The Reformed Broker
JUNE 9, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jill Schlesinger, and Downtown Josh Brown discuss whether or not the bear market is over, the chances of Jamie Dimon running for president, Apple’s WWDC product unveil, the accredited investor rule, Artificial Intelligence, the state of the economy, and much more!
Nerd's Eye View
JUNE 9, 2023
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the House has passed legislation that would expand the definition of who qualifies as an accredited investor eligible to invest in certain private investments to include those who pass an exam designed by the SEC, and those with certain licenses or educational backgrounds, including financial advisors.
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Abnormal Returns
JUNE 9, 2023
Strategy Periodic rebalancing is a part of any comprehensive investment plan. (awealthofcommonsense.com) Thematic investing appeals to investors' worst instincts. (morningstar.com) Crypto The Three Arrows Capital founders are doing just fine, thank you very much. (nytimes.com) Robinhood ($HOOD) is ending support for Solana, Polygon and Cardano. (theblock.co) Crypto.com will shut down its institutional exchange service for US customers.
A Wealth of Common Sense
JUNE 9, 2023
Agriculture was invented approximately 10,000 years ago. It’s estimated there were roughly 5 million people on Earth at the time. This shift completely changed our species from nomadic hunter-gathers which allowed humans to live in larger and larger groups of people. The population grew slowly but steadily from there reaching 1 billion people by the year 1800.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Abnormal Returns
JUNE 9, 2023
The biz 20 years on, how has podcasting changed the world? (theguardian.com) Spotify ($SPOT) is reorganizing its podcasting unit. (variety.com) And is trying to expand the audience for its exclusive podcasts. (bloomberg.com) How to use Descript to edit audio. (fastcompany.com) Companies Benjamin Gilbert and David Rosenthal do a deep live into the history of Lockheed Martin.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Advisor Perspectives
JUNE 9, 2023
Despite market headwinds, investors remain bullish on real estate. As traditional sectors, like office and retail, continue to underperform, farmland presents an opportunity for investors seeking capital preservation and downside protection.
Wealth Management
JUNE 9, 2023
Cetera announced its first non-hybrid RIA acquisition this week, while Hightower and Wealthspire both added a billion dollars in assets and Mercer, Kestra and tru Independence all announced deals.
Calculated Risk
JUNE 9, 2023
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Due to changes at the CDC, weekly cases are no longer updated. After the first few weeks, the pandemic low for weekly deaths had been the week of July 7, 2021, at 1,690 deaths (until recently). For COVID hospitalizations, the previous low was 9,821 (until five weeks ago).
Nationwide Financial
JUNE 9, 2023
Key Takeaways: The last two years have been marked by the highest inflation rates in decades; your clients saving for retirement can use this to their advantage through short-term investments, tax deferral, and insurance products offering better benefits. Fixed annuities can help your clients maximize those higher rates while also deferring taxes, allowing them to take advantage of potentially lower retirement tax rates in the future.
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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.
Integrity Financial Planning
JUNE 9, 2023
As the world becomes more digitized, many people may believe that libraries are becoming a thing of the past. However, this couldn’t be further from the truth. Libraries are still essential for providing access to information, learning, and community building. In fact, libraries are particularly important for retirees who seek to enrich their lives through reading and learning.
Wealth Management
JUNE 9, 2023
Women RIAs have the opportunity to create thriving, flexible workplaces that provide essential support for working moms and caregivers.
NAIFA Advisor Today
JUNE 9, 2023
Do you know any college students interested in the insurance and financial services industry? NAIFA's Future Leaders Program is a unique opportunity for college students and recent graduates to get a glimpse into careers in insurance and financial services. Future Leaders was created to raise awareness about opportunities in the industry and invite more students into the profession.
Wealth Management
JUNE 9, 2023
Colin Falls, the president and CEO of GeoWealth, details why RIAs are desiring more flexibility and control with their technology solutions.
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.
MarketWatch
JUNE 9, 2023
Biogen Inc. BIIB shares rallied in the extended session late Friday following a full-day halt after the biotech company received a recommendation from a Food and Drug Administration advisory committee to approve an Alzheimer’s treatment it makes with Eisai Co. ESALF Biogen shares rallied as much as 9% after hours, after spending the regular session halted at $308.88.
Advisor Perspectives
JUNE 9, 2023
Pop Quiz! Without recourse to your text, your notes, or a Google search, what line item is the largest asset in Uncle Sam's financial accounts? A) U.S.
Alpha Architect
JUNE 9, 2023
In this article we examine the research about how artificial intelligence influences stock returns by analyzing a measurement of firm-level AI exposures called Alness. Novel Measure of Firm-Level AI exposures was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Advisor Perspectives
JUNE 9, 2023
I wrote this article in 2030 after I interviewed several retirees whose income plans were designed by ChatRET.
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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.
The Irrelevant Investor
JUNE 9, 2023
Today’s Compound and Friends is brought to you by Wisdom Tree: Thanks to Wisdom Tree for sponsoring this episode. For important information including objectives, risks, and performance visit wisdomtree.com/dgr On today’s show, we discuss: Is the Bear Market Over? It Depends. BMO’s Brian Belski explains why his firm raised S&P 500 price target to 4,550 Goldman Sachs: Stocks Cheap because of AI Jamie Dimon F.
Wealth Management
JUNE 9, 2023
More than $1 billion has flooded into the $35 billion Invesco S&P 500 Equal Weight ETF (ticker RSP).
MarketWatch
JUNE 9, 2023
Shares of some electric-vehicle charging companies were moving lower in Friday’s premarket trading after Tesla Inc. TSLA said it would open its charging network to General Motors Co. GM ChargePoint Holdings Inc. shares CHPT were down more than 3% premarket, while EVgo Inc. shares EVGO were down more than 4%. Blink Charging Co.’s stock BLNK was down 0.5%.
Wealth Management
JUNE 9, 2023
A new board has been created which is independent from the parent company.
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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 9, 2023
Carvana Co.’s stock CVNA is up 1% Friday, and is one of the most heavily traded in the premarket, after the stock jumped 56% in its previous session on a hiked outlook from the car seller. William Blair analyst Sharon Zackfia on Friday reiterated a market perform rating on Carvana and said the company’s progress is encouraging, but she’s seeking improved visibility on liquidity and free cash flow generation before any potential stock upgrade.
Advisor Perspectives
JUNE 9, 2023
Spare a thought for the other AT1 crowd — not investors in Additional Tier 1 securities extinguished in Credit Suisse Group AG’s rescue, but shareholders in Aroundtown SA, the Frankfurt-listed property firm with the same stock-market ticker.
MarketWatch
JUNE 9, 2023
BMO Capital Markets analyst Keith Bachman lifted his price target on shares of Microsoft Corp. MSFT to $385 from $347 Friday, writing that he was “increasingly confident” that the technology giant was cementing itself as a leader in artificial intelligence. “While we believe that MSFT remains in the early innings of its AI journey, we are encouraged by the company’s pace of development,” he wrote in a note to clients.
Calculated Risk
JUNE 9, 2023
From STR: STR: U.S. hotel results for week ending 3 June As expected with the Memorial Day holiday, U.S. hotel performance decreased from the previous week, according to STR‘s latest data through 3 June. 28 May through 3 June 2023 (percentage change from comparable week in 2022): • Occupancy: 61.6% (-2.3%) • Average daily rate (ADR): US$150.28 (+1.3%) • Revenue per available room (RevPAR): US$92.55 (-1.0%) emphasis added The following graph shows the seasonal pattern for the hotel occupancy rate
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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 9, 2023
New York Attorney General Letitia James announced Friday the final approval of $17.3 billion in national settlement agreements with drug-store chains CVS Health Corp. CVS and Walgreens Boots Alliance Inc. WBA, and with drug makers Teva Pharmaceutical Industries Ltd. TEVA and AbbVie Inc.’s ABBV Allergan. The agreements include more than $1 billion for the state of New York.
Wealth Management
JUNE 9, 2023
ETFs aren’t supposed to move the market, just trade in line with the underlying asset.
MarketWatch
JUNE 9, 2023
The U.S.-listed hares of Advanced Health Intelligence Ltd. AHI blasted nearly six-fold higher on massive volume in midday trading Friday, despite no news released by the Australia-based provider of personalized health care services to smartphone users. The stock soared 474.6% toward the highest close since February 2022. Trading volume exploded to an already-record 82.96 million shares, compared with the full-day average over the past 30 days of about 65,200 shares.
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