Calling All Oustanding, Philanthropic Advisors: It's Our 33rd Annual Advisors with Heart Awards

If you are a retail financial advisor (independent, RIA-affiliated, wirehouse — it doesn’t matter where you sit), please contact me or any of the WealthManagement.com and REP. staffers. We are searching for candidates to receive our 33rd annual Advisors with Heart Awards. The award and profiles (and articles on how-to incorporate philanthropic advice into your practices) will appear in the May print issue and online. Here is last year’s winners.

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Good (Non-Business, Non-Best-Seller) Books For The Summer

The weathermen predict this Memorial Day weekend is to be rainy and cloudy, dampening (pun intended) backyard barbeques and beach days alike.

To help stave off the boredom of having to lay about in your summer rental in, say, East Hampton or Quogue (a small, family oriented village carved out of Southampton, where there are no nightspots and where gossiping is something of a pastime), you might as well stick your nose in a book—in a place where you won’t get wet.

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Geithner's 'Stress Test': Memorial Day Beach Reading?

It appears that the belly aching over former Treasury Secretary Tim Geithner’s new book, Stress Test: Reflections on Financial Crises, has finally subsided. It’s time to actually read in its entirety the nearly 600-page hardcover, preferably on a beach. I am not going to quibble with Geithner’s actions. Just one of his comments I…

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The Unprecedented Happens All the Time

In late 2011, early 2012, I was amazed and baffled by the valuations financial services stocks were being awarded. Having blown up (for all practical purposes) the financial system beginning in the summer of 2007, it was only natural that financial stocks should be sold off, because, well, some were insolvent. But as time wore on and the market began to recover, by four years on, I wondered why financial stocks were trading for half of their book/value or even less in some cases.

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Why Deep-Value Funds Could Be Ready to Rebound

Stan Luxenberg, our long-time mutual fund contributing editor, often write me ideas that, well, we don’t always feature because of some other pressing mutual fund trend, sector, and funds to write about. I thought I would share this brief note with you. Of course, to wade into these kinds of funds, you have to have a strong stomach as these are contrarian plays. Oh, and be willing to hold them for a long time. As one contrarian value investor I used to know told me back when I worked at SmartMoney, “I waited three years for my money to double overnight.”

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The Pope's Monthly Retirement Payment: Not So Gaudy

Our Assistant Managing Editor Diana Britton posted a note about how Saturday Night Live spoofed Pope Benedict XVI’s visit to a financial advisor to discuss his retirement package. What is so interesting is how rarely popes retire. The 85-year-old  Joseph Ratzinger will, according to foreign press accounts be paid 2,500 euros a month.

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Obama: “Tonight I propose...” More Government

It’s hard to imagine that President Obama would have the gall to say the words “unsustainable” and “debt” in the same sentence, let alone on the same day. After all, he did more to increase the debt burden than any president in history. Okay, let’s get this straight: Raise the price of something, you get more of it (minumum wage)? He implored lawmakers to put aside partisan politics (hilarious); and “create” more jobs (seize wealth from the private economy) and redistribute it to public workers ( a.k.a. infrastructure improvements). As if the president of the United States could create wealth and more without raising taxes by a “dime!” The refrain was: “I propose . . . [fill in impossible wealth-creating promises here, of your special interest's group's choice, natch].”

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Anybody Bullish on Japan?

Tom Lydon, the guy who you see all over the place, on the web, at speaking engagements, today posted an interesting observation on his LinkedIn page. To wit:

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An Idiot's Guide to Screwing Up the Economy

Outgoing Treasury Secretary Tim Geithner is peddling a book deal. This morning, Charlie Gasparino offered some book titles. The headline to this blog is just one of them. He also suggested: What I saw at the (Socialist) Revolution. Another choice one: Mysteries of Space: How a Guy with Little Between His Ears Made It So Far.

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Occupy Wall Streeters in NYC Are "Children of the Elite"

The whole Occupy Wall Street movement was less spontaneous than advertised. Rather like the pre-existing anti-gun (and therefore personal liberty) political agenda that used a tragic event or two to cajole lawmakers into creating questionable legislation, “It seems those Occupy Wall Streeters were,” as the New York Post reports today, “a lot closer to the 1 percent than they would like to admit.”

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