Sat.Apr 13, 2024 - Fri.Apr 19, 2024

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Top clicks this week on Abnormal Returns

Abnormal Returns

Also on the site Some interesting developments in the financial media space. (abnormalreturns.com) Top clicks this week These 15 stocks destroyed the most value in the past decade. (morningstar.com) It's way too easy to mislead someone with charts. (awealthofcommonsense.com) Two things you probably don't need to worry about, including index concentration.

Media 257
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Weekend Reading For Financial Planners (April 20-21)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that CFP Board announced that it has crossed the milestone of 100,000 CFP professionals in the United States, and despite having just celebrated its 50th anniversary last year, just set a record high in the number of advisors sitting for the CFP exam this March, reflecting the value many financial advisors and consumers place on the brand, including the requirements to obtain i

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Update: At the Money

The Big Picture

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. Think of it as a guided tour of key ideas, sherpaed with the experts who I believe add enormous value to our understanding of how humans do behave — and should behave — around money.

License 143
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Is Auto Insurance Becoming a Crisis?

A Wealth of Common Sense

I was perusing the BLS data following the inflation release last week and one number sticks out like Victor Wembanyana standing next to a group of kindergartners. Auto insurance was up 22% over the previous 12 months versus an overall inflation rate of 3.5%. Look at the change in auto insurance rates these past few years: It’s like a meme stock.

Insurance 122
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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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Tuesday links: buying business with cash

Abnormal Returns

Strategy Joe Wiggins, "It is important to remember that behavioural finance would be redundant if it were easy; if it wasn’t hard it wouldn’t be useful." (behaviouralinvestment.com) Investing requires a measure of optimism in the future. (ofdollarsanddata.com) Fund management 15 more ideas from Seth Klarman's "Margin of Safety" including 'Investment must be thought of as more than stock selection or making a series of solid individual investment decisions.

More Trending

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MBA: Mortgage Applications Increased in Weekly Survey

Calculated Risk

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 3.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 12, 2024. The Market Composite Index, a measure of mortgage loan application volume, increased 3.3 percent on a seasonally adjusted basis from one week earlier.

Economy 115
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Existing Home Sales Experience Largest Decline in 16 Months

Advisor Perspectives

Existing home sales experienced their largest monthly decline in over a year in March. According to the data from the National Association of Realtors (NAR), existing home sales fell 4.3% from February to reach a seasonally adjusted annual rate of 4.19 million units. This figure came in lower than the expected 4.20 million. Existing home sales are down 3.7% compared to one year ago.

Sales 104
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Personal finance links: keeping your focus

Abnormal Returns

Podcasts Roger Whitney talks retirement challenges with Christine Benz. (youtube.com) Sam Parr talks with 'Ryan' and 'Jeff' about the reality of retiring early. (podcasts.apple.com) Peter Lazaroff talks with Taylor Schulte and Benjamin Brandt about the new Retirement Podcast Network. (peterlazaroff.com) Justin Castelli talks curiosity and more with Tom Morgan.

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Repurposing Your Content To Enhance Growth: How 1 Piece Of Content Can Cover 6 Different Marketing Tactics

Nerd's Eye View

Growing an advisory firm is no easy task – and advisors who start firms often have few resources to spare (beyond their own knowledge and time), face huge to-do lists, and are required to wear a number of hats. Foremost among their responsibilities is business development, which compels them to seek out prospects who will eventually become clients (so that they can grow their firms, allocate resources accordingly, and do even more financial planning!).

Marketing 161
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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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NAIFA Trustee Kagawa Honored for Public Service

NAIFA Advisor Today

Congratulations to NAIFA Trustee Stephen Kagawa , LUTCF, FSS, on being named the 71 st recipient of NAIFA-Los Angeles ’s Will G. Farrell Public Service Award. The CEO and Chairman of the Board of The Pacific Bridge Companies has been a loyal NAIFA member since 1986.

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Steward Adds Pair of Firms, $488M Under New Acquisition Model

Wealth Management

Monaco Capital and Saling Simms have become the second and third firms to join Steward Partners’ new Legacy Division, established via acquisition late last year.

Sales 109
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Research links: better behavior

Abnormal Returns

Asset allocaiton Is regret a better measure to target for portfolio allocations? (blogs.cfainstitute.org) Why asset allocation is sensitive to goals and assumptions. (priceactionlab.com) The case against a cryptocurrency allocation. (insights.finominal.com) Global macro hedge funds are mid. (klementoninvesting.substack.com) Corporate finance Are family-controlled firms more at-risk of price crashes?

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Kitces & Carl Ep 136: Should Internal Succession Plans Provide A G2 Discount For Lack Of Affordability?

Nerd's Eye View

For over a decade, the financial advice industry has been bracing for an "any-minute-now" tsunami of advisor retirements and concomitant sales of financial planning practices. Although that wave has yet to materialize (as many advisors may find that they'd prefer to stay engaged and earn well past the 'traditional' retirement age), the fact remains that, at some point, many aging advisors will have the opportunity to capture the enterprise value that they've spent their careers building.

Planning 130
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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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Retail Sales Increased 0.7% in March

Calculated Risk

On a monthly basis, retail sales were up 0.7% from February to March (seasonally adjusted), and sales were up 4.0 percent from March 2023. From the Census Bureau report : Advance estimates of U.S. retail and food services sales for March 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $709.6 billion, up 0.7 percent from the previous month , and up 4.0 percent above March 2023.

Retail 117
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Rep Pleads Guilty to Defrauding Gold Star Families of Millions

Wealth Management

Caz Craffy faces 20 years in prison for using his position as an Army Financial Counselor to invest survivors’ benefits in firms where he worked, according to the DOJ.

Investing 101
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Adviser links: making the right decisions

Abnormal Returns

Podcasts Daniel Crosby talks about the unique needs of women and money with Lindsey Lewis. (standarddeviationspod.com) Christine Benz and Amy Arnott talk asset allocation and more with Matt Krantz. He is the personal finance and management editor at Investor’s Business Daily. (morningstar.com) The biz Why Dynasty Financial stands since putting plans for an IPO on ice.

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#FA Success Ep 381: Helping Clients Go Beyond The Plan To Actually Implement As A Fractional Financial Behavior Officer, With Ashley Quamme

Nerd's Eye View

Welcome back to the 381st episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Ashley Quamme. Ashley is the Founder of Beyond The Plan, a consulting firm based in Evans, Georgia, that offers a Fractional Financial Behavioral Officer service including consulting and training to advisory firms and even direct meeting support for new or existing clients.

Clients 130
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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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NMHC: "Apartment Market Continues to Loosen"

Calculated Risk

Today, in the CalculatedRisk Real Estate Newsletter: NMHC: "Apartment Market Continues to Loosen" Excerpt: From the NMHC: Apartment Market Continues to Loosen Amidst Worsening Financing Conditions Apartment market conditions continued to weaken in the National Multifamily Housing Council’s (NMHC’s) Quarterly Survey of Apartment Market Conditions for April 2024.

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Zillow Home Value Index: "Real" Home Value Unchanged in March

Advisor Perspectives

In March, nominal home values increased for an 12th straight months while "real" home values were unchanged. Last month's ZHVI came in at $354,179, up 0.44% from the previous month and up 4.09% from one year ago. However, after adjusting for inflation, the real figures are 0.00% month-over-month and -1.71% year-over-year.

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Thursday links: sharing your best work

Abnormal Returns

Strategy Passive investors don't change relative prices. (bloomberg.com) A good outcome doesn't necessarily mean it was a good decision. (novelinvestor.com) Don't change your asset allocation in response to a market pullback. (rogersplanning.blogspot.com) Crypto The Grayscale Bitcoin Trust ($GBTC) continues to leak assets. (wsj.com) Bitcoin is whatever you want it to be.

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Nine Investment Must Reads This Week

Wealth Management

KKR logged $3 billion in sales in products aimed for the private wealth channel—up from $400 million in sales per quarter in 2022. Morningstar published an explainer on the growing world of interval funds. These are among the investment must reads we found this week for wealth advisors.

Investing 104
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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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NAR: Existing-Home Sales Decreased to 4.19 million SAAR in March; Median House Prices Increased 4.8% Year-over-Year

Calculated Risk

Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Decreased to 4.19 million SAAR in March Excerpt: Sales Year-over-Year and Not Seasonally Adjusted (NSA) The fourth graph shows existing home sales by month for 2023 and 2024. Sales declined 3.7% year-over-year compared to March 2023. This was the thirty-first consecutive month with sales down year-over-year.

Sales 96
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What If Fed Rate Hikes Are Actually Sparking US Economic Boom?

Advisor Perspectives

As the US economy hums along month after month, minting hundreds of thousands of new jobs and confounding experts who had warned of an imminent downturn, some on Wall Street are starting to entertain a fringe economic theory.

Economics 105
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Friday links: not taking enough risk

Abnormal Returns

Markets TIPS are on sale. Time to buy. (morningstar.com) Two reasons why yields are higher this year. (carsongroup.com) The stock-bond correlation has flipped positive. (mrzepczynski.blogspot.com) Books Why you should read Rob Copeland's "The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend." (advisorperspectives.com) A review of "Enrich Your Future: The Keys to Successful Investing" by Larry Swedroe.

Startup 162
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Review of Reviews: The New Undue Influence

Wealth Management

David Horton, the Martin Luther King, Jr. professor of law at the University of California, Davis, School of Law in Davis, Calif. and Reid Kress Weisbord, distinguished professor of law at Rutgers Law School in Newark, N.J. and the Judge Norma L. Shapiro Scholar.

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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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4th Look at Local Housing Markets in March; California Home Sales Down 4.4% YoY in March

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: 4th Look at Local Housing Markets in March; California Home Sales Down 4.4% YoY in March A brief excerpt: The NAR is scheduled to release March existing home sales tomorrow, Thursday, April 18th at 10:00AM ET. The consensus is for 4.20 million SAAR, down from 4.38 million in February. Housing economist Tom Lawler expects the NAR to report sales of 4.23 million SAAR for March.

Sales 102
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Enjoy Cheaper Rent While You Can. It Won’t Last.

Advisor Perspectives

he current state of the market for renters is akin to being in the eye of a multi-year hurricane. Rents surged in 2021 and 2022, driving a wave of apartment construction that helped to stabilize or even lower prices this year.

Marketing 111
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Sunday links: a shrinking pie

Abnormal Returns

Finance Franklin Templeton ($BEN) is moving aggressively beyond stocks and bonds. (wsj.com) How fast can Blackrock ($BLK) really grow earnings? (riabiz.com) How this hedge fund cleaned up on the sale of Seagen to Pfizer ($PFE). (wsj.com) Companies It's hard to overstate the importance of Alphabet's ($GOOGL) YouTube. (wapo.st) Global plastic making capacity keeps rising.