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 Evan
Simonoff is editor-in-chief and editorial director of Financial Advisor
magazine, as well as editorial director of Private Wealth magazine. He
has spent more than 15 years as an editor and reporter covering the
financial services industry. Evan is a widely recognized expert on
personal finance and investments.
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It is an unfortunate fact that we live in a world of imbalances. Three years ago, the global economy was dependent on American consumers
shopping until they dropped, which they finally have. Today, that same
world economy is dependent on China building a city the size of Houston
every two months. Something is wrong with this picture and people everywhere are realizing it.
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Unless something major happens in the next three months, the first
Tuesday in November won't be "much fun for Democrats," according to former
New Jersey Gov. Jon Corzine.
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When it comes to the art of being a silver-tongued purveyor of doom,
Nouriel Roubini can't hold a candle to Jeremy Grantham. So when Grantham
voices concerns that Europe is jettisoning the economic policies of
Keynes for those of Herbert Hoover, I take him more seriously than, say,
Paul (One-Note) Krugman.
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As I reread the interview I did with Fiduciary Network CEO Mark Hurley
in the July issue, it suddenly dawned on me how prescient many of his
observations were, particularly about the benefits and pitfalls
associated with potential acquirers of RIA firms. At the same time, I
couldn’t help but wonder how much he had contributed to the delusional
suspicions among many RIAs that their businesses were worth a fortune.
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Watching events unfold in Greece and the rest of Europe over the last
month, I couldn’t help but think of a scene from the 1981 movie, Fort
Apache, The Bronx, in which Paul Newman plays a cynical, jaded cop.
After a bad dude from a nasty gang is arrested, the police station is
surrounded by his posse chanting, “Let the brother go.”
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A financial advisor who occasionally moonlights as an expert witness recently told me that he had many more requests to testify than he can handle. As the financial services business emerges from the Great Recession, we
continue to discover new details about how the global economy came so
close to something even worse than what we’ve experienced. Books by
Michael Lewis, Vicky Ward, Charles Gasparino, and Andrew Ross Sorkin are
taking great pains to spell out how this perfect storm unfolded.
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If all goes according to expectations, next year the federal tax rate on
capital gains will rise for the first time in 23 years from 15% to 20%.
Though the past isn't always a distant mirror, it's worth taking a walk
back in time to 1986 and revisit what happened in that era.
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Since this decade has commenced a few short months ago, the U.S. dollar
has defied conventional wisdom and appreciated fairly dramatically.
Suddenly, it’s the un-Euro, according to Loomis Sayles global
fixed-income guru Dave Rolley.
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What's the real story behind RIA mergers? Some are successful, but in general the picture isn't pretty.
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There is about a 30% chance the Republican Party could regain control of the House of Representatives, according to Democratic strategist Charlie Cook.
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CONFERENCES
Dorothy 
