Michael Fosnaugh

The chart below was featured in our new piece, "Excessive Extrapolation & Stock Based Compensation" ↓ https://loom.ly/no5HtNY It illustrates the stark contrast in stock-based compensation issuance between the top 20% and bottom 20% of #stocks over the last decade. The best-performing stocks issued a staggering $703 billion, while the worst-performing issued just $134 billion. This flood of stock grants from top stocks creates a dangerous situation, as their success makes it even harder for employees to diversify. Given that employees often view these grants as financial advice or endorsements, FAs are now struggling to convince clients to implement basic #diversification and risk management strategies. Click the link below to subscribe to our newsletter ↓ https://loom.ly/loanBbc

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The chart below was featured in our new piece, "Excessive Extrapolation & Stock Based Compensation" ↓ https://loom.ly/no5HtNY It illustrates the stark contrast in stock-based compensation issuance between the top 20% and bottom 20% of #stocks over the last decade. As you can see, the top performers issued $703 billion in stock, while the worst performers issued just $134 billion. Based on historical research conducted by the great Shlomo Benartzi, the stock of companies with the best trailing 10-year returns severely underperformed the stocks with the worst trailing 10-year returns. We believe that concentrated stock-based compensation is a major risk factor that prudent #investors should avoid. Click the link below to subscribe to our newsletter ↓ https://loom.ly/loanBbc

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Seaport’s Jeff Cantwell, CFA is hosting an exclusive Expert Event on Processors for Financial Institutions: Recent Trends and the Competitive Landscape on Friday, September 20th. Topics of discussion will include: key players- processors (Fintechs) serving financial institutions in the US, software, financial services, strategy, recent trends, competitive landscape- and which Fintechs are up-and-coming? Other topics include market share, pricing, core, digital banking, payments, bill pay, credit and debit, real-time, Zelle, FedNow, open banking, regulation, and growth opportunities. Interested? Say hello! [email protected]   #SeaportResearchPartners #Growth #Expert #Change #SRP #Seaport #SeaportGlobal #CorporateAccess #ResearchPlatform #ResearchPartner #EquityResearch

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Surprise❗ The economy stuck the rare soft landing. But now risks are building. Check out 3 strategies to position portfolios for the changing economy in our 2024 Midyear #ETF #MarketOutlook: http://ms.spr.ly/6047YmuoN

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With prospects for a soft landing, we maintain a slight bias toward risk in fixed income portfolios but remain selective across industries and issuers. Learn where we’re seeing opportunities: https://lnkd.in/eMbar-bN #bonds #leveragedloans #CLOs #investing

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Join us at this year’s Fixed Income Leaders Summit as we discuss various up-to-date industry themes, such as how to best assess the latest in emerging markets liquidity, electronification and opportunities in 2024. We will be addressing critical questions, including: ✅ What are the high-growth countries and regions and how can you pinpoint opportunities for your portfolio?    ✅ How has the reopening of China played into emerging market drivers?   ✅ Are we close to the end of the tightening cycle across EM markets and what does this mean for alpha generating opportunities?   ✅ How will the further development of all-to-all trading choices for these markets accelerate investment opportunities?   Check out our panelists:   Chris Magnus | MetLife Investment Management Sarah Leshner Carvalho | Capital Group Dan Green, CFA | AllianceBernstein  Ludvig Soderling | Caisse de dépôt et placement du Québec (CDPQ) Moderator: Marie Vrakking | Independent Expert Register here: https://lnkd.in/e7QfjErA Thanks to our lead sponsor: FMX Futures Exchange Along with our current principal sponsors: Bank of America, Citadel Securities, ICE , J.P. Morgan, Jane Street, LTX, A Broadridge Company, MarketAxess, Morgan Stanley, S&P Global, LSEG (London Stock Exchange Group) and Tradeweb #FILS #FixedIncome #Trading #BuySide #Innovation

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Simeon Siegel, CFA joins CNBC stressing that despite an overwhelmingly negative perception of the consumer landscape, the reality is that there are companies selling the same thing, to the same people, with completely different results. Unlike during COVID, we are seeing a return to the divergence between winners and losers. “The largest companies, LVMH, Nike, they are the ones seeing pressure. So we read ‘Oh everyone is seeing pressure and no one is spending anymore.’ But there are companies that are winning and there are companies that are losing. During COVID there was no reason to be a winner or a loser. There was stimulus or there wasn’t. But that’s not how companies work. Companies are supposed to steal customers from one another. That’s what market share means. And that’s what we’re seeing now. Every company that is lagging needs to look at the winners in their category and say ‘what are we not doing?’ When everyone is doing great, it’s easy to let management have the pass.” Watch the full segment here: http://spr.ly/6041lU97B?

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Navigating Market Volatility with Confidence 📉 "History provides a crucial insight regarding market crises: they are inevitable, painful, and ultimately surmountable." - Shelby MC Davis, Investor. Market volatility can be unsettling, but it's a natural part of the investing landscape. Our latest guide offers strategies to help you stay calm and make informed decisions during turbulent times. Learn how to see beyond the immediate challenges and focus on long-term investment goals. 📘 Discover valuable insights on managing market fluctuations effectively: - Understanding the historical context of market crises - Practical tips for maintaining composure during downturns - Strategies for long-term success despite volatility 👉 Don't let market volatility disrupt your investment journey. Download our free guide today. #MarketVolatility #InvestmentStrategies #FinancialResilience

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Join Brian Scott and Dan King for a LIVE webinar on Friday, June 14th at 12pm MST! We’re excited to have Michael Arone, CFA, and Chief Investment Strategist for the SPDR® Americas Business at State Street Global Advisors. Michael is a highly regarded speaker at industry conferences and is the author of several articles related to investment management practices. Register here: https://hubs.la/Q02zh-rL0 #ElevantInsights #Webinar #ElevantWealth #FinancialFreedom #MarketUpdate #FinancialPlanning #TwinFalls

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In previous EPFR Quants Corners, we explored how to navigate pre-election uncertainty utilizing fund flows and allocations data by defining flows into ETFs as “anomalous” or deviating from the norm. Here’s an update using our Daily Fund Flows instead to capture uncertainty surrounding Trump’s verdict in the final week of May: Counting the number of trump-sensitive ETFs over the past two months, anomalies spiked in April then again on the 29th and 30th of May – one day prior to Donald Trump’s conviction on 34 felony counts – illustrating that anticipation morphed into expectations of the results we received. Note that on the Friday prior, May 23rd, anomalies were the highest since that April anticipation. Contact us to learn more about our Daily Fund Flow data >> https://hubs.li/Q02BnpqL0 See the comments for EPFR content on elections, trump-sensitive ETFs, anomalous flows, and more.

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Recent #inflation data suggests persistent challenges in achieving the Fed's 2% target, affecting policy and market expectations. How will this affect your wallet and #investments? Evgeniy Yashin, CFA® is keeping a close eye on the shifts. Check out his latest #MarketOutlook commentary! https://lnkd.in/gNE4fRiR

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The SEC amended Reg NMS to reduce minimum pricing increments (or “ticks”) for certain stocks to half-penny increments, lower exchange access fee caps, and accelerate implementation of pending rules on order price transparency. Read more: https://lnkd.in/e5qQmdaY #FinancialInstitutions

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This article summarizes market practices, examining how cash and equity compensation is treated under different termination scenarios, including the typical cash severance practices and equity termination treatment for CEOs within the S&P / TSX 60 index companies.    Read more in our blog linked below https://lnkd.in/erzgWaQn

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💡 Understanding Market Valuation: The Shiller CAPE ratio offers a unique perspective on the S&P 500's current valuation. Take a look at these metrics! Knowledge is power in navigating the complexities of the financial world. 🌐 #MarketValuation #InvestmentInsights #ShillerCAPE

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On the contrary: Dan Kreuter of the Gladstone Group Inc. provides a contrarian view on multiples paid for RIAs, arguing that current multiples are not inflated, but justified. READ MORE: https://lnkd.in/gZikgCyc #WealthSolutionsReport #FinancialAdvisors #M&A #WealthManagement

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Simeon Siegel, CFA joins CNBC to distinguish the critical difference between market movements and fundamental business performance and the impacts from both over the short versus long term. “There’s uniformity of fear, uniformity of narrative, maybe even uniformity of stock performance. But there is not uniformity of actual company performance. We are in an environment where execution matters and we are seeing distinction in companies. That’s what you want to see if you are a really good operator or a really good stock picker. In an environment where there is belt tightening, you will see trade down. But there will be winners at the high end as well as the low end. You need to be a good operator. And that’s a good thing.” http://spr.ly/6043chSwh

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