Rod Smith • National Planning Corporation
- What is your investment style? by Ron Rowland
- Solid, if unspectacular, full-year 2014 GDP—even as Q4 disappoints
- What volatility derivatives can tell you about the stock market by Lawrence G. McMillan
- Promoting a partnership approach (Brian Glaze & Larry Ware, LPL Financial)
Mercer Capital's Asset Management Industry Newsletter | Q1 2015 | Focus: Mutu...Mercer Capital
Mercer Capital’s Asset Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Kauffman Foundation Report: Poor Long-Term Returns from Venture CapitalPhilipp Klöckner
A recent report by the Ewing Marion Kauffman Foundation raises serious questions about the degree to which venture capital deserves emulation.
The report, provocatively titled “We Have Met the Enemy and He is Us”, summarizes its findings thus:
Limited Partners (LPs) — foundations, endowments, and state pension funds — invest too much capital in underperforming venture capital funds on frequently misaligned terms. Our research suggests that investors like us succumb time and again to narrative fallacies, a well-studied behavioral finance bias.
Randy Kerns, CIC, ChFC • Voya Financial Advisors Inc.
- Why passive investors get hammered by Mike Posey
- Can it really be earnings season already?
- What oil's plunge and the strong Dollar may mean for 2015 by Jeanette Schwarz Young
- Active management as a practice differentiator (John McGonagle, CFP, CRPC, Asset Architects LLC)
Mercer Capital | Unlocking Private Company WealthMercer Capital
With the current up-tick in the economy and the demographic realities of baby boomer business owner transitions, estate planners have a client base that may be seeking to monetize their investment in their closely held businesses. Many business owners immediately assume that means an outright sale. However, there are other liquidity options to consider.
This session, presented at the recent 2015 Heckerling Institute on Estate Planning, covered various liquidity options including dividend policy, partial sales to insiders, employee stock ownership plans, private equity investors, as well as third party sales.
"Snake Oil, Swamp Land, and Factor-Based Investing" by Gary Antonacci, author...Quantopian
BlackRock forecasts smart beta investing oriented toward size, value, quality, momentum, and low volatility to reach $1 trillion by 2020 and $2.4 trillion by 2025. Gary’s talk will show that this growth may not be justified due to these factors' lack of robustness, consistency, persistence, intuitiveness, and investability. Gary will also show that the success attributed to these factors would be better directed toward macro momentum and the short interest ratio.
We answer all your questions regarding small-cap investing in this free downloadable ebook.
- What is small cap investing?
- What are the characteristics of small cap investing?
- How do I choose a small cap manager?
- Why invest in a managed portfolio?
- What does market timing have to do with anything?
- What investment style REALLY works for small caps?
Mercer Capital's Asset Management Industry Newsletter | Q1 2015 | Focus: Mutu...Mercer Capital
Mercer Capital’s Asset Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Kauffman Foundation Report: Poor Long-Term Returns from Venture CapitalPhilipp Klöckner
A recent report by the Ewing Marion Kauffman Foundation raises serious questions about the degree to which venture capital deserves emulation.
The report, provocatively titled “We Have Met the Enemy and He is Us”, summarizes its findings thus:
Limited Partners (LPs) — foundations, endowments, and state pension funds — invest too much capital in underperforming venture capital funds on frequently misaligned terms. Our research suggests that investors like us succumb time and again to narrative fallacies, a well-studied behavioral finance bias.
Randy Kerns, CIC, ChFC • Voya Financial Advisors Inc.
- Why passive investors get hammered by Mike Posey
- Can it really be earnings season already?
- What oil's plunge and the strong Dollar may mean for 2015 by Jeanette Schwarz Young
- Active management as a practice differentiator (John McGonagle, CFP, CRPC, Asset Architects LLC)
Mercer Capital | Unlocking Private Company WealthMercer Capital
With the current up-tick in the economy and the demographic realities of baby boomer business owner transitions, estate planners have a client base that may be seeking to monetize their investment in their closely held businesses. Many business owners immediately assume that means an outright sale. However, there are other liquidity options to consider.
This session, presented at the recent 2015 Heckerling Institute on Estate Planning, covered various liquidity options including dividend policy, partial sales to insiders, employee stock ownership plans, private equity investors, as well as third party sales.
"Snake Oil, Swamp Land, and Factor-Based Investing" by Gary Antonacci, author...Quantopian
BlackRock forecasts smart beta investing oriented toward size, value, quality, momentum, and low volatility to reach $1 trillion by 2020 and $2.4 trillion by 2025. Gary’s talk will show that this growth may not be justified due to these factors' lack of robustness, consistency, persistence, intuitiveness, and investability. Gary will also show that the success attributed to these factors would be better directed toward macro momentum and the short interest ratio.
We answer all your questions regarding small-cap investing in this free downloadable ebook.
- What is small cap investing?
- What are the characteristics of small cap investing?
- How do I choose a small cap manager?
- Why invest in a managed portfolio?
- What does market timing have to do with anything?
- What investment style REALLY works for small caps?
Netwealth portfolio construction series: Investment Moneyball - Taking advant...netwealthInvest
Discover how you can apply the Moneyball theory to potentially discover good investment opportunities at good prices by finding market anomalies to take advantage of. Paul Moore, founder and Chief Investment Officer of PM Capital, discusses.
"From Trading Strategy to Becoming an Industry Professional – How to Break in...Quantopian
You have created a great trading strategy, backtested, traded it and now you want to take it to the next level. You may find that developing the strategy was just the first of many difficult steps.
With the increased availability of low cost, high quality quant modelling platforms, the field is much more open than it once was. The interest for algorithmic trading his higher than ever and anyone has the potential develop a great trading model.
But having a great trading model is not enough. The work is not done yet.
This presentation will discuss turning your algorithmic trading strategy into a business or a great job, and becoming a professional trader. We’re going to talk about what it takes to move to the next level and where the common pitfalls lay. What kind of strategies are marketable are which are not. The pros and cons of trading your own money and how to go about finding external capital and gaining traction in the business.
Are you ready to take the step?
The State of the Venture Capital Industry is an annual report produced by TrueBridge Capital Partners highlighting the trends in venture fundraising, investing, valuations, exits, and performance.
All data sourced from Dow Jones VentureSource, Dow Jones LP Source, CB Insights, PitchBook, and Cambridge Associates.
During the last 15 years more than $800 billion dollars has been contributed to index funds. At Selective we believe there are many limitations to these products and don't truly capture the heart of investing - business ownership. To learn more go through the presentation. If you would like more content like this visit us at www.selectivewm.com or contact us at info@selectivewm.com
Eric Jackson's presentation to Yahoo outlining his plan to slash the company’s workforce by 75%, replace Marissa Mayer with an operations-focused CEO and bring in a strategic partner to help navigate the tax issues surrounding its Asian assets.
Source: http://www.wsj.com/public/resources/documents/yahoopresentation.pdf
Netwealth portfolio construction series - Building investment portfolios for ...netwealthInvest
Discover what markets could look like in the future and some of the strategies investors use in order to continue meeting their retirement goals with Josh Hall from Aberdeen Asset Management.
The Hidden Champion Fund in listed Asian equities generated positive absolute returns of +15.4% or a S$2.7m investment gain (in SGD terms as at 1 July 2016) since September 2015, outperforming Asian market indexes which decline over the same period.
Rich Ralston • WRP Investments, Inc.
- The perils of predictions by David Wismer
- Will September be the cruelest month?
- Why fee-based active management works (Jim Mardock, Transamerica Financial Advisors, Inc.)
Jay Blanchard • NEXT Financial Group, Inc.
- Tackling the herd through sentiment indicators by Linda Ferentchak
- Conflicting data adds to market uncertainty
- Social Security strategies as prospect "hot buttons" (Richard D'Ambola, Questar Capital Corporation)
Tu Bui • Transamerica Financial Advisors, Inc.
- Millennials and risk management by Katie Kuehner-Hebert
- High yield sector shows divergences
- Passionate about paying it forward (Nancy Hairsine, Foresters Equity Services, Inc.)
Steve Redelsperger • Cadaret, Grant & Co., Inc.
- Risky business: How to create a better investor behavioral profile by Kellye Whitney
- October lives up to volatility reputation
- Creating tax-advantaged financial strategies (Gary Strawn, Transamerica Financial Advisors, Inc.)
Richard D'Ambola • Questar Capital Corporation (QCC)
- When history rhymes: Identifying realistic estimates of future investment strategy performance by Dave Walton
- Buybacks slowing while CEO confidence remains high
- Outsourcing to increase productivity (Steve Miller, Transamerica Financial Advisors)
Netwealth portfolio construction series: Investment Moneyball - Taking advant...netwealthInvest
Discover how you can apply the Moneyball theory to potentially discover good investment opportunities at good prices by finding market anomalies to take advantage of. Paul Moore, founder and Chief Investment Officer of PM Capital, discusses.
"From Trading Strategy to Becoming an Industry Professional – How to Break in...Quantopian
You have created a great trading strategy, backtested, traded it and now you want to take it to the next level. You may find that developing the strategy was just the first of many difficult steps.
With the increased availability of low cost, high quality quant modelling platforms, the field is much more open than it once was. The interest for algorithmic trading his higher than ever and anyone has the potential develop a great trading model.
But having a great trading model is not enough. The work is not done yet.
This presentation will discuss turning your algorithmic trading strategy into a business or a great job, and becoming a professional trader. We’re going to talk about what it takes to move to the next level and where the common pitfalls lay. What kind of strategies are marketable are which are not. The pros and cons of trading your own money and how to go about finding external capital and gaining traction in the business.
Are you ready to take the step?
The State of the Venture Capital Industry is an annual report produced by TrueBridge Capital Partners highlighting the trends in venture fundraising, investing, valuations, exits, and performance.
All data sourced from Dow Jones VentureSource, Dow Jones LP Source, CB Insights, PitchBook, and Cambridge Associates.
During the last 15 years more than $800 billion dollars has been contributed to index funds. At Selective we believe there are many limitations to these products and don't truly capture the heart of investing - business ownership. To learn more go through the presentation. If you would like more content like this visit us at www.selectivewm.com or contact us at info@selectivewm.com
Eric Jackson's presentation to Yahoo outlining his plan to slash the company’s workforce by 75%, replace Marissa Mayer with an operations-focused CEO and bring in a strategic partner to help navigate the tax issues surrounding its Asian assets.
Source: http://www.wsj.com/public/resources/documents/yahoopresentation.pdf
Netwealth portfolio construction series - Building investment portfolios for ...netwealthInvest
Discover what markets could look like in the future and some of the strategies investors use in order to continue meeting their retirement goals with Josh Hall from Aberdeen Asset Management.
The Hidden Champion Fund in listed Asian equities generated positive absolute returns of +15.4% or a S$2.7m investment gain (in SGD terms as at 1 July 2016) since September 2015, outperforming Asian market indexes which decline over the same period.
Rich Ralston • WRP Investments, Inc.
- The perils of predictions by David Wismer
- Will September be the cruelest month?
- Why fee-based active management works (Jim Mardock, Transamerica Financial Advisors, Inc.)
Jay Blanchard • NEXT Financial Group, Inc.
- Tackling the herd through sentiment indicators by Linda Ferentchak
- Conflicting data adds to market uncertainty
- Social Security strategies as prospect "hot buttons" (Richard D'Ambola, Questar Capital Corporation)
Tu Bui • Transamerica Financial Advisors, Inc.
- Millennials and risk management by Katie Kuehner-Hebert
- High yield sector shows divergences
- Passionate about paying it forward (Nancy Hairsine, Foresters Equity Services, Inc.)
Steve Redelsperger • Cadaret, Grant & Co., Inc.
- Risky business: How to create a better investor behavioral profile by Kellye Whitney
- October lives up to volatility reputation
- Creating tax-advantaged financial strategies (Gary Strawn, Transamerica Financial Advisors, Inc.)
Richard D'Ambola • Questar Capital Corporation (QCC)
- When history rhymes: Identifying realistic estimates of future investment strategy performance by Dave Walton
- Buybacks slowing while CEO confidence remains high
- Outsourcing to increase productivity (Steve Miller, Transamerica Financial Advisors)
Chuck Bigbie • Geneos Wealth Management
- Investor confusion about passive investing: three common misconceptions about passive investing by Jerry Wagner
- Second quarter earnings in focus
- Simple is better for client reviews (Kimble Johnson, LPL Financial)
James Hamer • Global View Capital Management, LTD
- What does alpha have to do with the weather? Understanding the "seasonal performance" of actively managed strategies using market type by Dave Witkin
- Conflicting data continues to present mixed economic picture
- Active management: a good fit for cultural attitudes (Jong Oh, FSC Securities Corporation)
Steve Miller • Transamerica Financial Advisors
- Active management in plain English: An advisor's perspective by Greg Gann
- Spike in VIX briefly shatters market calm
- Making a 10-year succession plan work (John Gutfranski & Debra White Stephens, Cetera Advisor Networks LLC)
Kimble Johnson • LPL Financial
- Does your investing suffer from a lack of dimensionality? by Jerry Wagner
- Bright spots on the housing front
- Opening the 401(k) door (Daniel Namey, H. Beck, Inc.)
Rodger Sprouse • Titan Securities
- Swimming with the sharks by Linda Ferentchak
- Oil price decline has divergent impact on stock sectors
- Adapting business practices for the next generation of clients (Robert Kinnun, Madison Avenue Securities, Inc.)
Jong Oh • FSC Securities Corporation
- Market philosophy: where active management begins by Linda Ferentchak
- U.S. bull market "long-in-the-tooth" - or is it?
- Technology enhances firm and client communications (Rich Ralston, WRP Investments, Inc.)
Robert Kinnun • Madison Avenue Securities, Inc. (“MAS”)
- Growth of passive index investing increases the need for active management by Linda Ferentchak
- Technology sector tops Q3 earnings season
- Brokerage options: an "instrument-rated" approach to 401(k) plans (Mike Jones, ProEquities, Inc.)
Joe Wirbick • J.W. Cole Financial, Inc.
- Diversification and the active manager by Linda Ferentchak
- Germany 2-year bond yield falls to negative territory
- Balancing active and passive investment strategies (Gary Ziegler, Transamerica Financial Advisors, Inc.)
Katie Williams, AIF, CRPC, CRPS, CFP • LPL Financial
- Women & investing: Is this time different? Why the message of active investment management should resonate with female prospects by Greg Gann
- Dow Theory says market divergence is troubling
- Sentiment readings as a market indicator by Jeanette Schwarz Young
- The soft sell of cross-marketing (Rod Smith, National Planning Corporation)
Marlow Felton, Chris Felton • Transamerica Financial Advisors Inc.
- A Millennial’s perspective: How we really feel about money and investing by Nick Halle
- The continuous bid under the market
- The force of Supply at major tops in the U.S. equity market by Tracy L. Knudsen, CMT
- Working a structured referral process (Don Meredith, Lincoln Financial Advisors Corp.)
Bob Pearson • Transamerica Financial Advisors Inc.
- Experts need experts: 10 questions to ask third-party money managers by Kellye Whitney
- Do record margins pose market threat?
- “Rule of 240” compounding by Ron Rowland
- Hot-button topics drive seminar attendance (Matthew Gaude, FSC Securities)
Victor Gadoury, CLU, ChFC • LPL Financial
- Active investment managers at NAAIM believe their way is better by Susan Baber and David Wismer
- NASDAQ Composite poised to break all-time levels
- The trend-following play by Dave Landry
- Marketing in a multi-target sales process (Katie Williams, LPL Financial)
Ryan Finnell • Retirement Tax Advisory Group
- A "living in the moment" guide to investing by Jerry Wagner
- Sell in June and go away?
- Market “truths” subject to change by Rob Hanna
- Client appreciation: A sound investment (Jim Bowen, LPL Financial)
Managing A Hedge Fund: Marketing To Investors & Raising CapitalTyra Jeffries
Start Marketing Your Hedge Fund To Investors and Raising Capital with these tips and tricks. Begin to create a sophisticated Investor Relations program today!
A webinar presented by Santi Burridge, Managing Director of Implemented Portfolios.
Santi covers the following during his presentation:
• What can Australian advisers learn from global trends in financial advice?
• How technology and robo-advice is changing the US market
• Understanding the growth in ETFs and Managed Accounts
• What successful advisers focus on
• What do clients really value?
Russell Luce • Foresters Equity Services
- Slicing the market: An active manager's view of a complex investment world by Ron Rowland
- Recession job losses finally recovered
- Profit with business valuation (Mark Miehe, SII Investments)
Mercer Capital's Investment Management Industry Newsletter | Q4 2021 | Focus:...Mercer Capital
Mercer Capital’s Investment Management Industry newsletter is a quarterly publication providing perspective on valuation issues pertinent to asset managers, trust companies, and investment consultants.
Stepping into a role which requires business finance knowledge? Here is a short guide offering advice, tools, and expertise that you will need to equip yourself with to be successful. Check out our Diploma in Business Finance for more.
Proactive Alternatives strategies for the sophisticated HNW investor with actively managed accounts. A currency hedge works well against rising interest rate volatility.
Ahead of the marcus evans Private Wealth Management Summit 2022, read here an interview with John Van Clief on the investment opportunities in the alternatives space, and what makes companies innovative and recession-resistant.
Phylyp Wagner & Matt Quattlebaum • H. Beck
- How often should you review your investment returns? The results may surprise you by Jerry Wagner
- The most scrutinized Fed rate hike ever?
- Recent Q1 highs lacked “oomph” by Tony Dwyer
- Expanding the family business tradition (Jeff Pesta, LPL Financial)
Thinking about launching a hedge fund or looking to grow your fund's assets faster? Find out why some funds raise capital faster than others.
Note: Content is targeted to hedge funds, but the information is applicable to other types of asset managers.
Mercer Capital's Value Matters™ | Issue 4 2020Mercer Capital
Mercer Capital's Value Matters™, published 6 times per year, addresses gift & estate tax, ESOP, buy-sell agreement, and transaction advisory topics of interest to estate planners and other professional advisors to business.
Jeff Pesta • LPL Financial
- Is it time to retire your strategy, manager, fund, or ETF? by Dave Moenning
- Dollar strength has uncertain implications
- The Anchored Momentum Indicator by Ron Rowland
- Converting positive feedback into new business (Steve Molesky, Kalos Capital Inc.)
Similar to Rod Smith – Proactive Advisor Magazine – Volume 5 Issue 5 (20)
Matthew Gaude • FSC Securities
- Gaining the peer-to-peer advantage: The 2015 NAAIM annual conference highlighted the importance of collaboration by Linda Ferentchak
- Debate over valuations heats up
- Fundamentalists vs. technical analysts by Martha Stokes, CMT
- Marketing the unrealized potential of 403(b) plans (Ryan Finnell, Retirement Tax Advisory Group)
Damon Ridley • FSC Securities Corp.
- The efficient frontier fails the test of time by Linda Ferentchak
- Wage growth mixed amid “just right” employment report
- Market high? Pie in the sky by Ian Naismith
- Maintaining a high-profile practice (Marlow Felton, Chris Felton, Transamerica Financial Advisors Inc.)
Don Meredith • Lincoln Financial Advisors Corp.
- The Millennial obsession by David Wismer
- Global decline in oil prices leads to “Fracklog”
- VIX ETFs not right for investors by Tom McClellan
- A generational shift in target marketing (Bryce Winkel, Transamerica Financial Advisors Inc.)
Chris Gurnee • Foresters Equity Services Inc.
- 85,000 on the Dow: Pipedream or realistic possibility? Book review by David Wismer
- European stocks continue on torrid pace
- Risk on, until it isn’t by Jeanette Schwarz Young
- Managing 403(b) referrals in a tight-knit academic setting (Johnathon Davis, Retirement Tax Advisory Group)
Johnathon Davis • Retirement Tax Advisory Group Inc.
- Profiling ultra-high-net-worth clients by Katie Kuehner-Hebert
- Will weak jobs numbers delay Fed rate hike?
- Why you have way too much invested in U.S. stocks by Meb Faber
- Building a “niche” into a practice focus (Phylyp Wagner, Matt Quattlebaum, H. Beck)
Brian Glaze & Larry Ware, CRPC, CLTC – Proactive Advisor Magazine – Volume 5 ...Proactive Advisor Magazine
Brian Glaze & Larry Ware • LPL Financial
- Why hasn’t the Efficient Market Hypothesis disappeared? by Linda Ferentchak
- Climbing U.S. dollar makes exports less competitive
- The seasons of the stock market by Paul Desmond
- Selling proposition: "Plan-based investing" (Jerry Ganz, Packerland Brokerage Services)
Jerry Ganz • Packerland Brokerage Services
- Can lower returns lead to more money in retirement? The impact of sequencing and volatility on portfolio value by David Witkin
- Jump in Swiss franc triggers short-term losses and long-term uncertainty
- Crude oil’s message for the stock market by Tom McClellan
- Growing a referral network (Trish Beine, The Strategic Financial Alliance)
Trish Beine • The Strategic Financial Alliance
- Dissing the investor by Linda Ferentchak
- Ratio of gold to oil hits levels of the 1990s
- What will the next bear market look like: Grizzly or Teddy? by Marshall Schield
- Frequency of client touches leads to referrals (Randy Kerns, Voya Financial Advisors, Inc.)
John McGonagle • EPI Advisors, LLC
- Understanding the relevance of risk-adjusted returns by Dave Walton
- Strongest jobs gain since 2012 surprises markets
- Building stronger visibility for an advisory firm (Rodger Sprouse, Titan Securities)
Mike Jones • ProEquities, Inc.
- Bucket investing with risk-managed portfolios by David Varadi, Jerry Wagner, J.D., George Yang, Ph.D. & CFA
- Employment increases set new record
- Referrals fueled by process management (James Franke • Harbour Investments, Inc.)
Nancy Hairsine • Foresters Equity Services, Inc.
- How do you anticipate the unexpected? by Jerry Wagner
- Record-setting Fed funds rate policy continues
- Building 360-degree relationships with clients and prospects (James Hamer, Global View Capital Management)
John Gutfranski, CFP, AIF, CRPC & Debra White Stephens, CFP – Proactive Advis...Proactive Advisor Magazine
John Gutfranski & Debra White Stephens • Cetera Advisor Networks LLC
- Is modern portfolio theory seriously flawed? by Linda Ferentchak
- Budget deficit on track for six-year low
- Three approaches to client acquisition (Chuck Bigbie, Geneos Wealth Management)
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
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Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
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Rod Smith – Proactive Advisor Magazine – Volume 5 Issue 5
1. Rod Smith
An active
manager’s
sweet spot
February 5, 2015 | Volume 5 | Issue 5
Active investment management’s weekly magazine
Q4 disappoints, but 2014 GDP solid
What is your
investment
style?
Promoting a partnership approach
Lawrence McMillan: What you need
to know about volatility derivatives
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3. Advisor perspectives on active investment management
- A custodian that makes your life as an RIA simpler.
Helping clients help
themselves
Clients can be their own worst enemies—their
guts and brains are constantly at war.Individuals do
not receive real training in financial or investment
matters, and most people fail miserably on their
own, which is why active management by a
professional makes so much sense.
LOUD & CLEAR
Jamie Lapin • Rockville, MD
Risk Management Group LLC • H. Beck Inc.
3February 5, 2015 | proactiveadvisormagazine.com
LOUD & CLEAR
4. What is your
investment style?
Today’s universe of investment
products provides active managers
with a vast palette of tools for
strategic diversification.
By Ron Rowland
4
5. hat is your investment style?
I’m old enough to remember a
time when an investment
manager’s response to this
question was quite different
than what is typical today. Perhaps you are too.
There was a time when such a query would
invoke responses like deep value, aggressive
growth, earnings momentum, dividend
growth, growth at a reasonable price, or other
descriptive term. Additionally, various styles
and investment approaches might include
focusing on highly leveraged companies,
turnaround plays, takeover targets, spin-offs, or
other special situations.
You might be thinking these investment
styles never went away and are still with us
today. You would be correct. However, whereas
these might have been among the most likely
descriptions twenty-five years ago, something
happened in the interim to lower the probabil-
ity of receiving such a response.
A little bit of history
The “thing” was the arrival of the
Morningstar Style Box™. Although it may seem
like it has been around forever, the Morningstar
Style Box™ wasn’t introduced until 1992.
The nine-square matrix was, and still is, an
excellent visual tool. It divides the domestic
equity universe into three capitalization strat-
ifications (large, medium, and small), which
form the horizontal rows of the matrix. Next,
Morningstar separates the stocks within each
capitalization segment into three groups based
on various growth and value characteristics.
Stocks with a predominance of value character-
istics are placed on the left, growth stocks on
the right, and those with a blend of value and
growth characteristics occupy the middle.
The simplest solution is often the best, and
the Morningstar Style Box™ is genius in that
respect. It is both easy to understand and visual.
The upper left hand box of the three-by-three
matrix represents Large-Cap Value stocks,
the lower right hand corner is for Small-Cap
Growth, and the rest is intuitive. With this
classification methodology, the stock holdings
of mutual funds and investment portfolios
are systematically measured, aggregated, and
then placed inside one of the nine boxes.
Morningstar has evolved the tool over the years
and has a similar-looking framework for fixed
income funds.
label it as “Mid-Cap Value” though it doesn’t
hold any Mid Cap stocks.
A twist of fate
Problems arose as the tool evolved from
being a means of measurement into being the
actual investment criteria. For example, an
earnings momentum manager may be in the
Small-Cap Growth box during one phase of an
economic cycle and in Mid-Cap Value during
another phase. While sticking to his style,
the tool would say this manager was drifting.
Eventually, many large institutional investors
began hiring managers based on their ability
to outperform their peers while staying inside
their box. No longer did they want to hire an
earnings momentum specialist or a turnaround
analyst. Instead, they sought out Mid-Cap
Growth and Small-Cap Value managers. Many
of these new style box managers were said to
have a “mandate” for the particular box they
were in, and some were subsequently fired for
straying too far outside their assigned box.
continue on pg. 11
W
Fund investment style
Value Blend Growth
Large
Mid
Small
Source: The Morningstar Style Box™, morningstar.com
The Morningstar Style
Box™
became the primary
method of determining
and classifying
investment styles.
The tool became so popular that it quickly
developed into the primary method of de-
termining and classifying investment styles.
Managers formerly known as deep value inves-
tors landed on the left side of the matrix, as you
would expect. However, they were further split
into large, medium, or small categories based
on the average market capitalization of their
holdings. This may seem quite logical at first
glance, but consider a manager whose meth-
odology typically selects small company stocks,
yet a couple of Large Cap stocks suddenly meet
his selection criteria. Since the market capital-
ization of these big stocks is dramatically larger
than the Small Cap holdings, a classification
methodology based on “average” size could
February 5, 2015 | proactiveadvisormagazine.com 5
6.
7. 10.0%
-10.0%
8.0%
-8.0%
6.0%
-6.0%
4.0%
2.0%
0.0%
-2.0%
-4.0%
Quarterlychangeannualized
5.0%
-5.0%
4.0%
-4.0%
3.0%
-3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
%changeyearago
Quarterly Yearly
Q4:04
Q4:05
Q2:05
Q4:06
Q2:06
Q4:07
Q2:07
Q4:08
Q2:08
Q4:09
Q2:09
Q4:10
Q2:10
Q4:11
Q2:11
Q4:12
Q2:12
Q4:13
Q2:13
Q4:14
Q2:14
Q4:11
Q2:11
Q4:12
Q2:12
Solid, if unspectacular, full-year 2014 GDP—
even as Q4 disappoints
eal gross domestic product
(GDP)—the value of the
production of goods and services in
the United States, adjusted for price
changes—increased at an annual
rate of 2.6% in the fourth quarter of 2014,
according to the “advance” estimate released by
the Bureau of Economic Analysis.
The 2.6% growth rate for the quarter
disappointed versus the average analyst
expectation for 3.2%, and showed especially
“soft” price increases (the GDP “deflator”),
which stayed flat, versus estimates for a 1.0%
increase. However, real personal consumption
spending rose at an annual rate of 4.3% in Q4,
accelerating from the 3.2% reading for Q3,
according to official data.
For Q3 2104, real GDP was sharply revised
higher to 5.0% versus the prior year, the
strongest annualized quarterly growth rate since
2003. This contributed to a first estimate for
full-year 2014 GDP at 2.4%, compared with
an increase of 2.2% in 2013. The nation’s GDP
has now increased in 21 of the past 22 quarters.
The BEA said the increase in real GDP for
full-year 2014 reflected positive contributions
from personal consumption expenditures
(PCE), nonresidential fixed investment,
exports, private inventory investment, state and
local government spending, and residential fixed
investment—all factors that were offset by a
negative contribution from federal government
R
Source: Barron’s, Econoday, and Haver Analytics
spending. Imports, which are a subtraction in
the calculation of GDP, increased.
Economists say the pattern of strong
consumer spending and weak business spending
should persist in the first part of the year,
partially a result of the sharp drop in oil prices.
According to MarketWatch, analysts held very
divergent views of the Q4 numbers and their
implications going forward.
“This slowdown is nothing to worry about,”
said Paul Ashworth, chief U.S. economist
at Capital Economics. On the other side,
Chris Williamson, chief economist at Markit,
remarked, “The economy is showing more signs
of lopsided growth, being too reliant on the
consumer (versus business spending)” and “may
delay a Fed rate hike until late 2015 or 2016.”
Other analysts pointed to the headwinds of the
stronger dollar potentially weakening the U.S.
trade sector in coming quarters.
REAL GDP GROWTH
7February 5, 2015 | proactiveadvisormagazine.com
TOPPING THE CHARTS
8. an active manager’s
SWEET SPOT
Rod Smith
By DavidWismer
Photography by
Saul Bromberger and Sandra Hoover
8 proactiveadvisormagazine.com | February 5, 2015
9. Rod Smith
Bank of Stockton
Stockton, CA
Broker-dealer
National Planning Corporation
Estimated AUM
$26M
Licenses
6, 7, 63, 65
Proactive Advisor Magazine: Rod, what
is the nature of your advisory practice?
I work in a somewhat different model than
most independent advisors. I am employed as
an Investment Representative by the Bank of
Stockton and provide investment services to
banking clients. However, I also have my own
independent roster of clients who are not neces-
sarily clients of the bank. For both components
of the business, my broker-dealer is National
Planning Corporation, which has contracted
with the bank. I am very happy with this struc-
ture as it gives me the best of both worlds in
many ways.
What differentiates your approach
with clients?
First, we do not distinguish between high-
net-worth clients and those who may not have
a lot of investable assets. If a person has a need
that we feel we can address and make a dif-
ference, then it is my obligation to serve them
well, no matter what their net worth is.
Second, we focus on educating clients so
that they have a
good understand-
ing of what tools
we are employing
in their portfolio
and why. So many
people have sat
across from an
advisor that talked
over their head and they left feeling frustrated
or, worse yet, did nothing because they didn’t
understand what was being presented. It is my
top priority to speak my clients’ language and
for them to leave feeling like they have a better
grasp of what they are doing and why.
I also have a strong personal belief in active
investment management for clients, when that
is the appropriate investment approach. Many
advisors, like me, were trained in the philoso-
phy of buy-and-hold; a strategy that obviously
works well in the good times, but doesn’t do
much to protect assets in the bad times. My
practice and belief system have evolved over
time as I look for risk-adjusted returns that
match my clients’ objectives. I believe that any
advisor worth their salt should be looking for
ways to not only play good offense, but also
ways to play good defense. Any consistent,
winning sports team employs both good of-
fense and defense and that is at the heart of
tactical active management.
How do you put that philosophy
into practice?
Taking the emotion out of the equation is
extremely important. We are all emotionally
attached to our money—we have angst and fear
when the markets are down and we are experi-
encing loss. Conversely, we are excited and cele-
brating when economies and markets are treat-
ing us well. Left on their own, most investors
will want to chase returns and make decisions
about their money based on the basic emotions
of fear and greed.
Neither of those
emotions is neces-
sarily bad, they just
shouldn’t be what
drive our invest-
ment decisions.
We take the
emotion out by
thorough discovery of the client’s needs and
objectives as well as their risk tolerance. We
then look at strategies that match that dis-
covery and when active management fits the
need, we employ third-party asset managers
that constantly monitor the markets and make
investment decisions: whether to be long, short,
in cash, etc. based on quantitative analysis and
not emotion.
We remove the “I think we should …” from
the scenario and rely on the methodology of the
strategy. When that message is conveyed clearly
to clients, the light bulbs come on and they get
excited knowing that a strategy is in place to
make adjustments, no matter what the market
cycle. I make sure that they understand that
there are things that we cannot control—and
one of those is the market. They also have to
know that there is no perfect science out there;
there will be times when we are on the wrong
side of the fence and we will experience loss.
Our objective is to minimize the downside so
that we don’t have to work so hard just to get
back to even.
continue on pg. 10
With active investment strategies
to suit investors of all types,
it’s all about finding the right fit.
We remove the “I think we
should ... ” from the scenario
and rely on the methodology
of the strategy.
February 5, 2015 | proactiveadvisormagazine.com 9
10. No investment strategy will guarantee a profit or protect against a loss.The S&P 500 is an unmanaged stock index. Investors cannot invest in the S&P 500 index. Past performance is not a guarantee of future results.
Securities and Advisory services offered through National Planning Corporation (NPC), Member FINRA/SIPC and a Registered Investment Adviser. Bank of Stockton Investment and Insurance Services are separate and unrelated to NPC.
SECURITIES ARE NOT INSURED BY THE FDIC OR ANY OTHER FEDERAL GOVERNMENT AGENCY, HAVE NO FINANCIAL INSTITUTION GUARANTEE,AND MAY LOSE VALUE.
I highly doubt that high-net-worth individ-
uals just sat there watching their portfolio value
decline by 20, 30 or 40% as the markets fell
in 2008 while their advisor told them to just
“hold on, it will be ok.” No, they expect action
and they expect their advisor to look for solid
returns in the good times and preserve their
capital in the bad times.
And today, with tactically managed strate-
gies through third-party asset managers, that is
what we strive to do with clients of all types.
Even relatively low asset levels can now be ac-
commodated by our money managers for active
portfolio strategies. Money management can be
coupled with income planning for retirement,
college savings for children, life insurance needs,
and 401(k) plans for employers to allow us to
utilize a diverse mix of products and services to
meet our clients’ needs.
How do you think about managing risk
and what is the role of third-party
managers in that context?
There are certain things that I am looking
for in a portfolio strategy depending on a client’s
specific needs. We have a lot of manager options
on our platform to choose from for each client. I
look at each manager’s historical record, with an
emphasis on what their real risk-adjusted returns
are over time and how their specific methodolo-
gy has played out. That helps me determine what
type of strategy is going to fit for a client.
For example, if I am considering a strategy
that is fundamentally lining up against the S&P
500, I look at how much risk they’ve taken in
comparison: what’s the beta versus the S&P 500,
what’s their return, and did they take more risk
or less? If they took more, was it worth it? Did
they see higher returns? Conversely, a strategic
portfolio approach may consistently demon-
strate lower beta to the S&P 500 and fulfill our
goals over time. That is really the sweet spot
for an active manager and what I am ideally
looking to present to my clients.
What role does active management play
within the overall mix of services you offer
to clients?
For years high-net-worth individuals have
had access to investment strategies that were
not available to the general population. But
now, through technology, those barriers to
entry have been reduced. Access to these invest-
ments and strategies, through third-party asset
managers, has opened the door for the average
hard-working individual to plan for their future
much like the high-net-worth do.
continued from pg. 9
Rod Smith
10 proactiveadvisormagazine.com | February 5, 2015
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Exchange-Traded Funds (ETFs) have revolutionized much of
the investment landscape, and industry growth has been rapid.
There were fewer than 200 ETFs available to U.S. investors a decade
ago, and today there are more than 1,650 listed for trading. Not
surprisingly, many of the first 1,000 products targeted one of the
nine style boxes or well-known indexes. This area of the investment
landscape quickly became saturated with products, forcing ETF
sponsors to look for new ways to distinguish their new funds.
What’s old is new again
“Factor investing” is an idea that has recently become popular
with ETF sponsors, and although it may seem like something
new, it is very much akin to “style” investing before the age of the
Morningstar Style Box™. Today, there are ETFs available that focus
their selection criteria on specific factors, and they sound very much
like the lost investment styles of yore. Factors targeted by new gen-
eration ETFs include volatility, current yield, dividend growth, beta,
revenue, price momentum, and company size.
In addition, there are many special situations that can be iden-
tified, quantified, and used in selecting securities. Special situations
targeted by ETFs include spin-offs, buybacks, splits, mergers, and
IPOs.
continued from pg. 5
continue on pg. 13
Investment style
The one best predictor
of advisor success
A practice management expert surveyed nearly
700 successful financial advisors, looking at what
it was that made them successful.
What happened to the secular
bear market in equities?
History shows U.S. equity prices have consistently
alternated between secular bull and bear trends of
15-20 years—where are we now?
Finding the right money
managers for your practice
It is critical to assess the patterns of risk and
return expected from a fund manager through
different market conditions.
L NKS WEEK
February 5, 2015 | proactiveadvisormagazine.com 11
12. What volatility derivatives can tell you
about the stock market
Professional trader Lawrence G. McMillan is perhaps best known as the author of “Options As a Strategic Investment,” the best-selling work on stock and index options
strategies, which has sold over 350,000 copies. An active trader of his own account, he also manages option-oriented accounts for clients. As President of McMillan
Analysis Corporation, he edits and does research for the firm’s newsletter publications. www.optionstrategist.com
he number of volatility derivatives
has grown dramatically since the first
volatility futures were listed on CBOE’s
Volatility Index ($VIX) in 2004.
Anyone interested in market trends
should pay attention to the pricing structures and
patterns of these derivatives.
Here are a few simple things to watch. The
first is the pattern of $VIX itself. A very reliable
indicator is the $VIX spike peak market buy
signal. The rules for a $VIX spike peak buy signal
are not complicated:
1. $VIX must be “spiking.” $VIX is considered
to be “spiking” if it has risen by at least 3.00
points over a 3-day period, measured using
closing prices. Once $VIX is spiking, it
remains in “spiking” mode until a buy signal
occurs, regardless of whether or not $VIX
keeps rising as fast. Keep track of the highest
intraday price that $VIX reaches while in
“spiking” mode.
2. Once $VIX is “spiking,” a buy signal will
occur when $VIX closes at least 3.00 points
below the highest intraday price that $VIX
attained while it was “spiking.”
3. The buy signal remains in force for a month
or until $VIX closes above that previous
intradaypeak(thisisthe“stop”forthesystem).
Figure 1 shows the $VIX spike peak buy
signals over the past year. Those marked in red
were successful, while those shown in blue were
not. In each successful case, the S&P 500 Index
($SPX) rose substantially, even if not for the entire
approximate month-long period.
Astute observers will note that, at the far right
of Figure 1, $VIX is again spiking (1/29), so a new
buy signal may be generated shortly.
T
Assessing the volatility term structure
Another simple approach can provide
insight as to what volatility traders feel about
forthcoming market volatility, or about the trend
of the broad stock market. In order to glean this
information, one can observe the relationships
of the four CBOE Volatility Indices:
$VXST: the Short-Term Volatility Index
(measures a 9-day volatility);
$VIX: measures a 30-day volatility;
$VXV: measures a 90-day volatility;
$VXMT: the Mid-Term Volatility
Index (measures a 6-month volatility)
In a benign, rising market they will line up
from low to high (i.e., they will display a positive
slope): $VXST < $VIX < $VXV < $VXMT.
However, when things begin to get dicey, the
relationship of these indices can prove useful.
A. If $VXST crosses above $VIX, expect the
market to be (much) more volatile over
the ensuing three weeks, even if $VXST
doesn’t necessarily remain above $VIX
for the entire three weeks. But if $VXST
repeatedly remains above $VIX, expect
the market to constantly exhibit high
volatility.
B. $VIX crossing above $VXV is a major
warning sign, and the market is expected
to drop. This bearish signal remains in
effect until $VIX once again crosses below
$VXV—and that crossover issues a buy
signal for the short term.
C. Finally, if the entire term structure inverts,
to the point where $VXST > $VIX >
$VXV > $VXMT, then a true bear market
environment exists, and one should act
accordinglyuntilthetermstructureflattens
and eventually returns to a positive slope.
With these rules and observations, one is able
to gain an insight as to what volatility has in store
for the broad stock market.
Proactive Advisor Magazine presents weekly commentary provided by well-known market analysts, financial authors, investment newsletter publishers, and economists. The opinions expressed
each week represent their personal perspectives and not necessarily those of the magazine.
12 proactiveadvisormagazine.com | February 5, 2015
HOW I SEE IT
13. There can be no assurance that any investment product will achieve its investment objective(s). There are risks associated with investing, including the entire loss of principal invested. Investing involves market
risk. The investment return and principal value of any investment product will fluctuate with changes in market conditions. Guggenheim Investments represents the investment management businesses of Gug-
genheim Partners, LLC. Securities offered through Guggenheim Funds Distributors, LLC. Guggenheim Funds Distributors, LLC is affiliated with Guggenheim Partners, LLC. x0515 #12526
Uncover the True Cost of Trading Mutual Funds
and ETFs
The reflexive perception that ETFs cost less, simply based on their low expense
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addition to an expense ratio, there are additional considerations that should
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continued from pg. 11
Tools for active management
Whether you prefer to use the 1980s
definition of investment style, the Morningstar
Style Box™, or today’s factor and special situa-
tion definitions, one thing remains constant—
each goes through periods of being in favor,
followed by periods of being out of favor.
Each specific style (whether executed via
ETFs or mutual funds) can potentially be
thought of as a valid stand-alone investment
approach, but today’s sophisticated active man-
agers prefer to think of them as tools. An active
manager may believe there are times to own
some of these style-based products and times to
avoid them as determined by a non-emotional,
quantitative-based approach. Multiple diverse
strategies, each with many “tools” available,
are critical to the process of active and strategic
portfolio diversification. The orientation of
considering the universe of ETFs and mutual
funds to be tools—instead of end products—
provides active managers with the potential to
respond to current market conditions and to
Investment style
Ron Rowland is the founder and executive editor of All Star Investor, an online investment advisory service. He is also Chief Investment Officer of Capital Cities Asset Management. Mr. Rowland is highly experienced in money management
and is an industry expert on sector rotation and ETFs.
ETFs and mutual
funds are recognized
by active managers as
tools—not strategies
in and of themselves.
Dynamic
Strategic
Diversification
Tools Models
Strategies
better meet the needs of advisors in portfolio
construction and implementation.
13February 5, 2015 | proactiveadvisormagazine.com