Advisor Perspectives, a leading publisher and ranked as the #1 eNewsletter for financial advisors by the Erdos & Morgan “FAMOUS” Study (2019-2023) has announced its Venerated Voices™ awards for commentaries published in Q2 2024. Rankings were issued in the following categories:
- Top 10 Venerated Voices™ by Commentary
- Top 25 Venerated Voices™ by Firm
- Top 25 Venerated Voices™ by Author
- Top 25 Venerated Voices™ by Firm – Frequently Posted
- Top 25 Venerated Voices™ by Author – Frequently Posted
The frequently posted categories require a minimum of three posts per quarter, whereas the first three categories require only one post per quarter. We added the two frequently posted categories to highlight and reward those authors and firms who post regularly.
The most popular topics in Q2 2024 among all commentaries were related to inflation, market valuations, dividend investing, and the debt crisis.
Leading the Top 25 Venerated Voices™ by Firm category was Hussman Funds of Maryland, followed by Pring Turner Capital Group of California. In third place was Richard Bernstein Advisors of New York.
Among individual commentators, the most widely read was John Hussman of Hussman Funds. In second place was Richard Bernstein of Richard Bernstein Advisors, followed by John Mauldin of Mauldin Economics in third place.
The most-widely read commentary in the second quarter of 2024, published on May 8th, was This Is Where You Start Bear Markets From by John Hussman of Hussman Funds. Hussman argues that the current high valuations of the S&P 500 and other market conditions resemble those seen in past market peaks, such as in 1929 and 2000. He emphasizes that extreme valuations and unfavorable market internals suggest a defensive investment outlook. Hussman warns that investors often dismiss the significance of valuations during speculative bubbles, leading to potential long-term market losses. He advocates for a disciplined investment approach, relying on market internals and other indicators to gauge investor psychology and potential risks.
Whether a favorable shift in our gauge of internals follows a material retreat in valuations or is instead driven by a market advance that recruits fresh uniformity across a broader set of stocks, industries, sectors, and security-types, I have no doubt that we’ll observe a favorable shift soon enough. It’s at that time, without abandoning our discipline, that our outlook will shift. As usual, no forecasts are required.
You Can Ring My Bell took second place, written by John Hussman of Hussman Funds and published on June 24th. Hussman argues that the speculative market rise since 2009 has likely peaked, driven by extreme valuations, unfavorable market internals, and numerous warning signs. He emphasizes that current market conditions suggest significant potential downside risk for the S&P 500, estimating possible declines of 50 to 70 percent over the cycle. Hussman advises investors to critically assess their risk exposures, especially given the historical precedence of poor returns following similar market conditions. Despite his defensive stance, he remains open to changing his outlook if market conditions improve.
In third place was The Coming Supercyclical Crisis by John Mauldin of Mauldin Economics, published on June 17th. Mauldin expresses deep concern over the escalating government debt in developed countries, particularly in the U.S., predicting an inevitable crisis. He references Martin Barnes’ report, “Revisiting the Debt Supercycle,” which explains how post-WWII economic policies, aimed at stabilizing the economy, inadvertently led to excessive private and now government debt. Mauldin underscores that government interventions to smooth out business cycles have only postponed the reckoning, resulting in socialized debt. He concludes that without significant fiscal discipline, a severe crisis with substantial economic and social consequences is unavoidable.
Serving more than 100,000 unique visitors each month, Advisor Perspectives publishes news and analysis relevant to financial advisors of high-net-worth and ultra-high-net-worth investors. The site also publishes economic and market commentaries submitted by fund companies, advisors and independent research firms. In Q2 2024, over 650 such commentaries were published and made available through the Research Perspectives email newsletter.
Venerated Voices™ rankings were determined by the number of unique readers of each commentary, using data provided electronically by the third-party web analytics service Google Analytics. The data were normalized using the average score per month. Any participant is eligible to receive a quarterly award. Each firm and author are assigned a relative score based on unique pageviews, with a score of 100 equal to the average quarterly readership.
Advisor Perspectives will continue providing quarterly updates to its rankings, as well as issuing annual Venerated Voices™ awards.
The Top 10 Venerated Voices™ by Commentary
The Top 25 Venerated Voices™ by Firm
|
Rank
|
Firm
|
Score
|
|
1
|
Hussman Funds
|
1,505
|
|
2
|
Pring Turner Capital Group
|
671
|
|
3
|
Richard Bernstein Advisors
|
574
|
|
4
|
Mauldin Economics
|
408
|
|
5
|
Hoisington Investment Management
|
337
|
|
6
|
Real Investment Advice
|
277
|
|
7
|
Investments & Wealth Institute
|
236
|
|
8
|
Sondhelm Partners
|
233
|
|
9
|
Research Affiliates
|
210
|
|
10
|
U.S. Global Investors
|
206
|
|
11
|
RBC Wealth Management
|
198
|
|
12
|
Osterweis Capital Management
|
191
|
|
13
|
Bill Gross
|
190
|
|
14
|
Charles Schwab
|
189
|
|
15
|
Journey Strategic Wealth
|
179
|
|
16
|
Oaktree Capital Management
|
153
|
|
17
|
Smead Capital Management
|
116
|
|
18
|
Ned Davis Research
|
115
|
|
19
|
Janus Henderson Investors
|
113
|
|
20
|
Shelton Capital Management
|
112
|
|
21
|
Arete Asset Management
|
111
|
|
22
|
BlackRock
|
109
|
|
23
|
Allspring Global Investments
|
107
|
|
24
|
Comerica
|
100
|
|
25
|
GMO
|
97
|
The Top 25 Venerated Voices™ by Author
|
Rank
|
Author
|
Firm
|
Score
|
|
1
|
John Hussman
|
Hussman Funds
|
1,505
|
|
2
|
Richard Bernstein
|
Richard Bernstein Advisors
|
820
|
|
3
|
John Mauldin
|
Mauldin Economics
|
682
|
|
4
|
Martin Pring
|
Pring Turner Capital Group
|
671
|
|
5
|
Dan Suzuki
|
Richard Bernstein Advisors
|
400
|
|
6
|
Liz Ann Sonders, Kevin Gordon
|
Charles Schwab
|
394
|
|
7
|
Chris Brightman, Alex Pickard
|
Research Affiliates
|
377
|
|
8
|
John Sheehan
|
Osterweis Capital Management
|
346
|
|
9
|
Hoisington Investment Management Team
|
Hoisington Investment Management
|
337
|
|
10
|
Liz Ann Sonders, Kathy Jones, Jeffrey Kleintop
|
Charles Schwab
|
329
|
|
11
|
Lance Roberts
|
Real Investment Advice
|
277
|
|
12
|
Que Nguyen
|
Research Affiliates
|
260
|
|
13
|
Matthew Poterba
|
Richard Bernstein Advisors
|
257
|
|
14
|
Jim Cielinski
|
Janus Henderson Investors
|
243
|
|
15
|
Rick Rieder
|
BlackRock
|
240
|
|
16
|
Cole Smead
|
Smead Capital Management
|
236
|
|
17
|
Ross Riskin
|
Investments & Wealth Institute
|
236
|
|
18
|
Dan Sondhelm
|
Sondhelm Partners
|
233
|
|
19
|
Jeffrey Rosenberg
|
BlackRock
|
226
|
|
20
|
Jonathan Woo
|
Russell Investments
|
224
|
|
21
|
Frank Holmes
|
U.S. Global Investors
|
217
|
|
22
|
John Lloyd
|
Janus Henderson Investors
|
200
|
|
23
|
Kent McClanahan
|
RBC Wealth Management
|
198
|
|
24
|
Tiffany Wilding, Andrew Balls
|
PIMCO
|
197
|
|
25
|
Bill Gross
|
Bill Gross
|
190
|
The Top 25 Venerated Voices™ by Firm – Frequently Posted
|
Rank
|
Firm
|
Score
|
|
1
|
Hussman Funds
|
1,505
|
|
2
|
Richard Bernstein Advisors
|
574
|
|
3
|
Mauldin Economics
|
408
|
|
4
|
Real Investment Advice
|
277
|
|
5
|
Research Affiliates
|
210
|
|
6
|
U.S. Global Investors
|
206
|
|
7
|
Charles Schwab
|
189
|
|
8
|
Journey Strategic Wealth
|
179
|
|
9
|
Smead Capital Management
|
116
|
|
10
|
Janus Henderson Investors
|
113
|
|
11
|
BlackRock
|
109
|
|
12
|
GMO
|
97
|
|
13
|
WisdomTree, Inc.
|
73
|
|
14
|
Raymond James
|
73
|
|
15
|
PIMCO
|
73
|
|
16
|
Franklin Templeton
|
70
|
|
17
|
Parametric
|
55
|
|
18
|
First Trust Advisors
|
54
|
|
19
|
Russell Investments
|
50
|
|
20
|
F.A.S.T. Graphs
|
49
|
|
21
|
Matthews Asia
|
48
|
|
22
|
Northern Trust
|
46
|
|
23
|
Focus Point Capital
|
41
|
|
24
|
AllianceBernstein
|
41
|
|
25
|
Commonwealth Financial Network
|
38
|
The Top 25 Venerated Voices™ by Author – Frequently Posted
|
Rank
|
Author
|
Firm
|
Score
|
|
1
|
John Hussman
|
Hussman Funds
|
1,505
|
|
2
|
John Mauldin
|
Mauldin Economics
|
682
|
|
3
|
Liz Ann Sonders, Kevin Gordon
|
Charles Schwab
|
394
|
|
4
|
Lance Roberts
|
Real Investment Advice
|
277
|
|
5
|
Frank Holmes
|
U.S. Global Investors
|
217
|
|
6
|
Mark Lebida
|
Journey Strategic Wealth
|
179
|
|
7
|
Kelly Green
|
Mauldin Economics
|
170
|
|
8
|
Bill Cass
|
Franklin Templeton
|
152
|
|
9
|
Eugenio Aleman
|
Raymond James
|
147
|
|
10
|
Jeffrey Kleintop
|
Charles Schwab
|
134
|
|
11
|
GMO Team
|
GMO
|
122
|
|
12
|
Nick Peters-Golden
|
VettaFi
|
122
|
|
13
|
Samuel Rines
|
WisdomTree, Inc.
|
120
|
|
14
|
Charles Schwab Team
|
Charles Schwab
|
111
|
|
15
|
Bill Smead
|
Smead Capital Management
|
110
|
|
16
|
Ed D'Agostino
|
Mauldin Economics
|
110
|
|
17
|
Kathy Jones
|
Charles Schwab
|
108
|
|
18
|
Collin Martin
|
Charles Schwab
|
95
|
|
19
|
Jeremy Siegel
|
WisdomTree, Inc.
|
93
|
|
20
|
Russ Koesterich
|
BlackRock
|
77
|
|
21
|
Rob Kuharic
|
Russell Investments
|
73
|
|
22
|
Doug Drabik
|
Raymond James
|
66
|
|
23
|
Jennifer Nash
|
VettaFi
|
62
|
|
24
|
Ryan Boyle
|
Northern Trust
|
58
|
|
25
|
Carl Tannenbaum, Vaibhav Tandon, Ryan Boyle
|
Northern Trust
|
57
|
*This article was created with the assistance of generative AI.
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