In late 2011, I was amazed by the valuations financial services stocks were being awarded. Having blown up (for all practical purposes) the financial system beginning in the summer of 2007, it was only natural that financial stocks should be sold off, because, well, some were insolvent.
Here at REP. magazine and WealthManagement.com, we receive loads of books each year on finance, investing strategies, business, leadership and other how-to-invest-in-various-financial-instruments books.
Greg Friedman, owner of Friedman & Associates, and Richard Stone, founder of Salient Wealth Management, met some years ago at a Schwab IMPACT conference. Turns out their financial advisory offices were within 10 miles of each other.
A few years later, Stone says he came to a crossroads. His firm, Salient had hit a wall. The practice had met growth targets, but Stone says, to remain on the growth path he had to master technology and create a deeper bench of employees. “If I would have lost one or two people, we would have been in trouble,” Stone says.
Remember Oct. 19, 1987? That was the day the Dow Jones Industrial Average lost 22.6 percent in one trading day. That was a Monday and by that Saturday, J. Hagood Ellison Jr. and E. Robertson Kibler, both Merrill Lynch financial advisors, were huddling to change their business models. Back then, the classic brokerage model reigned: stock picking for commissions.
I love to read GMO’s quarterly reports. For obvious reasons: Everybody loves to read about horror. GMO, for the few who don’t know, is a famous asset manager (about $100 billion in assets under management) founded by Jeremy Grantham and his partners.
The New York Post published an interesting article recently explaining to the lay reader just what, as the NYP’s headline writers put it, the Libor scandal really means. The paper’s headline read, “Li(e)bor Confirms It’s Rigged.” Wait. Bankers rigging inter-bank lending to suit their needs? No way! That’s a shock.
Recent statistics show markedly improved longevity rates. Between 1985 and 2010, the number of people living past age 90 tripled and will quadruple in the next 40 years. In addition, death rates for various diseases including the two leading killers (heart disease and cancer) have decreased from 38% to 13.5% over the past 10 years....More
You make sure you practice good diversification techniques when advising your clients on their portfolios. Now, with this webinar, you can discover a key way to diversify your practice, with a wider client base that is geared for future growth....More
Investors tend to look at portfolio risk in terms of geographic exposure or asset classes—but that's not always an accurate gauge. Taking a broader view of risk assessment can provide a better sense of how the portfolio will perform in volatile markets....More