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

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Recent Articles

Why 'Smart Beta' Is Really Dumb

by Michael Edesess

What does smart beta mean? Does it deserve the attention it is getting from the market and academia?

The Most Important Step to Convert Prospects

by Dan Richards

Most advisors using traditional mass-marketing methods without building early credibility will see heightened struggles to get a return on their effort. Fortunately, once the will and priority is in place, there are some proven models to successfully build credibility.

The Fundamental Misunderstanding That Costs You Assets

by Daniel Solin

A recent medical event involving one of my family members poignantly demonstrated the role emotions play in driving decisions. It also illustrated a fundamental misunderstanding about the decision-making process rampant among advisors.

Disproving the Four Themes Behind Gold Bearishness

by Trey Reik

The resurgent bear thesis for gold rests on four key assumptions. Because each of these assumptions is already in the process of being disproved, Western investment demand for gold will surge dramatically in coming years.

Only the Paranoid Survive

by Martin Weil

Only the paranoid survive, said Andy Grove. The quote comes to mind whenever I am talking with advisor colleagues who believe that they have little to fear from robo-advisors and the spread of technological innovation into the financial services arena.

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.

The Best Way to Train New Employees

by Beverly Flaxington

Some of my coworkers believe we should put on a sales hat and try and "sell" our new hires on how great we are. Others think we should stick purely to the facts and just say this is what we do and how we do it. Any perspective on what's better?

Gundlach - Beware of CNBC Pundits

by Robert Huebscher

On issues as central as the effect of quantitative easing or Fed tightening on interest rates, Jeffrey Gundlach says you shouldn't trust the pundits on CNBC.

Recent Commentaries

Half Full or Half Empty

by Herbert Abramson, Randall Abramson of Trapeze Asset Management

The ultimate question for investors. Is the glass half full, that is to say are economic backdrops improving to support attractive valuations, or to the contrary, half empty, deteriorating and threatening full valuations?


by Jeffrey Saut of Raymond James

My father first introduced me to Justin Mamis’ work by giving me a few of the books he had written like When to Sell: Inside Strategies for Stock-Market Profits, How to Buy: An Insider’s Guide to Making Money in the Stock Market, and my favorite, The Nature of Risk. Justin penned his last stock market letter at the age of 85 and his work is missed to this day. He was a stock market historian, author, strategist, and a technician’s technical analyst. I quoted him this morning because the stock market this year has been anything but “easy.”

Brexit Signs: Envisioning an EU Without the UK

by David Zahn, Heather Arnold, Philippe Brugere-Trelat of Franklin Templeton Investments

In my view, the big risk for the United Kingdom of exiting the EU would be marginalization, not just economically, not just financially but also politically … I would even go so far as to suggest that the status of the United Kingdom as a large world financial center could be at risk if it were to leave the EU.

Inflation Expectations Are Turning Back Over In The US

by Team of GaveKal Capital

TIPS derived breakeven inflation expectations have started to fall once again in May. For a little context, starting in last June, breakeven inflation started a steady march lower that lasted until January of this year. Since that time, we have seen a rebound in inflation expectations.

Yellen on Interest Rates and Equities, Grabs Attention

by Paul Eitelman of Russell Investments

Paul Eitelman compares recent comments from Fed Chair Janet Yellen to historical commentary and also provides an update on Russell Investments’ outlook on the U.S. economy.

Investing Without a Goal is Like Racing Without a Finish Line.

by Jerry Wagner of Flexible Plan Investments

In investing, there is no actual finish line, unless you subscribe to the old line that, “He who dies with the most money wins.” But investing, like most activities in life, is improved by having goals.

World War D—Deflation

by John Mauldin of Mauldin Economics

Everywhere I go I’m asked, “Will there be inflation or deflation? Are we in a bull or bear market? Is the bond bulk market over and will interest rates rise?" The flippant answer to all those questions is “Yes.” And that can be the correct answer as well, but it depends on what your time frame is and what tools you use to measure the markets and inflation.

The Importance of Liquidity

by Byron Wien of Blackstone

Since the axiom “Don’t fight the Fed” came into common parlance, we have all been aware that central bank policy is an important component of market performance. Most of us started out as security or business analysts and believed that fundamental factors like the pace of the economy, earnings growth and interest rates were the drivers of equity values.

Recent dshort Posts

Moving Averages: Month-End Preview

Here is an advance preview of the monthly moving averages we track after the close of the last business day of the month. At this point, before the open on the last day of the month, three S&P 500 strategies are now signaling "invested" -- unchanged from last month. One of the five of the Ivy Portfolio ETFs, PowerShares DB Commodity Index Tracking (DBC), is signal "cash", unchanged from last month as well.

S&P 500 Snapshot: A Modest Loss on Light Trading

The pre-market economic news was a 7K rise in new jobless claims, a bit higher than forecast. The S&P 500 opened an hour later at its -0.06% intraday high and dropped to a trading range for the next three hours that included its -0.50% intraday low. After the lunch hour, the index slowly trended higher to its -0.13% close.

The Median Household Income Rose in April

The Sentier Research monthly median household income data series is now available for April. The nominal median household income was up $375 month-over-month and up $1,549 year-over-year. That's a 0.7% MoM increase and 2.9% YoY. Adjusted for inflation, the latest income was up $309 MoM and $1,606 YoY. The real numbers equate to a 0.6% MoM increase and a 3.0% YoY. In real dollar terms, the median annual income is 4.7% lower ($2,703) than its interim high in January 2008 but well off its low in August 2011.

The Latest Philly Fed ADS Business Conditions Index

The Philly Fed's Aruoba-Diebold-Scotti Business Conditions Index (hereafter the ADS index) is a fascinating but relatively little known real-time indicator of business conditions for the U.S. economy, not just the Third Federal Reserve District, which covers eastern Pennsylvania, southern New Jersey, and Delaware. Thus it is comparable to the better-known Chicago Fed's National Activity Index.