Brandon Langley

Recent Posts

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

Bubbles – Are We in One and Does It Even Matter?

Posted by Brandon Langley on 2/11/21 12:58 PM

Perhaps the most striking characteristic of economic bubbles – which is also what fuels their very existence – is our blindness to them.

Historically, few have correctly called a bubble in advance. And yet, in modern times, people have been asking if we’re in the bubble since 2010. What gives?

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Topics: Behavioral Finance, Systematic Investing

2021 Market Predictions are Trash

Posted by Brandon Langley on 1/5/21 12:27 PM

A colleague recently shared with me a story about a January tradition of the Kiwanis Club of Cape Fear in Fayetteville, NC, which holds a contest to see who can best predict where the Dow Jones Industrial Average will end the year.

She described how some members have a thoughtful internal debate while others jot down numbers seemingly at random. By the following year, pretty much no one remembers the guess they submitted, and rarely is the winner someone within financial services. A chiropractor won in 2020, a national defense analyst the year before.

What made the contest sound so fun to me is that the guesses and winners seem so haphazard and unexpected. Why? Because most predictions are garbage.

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Topics: Behavioral Finance

ESG Investing: Driven by Risk Management & Client Demand (Part 2)

Posted by Brandon Langley on 10/27/20 9:41 AM

There’s been a paradigm shift in our recent conversations with advisors about ESG investing.

Whereas ESG investors previously were thought by some to be anti-capitalist tree huggers, this silly trope has run its course. Instead, there is a realization that optimal management of resources, social equity, and ethical corporate administration can significantly benefit human productivity and profits across the board.

This realization has helped portfolio managers recalibrate the idea of risk that is embedded within a portfolio. Just the same, the groundswell that is ESG has made it increasingly self-evident to investors that they no longer have to choose between their ideals and returns.

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Topics: Systematic Investing

You Can’t Win a Tournament in Round 1, But You Sure Can Lose It

Posted by Brandon Langley on 10/20/20 12:05 PM

Haters who know I bleed “Carolina Blue” will accuse me of taking a cheap shot with the story I’m about to retell. But when the world of sports rivalries intersects with managing risk in an investment portfolio, it seems unreasonable to ask me to not make the following comparison!

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Topics: Systematic Investing

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