The Big Picture

FEBRUARY 24, 2025

Last weeks comments, Tune Out the Noise , was my suggestion that investors should not get drawn into the firehose of noise, partisan wrestling matches, and trolling generated by the new administration. My emphasis was on staying focused on the long term. This includes setting goals, having a financial plan, and acknowledging our collective inability to predict the outcomes of geopolitical events (either domestic or overseas).

Economy 289

Economy Media Economics Sales 289

Calculated Risk

FEBRUARY 26, 2025

From housing economist Tom Lawler: Treasury Secretary Wrongly Says Fed Has Been Big Seller of Treasuries In an interview last week, Treasury Secretary Bessent said that any plans by the Treasury to extend the maturity were a long ways off. One of the reasons cited by Secretary Bessent was the Federal Reserves current balance sheet runoff policy. Here is a quote from Bessent.

Sales 281

Sales Accounting Planning Marketing 281

Nerd's Eye View

FEBRUARY 26, 2025

Parents often want to ensure their children have the resources to pursue their potential and lead fulfilling lives. To achieve this, financial support may start at a very young age, allowing for a longer growth horizon and, in many cases, serving tax and estate planning purposes. However, once a child reaches the age of majority, they may not always be in a position to manage assets responsibly.

Estate Planning 227

Estate Planning Planning Distribution Assets 227

Abnormal Returns

FEBRUARY 23, 2025

Top clicks this week Successful investing is about avoiding unforced errors. (ritholtz.com) Josh Brown, "Every entrepreneur I talk to in the wealth business is scrambling to add services, not cut fees." (downtownjoshbrown.com) On the looming adviser shortage, per McKinsey. (mckinsey.com) This company has thoroughly scrubbed any mention of diversity, inclusion or DEI from its SEC filings.

Startup 182

Startup Investing Investments 182

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Clients

The Big Picture

FEBRUARY 25, 2025

The transcript from this weeks, MiB: Charley Ellis on Rethinking Investing , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ This is Masters in Business with Barry Ritholtz on Bloomberg Radio.

Investing 163

Investing Investments Management Engineering 163

Calculated Risk

FEBRUARY 23, 2025

This morning, Carl Quintanilla posted a graph on Bluesky from BESPOKE suggesting the US is heading towards a recession. Quintanilla quoted BESPOKE: On a 12-month average basis, Housing Starts have completely rolled over from their peak. . Recessions have always followed a rollover in Housing Starts, and the only question is timing. Housing is the basis of one of my favorite models for business cycle forecasting.

Sales 309

Sales Investing Investments Economy 309

Abnormal Returns

FEBRUARY 26, 2025

Podcasts Sam Dogen talks with Dr. Jordan Grumet author of "The Purpose Code." (sites.libsyn.com) Katie Gatti Tassin talks with Jeremy Porter about how home insurance and climate change are affecting the housing market. (podcast.moneywithkatie.com) Jim Dahle talks with Devon Gimbel and Lisha Taylor about maximizing travel rewards. (whitecoatinvestor.com) Carl Richards talks minimalism, wealth and happiness with Joshua Becker.

Asset Allocation 162

Asset Allocation Retirement Financial Planning Accounting 162

The Big Picture

FEBRUARY 22, 2025

The weekend is here! Pour yourself a mug of Colombia Tolima Los Brasiles Peaberry Organic coffee, grab a seat by the fire, and get ready for our longer-form weekend reads: Trust in a Black Hat World : Investors and Advisors, on the state of markets, and the state of ETFs: You are on your own. There are few left to trust. ( Echo Beach ) Why Japan Succeeds Despite Stagnation : For more than three decades, Japan has endured near-complete economic stagnation.

Transportation 163

Transportation Economics Media Investing 163

Calculated Risk

FEBRUARY 27, 2025

From the NAR: Pending Home Sales Waned 4.6% in January Pending home sales pulled back 4.6% in January according to the National Association of REALTORS. The Midwest, South and West experienced month-over-month losses in transactions with the most significant drop in the South while the Northeast saw a modest gain. Year-over-year, contract signings lowered in all four U.S. regions, with the South seeing the greatest falloff.

Sales 251

Sales Marketing Marketing 251

A Wealth of Common Sense

FEBRUARY 25, 2025

The top 10% owns 87% of the stocks in this country. They also own 84% of the private businesses, 44% of real estate and two-thirds of overall wealth. These numbers have all increased since 1989 as well — total wealth (60.8% to 67.3%), stocks (81.7% to 87.2%), private businesses (78.4% to 84.4%) and real estate (38.2% to 43.9%). According to The Wall Street Journal, the top 10% also accounts for 50% of all consumer.

Accounting 141

Accounting Numbers 141

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.

Management

Nerd's Eye View

FEBRUARY 25, 2025

Welcome everyone! Welcome to the 426th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jennifer des Groseilliers. Jennifer is the CEO of The Mather Group, an RIA based in Chicago, Illinois, that oversees $15 billion in combined assets under management and advisement for approximately 4,400 client households. What's unique about Jennifer, though, is how her firm has rolled out an equity compensation plan, built around providing grants based on performance and mee

Compensation Planning 147

Compensation Planning Clients Planning Wealth Advisor 147

Wealth Management

FEBRUARY 25, 2025

The Utah-based broker petitioned the nations highest court to consider hearing its appeal questioning the self-regulatory organizations constitutionality. One securities attorney questions whether the Court will do soat least for now.

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Calculated Risk

FEBRUARY 25, 2025

Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 3.9% year-over-year in December Excerpt: S&P/Case-Shiller released the monthly Home Price Indices for December ("December" is a 3-month average of October, November and December closing prices). December closing prices include some contracts signed in August, so there is a significant lag to this data.

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Abnormal Returns

FEBRUARY 26, 2025

ETFs Private shares in a public ETF. The case of the ERShares Private-Public Crossover ETF ($XOVR) (morningstar.com) Leveraged ETFs are not for holding. (theblock.co) Big Tech Apple ($AAPL) is finally replacing Qualcomm ($QCOM) modems. (macworld.com) Microsoft ($MSFT) is letting Softbank take the lead with OpenAI. (spyglass.org) Amazon ($AMZN) Alexa+, powered by AI, is coming.

Government 162

Government Manufacturing Media Taxes 162

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.

Numbers

A Wealth of Common Sense

FEBRUARY 23, 2025

The hottest chart in the markets right now is not Nvidia, Fartcoin or one of the quantum computing stocks…it’s the price of eggs: It looks like a chart of Bitcoin, Gamestop or the hottest AI stock on the street. Since 1947, the price of eggs has grown at an annual rate of 2.4%, more than one percent lower than the overall annual inflation rate of 3.5%.

Marketing 107

Marketing Marketing 107

Wealth Management

FEBRUARY 27, 2025

If theres one thing that can quickly undermine client trust, its needless risk.

Clients 289

Clients 289

Calculated Risk

FEBRUARY 26, 2025

The Census Bureau reports New Home Sales in January were at a seasonally adjusted annual rate (SAAR) of 657 thousand. The previous three months were revised up. Sales of new single-family houses in January 2025 were at a seasonally adjusted annual rate of 657,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

Sales 221

Sales 221

Abnormal Returns

FEBRUARY 24, 2025

Podcasts Christine Benz and Amy Arnott talk with Preston Cherry, author of a new book "Wealth in the Key of Life: Finding Your Financial Harmony." (morningstar.com) Carl Richards and Michael Kitces on whether a client should take time before coming on as a client. (kitces.com) Morningstar Why Morningstar ($MORN) is getting out of the RIA software business.

Wealth Management 147

Wealth Management Retirement Planning Financial Advice Clients 147

Speaker: Erroll Amacker

Automation is transforming finance but without strong financial oversight it can introduce more risk than reward. From missed discrepancies to strained vendor relationships, accounts payable automation needs a human touch to deliver lasting value. This session is your playbook to get automation right. We’ll explore how to balance speed with control, boost decision-making through human-machine collaboration, and unlock ROI with fewer errors, stronger fraud prevention, and smoother operations.

Accounting

NAIFA Advisor Today

FEBRUARY 25, 2025

The life insurance and financial services industry is evolving rapidly, and advisors who embrace technology have a competitive edge. Thats why I, Ken Leibow, Founder and CEO of InsurTech Express, have partnered with Nick Bowman, CFP, MS, CEP, Co-founder & Head of Sales at Xcela, to bring you this actionable guide on leveraging AI to enhance your practice.

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CFP Insurance Financial Services Sales 94

Wealth Management

FEBRUARY 28, 2025

The SEC's worries over the Apollo Global/State Street private credit ETF center on the funds liquidity, its name and its ability to comply with valuation rules.

Valuation 269

Valuation 269

Calculated Risk

FEBRUARY 26, 2025

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Decrease to 657,000 Annual Rate in January Brief excerpt: The Census Bureau reported New Home Sales in January were at a seasonally adjusted annual rate (SAAR) of 657 thousand. The previous three months were revised up. The next graph shows new home sales for 2024 and 2025 by month (Seasonally Adjusted Annual Rate).

Sales 214

Sales 214

Abnormal Returns

FEBRUARY 27, 2025

Markets The chances of you successfully timing the market based on macro stuff is slim. (awealthofcommonsense.com) Would you invest in Norway's sovereign wealth fund if you could? (ft.com) Berkshire Hathaway Geico was the star of Berkshire Hathaway's ($BRK.A) 2024 results. (newsletter.rationalwalk.com) Berkshire's portfolio highlights the impact of a few key positive outliers.

Startup 147

Startup Media Economy Portfolio 147

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Accounting

Discipline Funds

FEBRUARY 28, 2025

Here are some things I think I am thinking about this weekend: 1) A Negative GDP NOW Print!?! It was a wild week in the markets, but the biggest news of the week dropped on Friday when the Atlanta Fed revised their GDP Now estimate from +2.3% to -1.5%. Yes, you read that correctly. NEGATIVE 1.5%. That’s a reduction of 3.8%. What in the world just happened?

Assets 69

Assets Economy Portfolio Financial Market 69

Wealth Management

FEBRUARY 24, 2025

Hightower's Robert Picard unravels the shifting dynamics of private markets and their role in contemporary investment portfolios.

Wealth Management 271

Wealth Management Investing Investments Management 271

Calculated Risk

FEBRUARY 24, 2025

Altos reports that active single-family inventory was up 0.3% week-over-week. Inventory always declines seasonally in the Winter and usually bottoms in January or February. Inventory is now up 2.5% from the bottom six weeks ago in January. The first graph shows the seasonal pattern for active single-family inventory since 2015. Click on graph for larger image.

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Million Dollar Round Table (MDRT)

FEBRUARY 26, 2025

By Roy Hall, ADFP, CCFP There are times when hiring and retaining effective back-office staff can be daunting, especially if you’re a financial advisor in an environment with extensive regulatory oversight. This requires staff who are up to date on regulations and who pay attention to crucial details. One solution I learned from an MDRT friend was to outsource to offshore virtual assistants.

Financial Advisor 73

Financial Advisor Education Management 73

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Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?

Sales

Mr. Money Mustache

FEBRUARY 25, 2025

– And by lately, I mean the past several years or more. The value of the S&P 500 index of stocks, where most of us hopefully have a good chunk of our retirement savings stashed into index funds, is up about fifty seven percent in just the past two years. And it has more than doubled in the past five. S&P returns (including dividends) since 2019, graph by the excellent portfolio visualizer website.

Marketing 66

Marketing Marketing Sales Portfolio 66

Wealth Management

FEBRUARY 26, 2025

The gap between what they Baby Boomers need and what advisors offer is widening.

Planning 265

Planning 265

Calculated Risk

FEBRUARY 27, 2025

Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.0% Below 2022 Peak Excerpt: It has been over 18 years since the housing bubble peak. In the December Case-Shiller house price index released this week, the seasonally adjusted National Index (SA), was reported as being 77% above the bubble peak in 2006. However, in real terms, the National index (SA) is about 12% above the bubble peak (and historically there has been an upward slope to real house prices).

Numbers 162

Numbers 162

The Big Picture

FEBRUARY 26, 2025

Chatting with Tom Keene and Paul Sweeney on Bloomberg Surveillance about investing strategies and mistakes… The post Talking Bad Trades & Regret Minimization appeared first on The Big Picture.

Investing 148

Investing Investments Media 148

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Management