Brendan White, CFP®, CAIA

Wealth Advisory & Tax Strategies for Business Owners | Posts ≠ Financial Advice

[Excess Returns @excessreturnpod]

The One Lesson: Our Favorite All-Time Answers

“Matt Levine, who’s such a great writer on Bloomberg’s Money Stuff, said that financial literacy should be boiled down to one question that people should understand. That question, he wrote, is: ‘If somebody comes to you and offers you an investment that has a 20% return with virtually no risk, what should you do?’”

“A) Jump on it, because it’s going to be gone in a minute if somebody else is going to do it. B) Research it, and if it is as presented, do it. Or C) Assume the guy is either lying or doesn’t understand the situation, save yourself the time, and walk away.”

Victor Haghani on why the answer to that question encapsulates the one lesson he would teach the average investor.

[Brendan White, CFP®, CAIA @bmw1010_]

@AlexCasWealth @TaxAlphaInsider Would you mind sharing this with me, too? Thanks

[Brendan White, CFP®, CAIA @bmw1010_]

@orrdavid @verdadcap wrote about analogous market moments using the Euclidean distance measure. This was written in July 2024.
https://t.co/LL4YNSwLcj

[Adam Butler @GestaltU]

Like academic financial research and Return Stacked® portfolios?

We summarized about 40 academic papers on managed futures trend, carry, merger arbitrage, systematic macro, portable alpha, portfolio construction, capital efficiency.

Link 👇

[Brendan White, CFP®, CAIA @bmw1010_]

@markcecchini This is awesome. Do you keep a running tab like this for all clients?

[Brendan White, CFP®, CAIA @bmw1010_]

@conorsen From Distillate Capital

[Brendan White, CFP®, CAIA @bmw1010_]

@RubinJMiller Do you follow any of the life cycle finance literature? This sounds a lot like 'planning under uncertainty,' which I (correctly or incorrectly) attribute to Zvi Bodie.

[Brendan White, CFP®, CAIA @bmw1010_]

@markcecchini To my knowledge, there's one FP software out there that can start to paint this picture. It uses the NPV of future income/expenses. Haven't dug too deeply, but it would seem powerful to say, "Hey, you're carrying a PV of X dollars in experiences; that's awesome!"

[Brendan White, CFP®, CAIA @bmw1010_]

@TrendingValue Agreed that "the only thing that matters is real returns." But, I find that real returns are talked about in theory and not in practice. Also, after-tax returns are rarely covered...

[Brendan White, CFP®, CAIA @bmw1010_]

@MountEverestLLC @choffstein A good read: https://t.co/y49K0ISADd

“Katy focused on identifying the key characteristics of strategies that help them be successful during stress. These characteristics included liquidity, being opportunistic, and not having a specific bias.”

[Brendan White, CFP®, CAIA @bmw1010_]

@T_Gatzemeier This is the most outrageous thing I’ll see today.

[Brendan White, CFP®, CAIA @bmw1010_]

@TopTradersLive @andrewdbeer1 Opportunistic macro

[Brendan White, CFP®, CAIA @bmw1010_]

@imericrife @BrianReiss7 I think Income Lab does a pretty good job at cash flow modeling. Though it's best used for nearing, at, or in retirement.

[Brendan White, CFP®, CAIA @bmw1010_]

@seattle_tax Thank you for both of these lists! The positives and negatives are going to be taken back to the team.

[Brendan White, CFP®, CAIA @bmw1010_]

@AndrewElgin22 Video or it didn’t happen

[Brendan White, CFP®, CAIA @bmw1010_]

@michaelbatnick Good points. This research article from @DavidRozado comes to mind: https://t.co/lUQ6aIFe8n

[Corey Hoffstein 🏴‍☠️ @choffstein]

My company, Newfound Research, turned 15 today.

Coming up on this anniversary, I reflected quite a bit on my career.  I’m not sure why, but this milestone feels larger than I would've expected.

So I decided to write something.

15 Ideas, Frameworks, and Lessons from 15 Years

[SurgiFi @FiSurgi]

Pirates of Finance is one of the best podcasts out there

You’re missing out

[Brendan White, CFP®, CAIA @bmw1010_]

@MeasureTwiceMNY Sample

[Brendan White, CFP®, CAIA @bmw1010_]

@TKopelman What is your ratio of prewritten and scheduled tweets versus spur-of-the-moment thoughts/experiences on Twitter?