that can often compound for decades and beyond that make the profession deeply satisfying for so many. It's no wonder, then, that the profession attracts individuals who are highly service-minded and enjoy helping others.

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

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.

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Podcast links: a cultural phenomenon

Abnormal Returns

Business David Rosenthal and Benjamin Gilbert look at the history of weight loss drug provider Novo Nordisk ($NVO). (acquired.fm) Shane Parrish talks with Tom Gayner who is currently the CEO of Markel Group ($MKL). (fs.blog) Matt Reusle talks with John Reardon about the business of Patek Philippe. (joincolossus.com) David Senra looks at the crazy life of Red Bull founder Dietrich Mateschitz.

Marketing 186
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Burt Malkiel & Alex Michalka’s Insights for Investors in 2024

Wealthfront

In planning your investment strategy for 2024 and beyond, there are wise principles to keep in mind: While no one can predict how market prices will move in any particular period, there are time-tested general rules that can put the odds of success squarely in your favor. In this letter we will offer some simple […] The post Burt Malkiel & Alex Michalka’s Insights for Investors in 2024 appeared first on Wealthfront Blog.

Planning 122
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AIA: "Architecture firm billings remain soft to end the year"; Multi-family Billings Decline for 17th Consecutive Month

Calculated Risk

Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: ABI December 2023: Architecture firm billings remain soft to end the year Nearly one third of firms report an uptick in significantly delayed projects over the past six months Business conditions at architecture firms remained soft to close out 2023, with an AIA/Deltek Architecture Billings Index (ABI) score of 45.4 for December (any score below 50 indicates declining billings).

Clients 119
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T3: Rapid Uptick in Tax and Estate Planning Software By Advisors

Wealth Management

Double-digit percentage point gains in both were notable findings in the annual advisor tech survey revealed at the T3 conference this week, as was the persistently low adoption of cybersecurity tools.

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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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Friday links: a misplaced fondness

Abnormal Returns

Markets Bob Seawright, "If you keep making the same wrong call over and over, you don’t get any credit for it when it eventually turns up." (betterletter.substack.com) Dividends are less volatile than stocks themselves. (awealthofcommonsense.com) How to think about the growth in money market fund assets. (spilledcoffee.substack.com) Crypto How the structure of the Bitcoin market has changed with the introduction of the spot ETFs.

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RecessionAlert Weekly Leading Economic Index

Advisor Perspectives

The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of January 12th, the index was at 19.143, down 2.685 from the previous week, with 5 of the 6 components in expansion territory.

Economics 111
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Jan 26th COVID Update: Weekly Deaths Increased

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Due to changes at the CDC, weekly cases are no longer updated. For deaths, I'm currently using 4 weeks ago for "now", since the most recent three weeks will be revised significantly. Hospitalizations have more than quadrupled from a low of 5,150 in June 2023. Hospitalizations are less than 20% of the peak of 150,000 in January 2022.

Numbers 113
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Moving Average Distance and Time-Series Momentum

Alpha Architect

For investors that use trend-following strategies, Avramov, Kaplanski, and Subrhmanyam provided new evidence supporting momentum strategies and showed that the distance between short- and longer-term momentum signals provides additional explanatory power in the cross-section of equity returns. Moving Average Distance and Time-Series Momentum was originally published at Alpha Architect.

Investing 112
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Transforming Lending: Understanding the Power of Digital Platforms

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.

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Adviser links: acquiring talent

Abnormal Returns

Podcasts Michael Kitces talks social media with Thomas Kopelman who is the co-founder of AllStreet Wealth. (kitces.com) Zach Conway and Kelsey McKenna talk with Michael Conway, CEO of Conway Wealth, about the multifaceted roles financial advisors play beyond managing investments. (open.spotify.com) Daniel Crosby talks with Richard Shotton who is the founder of Astroten, a consultancy that applies behavioral science to marketing.

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Aaron Klein Joins Fynancial as Strategic Advisor

Wealth Management

Klein, who stepped down as CEO of Nitrogen in November, will serve as a strategic advisor for Fynancial, a new 'Social Financial Platform.

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Personal Income increased 0.3% in December; Spending increased 0.7%

Calculated Risk

The BEA released the Personal Income and Outlays report for December: Personal income increased $60.0 billion (0.3 percent at a monthly rate) in December , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes, increased $51.8 billion (0.3 percent) and personal consumption expenditures (PCE) increased $133.9 billion (0.7 percent).

Food 110