Lee Munson noted in CFAs book review of Kyenes’s Way to Wealth

June 12th, 2015 by

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Lee Munson was noted in CFAs book review of “Keyne’s Way to Wealth”. Click on the image about to read the full review.

via blogs.cfainstitute.org

Fed’s reluctance to raise rates hurting the economy?

June 2nd, 2015 by

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Fed’s reluctance to raise rates hurting the economy?

by Fox Business Videos 8:06 mins 

Trading Advantage Senior Market Strategist Scott Bauer, RDM Financial Group CEO Ron Weiner, Bluestone Financial Institutions Fund’s Jason O’Donnell and Portfolio Wealth Advisors co-founder Lee Munson discuss the 1Q contraction in the U.S. economy and offer their picks on where to invest in the market.

via finance.yahoo.com


Why investors shouldn’t sell in May and go away

May 5th, 2015 by

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May. 04, 2015 – 7:58 – Royal Oak Financial Group Managing Partner Matt Jehn, Portfolio Wealth Advisors CIO Lee Munson and Money Block V.P. Joe Cusick on the outlook for the markets.

The Larry Kudlow Show

May 5th, 2015 by

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Albuquerque Financial Expert and Chief Investment Officer of Portfolio Wealth Advisors was asked his opinions about the strong US dollar and his outlook for stocks this year. “You can’t stop capitalism” was Munson’s response when asked how policies in Europe will affect their slowly recovering economy. “Just look at the huge relative performance of international stocks to the US and the ask why investors dumped these well performing securities last year.” Diversification is designed to make portfolios less risky and better performing, Munson says. Kudlow agreed with Munson that the strong dollar isn’t going to wreak the market. When asked his expert opinion about international markets Munson told Kudlow that a strong focus on value is key. “Over the long term, if you buy cheaper stocks with reasonable valuations versus overpriced securities, you have a better chance at success.”

The Evolution of Lee Munson

April 21st, 2015 by

We’ve heard the story more than once: A young, swaggering stockbroker finds he has a knack for the business, makes more money than God, gets caught up in the libertine excesses of Wall Street’s glory days, then finds himself questioning the morality of his chosen profession. He retreats from the life and emerges later as a reformed broker, shining a light on the dark corners of Wall Street and finding a new mission to put the interests of clients first, preach against the commission model, and embrace the job of independent, fee-only investment advisor.

But not all have ridden that pendulum like Lee Munson. In 2001, he was a 25-year-old Bear Stearns broker profiled in a New York Observer article as a prime example of Wall Street’s boom years gone bad. Full of outrageous quotes, overly confident braggadocio, and references to Prada, Gucci, BMWs and Nobu, it’s a portrait so over the top (“If I ripped my skin out, you know what would flow out?” he asked. “Bloody cash, baby. Money! Rip it out, it’s gold!”) even his wife claimed he should not be taken seriously.

Months later the Twin Towers fell, and Munson moved to New Mexico, where he evolved into the exact mirror opposite of the young player profiled in the Observer. He decried the commission model and joined NAPFA. He started his own RIA, Portfolio Wealth Advisors. And he published a book, Rigged Money: Beating Wall Street at Its Own Game, in 2011, about how the financial system is stacked against Main Street investors.

But there is a third act to this story. In short, Munson says now that there is a place for commissions, NAPFA is a “cult,” and despite what some financial-planning purists may think, it is okay to make a lot of money in this industry.

“I was a NAPFA cult member—if it wasn’t fee-only, it was evil,” Munson says. But he found his new firm wasn’t really able to offer the kind of holistic financial planning that he intended. “I realized that I wasn’t really hitting the mark with people. I wasn’t really able to do anything other than manage stock and bond portfolios. It just wasn’t satisfying to me, and it certainly wasn’t satisfying to a lot of our clients.”

Offering insurance, he felt, was a big way to close that gap. He partnered with Tracy Ann Miller, a chartered life underwriter who specializes in insurance consulting and financial planning, in January 2014.

So after denouncing the commission model for years, he did an about-face, ditching the fee-only mantra in order to make money on the insurance side. Insurance now accounts for about 10 percent of their business.

“The fee-only thing is a real disservice,” Munson says. He compares it to Alcoholics Anonymous; financial planners are basically saying they cannot be trusted to engage with any financial product that pays a commission. “I have a problem, and I can’t control myself. So I have to join this cult called NAPFA, and I have to tell everybody, ‘I’m not allowed to drive because I’ll get drunk and crash.’”

In fact, Munson was doing some insurance work for clients while he was fee-only, but not getting compensated for it.

“Basically I do all this work, but somebody else is getting a big fat check,” he says.  When he asked other NAPFA members how they did it, they suggested he charge an hourly fee for the work, which Munson considers “double-dipping.”

“Economically, I don’t play these little shenanigans. Economically, this money is being generated; it’s going to somebody. Have it go to the person who’s actually doing the work.”

‘I’m Not Giving Up The Money’

Portfolio Wealth Advisors, with some $250 million in assets, still doesn’t have a broker/dealer affiliation, but since the change, Munson says clients are more satisfied, and it’s more of a pure business.

And more lucrative. “Everything last year just went like clockwork,” he says. “I personally never made more money. The firm’s never been more profitable.

“I think in our business, we always pretend that we’re not highly compensated. We always pretend, ‘Oh, I didn’t just buy that Ferrari. I’m not spending my weekends in Taos skiing.’

“It’s like, goddamn straight I did. There’s a quote from Mark Cuban that says, ‘If you feel like your customers own you, it’s because they do.’ This is very stressful. It dominates my life. It ruins my marriage. It takes time away from my kids. It’s highly paid. Do you hear surgeons going around saying, ‘Oh, I’m so sorry. I really just make $50 grand.’ You don’t.

“We got into this business because we wanted to make money. You stay in the business because you realize that people need help. If not, I’d be a stockbroker still. I got into the business as a stockbroker, so that should tell you something: I like to make money. But I changed to an RIA. Why? Because as I got older and started a family and started to think about who I was as a person, I thought, ‘You know, I’m not giving up the money. What I will do is give up being an ass.’”

How Not to go to Jail Before 30 | Presentation on 7-15 at 7pm

April 8th, 2015 by

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Snapchat and Alibaba overvalued and that’s not news!

March 20th, 2015 by

It’s Time to Ditch Intel Corporation (INTC)

March 13th, 2015 by

Intel Corporation (NASDAQ:INTC) fell into the red after slashing its revenue forecast for the first quarter by $1 billion as the company continues to struggle with declining demand for personal computers. Challenging macroeconomic, as well as currency conditions, continue to mount more pressure on the giant chip maker. Fox Business’, Adam Shapiro, believes the only way out of the current debacle for investors is investing in companies that are not affected by currency fluctuations.

Intel, is INTC a good stock to buy, Jon Fortt, bull, bear,

The macro environment has remained suppressed in the recent months forcing many people to shy away from upgrading their PCs the way they used to. The Dollar, on the other hand, continues to clock record highs against the Euro a key market for Intel Corporation (NASDAQ:INTC)’s PCs. Meaning the company will always end up with reduced income when converting earnings in Euro’s to dollars.

“I am not going to tell you what company you are going to buy the dollar is not going to get any cheaper over the next year or two. You should be looking at a company, which is not going to have to translate foreign currency back in the U.S dollar because you are going to take a big hit. That’s what is hitting Intel as well,” said Mr. Shapiro.

Intel Corporation (NASDAQ:INTC)’s problems, on the other hand, have been compounded by its late entry into the mobile business an area where QUALCOMM, Inc. (NASDAQ:QCOM) continues to reap big. The growth in popularity for smartphones and tablets has only gone to hurt Intel’s PC business as many people opt not to upgrade their old models at the expense of shifting to the small handheld devices.

Any investor should not be considering investing in the chip business, says Price Futures Group senior market analyst, Phil Flynn, as the situation could get worse going forward. Instead of investing in Intel Corporation (NASDAQ:INTC), Portfolio Wealth Advisors Co-founder, Lee Munson, believes NXP Semiconductors NV (NASDAQ:NXPI) would be the best option as it is not exposed to the effects of declining PC demand.

“What they have done is they have this similar to vertically integrated ecosystem, but it’s all about the internet of things and selling chips that have to do with high security. Security is a big issue it’s a big topic of conversation on Wall Street. So if you can find a chipmaker that does not have those legacy issues of making PCs and going to high security and all this little devices with smaller specialty chips. I think you’ve got out a winner,” said Mr. Munson.

via insidermonkey.com

Are we heading back into a copper bubble?

February 27th, 2015 by

Feb. 24, 2015 – 4:35 – FBN’s Cheryl Casone, Portfolio Wealth Advisors Co-Founder Lee Munson and Kaltbaum Capital Management President Gary Kaltbaum on the copper industry, what copper price movements mean for investors and the smart watch

In which small caps should you invest?

February 27th, 2015 by

Feb. 24, 2015 – 5:42 – FBN’s Cheryl Casone, Portfolio Wealth Advisors Co-Founder Lee Munson and Kaltbaum Capital Management President Gary Kaltbaum on where to invest as the Russell 2000, putting money in small caps and the homebuilders industry.

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