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

Most Recent Articles

How to Choose the Right Fixed-Income Strategy by Joe Tomlinson

The fixed-income portion of retirement portfolios is just as important as the equity allocation, yet far less research has been devoted to it. Advisors must decide whether to pursue active or passive strategies and which types of bonds to recommend. I'll address those strategic choices and argue that the best approach is the simplest, lowest-cost one.

Most Recent Commentaries

European Bank Stocks: Time to Buy, or Bail? by Cindy Sweeting of Franklin Templeton Investments

In recent months, European banks have been under increased regulatory scrutiny, meeting the ire of regulators (in the United States in particular) for a range of alleged improprieties, resulting in sizable financial penalties. Throw in a bailout-inducing crisis at Portugal’s Espírito Santo bank, and it’s perhaps no surprise that share prices of many bank stocks in Europe have languished this year. These developments have provided investors with a stark reminder of the risks associated with investing in the banking sector.

“Bad News is Good” – A Hard Habit for Investors to Kick by Russ Koesterich of BlackRock

Last week’s market performance proved that investors are having a hard time kicking a certain habit: treating “bad news as good.” Russ explains, suggesting that investors continue to focus on relative value.

Not A Single Developed Sector Is Trading Below 22x P/E by Team of GaveKal Capital

Markets rarely turn on valuation levels alone. Most of the time it takes a case of irrational greed or fear to mark a turning point in the stock market. However, it is always wise to keep one eye on valuations in order to calibrate just how much more greed or fear can be squeezed out of current earnings.

Gold – Keeping it Real by Ade Odunsi of AdvisorShares

One of our favorite measures to monitor in relation to the gold market has been the relationship between the gold price expressed in US dollars and the US 10 year real yield with the real yield being the nominal yield on a government bond adjusted for inflation expectations. Over the long term studies have shown that gold has a much stronger relationship with real interest rates versus nominal interest rates.

Share and Share Alike?? by Richard Clarida of PIMCO

Labor compensation as a share of national income fell sharply in 2009–2010 and has remained depressed: The share of national income at the end of 2013 was the smallest slice paid to labor in at least 60 years! During the last three U.S. business cycles, the rise in labor’s share that commenced during the expansion phase of the business cycle was not accompanied by a material rise in PCE inflation.

Republic or Empire? An Update, Part 1 by Bill O'Grady of Confluence Investment Management

This topic was last discussed in our report from 2012. We have expanded sections of it in this update and, due to length, will present it in two parts. Over the past two years, how American society answers this question is becoming increasingly critical. There is a steady undercurrent in American politics that seeks to withdraw the U.S. from world affairs. In this report, we will discuss how the American republic began, how it evolved into an empire and how America conducted this role. Next week, we will finish our analysis and discuss market ramifications.

Europe Taking a Negative Turn by Chris Maxey, Ryan Davis of Fortigent

Among the highlights of a busy calendar of economic data last week was the flash estimate of second quarter Eurozone GDP. The region has come under greater scrutiny in recent months amid a disinflationary trend and slowing economic data. As we discussed a few weeks ago, the high profile failure of Portuguese bank Banco Espirito Santo has also inflamed worries that Europe’s financial system remains vulnerable to a systemic shock.

To Meet Or Not to Meet by Matthew Page of Guinness Atkinson Asset Management

We do not generally consider meeting management as a high priority, nor a prerequisite for investment, as some do. We much prefer to focus on the objective metrics of a company such as long-term profitability, balance sheet metrics, valuation etc. There are two main reasons for this. First, it is impossible to assess the impact of management or quantify the degree of success or failure that should be attributed to management in any objective way. Second, meeting management can put your objectivity at risk.

7 Characteristics of the Client of the Future by Sponsored Content from Transamerica

American families are changing, along with what they're demanding from their financial advisors. At a Transamerica Coaching Forum event last spring, Massachusetts Institute of Technology AgeLab director Joseph Coughlin, Ph.D., outlined some of the ways in which clients of retirement age have changed.

Five Steps to a Passionate Team by Dan Richards

Few things are more important than keeping your team motivated and staying motivated yourself.

Do Moving Average Strategies Really Work? by Paul Allen

Moving-average-crossover strategies have worked out very well in recent years. They prevented their followers from being invested in equities during the tech bubble and the financial crisis. Nevertheless, most of those strategies have underperformed the broad equity market since 2009. In this article, I will analyze all possible moving-average-crossover signals for the S&P 500 since 1928, to see if these strategies provide any value for investors.

When Senior Managers Make Bad Decisions by Beverly Flaxington

What do you tell an insurance-based planning organization that owns a mutual fund company, a broker-dealer and an annuity company and has a 150-year track record as a mutual life-insurance company but does not require its recruits to be equities licensed at even the Series 6 level? These so-called advisors meet with clients but cannot provide the full suite of products and services that the parent company has available.

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.

Three Ideas for Changing Your Investment Perspective by Mariko Gordon

Drawing, as with most skills, is something that can be learned. I share how a simple drawing trick unleashed my inner artist and how tricks, similarly applied, can improve your investment skills as well.

A Different Take on an Advisor's Fees by Daniel Solin

Some traditional advisors feel pressure to lower their fees to compete with robo-advisors, even though the services they offer are more comprehensive. These advisors have succumbed to the basic premise used to justify robo-advisors' existence: Cheap is good. Expensive is bad. Do the data support this premise?


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