The NFL draft is a lot like investing in the stock market

Brad Penner-USA TODAY Sports

What the NFL draft can teach us about investing (Institutional Investor)

A research paper written by Richard Thaler and Cade Massey concluded the biggest mistake NFL teams make during the draft process is paying too much for the chance to draft top players. The two lessons learned from these mistakes: "The best player (or company) does not necessarily make the best pick " and "NFL general managers (and investment managers) overpay for glamour." Stocks nobody wants are similar to late-round draft picks, they often provide the best value for the money.

Tips from a 99-year-old Wall Street veteran (Bloomberg)

99-year-old Irene Bergman took a job on Wall Street in 1957 and never looked back. Her career on Wall Street allowed her to spanned several decades, allowing her to form many opinions about investing. She believes investors should wait at least three years before making a decision on any holdings, and that you shouldn't be afraid to shift the strategy of your portfolio. What does she regret? "I missed Apple totally," Bergman said. "Apple was too much for me." As for some advice Bergman says not to do anything stupid.

Fed board member Brainard says the US economic slowdown might not be temporary (Reuters)

Federal Reserve board member Lael Brainard believes the economic slowdown in the US might be more than just transitory. Speaking at the Center for Strategic and International Studies, Brainard suggested, "It would be difficult ... to dismiss the possibility of a more significant drag on the economy." Contributing factors of the recent economic weakness include the strong dollar, tepid consumer spending and low investment. Brainard also believes a slowing Chinese economy and the unresolved Greek debt crisis are likely to provide headwinds to US economic growth.

How to value a RIA (Financial Planning)

Financial Planning says valuing a RIA is a lot like the country western film "The Good, The Bad and the Ugly." The Good is using discounted cash flows; The Bad is looking at the value of hard assets; and The Ugly is using comparables. Why is discounted cash flows the best method? "The discounted cash flow technique calculates a company's valuation by projecting its cash flows into the future, and then discounting these cash flows back to present-day based on the risks associated with the company," according to Financial Planning.

LPL Financial hires a new CFO (Financial Advisor)

LPL Financial has named Matthew Audette CFO. Audette joins LPL after spending the last 16 years at E*TRADE Financial Corporation where he worked in various capacities, most recently as executive vice president and CFO. "Matt is an expert in capital allocation and is a leader in creating organizational efficiency, which will be invaluable as LPL enhances its client experience and continues its growth trajectory," noted LPL Chairman and CEO Mark Casady.