Kyle Moore
6.3K posts
Kyle Moore
@KyleSMoore
CFP® | Founder of Quarry Hill Advisors | Here to synthesize what I'm learning about business, investing, and personal financial planning
St Paul, MN Katılım Ocak 2011
486 Takip Edilen2.2K Takipçiler
The financial advisory industry is structurally designed to underdeliver.
I know because I worked inside it.
Most advisors are paid to manage assets, not improve outcomes.
So the system pushes:
• Gathering assets
• Managing portfolios
• Talking about markets
Meanwhile the things that actually create wealth get less attention:
• Taxes
• Insurance
• Estate planning
• Business strategy
• Cash flow
• Risk management
Investments matter, but they’re only one piece of a much bigger puzzle.
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@imericrife I became an advisor at age 28, under the mentorship of some excellent, experienced advisors. I had done a ton of reading and learning, and yet I was so incredibly unprepared for the breadth and depth of what a competent CFP does for clients. This is VC-backed Dunning-Kruger!
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Went to a happy hour for this company because a guy I knew from college was working there. Later I took an introductory call just out of curiosity and left more steadfast in my belief that I'll never be an advisor at a company not run by advisors. Fundamentally just no understanding of the business.
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@m__spal @moseskagan Usually we aren’t wrestling with the actual math with modeling nowadays. We are adjusting variables to understand different possibilities, hoping there are no errors in our formulas. I think modeling with AI is far superior.
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@moseskagan The danger isn’t AI doing the work, it’s skipping the thinking. If you don’t understand the model before the output, you’re just approving math you didn’t wrestle with.
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One big (hopefully temporary) problem w AI
It's very nice and convenient that you can now use AI to build complicated spreadsheets, write investment memos, and design PowerPoint decks.
But we are losing something important: The deep understanding of a project that comes from wrestling with building a model, flexing the model to make strategic and tactical choices, and then figuring out how to explain those choices in writing to a wider audience.
Eventually, AI will just make all the decisions for us and we'll probably all be better off.
But, during this interregnum period, bc decision-makers are more detached than ever from the "guts" of their projects, I'm worried we're going to do dumber stuff than we would have done doing things the old way.
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@moseskagan You could say the same thing about the spreadsheet itself. The spreadsheet advanced our modeling capabilities far beyond what we could accomplish with paper and pencil. Our tools do change us, but no one wants to go back to paper and pencil.
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@Dan_Jeffries1 Agree. As a business owner, I have no interest in applying AI to our marketing. I want my marketing agency to do that for me.
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Update: zero percent of ad agencies will be out of business. They will just use the tools.
Why do folks think everyone wants to do every job?
I want my ad people to use the ad AI and my accountant to use the accountant AI and my doctor to use the doctor AI while I check on it with my own doctor AI to be really sure.
It's AI all the way down, baby.
Think augmentation, not replacement.
Think co-creative.
Mark Gadala-Maria@markgadala
Update: 95% of ad agencies will be out of business by Q3 of this year.
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@EconomPic @CliffordAsness There was nothing controversial in the clip. Either Cliff has watched the whole thing and we are missing info from the interview, or he’s knee jerk reacting to what he thinks Jon must have said based on Thaler’s comment, not the clip itself.
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@CliffordAsness I agree with everything Jon Stewart said in this clip and none of it seems remotely controversial 🤷♂️
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Or, just spitballing here, maybe Jon Stewart is a moron who thinks he’s smart because of 1000 ersatz edited “interviews” designed to create that illusion, and his idiocy now shows up as epically stupid hate for the system that has led human flourishing on a grand scale.
But maybe it was the coffee.
Richard H Thaler@R_Thaler
Jon was three hours and several coffees ahead of me in this discussion, plus home court advantage. That said, I think Jon somehow thinks we can get rid of markets. Not sure how that works. Markets are imperfect but what is the alternative? Let Trump pick winners and losers?
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Minnesota resident here. Before the ICE surge, Republicans actually had momentum in state elections. We do have a fraud problem, but not an illegal immigration crisis. Dropping 3,000 federal agents into our communities is harming and scaring everyday Minnesotans and is a total political self-own for the GOP.
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They must be hiding something very big in Minnesota to send their foot soldiers there from all over the country
Arthur MacWaters@ArthurMacwaters
Let me get this straight: 1. prior administrations deported millions of people, and riots were basically nonexistent 2. the moment trump took office, a coordinated campaign by politicians/legacy media *directly called for resistance to ICE* 3. once riots happen and people are die, the spotlight shifts to stopping deportations and defunding ICE If this was such a crime against humanity, why did no one riot in 2024? The intention behind the unrest is NOT empathy. Empathy is being manufactured on false grounds to achieve political aims. And people are getting hurt.
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Kyle Moore retweetledi
4. Answer very specific question
5. Q & A w/ team member
6. Should I do X or Y?
7. How to X
8. Listicle
9. What is the difference between X & Y
10. Top Mistakes X make
Featuring @dollarsanddata @WealthKeel @DefineFinancial @RetireMeASAP @MyraWealth @KyleSMoore @FinancialGym
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For years, investors with big unrealized gains had two bad choices:
👉Stay concentrated
👉Trigger a huge tax bill.
Now there’s a third option.
A 351 exchange lets you swap a single stock for a diversified ETF without realizing capital gains.
You keep the tax deferral, keep the compounding, and finally reduce the risk.
For the right investor, it’s a complete game changer.
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Kyle Moore retweetledi
Uncomfortable truth about success:
It’s very often a multi-generational compounding exercise…of both habits & capital.
(& if you’re the 1st in your fam to work for something better, you’re the Founder. Am sincerely rooting for you to change the course of your family history.)
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A real estate agent taught me what great advice really feels like.
Real experts make things simple.
On one walkthrough, he spotted things we'd never notice, came prepared, and gave us a clear plan.
That’s the value: confidence and clarity, not just information.
If you advise others, do they feel that?
And if you're the client… should you find someone who does?
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@averagemoneymd @nate_tomkiewicz I think you probably will have that problem! I ran some projections for someone who was deferring that much until his early 50s. He had so much deferred that it made more sense to shift to post-tax contributions even though he was still working and in a high tax bracket.
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@nate_tomkiewicz @KyleSMoore Yes I’d love that problem :)
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Setting our baseline investment goals for 2026. Plan to put in $200k into tax protected accounts.
Will also get 401k match, 401k profit sharing and then any extra $$$ can go to our taxable accounts.
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Do you want to get lucky… or get wealthy? Two entirely different games.
Only 4% of stocks have created ALL the wealth in the U.S. market since 1926.
That's a 4% bet with 100% of your retirement.
Even Warren Buffett doesn't try to time the market.
Here’s a better strategy:
- Own lots of stocks.
- Diversify globally.
- Let compounding work.
Great odds beat great luck every time.
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@jaredmachen 100%. So many policy decisions are made without due consideration of second-order effects
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@KyleSMoore I feel like this legislation is always in a vacuum.
We have X billionaires. If we tax Y it will raise Z in revenue.
But there is always someone on the other side of that rule that can change their behaviors.
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The ultra-wealthy are already highly mobile. Not a surprise that this would happen!
Mr Family Office@MrFamilyOffice
for en overraskelse 🇳🇴
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@PhilMickelson Totally understandable, but this will have the opposite of the intended effect. I wasn't aware of this article until you tweeted about it. The Barbara Streisand effect is unintentionally calling more attention to something you want people to pay less attention to
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I know from experience that being in the public eye makes me a frequent target for sensationalized media coverage. I get that it comes with the territory but there are legal limits on false reports. And while I may have been willing to "let it go" in the past, I'm no longer going to sit quietly and take it when those lines are crossed. I have retained world-class defamation counsel Tom Clare to advise and represent me on this "article" by Hunterbrook and anyone who reposts it. More to come....Lots 😉
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Most people miss their biggest tax window: ages 59 to 70.
That’s when you control your taxable income and make every dollar count.
Smart moves like Roth conversions, tax-free loans, and 0% capital gains can mean millions over your lifetime.
It’s not about this year’s taxes…it’s about minimizing them for life.
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Another great piece from @KyleSMoore at Quarry Hill:
quarryhilladvisors.com/blog/wise-mone…
My favorite part: "someone with plenty of financial slack might delay replacing their tires not because of money, but because of time. Between work and family, time slack can become the scarce resource. The tradeoff shifts from dollars to minutes."
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