I've worked with 3 different private wealth managers over the past 5 years, including Goldman Sachs. To date, I can say that: A. They have provided virtually no value in growing my net worth. They promise access to exclusive investment opportunities, but the investments

Exploring Bond Tax Efficiency: Futures or Bond ETFs?-- by Stephanie Lo, PhD alphaarchitect.com/?p=92431

By the time a company does a stock buyback, it is taxed four times*. Taxed when the company makes a profit, taxed when the owner sells the stock, taxed 1% buyback surcharge, and taxed 3.8% Medicare NIIT tax. Did I miss any? *Five times if you include state taxes.

IMO this is important for anyone building or running an advisory firm. Your value add in the investments is relatively minimal. The big value adds are in the financial planning, estate planning and tax services. Do less portfolio tinkering and more planning. I am hugely

Adding Leveraged, Long-Short Factor Strategies to Improve Tax Alpha-- by Larry Swedroe alphaarchitect.com/?p=92468

Heat training is one of the most important fitness adaptations driving performance breakthroughs across endurance sports. HOT TAKE: my Leadville 100 performance would not have been possible without loads of heat training. And it probably doesn't take much to harness the benefits

Composite equity relative sentiment (CERS) rebounded strongly last week from 42% to 66%--a solidly bullish reading. Dating back to 1994 (2018), the market has had an annualized return of 20% (28%) with a Sharpe of 1.3 (1.7) when CERS has been between 60%-80%. Moreover, the

RIP Chris Horton KIA 13 years ago today taking the fight to the enemy. We will never forget his sacrifice. Chris’s wife Jane Horton has made caring for Gold Star families her life’s work since losing Chris in honor of his memory. She’s an inspiration & true patriot.

In case you were wondering how equity mutual funds were doing, here's the latest monthly flow chart..

Exercise is a tremendous tool for combating sleep disorders!! See graphic explanations for sleep apnea (image 1), restless leg syndrome (next tweet/image), and the full paper link in tweet 3.

Investors trade Cryptos and Trad-Fi Differently-- Retail traders are contrarian in stocks and gold, yet the same traders follow a momentum-like strategy in cryptocurrencies. by Elisabetta Basilico, PhD, CFA alphaarchitect.com/?p=92093

Remember.

Investing in quality companies with exciting prospects is about the worst investment strategy one can fathom -- unless one considers the price paid. I think a famous guy named Warren Buffett talked about this before. 🤣 Common sense is not always common.

Have you ever heard anyone mention this? An additional benefit of ETFs vs. separate accounts is the fees are tax deductible. via Wes Gray 🇺🇸 Common problem: Advisor fees are not tax-deductible. The current tax code does not allow the deductibility of financial advisory

For anyone who wants to become a better writer, my three-part series is here.

Any dental practice focused RIAs out there? A good friend is looking for an advisor who specializes in this area. Please DM or email.