Abnormal Returns
JUNE 8, 2023
Markets The S&P 500 is top-heavy because profits are top-heavy. (bloomberg.com) Stop blaming individual investors for sentiment swings. (klementoninvesting.substack.com) Strategy Are international stocks worth the bother? (morningstar.com) If the SEC is cracking down, why bother with crypto at this point? (vox.com) Apple It may not look like it now, but the Vision Pro is the future.
The Reformed Broker
JUNE 8, 2023
Jefferies downgrades Wynn Resorts to holdfrom CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
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Abnormal Returns
JUNE 8, 2023
Books An excerpt from “Chaos Kings: How Wall Street Traders Make Billions in the New Age of Crisis” by Scott Patterson. (wsj.com) An excerpt from "Size: How it Explains the World" by Vaclav Smil. (engadget.com) A Q&A with Vanessa Patrick author of "The Power of Saying No: The New Science of How to Say No That Puts You in Charge of Your Life." (annieduke.substack.com) A Q&A from “The Long View: Why We Need To Transform How the World Sees Time” by Richard Fisher.
Calculated Risk
JUNE 8, 2023
From CoreLogic: CoreLogic: US Home Borrowers See First Annual Home Equity Losses Since 2012 in Q1 2023, but Overall Mortgage Performance Remains Strong CoreLogic®. today released the Homeowner Equity Report (HER) for the first quarter of 2023. The report shows that U.S. homeowners with mortgages (which account for roughly 63% of all properties) saw home equity decrease by 0.7% year over year, representing a collective loss of $108.4 billion, and an average loss of $5,400 per borrower since the f
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Wealth Management
JUNE 8, 2023
Treasury Secretary Yellen expressed her concerns about the effect that commercial real estate loans might have on banks. Forbes listed 71 real estate firms among the 2,000 largest public companies in the world. These are among the must reads from around the real estate investment world heading into the weekend.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
JUNE 8, 2023
The SEC also filed charges against Douglas McKelvey, who was accused of stealing $1.7 million from the Morgan Stanley accounts of his mother and mother-in-law over a period of nearly 10 years.
Calculated Risk
JUNE 8, 2023
The Federal Reserve released the Q1 2023 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits rose to $148.8 trillion during the first quarter of 2023. The value of directly and indirectly held corporate equities increased $2.4 trillion and the value of real estate decreased $0.6 trillion. Household debt increased 2.2 percent at an annual rate in the first quarter of 2023.
Wealth Management
JUNE 8, 2023
Scott Bills considered himself a Merrill lifer. But as the firm changed and the desire to build a brand and better serve their clients grew stronger, he and his team decided to make the leap to independence, launching Nilsine Partners.
Calculated Risk
JUNE 8, 2023
Today, in the Real Estate Newsletter: The "Home ATM" was Closed in Q1 Excerpt: For Q1 2023, the Net Equity Extraction was minus $30 billion, or -0.60% of Disposable Personal Income (DPI). This is down significantly year-over-year and the first negative reading since Q1 2020. There is a seasonal pattern to MEW, and Q1 is usually the weakest quarter, so it is possible we will see positive MEW this summer.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Wealth Management
JUNE 8, 2023
Lack of stringent regulations in the U.S. real estate industry has allowed criminals, kleptocrats and sanctioned foreign nationals to launder their money through real estate investments.
Calculated Risk
JUNE 8, 2023
The DOL reported : In the week ending June 3, the advance figure for seasonally adjusted initial claims was 261,000 , an increase of 28,000 from the previous week's revised level. This is the highest level for initial claims since October 30, 2021 when it was 264,000. The previous week's level was revised up by 1,000 from 232,000 to 233,000. The 4-week moving average was 237,250, an increase of 7,500 from the previous week's revised average.
A Wealth of Common Sense
JUNE 8, 2023
A reader asks: Does rebalancing essentially lock in losses? I have a robo advised Roth IRA that rebalances seemingly every other day. Will I ever get back to break even? And when do I stop buying the stock market on sale? Diversification is the process of spreading your bets among different asset classes, strategies, geographies and holdings to reduce risk in your portfolio.
Wealth Management
JUNE 8, 2023
Also, Vinay Mehta was appointed CTO at Smarsh, Archer and Brooklyn Investment Group partner to provide AI-powered custom direct indexing and ReachStack launches AI-powered Advisor Sales Intelligence.
Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor
During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.
eMoney Advisor
JUNE 8, 2023
The financial advisor onboarding process sets the tone for the advisor-client relationship. Many would agree it’s crucial in theory, but in practice, a lack of inclusive practices across the industry has made the experience less than ideal for LGBTQ+ clients and nontraditional families. Considering that the LGBTQ+ community is one of the fastest-growing minority segments, now is the time to review and refine your process for welcoming clients into your practice to foster a sense of belongi
Wealth Management
JUNE 8, 2023
The primary objective of a transitional investor is to preserve—rather than build—wealth. To achieve this, investors should take a tempered approach, slowly adjusting the composition of their holdings to support their retirement plans and meet their risk profile.
MarketWatch
JUNE 8, 2023
China and Cuba have reached an agreement in principle for Beijing to set up an electronic eavesdropping facility in the Caribbean island nation, according to a Wall Street Journal report citing unnamed U.S. officials familiar with highly classified documents. China, which has agreed to pay several billion dollars to Cuba in order to build the spy base, would be able to scoop up electronic communications throughout the southeastern U.S., where many military bases are located, and monitor U.S. shi
Wealth Management
JUNE 8, 2023
Since January, Atria has lost five recruiters, including Gary Bender, who was brought on in April 2022 as head of recruiting.
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Digital platforms can provide you with plenty of solutions, yet many are still intimidated by them. It's time to end that worry and embrace what could make a major difference for your bank. Understanding how they work and how to best utilize them for your banks is key toward success. In this article, Biz2X breaks down all things digital platforms, including the many advantages of embracing them.
MarketWatch
JUNE 8, 2023
Shares of Boeing Co. BA rose more than 3% in late trading Thursday, poised to close at their highest since Jan. 18, 2022, when they closed at $225, and on pace for their largest one-day jump since Feb. 7. A close around current levels would also be a new 52-week high for the stock, topping the 2023 closing high set on Feb. 14, when it closed at $218.45.
Wealth Management
JUNE 8, 2023
People with six-figure salaries can reduce their taxes by thousands annually and benefit from a lower cost of living with a move to Florida.
MarketWatch
JUNE 8, 2023
Oil futures traded sharply lower Thursday, with analysts attributing the drop to a report of progress toward a deal between the U.S. and Iran. The two countries are nearing a temporary deal that would offer some sanctions relief in return for Iran reducing uranium enrichment activities, the Middle East Eye, a London-based news site, reported citing two sources with direct knowledge of the talks.
Wealth Management
JUNE 8, 2023
The platform, first launched in April 2022, now features digital client onboarding, an updated dashboard and the ability to exclude more individual stocks.
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All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!
MarketWatch
JUNE 8, 2023
U.S. stocks opened mostly higher Thursday after fresh data showed a rise in weekly jobless claims. The Dow Jones Industrial Average DJIA was down around 0.1% soon after the opening bell, while the S&P 500 SPX rose less than 0.1% and the technology-heavy Nasdaq Composite COMP edged up 0.2%, according to FactSet data, at last check. The Department of Labor said Thursday that initial jobless claims rose in the week ending June 3 to 261,000.
Wealth Management
JUNE 8, 2023
Finding the clarity to design a legacy that reflects the best of who you are and what you stand for.
MarketWatch
JUNE 8, 2023
Shares of International Game Technology PLC IGT were indicated up more than 1% in premarket trading Thursday, after the gaming company said it is evaluating “potential strategic alternatives” for its Global Gaming and PlayDigital businesses. IGT said it is considering a broad range of alternatives, including a sale, merger or spinoff as the company looks to unlock the full value of its portfolio.
Leading Advisor
JUNE 8, 2023
Client, Marketing & Sales Flow, and Practice Management are critical. One will only be sustainable with the other. You must stay in your existing Client,… The post Which is more important? Client, Marketing & Sales Flow or Practice Management? appeared first on Leading Advisor - Simon Reilly.
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Creating a winning digital lending experience requires plenty of focus on the needs of customers and more. Biz2X Chief Product Officer Aaron Traub covers everything from how to create such an experience, areas to hone in on, pitfalls to avoid, and plenty more in this insightful article. Discover how to utilize new technology without alienating existing customers, what to emphasize when working on your platform, and how to utilize the data at your disposal while not becoming overly reliant on it.
MarketWatch
JUNE 8, 2023
DocuSign Inc. DOCU shares rallied in the extended session Thursday after the e-signature company’s quarter and outlook surpassed Wall Street expectations. DocuSign shares surged as much as 14% after hours, following a 2.2% gain to close the regular session at $58.48. The company reported fiscal first-quarter net income of $539,000, or break-even per share, versus a loss of $27.3 million, or 14 cents a share, in the year-ago period.
Wealth Management
JUNE 8, 2023
Franklin Templeton adds more than $1 trillion of assets in its acquisition spree.
MarketWatch
JUNE 8, 2023
U.S. stocks rose Thursday, with the S&P 500 closing above the threshold that marks an exit from a bear market. Stocks were buoyed following a rise in weekly jobless claims that reinforced expectations the Fed will hold rates steady next week, analysts said. The S&P 500 SPX rose around 26 points, or 0.6%, to close just shy of 4,294, according to preliminary figures.
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