FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. An Adviser Who Sued Michael Lewis For Depicting Him As A Villain Is Liable For Fraud (Reuters) Wing Chau, an investment adviser featured in Michael Lewis' book "The Big Short," and his firm Harding Advisory LLC were found liable by the SEC. Chau was ordered to pay $340,000 and the firm was ordered to pay $1.7 million, reports Sarah N. Lynch. During his SEC trial, Chau infamously broken down crying on the stand and shouted "shame on you" to an SEC attorney questioning him. The SEC judge cited Chau's behavior on the stand by saying that his "histrionics... eroded his overall credibility," reports Lynch. "Investors Should Strongly Consider Avoiding The Russian Stock Market" (Morningstar) "The Russian stock market is incredibly cheap by any measure. But there are serious concern about rule of law. And with oil prices in the [$50] range, the Russian economy will likely contract in 2015. Investors should strongly consider avoiding the Russian stock market unless they have a very high risk tolerance and are willing to potentially lose all of their money," writes Timothy Strauts. The chart below looks at the performance of Russian stocks, Russian bonds denominated in US dollars and euros, the ruble, and oil prices, with respect to key geopolitical events that have rocked Russian over last year. EP Wealth Is Almost At $2 Billion AUM After A New Deal (Financial Planning) EP Wealth Advisors is at $1.9 billion AUM three months after acquiring Moore Financial Group, reports Ann Marsh. "It was an easy fit because we were very culturally aligned and our service offering was very similar and we had all the infrastructure that he was looking for," says EP president Patrick Goshtigian of Moore partner Jon Moore. If European Populist Parties Flourish, It Will Likely Lead To A Reversal Of Globalization (Advisor Perspectives) Since the 2008 financial crisis, both left and right-wing populist parties have grown increasingly popular around Europe, including Syriza in Greece, Podemos in Spain, and the National Front in France. "In Europe, on the other hand, parliamentary systems can allow populist parties to exist on a small scale for years and flourish if conditions are favorable. If these populist parties in Europe gain power, it will likely lead to a reversal of globalization," writes Bill O'Grady. "If populist parties become powerful enough to control governments, we would expect the euro to depreciate; if governments threaten to exit the Eurozone and reintroduce legacy currencies, their bond yields would likely rise," he adds. Utility And Consumer Stocks Can Help Provide A Defense Against Market Volatility (InvestmentNews) "I don't think this will be the way it is all year, but if you're expecting more volatility or a sell-off at some point, getting defensive will work as a portfolio hedge," Quincy Krosby, market strategist at Prudential Financial Inc., told Jeff Benjamin. Krosby recommends a strategy of defensive positions in utility and consumer discretionary stocks and real estate investments on one side of the portfolio to offset riskier exposure on the other end.Join the conversation about this story »
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