Mon.Jan 30, 2023

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Fannie Mae: Mortgage Serious Delinquency Rate Increased Slightly in December

Calculated Risk

Fannie Mae reported that the Single-Family Serious Delinquency increased to 0.65% in December from 0.64% in November. The serious delinquency rate is down from 1.25% in December 2021. This is at the pre-pandemic lows. These are mortgage loans that are "three monthly payments or more past due or in foreclosure". The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.

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Seven States Introduce Legislation Aimed at the Wealthy

Wealth Management

Taxpayers would have to pay annual taxes on asset values rather than income.

Taxes 328
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Housing January 30th Weekly Update: Inventory Decreased 1.4% Week-over-week

Calculated Risk

Altos reports inventory was down 1.4% week-over-week. Usually inventory bottoms in February; in 2022, inventory bottomed in early March. Here are the same week inventory changes for the last five years: 2023: -6.5K 2022: -5.3K 2021: -8.3K 2020: -3.7K 2019: +2.7K Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of January 27th, inventory was at 466 thousand (7-day average), compared to 472 thousand the prior week.

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Simple, But Hard

The Big Picture

We live in an age of contextless slogans. It is the stock in trade of Instagram Influencers, TikTok Investors, and grinding side hustles. It’s a new flavor of b t designed to sell unwitting dupes some garbage product or worse, a destructive half-assed philosophy. In 2020, all you had to do was Hodl Meme stocks; In 2021, it was day trade your way to wealth; before that, just be a Crypto bro, or you can “ Have fun being poor !

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2025 Industry Index: How Top Advisors Are Scaling Smarter (and Faster) This Year

Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste

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14 Must Reads for CRE Investors Today (Jan. 30, 2023)

Wealth Management

The future of restaurants is increasingly focused on take-out and delivery, reports The Wall Street Journal. Remote work has saved Americans less time than workers in other countries, according to a recent research study. These are among today’s must reads from around the commercial real estate industry.

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Tuesday: Case-Shiller House Prices

Calculated Risk

From Matthew Graham at Mortgage News Daily: Busy Week With Big Ticket Data And The Fed Unlike last week, the present example offers multiple scheduled economic reports that have consistent track records of causing market movement. Key examples include both ISM reports, ECI, JOLTS, and of course the jobs report on Friday. The Fed announcement lies smack dab in the middle on Wednesday afternoon where it is all but guaranteed that we'll see another downshift in the pace of rate hikes (25bps). [ 30

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Monday links: termination by email

Abnormal Returns

Markets How worried should investors be about the debt ceiling drama? (theirrelevantinvestor.com) Is the VIX broken? No, but the options market is changing. (ft.com) Strategy What can you assume about stock, bond and cash returns over the long run. (awealthofcommonsense.com) Rubin Miller, "The stock market is brashly indifferent to our opinions." (fortunesandfrictions.com) Why you need a well-articulated investment strategy to ride out tough times.

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Redemption Requests Raise Eyebrows for Non-Traded REITs

Wealth Management

Blackstone has borne the brunt of capital outflows, but ripple effects continue to sweep through the broader sector.

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Adviser links: managing behavior

Abnormal Returns

Podcasts Daniel Crosby talks with Jamie Hopkins, Managing Partner of Wealth Solutions at Carson Group, about understanding our money stories. (standarddeviationspod.com) Michael Kitces talks Jennifer Climo, the CEO and a Senior Advisor for Milestone Financial Planning, about the logistics of merging two practices in just 7 years. (kitces.com) Penn Phillips on four pieces of advice you can ignore this year, or any year.

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U.S. Offices Reach 50% Occupancy for First Time Since Pandemic Hit

Wealth Management

An index of building occupancies in 10 major metro areas increased 0.9 percentage points to 50.4 percent in the week ended Jan. 25, according to security firm Kastle Systems. All of the cities tracked by the company—including San Francisco, Chicago and Austin, Texas—reached return-to-office levels of 40 percent or above, which was also a post-pandemic first.

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Data Talks, CFOs Listen: Why Analytics Are Key To Better Spend Management

Speaker: Claire Grosjean, Global Finance & Operations Executive

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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Lawler: D.R. Horton (DHI) Net Order Price Declined "Roughly" 10% from Peak

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Lawler: D.R. Horton (DHI) Net Order Price Declined "Roughly" 10% from Peak Brief excerpt: From housing economist Tom Lawler: DHI’s average net order price last quarter was actually DOWN 4.1% from the comparable quarter of 2021, and was down 7.9% from the previous quarter. While some of this decline may have been related to the mix of sales, it’s worth noting that the average net order price was down YOY in all but one of the regions DHI repor

Sales 147
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SECURE 2.0 Ushers in a New Era for Retirement Savings

Wealth Management

The new legislation brings many opportunities for financial advisors to rapidly scale their practices.

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Achieving Career Growth With An Ownership Mindset And Finding Where To Create The Most Positive Impact

Nerd's Eye View

From the sudden changes to everyday life brought on by the pandemic to navigating the new world of hybrid or remote work, employees have endured a challenging few years. At the same time, this shock to the system has led many individuals to reflect on where they are in their careers today and where they want to go in the future. But thinking about career goals is not necessarily enough; instead, employees need to take ownership of their careers to achieve the career goals they seek.

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Tennessee Adopts Annuity Best Interest Rule

Wealth Management

The Volunteer state is the 31st to enact a regulation or law based on a model released by the National Association of Insurance Commissioners in 2020.

Insurance 245
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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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The 10 Most Important Things I Tell Clients

Advisor Perspectives

Over the past couple of decades, I’ve told clients many very important things. Most of them are timeless, which is why I find myself saying the same things repeatedly. Here are the top 10, and I’ve saved my most important for last.

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Seven Must Reads for CRE Investors Today (Jan. 31, 2023)

Wealth Management

Multi-Housing News asks whether the self-storage sector has passed its peak for this cycle. The Real Deal reveals New York City’s most valuable commercial building. These are among today’s must reads from around the commercial real estate industry.

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Talk Your Book: The Long and Short of Commodities

A Wealth of Common Sense

Today’s show is brought to you by Teucrium We had Sal Gilbertie, CEO of Teucrium on the show to get an update on global commodity markets and a rundown on Teucrium’s latest fund. On today’s show, we discuss: What is going on with Oil & Gas Thoughts on if inflation peaked or not Supply and demand within agriculture An update on grain exports from Ukraine Teucriums machine learning L/S fund How China affects.

Marketing 100
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Wall Street Is Losing Out to Amateur Buyers in the Housing Slump

Wealth Management

The pattern is unfolding across the Sun Belt but nowhere more than in the Phoenix area, where institutions represented a bigger share of home purchases last year than in any other major US market, according to real estate data firm SFR Analytics. Today, Phoenix illustrates some of the advantages of the old, slow, analog ways.

Marketing 242
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How to Avoid Pitfalls In Automation: Keep Humans In the Loop

Speaker: Erroll Amacker

Automation is transforming finance but without strong financial oversight it can introduce more risk than reward. From missed discrepancies to strained vendor relationships, accounts payable automation needs a human touch to deliver lasting value. This session is your playbook to get automation right. We’ll explore how to balance speed with control, boost decision-making through human-machine collaboration, and unlock ROI with fewer errors, stronger fraud prevention, and smoother operations.

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$5.4 billion in COVID aid may have gone to businesses using questionable Social Security numbers: report

MarketWatch

The U.S. government may have awarded roughly $5.4 billion in COVID-19 aid to small businesses with potentially ineligible Social Security numbers, said a Washington Post report on Monday citing a new estimate from the Pandemic Response Accountability Committee, or PRAC. The estimate comes as the Republican-run House Oversight Committee plans to hold a hearing on Wednesday titled "Federal Pandemic Spending: A Prescription for Waste, Fraud and Abuse.

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Wall Street Giants Spy Opportunities Rising From FTX Ashes

Wealth Management

From BNY Mellon to Fidelity and BlackRock, members of the Wall Street establishment are planning for a future in digital-assets.

Assets 230
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How the Greatest Female Poker Player Reduces Risk

Advisor Perspectives

Annie Duke’s latest and best of her books, Quit, is on making decisions under uncertainty.

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Tiny Crypto ETF’s 100% Surge Puts It Atop Best-Performers Race

Wealth Management

It’s a promising start for ETFs tracking companies linked to digital assets after a brutal 2022, when such funds were among the year’s biggest losers.

Assets 130
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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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: Carnival sees record January booking week for Holland America Line

MarketWatch

Carnival Corp. CCLUK:CCL said Friday that its premium cruise line Holland America Line saw record bookings for the third week of January in a good early sign of demand during the “Wave season.” The cruise operator said bookings for the week ended Jan. 20 were 20% above bookings seen in the same week of pre-pandemic 2019, and that 25% of the bookings were for cruises in 2024.

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Economists Have Failed Middle-Class Americans

Wealth Management

Without anyone paying much notice, our collective overreliance on wage data has had the perverse effect of allowing prices to rise even as earnings remained stagnant.

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Political Beta

Alpha Architect

This example of research on political beta is an example of applying portfolio theory to problems associated with global politics. Political Beta was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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U.S. stocks end lower, Dow snaps six-day win streak as Fed decision looms

MarketWatch

U.S. stocks ended lower Monday, with the Dow Jones Industrial Average snapping a six-day win streak, as investors brace for the outcome of the Federal Reserve's two-day policy meeting in a busy week for company earnings reports. The Dow closed 0.8% lower, while the S&P 500 fell 1.3% and the technology-laden Nasdaq Composite dropped 2%, according to preliminary data from FactSet.

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Stop Falling Short When It Matters Most—The Elite Advisor’s Playbook to Success

Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?

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The Big Four: Real Personal Income in December

Advisor Perspectives

Personal income ( excluding transfer receipts ) in December rose 0.27% and is up 5.3% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) MoM was up 0.21% and was up 0.3% year-over-year.

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: GE HealthCare stock rises after reporting first results after GE spinoff, with revenue rising 8% but profit slipping

MarketWatch

Shares of GE HealthCare GEHC rose 1.3% in premarket trading Monday, reversing an earlier loss, after the medical technology and pharmaceutical diagnostics company reported its first results as a public company, with fourth-quarter profit falling from a year ago while revenue rose. The company, which completed its spinoff from General Electric Co. GE on Jan. 3, said net income slipped 1.8% to $554 million, as earning per share from continuing operations fell to $1.21 from $1.24.

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[cdata[ How to Save For A Down Payment on Your First Home ]]

oXYGen Financial

![CDATA[ Saving for a home can be a daunting task. With interest rates up, putting more money down is a huge advantage to keep you monthly payments down. Putting a minimum of 20% down is a good idea because it will force you to save more before pulling the trigger on a purchase. Plus by putting 20% down you avoid paying the PMI (private mortgage insurance) required for smaller down payments.

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: U.S. stocks open lower as investors brace for Fed meeting, earnings deluge

MarketWatch

U.S. stocks opened lower on Monday as traders took profits ahead of a meeting of the Federal Reserve where the central bank is expected to hike interest rates by 25 basis points. The S&P 500 SPX fell by 23 points, or 0.6%, to 4,048. The Nasdaq Composite COMP shed 103 points, or 0.9%, to 11,518. The Dow Jones Industrial Average DJIA retreated by 75 points, or 0.2%, to 33,903.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.