ACTIONABLE ADVICE FOR FINANCIAL ADVISORS: Newsletters and Commentaries Focused on Investment Strategy

Follow us on

Exclusive Sponsorships

Most Popular This Month

Most Popular This Year

Recent Articles

The Best Asset Allocation for Retirees

by David Blanchett

In this article, I determine the optimal glide path for retirees using varying initial bond yields and stock market valuations.

Should Leveraged ETFs Be Held for Long Horizons?

by C. Thomas Howard, Lambert Bunker and David Stock

There are numerous misconceptions and emotions surrounding the use of leveraged ETFs. This article provides a simple and clear explanation of how these instruments can be used to enhance portfolio returns over longer term investment horizons. We show that commonly used 2x ETFs have delivered the expected return over multi-year time horizons.

How to Attract Top Talent

by Dan Richards

How should you recruit and motivate top-performing support staff?

Success Is Within Your Control

by Daniel Solin

You may be skeptical of the expression, "The harder I work, the luckier I get." But empirical evidence says it's true. While we often look with envy at people who get a "lucky break", the reality is that the vast majority of those people worked long and hard before they achieved success.

Closing the Retirement Gender Gap

by Jeff Briskin

New research shows how a lack of "retirement readiness" puts many women at risk of financial hardship during their retirement years, especially since most will outlive their spouses.

Career Center

by Various

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 Lead Advisors Are Not Mentors

by Beverly Flaxington

I am working to establish a training program that would match a newer advisor with one of our more seasoned ones. So far, this has been a disaster. The lead advisors treat the newer people like administrative staff. How do I teach my lead advisors to be better mentors?

Gundlach - The Bond Market is at a Pivotal Point

by Robert Huebscher

Jeffrey Gundlach turned defensive on the U.S. bond market at the end of January, almost precisely when yields were at their lowest point. Whether his outlook changes hinges on the direction of the 30-year bond and if it retests its low yield of 2.45%.

Recent Commentaries

Fair Value on the S&P 500 Has Three Digits

by John Hussman of Hussman Funds

We continue to classify market conditions among the most hostile expected return/risk profiles we identify. The current profile joins rich valuations with continued evidence of a subtle shift toward risk aversion among investors, which we infer from market internals (a variant of what we used to call “trend uniformity”), credit spreads, and other risk-sensitive measures.

Revisions Have Improved But Can It Last?

by Team of GaveKal Capital

The percent of stocks in the MSCI World Index that have had positive EPS revisions compared to six months ago currently stands at 45%. Over the past 7+ years, the average level of this statistic is 56%. So it currently stands below average levels but encouragingly it has improved from a low of 30% set on January 14th.

Growth Is Becoming More Valuable

by Frank Caruso, Christopher Kotowicz of AllianceBernstein

Precious gems, Old Masters artwork and certain brands of scotch: scarcity makes them more desirable and adds to their value. The same can be said of organic growth. As the economic cycle matures, we expect the stocks of companies that have it—and can maintain it—to become increasingly prized.

Lessons from the Nasdaq’s New High

by Brad McMillan of Commonwealth Financial Network

It’s been 15 years since the dot-com boom and bust, and the Nasdaq has finally reclaimed its old high. Both the Dow and the S&P 500 have hit a bunch of new highs since then, but the Nasdaq, which flew higher and crashed harder, didn’t make it back to the top of the mountain until yesterday.

Airlines Report on Q1 Earnings

by Frank Holmes of U.S. Global Investors

A recent Deutsche Bank report projects a total airline industry first-quarter pretax profit of $3.5 billion, up from $700 million this time last year—a 400-percent improvement.

Stock Splitting Caused Stock Market Crash 1929

by Wim Grommen of Transfer Solutions

This article explains why the introduction of stock splitting on December 31st, 1927 eventually caused the crash of 1929. The frequent splitting of shares into very large proportions gave a massive boost to the stock market boom, making the stock market crash of 1929 equally violent.

Foreign Factors

by Anthony Valeri of LPL Financial

Gauging foreign demand for U.S. bonds, Treasuries in particular, is a constant source of attention for bond investors, with foreign ownership of outstanding U.S. Treasuries remaining fairly constant at approximately 50% over the past few years.

Spring Quarterly Commentary

by John Prichard, Miles Yourman of Knightsbridge Asset Management

Charlie Munger, firmly ensconced in the investor hall of fame, remains, at age 91, one of our favorite purveyors of worldly wisdom on subjects investment related and otherwise. He is also known to be blunt and humorous, offering the above response to a question regarding money-printing, interest rates and unintended consequences at the Daily Journal shareholder meeting a few weeks ago. When a genius like Charlie is confused...then things indeed are confusing.

Recent dshort Posts

Vehicle Miles Traveled: Our Evolving Behavior

The Department of Transportation's Federal Highway Commission has released the latest report on Traffic Volume Trends, data through February.

"Travel on all roads and streets changed by 2.8% (6.1 billion vehicle miles) for February 2015 as compared with February 2014." The less volatile 12-month moving average is up 0.20% month-over-month and 2.36% year-over-year. If we factor in population growth, the 12-month MA of the civilian population-adjusted data (age 16-and-over) is a smaller change, up 0.13% month-over-month and up only 1.23% year-over-year.

World Markets Weekend Update: The Rally Resumes

Seven of the eight indexes on our world watch list traded higher this week, with China's Shanghai Composite as the top performer, up 2.48%. India's SENSEX was the outlier to the south, with a -3.53% contraction. In fact, the average of the seven gainers was an impressive 1.52%. But the SENSEX pulls the overall average down to 0.89%.

NYSE Margin Debt Hits an All-Time High

The NYSE margin debt data is about a month old when it is published. The latest debt level is up 2.5% month-over-month and at a record high. Real (inflation-adjusted) debt rose 1.9% month-over-month and also at a record high.

S&P 500 Snapshot: A Record Close to End the Week

The pre-market economic news was the release of the March Durable Goods, which had a strong headline number, but Core Capex posted its seventh consecutive decline and is down 4.0% year-over-year. The S&P 500 vacillated in the opening minutes and then trudged higher to its 0.38% intraday record high. The index then moved sideways most of the afternoon before settling for a 0.23% closing gain -- enough for a record high close.