Market Insights
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BPASThis document provides a summary of market insights and strategies for success from Ralph Acampora's 2015 Partner Conference presentation. It includes the following key points: 1) The 10-year bond yield remains in a firm downtrend, making lower lows and highs, and would need to close above 3.5% to reverse the secular downtrend. 2) Historically, periods of rising and falling interest rates have impacted returns differently - rising rate periods favored corporate bonds while falling rate periods favored stocks. 3) Several stock market indexes are discussed, including the S&P 500 remaining in a secular uptrend after breaking out of a 13-year bear market, and signs of negative divergence between industrial and
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Fund.info gamg us_large_cap_31_may_2014 (1)
Greenwich Asset Management Group (GAMG) is an investment management firm located in Greenwich, Connecticut that manages the GAMG US Large Cap fund, a US large-cap equity fund. The fund invests in 40 equally weighted US stocks selected based on high fundamentals. Peter Lundstedt is the fund manager and main contact at GAMG. The fund has been in operation since 2009 and has achieved annual returns of 16.71% with a Sharpe ratio of 0.93 since inception.
Macro 16
This document provides information about central banks and monetary policy tools. It discusses central bank goals of maintaining price stability and full employment. The document outlines various monetary policy tools used by central banks, including open market operations, the discount rate, and reserve requirements. It also discusses the money multiplier and its relationship to the reserve ratio. The chairman of the US central bank, the Federal Reserve Bank, is Jerome Powell.
Weekly Economic Update
Fewer homes are selling due to high demand, prices and low inventory. Existing home sales fell 4.8% year-over-year in January. The Federal Reserve minutes emphasized a "gradual" approach to further interest rate hikes. Oil prices rose for the second straight week while stocks gained across the week led by a 1.35% rise in the Nasdaq Composite. The economic calendar for this week includes new home sales, consumer confidence data and many company earnings reports.
Should the Fed Raise Interest Rates in 2015?
The document discusses whether the US Federal Reserve should raise interest rates in 2015 based on the Taylor Rule. The Taylor Rule recommends that the Fed's policy rate should be at 0.36% currently given inflation at 1.2% and unemployment at 5.5%, and should rise to 0.78% by the end of 2015 based on projections. This supports the Fed's forecast of two rate hikes in 2015. However, there is uncertainty around the economy and whether inflation and unemployment will match projections, and rate hikes could negatively impact markets and emerging economies. While these are valid concerns, the Fed seems intent on raising rates in the coming months.
Derivative report 27th may
Markets ended the session on a mixed note, amid choppy trades, as investors turned cautious
ahead of May F&O expiry due on Thursday. Disappointing earnings from Tata
Motors and Tech Mahindrawere a major drag on the markets. However, buying demand among
financials and oil shares limited the losses to a great extent.
Equilibrium is better when right time .. right factor
One for all , all for one on economy then Impact factor 'll useful for both macro and micro to urge higher economy
Economic Update for the Week of April 16, 2018
The consumer sentiment index declined slightly in April due to uncertainty around trade policy, but confidence remains high. The consumer price index unexpectedly fell 0.1% in March, driven by lower gasoline costs. Oil prices rose over 8% for the week, breaking a losing streak. Stocks climbed last week as earnings season began, with the S&P 500 gaining nearly 2% due to less anxiety about tariffs and optimism in tech and financial shares.
The money illusion look at whats real
In behavioral economics there is a theory called “money illusion,” which is the tendency of people to think of currency in nominal terms, rather than in real, or net of inflation, terms. With nominal interest rates on the rise and at their highest levels in over a decade, it is timely to remind investors of the importance of thinking in real terms, and not just nominal.
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Fund.info gamg us_large_cap_31_may_2014 (1)
Greenwich Asset Management Group (GAMG) is an investment management firm located in Greenwich, Connecticut that manages the GAMG US Large Cap fund, a US large-cap equity fund. The fund invests in 40 equally weighted US stocks selected based on high fundamentals. Peter Lundstedt is the fund manager and main contact at GAMG. The fund has been in operation since 2009 and has achieved annual returns of 16.71% with a Sharpe ratio of 0.93 since inception.
Macro 16
This document provides information about central banks and monetary policy tools. It discusses central bank goals of maintaining price stability and full employment. The document outlines various monetary policy tools used by central banks, including open market operations, the discount rate, and reserve requirements. It also discusses the money multiplier and its relationship to the reserve ratio. The chairman of the US central bank, the Federal Reserve Bank, is Jerome Powell.
Weekly Economic Update
Fewer homes are selling due to high demand, prices and low inventory. Existing home sales fell 4.8% year-over-year in January. The Federal Reserve minutes emphasized a "gradual" approach to further interest rate hikes. Oil prices rose for the second straight week while stocks gained across the week led by a 1.35% rise in the Nasdaq Composite. The economic calendar for this week includes new home sales, consumer confidence data and many company earnings reports.
Should the Fed Raise Interest Rates in 2015?
The document discusses whether the US Federal Reserve should raise interest rates in 2015 based on the Taylor Rule. The Taylor Rule recommends that the Fed's policy rate should be at 0.36% currently given inflation at 1.2% and unemployment at 5.5%, and should rise to 0.78% by the end of 2015 based on projections. This supports the Fed's forecast of two rate hikes in 2015. However, there is uncertainty around the economy and whether inflation and unemployment will match projections, and rate hikes could negatively impact markets and emerging economies. While these are valid concerns, the Fed seems intent on raising rates in the coming months.
Derivative report 27th may
Markets ended the session on a mixed note, amid choppy trades, as investors turned cautious
ahead of May F&O expiry due on Thursday. Disappointing earnings from Tata
Motors and Tech Mahindrawere a major drag on the markets. However, buying demand among
financials and oil shares limited the losses to a great extent.
Equilibrium is better when right time .. right factor
One for all , all for one on economy then Impact factor 'll useful for both macro and micro to urge higher economy
Economic Update for the Week of April 16, 2018
The consumer sentiment index declined slightly in April due to uncertainty around trade policy, but confidence remains high. The consumer price index unexpectedly fell 0.1% in March, driven by lower gasoline costs. Oil prices rose over 8% for the week, breaking a losing streak. Stocks climbed last week as earnings season began, with the S&P 500 gaining nearly 2% due to less anxiety about tariffs and optimism in tech and financial shares.
The money illusion look at whats real
In behavioral economics there is a theory called “money illusion,” which is the tendency of people to think of currency in nominal terms, rather than in real, or net of inflation, terms. With nominal interest rates on the rise and at their highest levels in over a decade, it is timely to remind investors of the importance of thinking in real terms, and not just nominal.
Auto Trading Systems, 2010 Newsletter
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ClearPath Investment Perspectives - Nov 17 2014
The document is a weekly investment newsletter from ClearPath Capital Partners dated November 17, 2014. It provides an overview of the US and global economic outlooks, recent market performance, and commentary on stocks, bonds, and consumer spending. Global GDP and inflation are forecast to increase in 2014 and 2015. US GDP is expected to grow 2.9% in 2014 and stock markets posted gains last week, with the S&P 500 up 7.21% for the month. Retail sales rose slightly in October and lower gas prices are expected to boost consumer spending.
Market Perspectives - May 2017
The document examines several long-held stock market anomalies and legends, such as "sell in May and go away" and the January effect. While the data behind these anomalies seems compelling initially, the document notes that many do not hold up over the long-term or in recent years. For example, a portfolio reflecting "sell in May and go away" did not consistently outperform a simple buy-and-hold strategy. The January effect and January barometer also have not predicted market performance reliably in recent years. The conclusion is that investors should stay invested and consider multiple data sources and perspectives rather than relying on isolated anomalies.
Market Perspectives - March 2017
Corporate earnings have rebounded in recent quarters, growing 6.35% year-over-year in the S&P 500 after several years of decline. Analysts expect further modest earnings growth in 2017 and stronger double-digit growth beyond 2017, though estimates are often overly optimistic. While recent positive economic data and potential pro-business policies under Trump have boosted expectations, current stock valuations are very high by historical standards given the stage of the economic cycle in the absence of confirmed policy changes. Continued earnings growth and flexibility will be important for investors as policy developments unfold.
Market Perspectives - November 2017
Corporate earnings have rebounded over the past year, with S&P 500 companies reporting year-over-year earnings growth of 7.2% and sales growth of 5.5% in Q2 2017. Forecasters expect this earnings growth trend to continue in the mid-single digits. Most S&P 500 companies reported positive earnings and sales surprises this quarter. Additionally, international earnings growth has outpaced domestic earnings growth for the first time in many years, helped by a weaker US dollar. Going forward, policy changes like tax reform could further boost earnings growth.
Market Perspectives August 2017
Below please find a link to our monthly market perspective piece for August. Due to the recent rebound in quarterly corporate earnings, this month we explore the importance of this fundamental underpinning to the equity markets.
Market Perspective April 2017
Below please find a link to our monthly market perspective piece for December. This month we explore a variety of factors potentially driving markets and evaluate the risks and rewards lying beneath the surface.
Monthly Market Perspective - January 2017
Below please find a link to our monthly market perspective piece for January. This month, with the transition in Washington upon us, we reflect on what impact prior presidential cycles had on markets, and assess how this one may turn out.
Rieger report oct 2018 month end munis corporates
- Municipal bond indexes fell in October, with tobacco settlement bonds down the most at 2.92%. Year-to-date municipal bonds are slightly negative.
- The yield on 10-year AAA municipal bonds increased 28 basis points in October.
- Certain municipal bond sectors like tobacco settlement bonds underperformed in October due to sector-specific factors.
Market perspective - June 2017
The S&P 500 returns in 2017 have been primarily driven by five technology stocks: Facebook, Apple, Amazon, Microsoft, and Google/Alphabet (FAAMG). Together these stocks contributed 30% of the S&P 500 performance. While some see this as a tech bubble, analysts argue valuations are reasonable given growth rates and cash flows. These companies are also changing the economy through cloud computing, e-commerce, advertising, and media consumption. Going forward, technology is likely to continue driving innovation and benefiting from increasing digitalization.
Slideshareexample
UK inflation hit a new two-and-a-half year high of 4.5% in April, driven largely by increases in alcohol, tobacco, and transport prices. While this level of inflation was expected in the Bank of England's recent report, it raises the possibility of the rate exceeding their projected 5% mark sooner than expected. However, the language from Bank officials suggests they will likely keep interest rates unchanged at their next meeting despite the rising inflation.
Personal Freedom
1. The document outlines a four step process for 1099 contractors to achieve financial success: protect what you have through insurance, take control of cash flow, invest wisely, and manage taxes.
2. It discusses the importance of medical, disability, and life insurance to protect one's assets and income.
3. It recommends building a cash reserve and paying down credit cards to take control of cash flow.
4. Investing in tax-advantaged accounts like 401ks, SEPs, and mutual funds for long-term growth is presented as a key part of investing wisely.
5. Higher-income individuals are noted to pay the majority of federal income taxes, so managing taxes is
Market Perspectives - July 2017
The document discusses the unusually low market volatility seen in 2017 so far. It notes that historically there has typically been a 5% market pullback in 91% of years, yet 2017 has seen the market continue moving higher without significant corrections. It examines measures of implied market volatility like the VIX index, which is at record lows, indicating that options traders do not expect much price volatility. While low volatility has persisted for an extended period, the document concludes that over time markets typically return to having a normal range of up and down trends, and investors should avoid complacency and prepare for opportunities that market corrections may bring.
Macro 14
The document summarizes key concepts related to central banking and monetary policy tools. It discusses the Federal Reserve System as the central bank of the United States, its role in controlling the money supply through tools like open market operations, reserve ratios, and setting the discount rate. It also covers how these tools can be used to expand or contract the money supply and their influence on interest rates and aggregate demand.
Market Perspectives - November 2019
The market volatility of late summer seemed to fade as markets hit new highs in November due to optimism around a trade deal and accommodative monetary policy. While overall earnings declined slightly in Q3 due to weaknesses in energy, materials, and tech, most companies still saw sales growth and expressed a positive outlook. Larger companies have seen stronger earnings growth. The Treasury yield curve flattened again in November after widening for months, which bears watching given past recessions have followed yield curve inversions. Most analysts anticipate an earnings recovery in coming quarters but will monitor trends closely given high market valuations.
Maximizing Plan Assets
This document summarizes strategies presented by BPAS at their 2015 partner conference to help participants better manage their retirement assets. The strategies included having a dedicated rollover specialist help participants consolidate outside accounts, ensuring participant loan policies are prudent by limiting the number and source of loans, and helping terminated employees understand their options like keeping assets in the plan or rolling over to an IRA. BPAS's goal is to work with their partners to strengthen support for participants and grow both organizations through these retirement saving and planning initiatives.
The Finalists Presentation: Presenting our Partnership - Paul Neveu & Liz Kaido
The document summarizes a meeting between First National Bank and Charlotte Engineering to discuss providing administrative services for Charlotte Engineering's 401(k) retirement plan. It outlines First National Bank's services including simplifying tasks for HR, providing educational resources and investment guidance for participants, and fiduciary services. It also describes the capabilities of their partner, BPAS, including recordkeeping, a call center, participant and sponsor websites, and reporting. Fees are discussed as well as the onboarding process for transitioning the plan.
BPAS Firm Update
The document summarizes Barry Kublin's presentation at the 2014 BPAS Partner Conference. The presentation provided an update on BPAS's capabilities, strategies for competing in the 401k/403b marketplace, and business opportunities beyond traditional plans. It also covered regulatory updates, contemporary investment issues, and advocacy efforts. BPAS has expanded significantly since being founded in 1973, now with 9 offices, 240 professionals, 3,600 clients, and $16 billion in assets under custody. The presentation concluded by thanking partners and looking forward to feedback to improve their partnership.
Growing Your Practice in a Fee-Compressed Environment
The document summarizes a panel discussion from a 2015 partner conference on growing a retirement plan services practice in a fee compressed environment. The panel discussed their processes for educating both new and existing clients on the services they provide. Panelists included representatives from Peoples United Bank, Rockland Trust, and Pension Advisors. They welcomed attendees and took questions on how to understand clients and maintain existing business in today's market.
The Retirement Landscape: Technical and Legal Update
The DoL’s proposed fiduciary regulation is the most controversial ERISA initiative since the enactment of the statute in 1974. If adopted as proposed, the regulation will have significant impact on financial institutions selling products to IRAs and 401(k) plans. The proposed changes would essentially open up the $7 trillion IRA market to ERISA, impacting the sale of investment products, from mutual funds to variable annuities, to IRAs. The proposal would also change the definition of an “advice fiduciary,” making it easier for the DoL to assert claims against persons or entities selling investment products or gathering assets.
In this session, we’ll discuss the impact of the DoL proposal for your business, from the stand-point of what needs to be changed to make the proposal “workable” and what you’ll need to do to comply if the proposal is adopted without change. Specifically, this session will focus on:
Changes to the definition of Investment Advice Fiduciary
Fiduciary status “carve-outs” for sales presentations
The new Best Interest Contract Exemption for IRAs
Changes to PTE 84-24 and other Exemptions
Guest Speaker: Steve Saxon, Principal, Groom Law Group
Growing Your Practice in a Fee-Compressed Environment - Jason Disco
The document summarizes a panel discussion at a 2015 partner conference about growing a retirement plan services practice in a fee compressed environment. The panelists were Mike DeCamillis, William Desormeau, and Dirk Richardson. They discussed their processes for educating both new and existing clients about the services they provide to help clients understand value in a competitive market.
Broadening the Scope of Your Practice
Paul Neveu and Elizabeth Kaido gave a presentation on broadening the scope of retirement plan businesses. They discussed different plan types including bundled DC and cash balance plans, company stock plans, ESOPs, kSOPs, and prevailing wage plans. They provided an overview of each plan type and identified opportunities for advisors to grow their practices.
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Auto Trading Systems, 2010 Newsletter
- Most of the auto trading systems posted profits in December, with an average return of over 10%. For the full year, all systems were profitable with an average return of 65%.
- The largest monthly profit was $1,187.50 from the EuroRun EC system trading Euro futures.
- Auto Trading Systems now offers automated forex trading systems in addition to existing futures systems, including a system targeting the EUR/USD pair and a managed forex program.
ClearPath Investment Perspectives - Nov 17 2014
The document is a weekly investment newsletter from ClearPath Capital Partners dated November 17, 2014. It provides an overview of the US and global economic outlooks, recent market performance, and commentary on stocks, bonds, and consumer spending. Global GDP and inflation are forecast to increase in 2014 and 2015. US GDP is expected to grow 2.9% in 2014 and stock markets posted gains last week, with the S&P 500 up 7.21% for the month. Retail sales rose slightly in October and lower gas prices are expected to boost consumer spending.
Market Perspectives - May 2017
The document examines several long-held stock market anomalies and legends, such as "sell in May and go away" and the January effect. While the data behind these anomalies seems compelling initially, the document notes that many do not hold up over the long-term or in recent years. For example, a portfolio reflecting "sell in May and go away" did not consistently outperform a simple buy-and-hold strategy. The January effect and January barometer also have not predicted market performance reliably in recent years. The conclusion is that investors should stay invested and consider multiple data sources and perspectives rather than relying on isolated anomalies.
Market Perspectives - March 2017
Corporate earnings have rebounded in recent quarters, growing 6.35% year-over-year in the S&P 500 after several years of decline. Analysts expect further modest earnings growth in 2017 and stronger double-digit growth beyond 2017, though estimates are often overly optimistic. While recent positive economic data and potential pro-business policies under Trump have boosted expectations, current stock valuations are very high by historical standards given the stage of the economic cycle in the absence of confirmed policy changes. Continued earnings growth and flexibility will be important for investors as policy developments unfold.
Market Perspectives - November 2017
Corporate earnings have rebounded over the past year, with S&P 500 companies reporting year-over-year earnings growth of 7.2% and sales growth of 5.5% in Q2 2017. Forecasters expect this earnings growth trend to continue in the mid-single digits. Most S&P 500 companies reported positive earnings and sales surprises this quarter. Additionally, international earnings growth has outpaced domestic earnings growth for the first time in many years, helped by a weaker US dollar. Going forward, policy changes like tax reform could further boost earnings growth.
Market Perspectives August 2017
Below please find a link to our monthly market perspective piece for August. Due to the recent rebound in quarterly corporate earnings, this month we explore the importance of this fundamental underpinning to the equity markets.
Market Perspective April 2017
Below please find a link to our monthly market perspective piece for December. This month we explore a variety of factors potentially driving markets and evaluate the risks and rewards lying beneath the surface.
Monthly Market Perspective - January 2017
Below please find a link to our monthly market perspective piece for January. This month, with the transition in Washington upon us, we reflect on what impact prior presidential cycles had on markets, and assess how this one may turn out.
Rieger report oct 2018 month end munis corporates
- Municipal bond indexes fell in October, with tobacco settlement bonds down the most at 2.92%. Year-to-date municipal bonds are slightly negative.
- The yield on 10-year AAA municipal bonds increased 28 basis points in October.
- Certain municipal bond sectors like tobacco settlement bonds underperformed in October due to sector-specific factors.
Market perspective - June 2017
The S&P 500 returns in 2017 have been primarily driven by five technology stocks: Facebook, Apple, Amazon, Microsoft, and Google/Alphabet (FAAMG). Together these stocks contributed 30% of the S&P 500 performance. While some see this as a tech bubble, analysts argue valuations are reasonable given growth rates and cash flows. These companies are also changing the economy through cloud computing, e-commerce, advertising, and media consumption. Going forward, technology is likely to continue driving innovation and benefiting from increasing digitalization.
Slideshareexample
UK inflation hit a new two-and-a-half year high of 4.5% in April, driven largely by increases in alcohol, tobacco, and transport prices. While this level of inflation was expected in the Bank of England's recent report, it raises the possibility of the rate exceeding their projected 5% mark sooner than expected. However, the language from Bank officials suggests they will likely keep interest rates unchanged at their next meeting despite the rising inflation.
Personal Freedom
1. The document outlines a four step process for 1099 contractors to achieve financial success: protect what you have through insurance, take control of cash flow, invest wisely, and manage taxes.
2. It discusses the importance of medical, disability, and life insurance to protect one's assets and income.
3. It recommends building a cash reserve and paying down credit cards to take control of cash flow.
4. Investing in tax-advantaged accounts like 401ks, SEPs, and mutual funds for long-term growth is presented as a key part of investing wisely.
5. Higher-income individuals are noted to pay the majority of federal income taxes, so managing taxes is
Market Perspectives - July 2017
The document discusses the unusually low market volatility seen in 2017 so far. It notes that historically there has typically been a 5% market pullback in 91% of years, yet 2017 has seen the market continue moving higher without significant corrections. It examines measures of implied market volatility like the VIX index, which is at record lows, indicating that options traders do not expect much price volatility. While low volatility has persisted for an extended period, the document concludes that over time markets typically return to having a normal range of up and down trends, and investors should avoid complacency and prepare for opportunities that market corrections may bring.
Macro 14
The document summarizes key concepts related to central banking and monetary policy tools. It discusses the Federal Reserve System as the central bank of the United States, its role in controlling the money supply through tools like open market operations, reserve ratios, and setting the discount rate. It also covers how these tools can be used to expand or contract the money supply and their influence on interest rates and aggregate demand.
Market Perspectives - November 2019
The market volatility of late summer seemed to fade as markets hit new highs in November due to optimism around a trade deal and accommodative monetary policy. While overall earnings declined slightly in Q3 due to weaknesses in energy, materials, and tech, most companies still saw sales growth and expressed a positive outlook. Larger companies have seen stronger earnings growth. The Treasury yield curve flattened again in November after widening for months, which bears watching given past recessions have followed yield curve inversions. Most analysts anticipate an earnings recovery in coming quarters but will monitor trends closely given high market valuations.
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Maximizing Plan Assets
This document summarizes strategies presented by BPAS at their 2015 partner conference to help participants better manage their retirement assets. The strategies included having a dedicated rollover specialist help participants consolidate outside accounts, ensuring participant loan policies are prudent by limiting the number and source of loans, and helping terminated employees understand their options like keeping assets in the plan or rolling over to an IRA. BPAS's goal is to work with their partners to strengthen support for participants and grow both organizations through these retirement saving and planning initiatives.
The Finalists Presentation: Presenting our Partnership - Paul Neveu & Liz Kaido
The document summarizes a meeting between First National Bank and Charlotte Engineering to discuss providing administrative services for Charlotte Engineering's 401(k) retirement plan. It outlines First National Bank's services including simplifying tasks for HR, providing educational resources and investment guidance for participants, and fiduciary services. It also describes the capabilities of their partner, BPAS, including recordkeeping, a call center, participant and sponsor websites, and reporting. Fees are discussed as well as the onboarding process for transitioning the plan.
BPAS Firm Update
The document summarizes Barry Kublin's presentation at the 2014 BPAS Partner Conference. The presentation provided an update on BPAS's capabilities, strategies for competing in the 401k/403b marketplace, and business opportunities beyond traditional plans. It also covered regulatory updates, contemporary investment issues, and advocacy efforts. BPAS has expanded significantly since being founded in 1973, now with 9 offices, 240 professionals, 3,600 clients, and $16 billion in assets under custody. The presentation concluded by thanking partners and looking forward to feedback to improve their partnership.
Growing Your Practice in a Fee-Compressed Environment
The document summarizes a panel discussion from a 2015 partner conference on growing a retirement plan services practice in a fee compressed environment. The panel discussed their processes for educating both new and existing clients on the services they provide. Panelists included representatives from Peoples United Bank, Rockland Trust, and Pension Advisors. They welcomed attendees and took questions on how to understand clients and maintain existing business in today's market.
The Retirement Landscape: Technical and Legal Update
The DoL’s proposed fiduciary regulation is the most controversial ERISA initiative since the enactment of the statute in 1974. If adopted as proposed, the regulation will have significant impact on financial institutions selling products to IRAs and 401(k) plans. The proposed changes would essentially open up the $7 trillion IRA market to ERISA, impacting the sale of investment products, from mutual funds to variable annuities, to IRAs. The proposal would also change the definition of an “advice fiduciary,” making it easier for the DoL to assert claims against persons or entities selling investment products or gathering assets.
In this session, we’ll discuss the impact of the DoL proposal for your business, from the stand-point of what needs to be changed to make the proposal “workable” and what you’ll need to do to comply if the proposal is adopted without change. Specifically, this session will focus on:
Changes to the definition of Investment Advice Fiduciary
Fiduciary status “carve-outs” for sales presentations
The new Best Interest Contract Exemption for IRAs
Changes to PTE 84-24 and other Exemptions
Guest Speaker: Steve Saxon, Principal, Groom Law Group
Growing Your Practice in a Fee-Compressed Environment - Jason Disco
The document summarizes a panel discussion at a 2015 partner conference about growing a retirement plan services practice in a fee compressed environment. The panelists were Mike DeCamillis, William Desormeau, and Dirk Richardson. They discussed their processes for educating both new and existing clients about the services they provide to help clients understand value in a competitive market.
Broadening the Scope of Your Practice
Paul Neveu and Elizabeth Kaido gave a presentation on broadening the scope of retirement plan businesses. They discussed different plan types including bundled DC and cash balance plans, company stock plans, ESOPs, kSOPs, and prevailing wage plans. They provided an overview of each plan type and identified opportunities for advisors to grow their practices.
Grow Your Practice with Customized Collective Trusts for 401K Model Portfolio
This document summarizes strategies for using collective investment trust funds (CITFs) to bring value to retirement plans and clients. It discusses the history and benefits of CITFs, opportunities in the CITF space including model portfolios and customized solutions, and how CITFs can be used in model portfolios and custom solutions. It also discusses the 2015 fiduciary regulations and their impact on transparency requirements for model portfolios.
Winning Plans through Value Added Administration - Brian Douglas - Joe Boyle ...
Speakers:
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- Joe Boyle, External Wholesaler, BPAS Plan Administration & Recordkeeping Services
-Sean Arnold, Product Manager, BPAS AutoRollovers & MyPlanLoan Services
Managing Investment Return Experiences and Expectations - Greg Woods and Panel
Moderator:
Greg Woods
VP, BPAS Fiduciary Services
Panelists:
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- Michael T. DiMarsico, SVP, National Manager, Manager Resource Consulting, Federated
- Harry Rakovski, Director - RIA & Consultant Division Northeast, Prudential Investments Management, LLC
Strategies to Overcome Objections to Auto Plans - Elizabeth Kaido
This document summarizes a presentation on strategies to overcome objections to automatic enrollment plans. It discusses the benefits of automatic enrollment, escalation, and re-enrollment features in increasing retirement savings rates. It addresses common sponsor objections that these features are too paternalistic, employees can't afford to save, or are too costly and administratively burdensome. The presentation provides data showing that automatic plans dramatically increase participation and savings rates with minimal opt-out rates. It also notes ways that automatic plans can reduce an advisor's workload while engaging more participants in financial wellness.
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The Finalists Presentation: Presenting our Partnership - Paul Neveu & Liz Kaido
The Finalists Presentation: Presenting our Partnership - Paul Neveu & Liz Kaido
Growing Your Practice in a Fee-Compressed Environment
Growing Your Practice in a Fee-Compressed Environment
The Retirement Landscape: Technical and Legal Update
The Retirement Landscape: Technical and Legal Update
Growing Your Practice in a Fee-Compressed Environment - Jason Disco
Growing Your Practice in a Fee-Compressed Environment - Jason Disco
Grow Your Practice with Customized Collective Trusts for 401K Model Portfolio
Grow Your Practice with Customized Collective Trusts for 401K Model Portfolio
Winning Plans through Value Added Administration - Brian Douglas - Joe Boyle ...
Winning Plans through Value Added Administration - Brian Douglas - Joe Boyle ...
Managing Investment Return Experiences and Expectations - Greg Woods and Panel
Managing Investment Return Experiences and Expectations - Greg Woods and Panel
Strategies to Overcome Objections to Auto Plans - Elizabeth Kaido
Strategies to Overcome Objections to Auto Plans - Elizabeth Kaido
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Q3 FY15 Atento Earnings Presentation
Atento reported its third quarter 2015 results. Revenue grew 9.4% year-over-year to $476.2 million driven by growth in Latin America of 11.7%. Adjusted EBITDA increased 4.2% to $65.8 million, with margins of 13.8%. Adjusted EPS grew 35.4% to $0.31. Atento reaffirmed its full year 2015 guidance for revenue growth between 6-9% and adjusted EBITDA margins between 13-13.5%. While macroeconomic headwinds present challenges, Atento remains focused on its strategic initiatives to drive growth, operational excellence, and strengthen its competitive position.
GTI Research-UBA9Months 2015 Report
1) United Bank for Africa (UBA) reported a 17.32% rise in gross earnings and a 44.39% increase in net income for the first nine months of 2015 compared to the same period in 2014.
2) UBA's margins improved year-over-year, with net interest income margin rising from 54.86% to 58.32% and pre-tax profit margin increasing from 20.19% to 23.20%.
3) The analyst provides a positive recommendation on UBA, setting a fair value of N6.09 per share compared to the current price of N3.60, representing an undervaluation of 67.17% based on 2015 forecasts.
SSIF Performance Update for Investment Committee - FY2015
This document summarizes the performance of the Sprott Student Investment Fund portfolio for the 2015 calendar year. It provides details on the fund's investment philosophy, holdings, sector and geographic allocations. It analyzes the fund's relative performance compared to benchmarks, finding it underperformed primarily due to weak stock selection. A factor analysis shows the portfolio behaved more like a growth fund than value fund. Overall, the analysis finds opportunities to improve performance by better understanding drivers of excess returns and underperformance.
Q1 Fiscal 2015 Results
Signet Jewelers reported first quarter fiscal 2015 results with same store sales up 3.3%. US same store sales increased 3.2% led by 4.2% growth at Kay and 2.3% at Jared. UK same store sales grew 4.1% with Ernest Jones up 5.0%. Operating income was $150.7 million, up 5.5% year-over-year. Adjusted operating income increased 11.4% to $159.1 million. Signet reiterated fiscal 2015 guidance expecting same store sales growth of 3-5% and adjusted diluted EPS of $4.15-$4.35.
Visa inc.-q3-2018-financial-results-conference-call-presentation
Visa reported financial results for its fiscal third quarter of 2018, with net operating revenues increasing 15% year-over-year to $5.2 billion. Payments volume grew 14% to nearly $2 trillion, and processed transactions increased 10% to over 46 billion. Adjusted earnings per share, which excludes a special litigation provision, increased 39% to $1.20. Visa also provided an outlook for full-year 2018, expecting low double-digit revenue growth and adjusted earnings per share growth in the low 30% range.
Tricumen / Rates markets vignettes 160315
Rates markets vignettes
Periodically, we compile series of snapshots on markets that have seen interesting developments in recent times. This note includes a selection of such high-level snapshots for Rates markets, with special emphasises on EMEA and Americas.
Q3 2015 earnings call presentation
- Third quarter financial results for Hillenbrand, a global diversified industrial company, showed revenue declining 4% to $399 million but increasing 3% on a constant currency basis driven by higher volume in both business segments.
- Adjusted earnings per share decreased 10% to $0.52 per diluted share while adjusted EBITDA declined 6% and operating cash flow was $76 million through the first three quarters.
- The Process Equipment Group saw a 4% constant currency revenue increase and a 110 basis point expansion in adjusted EBITDA margin, while Batesville had a 2% revenue increase but a 120 basis point decline in adjusted gross margin.
Twitter Q3 2015 Financial Results
- Twitter reported financial results for Q3 2015 with revenue of $569 million, up 58% year-over-year and above guidance. Non-GAAP net income was $67 million, up from $7 million in Q3 2014.
- Monthly active users grew 11% year-over-year to 320 million. Twitter launched several new products and features in Q3 and expanded its partnerships and commerce offerings.
- For Q4 2015, Twitter expects revenue of $695-710 million and adjusted EBITDA of $155-175 million.
Q3 2015 Earnings Deck Final 2
- Third quarter earnings results presentation from Masco Corporation dated October 27, 2015
- Sales increased 4% excluding foreign currency effects, with North American sales up 3% and international up 4%
- Improved demand, operating leverage, cost control and cost productivity drove profit margin expansion and earnings growth despite currency headwinds
- All business segments showed strong profitability with margins expanding across most segments
Wolfe Power & Gas Leaders Presentation
The document is a presentation by Tom O'Flynn, Executive Vice President & Chief Financial Officer of AES Corporation, given at the Wolfe Power & Gas Leaders Conference on September 30, 2015. It contains forward-looking statements and provides an overview of AES Corporation, including its strategic business units, growth drivers, financial metrics, capital allocation plans, and assumptions. Key points include AES operating in six strategic business units, an $7 billion construction program driving 10-15% annual free cash flow growth, expected adjusted EPS growth of 6-8% annually from 2016-2018, and a capital allocation plan prioritizing debt reduction, dividends, and share repurchases.
Tricumen / Capital Markets: Regions 1Q15
This publication is supplementary to our quarterly Results Review; it shows banks’ revenue dynamics relative to their peers in each region and each product area. The full dataset includes operating revenue at the Level 3 product detail, operating expenses and pre-tax profit in 7 regions, as well as client segment revenue allocations.
All data is reconciled against the published financial statements. Further detail is available on request.
Q3 15 results presentation final unencrypted
- Markit reported financial results for Q3 2015 with total revenue of $277.3 million, up 2.8% year-over-year
- Revenue growth was driven by 5.6% constant currency growth, including 5.1% organic growth in Information and 13.1% organic growth in Solutions
- Adjusted EBITDA was $123.5 million, with an adjusted EBITDA margin of 44.9% maintained from prior year
- Adjusted earnings were $68.2 million, with adjusted diluted EPS of $0.37
- Results reflected continued investment in new products and acquisitions including DealHub and CoreOne Technologies
Visa inc. Q2 2015 financial results conference call presentation
- Visa reported fiscal second quarter 2015 financial results with solid operating revenues of $3.4 billion, up 8% over the prior year. Net income was $1.6 billion.
- Payments volume increased 8% nominally to $1.245 trillion. Total cards grew 6% to over 2.4 billion cards.
- The company repurchased $1.1 billion of stock in the quarter and provided fiscal year 2015 guidance including revenue growth of 9-11% and operating margin in the mid-60% range.
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Market Insights
- 1. STRONGER together Strategies for success 2015 Partner Conference Market Insights Ralph Acampora, CMT Altaira Wealth Management
- 2. 2015 Partner ConferenceStronger Together
- 3. 10-Year Bond Yields—Remain in a firm downtrend; making a series of lower low and lower highs; would require a close above 3.5% to reverse the secular downtrend.
- 4. 2015 Partner ConferenceStronger Together4 -5% 0% 5% 10% 15% 20% '58 '63 '68 '73 '78 '83 '88 '93 '98 '03 '08 '13 Interest Rates and Inflation Source: Federal Reserve, BLS, J.P. Morgan Asset Management. Real 10-year Treasury yields are calculated as the daily Treasury yield less year-over-year core CPI inflation for that month except for March 2015, where real yields are calculated by subtracting out February 2015 year-over-year core inflation. All returns above reflect annualized total returns, which include reinvestment of dividends. Corporate bond returns are based on a composite index of investment grade bond performance. Data are as of March 31, 2015. 30 Nominal and Real 10-year Treasury Yields Mar. 31, 2015: 0.25% Sep. 30, 1981: 15.84% Mar. 31, 2015: 1.94% Nominal 10-year Treasury Yield Real 10-year Treasury Yield Average (1958 – 2015 YTD) 3/31/15 Nominal Yields 6.24% 1.94% Real Yields 2.48% 0.25% Inflation 3.79% 1.69% Rising Rate Corp. Bonds S&P 500 1958-1981 3.0% 8.6% Ann. Inflation 5.0% 5.0% Ann. Real Return -2.0% 3.5% Falling Rate Corp. Bonds S&P 500 1982-2014 9.6% 11.7% Ann. Inflation 3.0% 3.0% Ann. Real Return 6.6% 8.6% FixedIncome Interest Rates
- 5. 2015 Partner ConferenceStronger Together U.S. Inflation (Annual CPI)
- 6. SPX Index—Remains in a secular uptrend after breaking topside a 13-year bear market.
- 7. DJIA vs DJTA—Negative divergence—Industrials trending higher while Transports have reversed an uptrend.
- 8. 2015 Partner ConferenceStronger Together U.S. Unemployment Trends
- 9. XLK—Pullback towards an uptrend support line underway; remains in a major uptrend.
- 10. XLU—Major trend has turned lower after the recent uptrend violation; next support at $40.
- 11. 2015 Partner ConferenceStronger Together What does a secular bull really look like?
- 12. 2015 Partner ConferenceStronger Together
- 13. 2015 Partner ConferenceStronger Together Thank you