Last updateMon, 16 Jan 2017 3pm

Elman gives locally, earns international acclaim for advisory work

Courtesy of Brad Elman
Brad Elman, center in all black, throws out a ceremonial pitch with his Little League Challenger Division team, in Giants jerseys, and Stanford running back Christian McCaffrey, in shorts, before the start of the Challenger Division 2016 season.

Brad Elman has been a financial professional in Los Altos for nearly 20 years. He has been a member of the Million Dollar Round Table for even longer, and last month the 89-year-old association of financial professionals named him divisional vice president of membership.

It is the third time Elman has been named a vice president of the Million Dollar Round Table, and this time he will be responsible for monitoring the qualifications of the organization’s nearly 50,000 members from 70 countries.

iParq contract reveals details of new parking system

Asher kohn/town crier
The new iParq-issued parking permit, with barcode, sits below the old-style parking permit. The new permits are made by contracted designers and read by iParq equipment.

The city of Los Altos recently paid approximately $13,000 for a new digital parking management service. The contract with iParq, obtained by the Town Crier, is effective through 2018, with the option to extend the agreement for an additional five years, through 2023.

According to Jennifer Quinn, Los Altos’ economic development manager, the contract involves a host of start-up expenses the city will not have to pay in future years.

Market conditions slow as pending home sales rise

MEGAN WINSLOW/town crier
More houses and townhomes are on the market – like this home listed by Sereno Group near downtown Los Altos. According to the Silicon Valley Association of Realtors, 29 percent of homes sold for above asking price in August.

Realtors responding to the California Association of Realtors August Market Pulse Survey report a slowing down of most leading indicators of overall market conditions, such as a decline in floor calls, listing appointments and open-house traffic.

The survey revealed that the share of homes selling above asking price rose to 29 percent in August, up from 27 percent a year ago. The share of properties selling below asking price dropped from 48 percent in August 2015 to 41 percent. The remaining 30 percent sold at asking price, up from 25 percent in the same period last year.

Does investment diversification still work after the 2008 crash?

A cornerstone of modern portfolio theory is the concept that you can reduce the risk of an investment portfolio by adding securities whose performance does not correlate with those in the portfolio.

Research studies confirmed that the diversification in an investment portfolio explained more than 90 percent of the variability in portfolio returns from year to year. That makes sense intuitively: When some asset-class returns turn negative in a given year, returns from other asset classes can potentially be positive, mitigating the losses.

Miyo is frozen out downtown

Megan V. Winslow/Town Crier
Customers stand outside of Miyo, which closed last week.

When Miyo opened in winter 2008, co-owner Doug Matsumoto was optimistic because customers followed sunshine into his frozen yogurt shop.

“The sun comes out and people come in,” he said at the time.

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