May 13, 2014 - Vol 8 No 18
Bill Sharpe: "Smart beta makes me sick"
by Robert Huebscher
If you rely on "smart beta" strategies to achieve returns that you hope will beat the broad market, then you also need a response to the criticisms posed by Bill Sharpe, the Nobel laureate and Stanford economist. Sharpe uses unassailable logic, in my opinion, to demonstrate why smart-beta strategies must eventually do no better than the market.
The Bull Market Isn’t Over. It’s Changing.
Sponsored Content by OppenheimerFunds
Markets, especially in the developed world, have hit new highs. However, a rising economic tide will no longer lift all boats to the extent it once did. Find out why Chief Economist Jerry Webman believes the winners are likely to be organic revenue generators, efficiency vendors and innovators.
Video Highlights
Featured Video from Henderson Global Investors
Managing the 'new world' of global markets
by Paul O'Connor and Bill McQuaker
Paul O'Connor and Bill McQuaker, Co-Heads of Multi-Asset at Henderson, discuss the upcoming shift in market characteristics and note that with that change comes risks and opportunities. From an all-asset perspective, they believe this is a world in which they can still make good returns for clients and one where they expect asset performance and geographic performance to become widely dispersed.
Featured Video from FlexShares ETFs
An Investor-Centric Approach
Shundrawn Thomas, Global Head of ETFs, speaks with Marie Dzanis, Head of Sales & Servicing for FlexShares ETFs, to discuss FlexShares' investor-centric approach to ETF development, including an overview of the four key solution sets that are the foundation of the dynamic product line.
Featured Video from Thomas White
Thomas White's 2014 Market Outlook
Assessing the prospects in 2014, 45-year industry veteran Thomas S. White offers his view of the challenges and opportunities ahead in the global economic markets.
John Hussman: Really Mean Reversion
by Robert Huebscher
In his most recent commentary, GMO’s Jeremy Grantham said value investors are destined to endure pain in a market bubble, especially in its latter stages, as clients scorn them for missed opportunities. John Hussman is surely one such investor - indeed, Grantham’s commentary drew extensively on Hussman’s research. In a recent talk, Hussman explained why he, Grantham and other long-term value-driven investors should be worried, even if equity markets perform well in the short run.
Why SPIAs are a Good Deal Despite Low Rates
by Joe Tomlinson
SPIAs have been out of favor in the current low-interest-rate environment. But my new research indicates that they still offer especially attractive opportunities for retirees. One of the key reasons is that typical advisor clients will, on average, live longer than the overall population.
How One Advisor’s Website Lands a New Client a Week
by Dan Richards
Last week an advisor responded to my recent article on building your reputation, The Surprising Number One Driver of New Clients, in which I outlined five strategies for building credibility. In that email and a subsequent conversation, this advisor described how last year his RIA attracted 58 new clients from its website.
New Research on Making the Best First Impression
by Dan Solin
How long do you think it takes others to form an impression of you?
Revisiting the Research on SPIAs in Retirement Portfolios
by James Shambo, CPA/PFS
The conclusions drawn by Michael Kitces and Wade Pfau in their paper, The True Impact of Immediate Annuities on Retirement Sustainability, are flawed.
The Virtues of Rebalancing
by Craig L. Israelsen, Ph.D.
Does rebalancing improve portfolio performance? Yes - but it takes time for the benefits of rebalancing to be fully manifested, at least in the case of a broadly diversified 12-asset portfolio.
Venerated Voices Q1 2014 Rankings
Advisor Perspectives, a leading publisher serving financial advisors and the financial advisory community, has announced its Venerated Voices awards for articles published in the first quarter of 2014. Rankings were issued in three categories: The Top 25 Venerated Voices by Firm, The Top 25 Venerated Voices by Author and The Top 10 Venerated Voices by Commentary.
Career Center
Find career opportunities for firms that seek to add financial advisors and planners to their staff. Read more to find out how to post opportunities at your firm.
When a Colleague Just Isn’t Listening
by Beverly Flaxington
One of our more senior financial advisors struggles with communication. He knows what he wants to say, but he doesn’t convey his ideas in a clear and thoughtful way. He just doesn’t listen well and that’s why his responses are not strong and clear. Is it possible to teach listening skills?
Highlights from Market Commentaries
Here are the top three commentaries from last week:
The 5 Commandments of Warren Buffett and Charlie Munger
Here you will find our review of the 2014 Berkshire Hathaway Annual Shareholder Meeting. As we consider these men pioneers of long-duration common stock investing, we wanted to share what we believe were the best nuggets of wisdom from the weekend.
The 5 Commandments of Warren Buffett and Charlie Munger by William Smead of Smead Capital Management
Cahm Viss Me Eef You Vahn to Live
Taking the broad stock market as a whole, and considering all stocks ? not simply the largest of the large caps ? investors are now making the broadest and most leveraged bet on overvalued equities in U.S. history. Conditions somehow do not feel so dangerous because profit margins are cyclically extreme, but I suspect that this only means that investors will be surprised by the depth of the markets losses, as they were in 2000-2002 and 2007-2009. The lessons on this really are freely available all the way back to the South Sea Bubble.
Cahm Viss Me Eef You Vahn to Live by John Hussman of Hussman Funds
Warning Sign: Number Of 1% Down Days Are Ticking Up And Tracking Taper
One of the many technical data points that we look at is the 6-month moving sum of days where either the index or an individual stock finishes down by 1% or more.
Warning Sign: Number Of 1% Down Days Are Ticking Up And Tracking Taper by Team of GaveKal Capital
Unsubscribe me from this list
|
Advisor Perspectives | PO Box 380 | Lexington, MA 02420
No comments:
Post a Comment