Category: Analysis

Analysis

10 Monday AM Reads

Market Expert Dec 13, 2025

My back-to-work morning train WFH reads: • Trump’s Tariffs Could Be Overturned. Companies Are Rushing to Get Refunds. Dozens of importers, including major companies, are filing lawsuits to preserve their right to tariff refunds ahead of a key December 15 deadline.The Supreme Court is expected to rule soon on the legality of tariffs, with potential… Read More The post 10 Monday AM Reads appeared first on The Big Picture.

Analysis

Transcript: Paul Zummo, CIO, JPMAAM

Market Expert Dec 13, 2025

The transcript from this week’s, MiB: Paul Zummo, Chief Investment Officer of J.P. Morgan Alternative Asset Management, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~… Read More The post Transcript: Paul Zummo, CIO, JPMAAM appeared first on The Big Picture.

Analysis

Whatever Happened to NFTs?

Market Expert Dec 13, 2025

Last week’s Sturgeon’s Corollary generated a bit of pushback. The most relevant questions were about ETFs as a group: “Surely, 90% of all ETFs are not crap” was a theme. Do the math: As of last count, there are 4,297 ETFs; as a comparison, there are only ~3,500 publicly traded equities (but ~2… Read More The post Whatever Happened to NFTs? appeared first on The Big Picture.

Analysis

Whose Inflation Is This?

Market Expert Dec 13, 2025

Perhaps the most overlooked element in the “affordability hoax” is the president’s own role in it. Before we get into the details, a few preliminary caveats. First, as COVID-19 ran wild, lockdowns were beginning, and a vaccine was still off in the future, there was genuine panic spreading through the government. Hobson’s choice The… Read More The post Whose Inflation Is This? appeared first on The Big Picture.

Analysis

10 Thursday AM Reads

Market Expert Dec 13, 2025

My busy-all-day-and-night morning reads: • Are retail traders the captains now? It’s often easy to laugh at retail traders as they post loss porn on Reddit, insist Strategy’s strategy is sound, buy Bonk ETFs, argue that Bed Bath & Beyond’s cancelled shares are worth something, and pump up fried chicken, quantum computing and small modular reactor… Read More The post 10 Thursday AM Reads appeared first on The Big Picture.

Analysis

10 Friday AM Reads

Market Expert Dec 13, 2025

My end-of-week morning train WFH reads: • Howard Marks: Is It a Bubble? Ours is a remarkable moment in world history. A transformative technology is ascending, and its supporters claim it will forever change the world. To build it requires companies to invest a sum of money unlike anything in living memory. News reports are… Read More The post 10 Friday AM Reads appeared first on The Big Picture.

Analysis

At The Money: Year-End Tax Planning Time

Market Expert Dec 13, 2025

At The Money: Year-End Tax Planning Moves with Bill Artzerounian, RWM (December 11, 2025) There is still time to make some smart moves to reduce your 2025 taxes. You have to be proactive to take advantage of the latest changes in the One Big Beautiful Bill Act. But you better hurry –… Read More The post At The Money: Year-End Tax Planning Time appeared first on The Big Picture.

Analysis

10 Weekend Reads

Market Expert Dec 13, 2025

The weekend is here! Pour yourself a mug of Danish Blend coffee, grab a seat outside, and get ready for our longer-form weekend reads: • Once a Gamble in the Desert, Electric Grid Batteries Are Everywhere: An early grid battery was installed in the Atacama Desert in Chile 15 years ago. Now, as prices have tumbled, they… Read More The post 10 Weekend Reads appeared first on The Big Picture.

Analysis

MiB: Stephen Cohen, BlackRock’s Chief Product Officer and Head of Global Product Solutions

Market Expert Dec 13, 2025

This week, I speak with Stephen Cohen, BlackRock’s Chief Product Officer and Head of Global Product Solutions. He is responsible for delivering solutions across investment strategies, asset classes and fund structures to help clients. He is also a member BlackRock’s Global Executive Committee. Previously, he was Head of Europe, Middle East and… Read More The post MiB: Stephen Cohen, BlackRock’s Chief Product Officer and Head of Global Product Solutions appeared first on The Big Picture.

Analysis

Ways To Say No To Avoid Making Yourself Too Busy: Kitces & Carl Ep 177

Market Expert Dec 13, 2025

As financial advisors progress in their careers (and lives), their attention is often pulled in many directions as opportunities present themselves. Some will be professional, such as speaking engagements or prospect inquiries; others personal, from community service to family obligations. Many of these requests are meaningful and made with good intentions. But if the advisorRead More... The post Ways To Say No To Avoid Making Yourself Too Busy: Kitces & Carl Ep 177 first appeared on Kitces.com.

Analysis

Why (Most) Advisors Shouldn’t Serve As Clients’ Trustees: Ethical Conflicts, Dual Fiduciary Duties, And The SEC Custody Rule

Market Expert Dec 13, 2025

Financial advisors are used to having close and trusting relationships with their clients, given the advisor's involvement in the intimate details of the client's financial life and the long-term nature of many advisor-client relationships. And it therefore occasionally happens that a client asks their advisor to serve as trustee for a trust they've created. ButRead More... The post Why (Most) Advisors Shouldn’t Serve As Clients’ Trustees: Ethical Conflicts, Dual Fiduciary Duties, And The SEC Custody Rule first appeared on Kitces.com.

Analysis

Weekend Reading For Financial Planners (November 15–16)

Market Expert Dec 13, 2025

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent study commissioned by Morgan Stanley demonstrated that investors with a financial plan are more confident in their ability to meet their future goals, which in turn makes them more likely to avoid overreactingRead More... The post Weekend Reading For Financial Planners (November 15–16) first appeared on Kitces.com.

Analysis

AI Compliance: Applying Existing SEC Regulatory Frameworks To Fast-Moving Technologies

Market Expert Dec 13, 2025

Given that the pace of technological change is often swift, regulatory bodies often struggle to keep regulations up to date amidst a rapidly changing landscape. In the past couple years, the rapid increase in investment adviser use of Artificial Intelligence (AI)-powered tools has presented a challenge to regulators in attempting to ensure (among other priorities)Read More... The post AI Compliance: Applying Existing SEC Regulatory Frameworks To Fast-Moving Technologies first appeared on Kitces.com.

Analysis

Hiring A Director Of Talent To Shape The Development Of Next Generation Advisors (And The Lead Advisors Who Train Them): #FASuccess Ep 464 With Katie Calagui

Market Expert Dec 13, 2025

Welcome everyone! Welcome to the 464th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Katie Calagui. Katie is the owner of Katie Calagui Consulting, a coaching and consulting firm that works with financial planning firm executives and leadership teams. What's unique about Katie, though, is how she supports firms inRead More... The post Hiring A Director Of Talent To Shape The Development Of Next Generation Advisors (And The Lead Advisors Who Train Them): #FASuccess Ep 464 With Katie Calagui first appeared on Kitces.com. Click the icon below to listen.

Analysis

Ways Advisors Can Optimize For AI Search With A Marketing Strategy Refresh

Market Expert Dec 13, 2025

Content marketing has long been a popular way for financial advisors to attract clients, given its ability to enhance Search Engine Optimization (SEO), increase traffic to the advisor's website, and ultimately lead to more inbound leads (without necessarily incurring a significant hard-dollar outlay). However, with consumers increasingly turning to Artificial Intelligence (AI)-powered tools to findRead More... The post Ways Advisors Can Optimize For AI Search With A Marketing Strategy Refresh first appeared on Kitces.com.

Analysis

Weekend Reading For Financial Planners (November 22–23)

Market Expert Dec 13, 2025

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that the Securities and Exchange Commission (SEC) this week released its list of examination priorities for 2026, which includes a combination of focus areas from previous years (e.g., RIAs' use of emerging technologies, data security, adviser-brokerRead More... The post Weekend Reading For Financial Planners (November 22–23) first appeared on Kitces.com.

Analysis

Making The Sell-Or-Keep Decision When You Hit A $260M AUM Wall: #FASuccess Ep 465 With Todd Pisarczyk

Market Expert Dec 13, 2025

Welcome everyone! Welcome to the 465th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Todd Pisarczyk. Todd is the founder of Momentous Wealth Management, an RIA based in Vancouver, Washington, that oversees approximately $400 million in assets under management for 400 client households. What's unique about Todd, though, is howRead More... The post Making The Sell-Or-Keep Decision When You Hit A $260M AUM Wall: #FASuccess Ep 465 With Todd Pisarczyk first appeared on Kitces.com.

Analysis

Delegate Your Least-Favorite Work By Hiring Your Opposite (Not Your Mini-me)

Market Expert Dec 13, 2025

Hiring a new employee brings the promise of delegation and an increase to the hiring advisor's individual capacity. Yet despite the promise that hiring offers, many firms struggle to see a meaningful lift from new team members. What often appears to be an onboarding issue – slow ramp-up, mismatched expectations, or underperformance – is moreRead More... The post Delegate Your Least-Favorite Work By Hiring Your Opposite (Not Your Mini-me) first appeared on Kitces.com.