Brandon Langley

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How Do Advisors Invest During Irrational Exuberance?

Posted by Brandon Langley on 7/8/21 11:58 AM

I love the beach, but I am not a huge fan of the ocean.

Maybe I’m alone here, but after watching “Jaws,” National Geographic programming, Shark Week on Discovery, and “Sharknado” 1-6, I just cannot shake that uneasy feeling when I’m venturing into the surf. Even when I’ve had the privilege of swimming or snorkeling in those crystal-clear Caribbean waters, there’s still a bit of anxiety of what’s potentially lurking in the distance just out of sight.

As we talk to advisors, it’s clear my feelings about getting into the ocean are similar to how they feel as they put client money to work during this seemingly endless bull market.

We routinely encounter advisors who are struggling with how to invest in equities right now. This is particularly tricky for those that have taken a more cautious approach during the last couple of years and now have to face tough performance-related questions and risk losing clients.

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Topics: Systematic Investing

What ‘Tommy Boy’ Teaches Us About Guarantees

Posted by Brandon Langley on 6/23/21 4:34 PM

What are your re-watchable movies? For me, it’s several cult classics from the mid-90s. It doesn’t matter how many times I’ve seen them, if I happen to catch them when flipping through the channels, I’m going to stop. Unfortunately, I usually end up only watching briefly until my wife rolls her eyes and asks, “Again…really?”

Recently, during my 845th viewing of “Tommy Boy,” I noticed an interesting parallel between Tommy’s description of the guarantee when selling brake pads and the act of wholesaling downside protection to advisors. Indeed, the guarantee does make you feel all warm and toasty inside, but is it really a “guarantee fairy” who’s a crazy glue sniffer?

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Topics: Systematic Investing

Anyone Want to Acknowledge the Bear Market in Bonds?

Posted by Brandon Langley on 5/25/21 11:50 AM

In a time when seemingly all assets are “melting up,” allow me to invoke one of my favorite Saturday Night Live characters, Debbie Downer, and provide a less-than-rosy dose of reality: U.S. government bonds, which have a “market cap” that’s equivalent to 2x the U.S. stock market, have all entered a bear market.

If you know the Debbie Downer persona, you probably read that statement with her voice in your head – and you’ll definitely be able to “hear” the sound of these words: WAH! WAHHH!

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Topics: Systematic Investing

Protecting the Financial Advisor’s Blind Side

Posted by Brandon Langley on 4/28/21 9:34 AM

The 2021 NFL Draft, which begins tomorrow, is expected to highlight more than ever that quarterback is arguably the most important position in all of sports.

If we stick to football and assume QB is indeed the most important role, what is second? Many cases can be made, but if money talks, then shouldn’t the answer be found in how NFL teams invest their hard-capped dollars?

And if so, what lessons can advisors take from this to improve their practices?

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Topics: Advisor Practice Management

Flows Before Pros

Posted by Brandon Langley on 3/8/21 3:39 PM

This is not another article about Reddit, Robos, and Robinhood.

Well actually, it a little bit is. But hear me out: We’ll be light on the pontification (you don’t need a 4,000th article on GameStop) but heavy on the conundrum financial advisors face and the trump card held by providers of financial advice.

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Topics: Advisor Practice Management

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