Top Tweets: Ritholtz, Brown Conference Takeaways

Financial bloggers and advisors Josh Brown and Barry Ritholtz -- who recently launched an RIA, Ritholtz Wealth Management – hosted their fourth annual Big Picture Conference Tuesday in New York City.

"The consensus on stage was that the chatter on Twitter and cable news — Syria, the Fed Chair, the government shutdown — shouldn't affect the strategy advisors develop for their clients,” said Aaron Klein, CEO at Riskalyze, a risk management and portfolio construction tool provider. “The irony is, since many of their clients frantically call about news events, advisors still have to grapple with some things they should be able to ignore."

John "Jack" Brennan, chairman of the Vanguard Group, argued that the real culprit of active management is "expensive active" with fees that aren't justified economically.

Financial economist Stephanie Pomboy of MacroMavens noted that the economic picture is disheartening for many advisors. Over the last year, China has become a net seller of US treasuries, she said, noting that if the Fed isn't there to buy treasuries and monetize the deficit, who will? "Certainly not someone with a profit motive."

Here’s a snapshot of some of the smartest things heard – and tweeted – at the conference (follow #TBP2013 to see a longer list):

If ever there were a bubble that could go on longer than you staying solvent betting against it, it's China. - Stephanie Pomboy #TBP2013 --Downtown Josh Brown ‏@ReformedBroker, financial advisor at Ritholtz Wealth Management

Jim O'Shaughnessy sees high risk for negative real returns in long bonds, calling this "a generational selling opportunity" #TBP2013 --William Sweet, CFP® ‏@billsweet, president at Stevens & Sweet Financial

Small investors haven't returned to stocks after suffering multiple bubbles, Boyar tells #TBP2013 http://on.mktw.net/15XWYwT--William L. Watts ‏@wlwatts, senior markets writer at MarketWatch

"Target retirement products & ETFs are both distributive and enduring in the market," says @Vanguard_Group Chairman Jack Brennan --Paula Vasan ‏@PaulaVasan, Senior Digital Editor, Financial Planning  

"Active management is certainly not dead," says Jack Brennan of @Vanguard_Group  #TBP2013  --Paula Vasan ‏@PaulaVasan, Senior Digital Editor, Financial Planning  

VG's Jack Brennan @ #TBP2013 : I am very optimistic for the advisory business as a whole generation of investors needs investment advice. --Vanguard ‏@Vanguard_FA

"It's a burgeoning time to be in the financial advisory business," says Jack Brennan of Vanguard #TBP2013 --Financial Planning ‏@finplan

Read More: Barry Ritholtz, Josh Brown Day-Long Conference