The Big Picture
SEPTEMBER 2, 2022
First Half 2022, NBER Edition. The debate between the official NBER determination of a recession and the 2Qs approach has been endlessly discussed. Rather than spill more pixels on this, I will instead direct you to the Menzie Chin chart above (hat tip Invictus ). You can see why the NBER does not rely on GDP (pink line) alone; GDP was slightly negative, while Manufacturing and Trade Sales were more negative.
Abnormal Returns
SEPTEMBER 2, 2022
Strategy Investors can now get non-zero yields on risk-free assets. (awealthofcommonsense.com) Investing lessons learned from Julian Robertson. (ft.com) Companies Starbucks ($SBUX) has a new CEO. (marketwatch.com) Shopify ($SHOP) is still rightsizing its workforce. (theglobeandmail.com) Micron ($MU) is building a big new semiconductor plant in Idaho.
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The Big Picture
SEPTEMBER 2, 2022
The unofficial end of Summer is here. Labor Day may just be a 3 (or 4) day weekend to you but in the rosy glow of nostalgia, it marked when the freedom of Summer came to a bittersweet close, and the regimented structure of school soon followed. As investors, we understand the impact of seasonality (overstated though it may be) and the return of participants to the market in full. we see this in liquidity and flows as well as more people in the office and the city (though who knows what the post-
Nerd's Eye View
SEPTEMBER 2, 2022
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that, in its newly released draft strategic plan for 2022-2026, the SEC has indicated that the enforcement of Regulation Best Interest’s requirement that brokers act in their clients’ best interests when making an investment recommendation will be a priority going forward.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
The Big Picture
SEPTEMBER 2, 2022
The Cadillac Series 40-62 was produced by Cadillac from 1940 through 1964. It was used to introduce the Cadillac Coupe de Ville (and Eldorado) which started out as special appearance packages that were later placed into production. The post-war United States had seen a long run of economic expansion, with the expansion of suburbia and a build-out of the US highway system.
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The Reformed Broker
SEPTEMBER 2, 2022
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, JC Parets, and Downtown Josh Brown discuss JC’s latest treasure trove of charts, Bitcoin as a store of value, what Buffett has been buying, and much more! Bonus: Michael reacts to breaking NBA news! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
Calculated Risk
SEPTEMBER 2, 2022
From the BLS : Total nonfarm payroll employment increased by 315,000 in August, and the unemployment rate rose to 3.7 percent , the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, health care, and retail trade. The change in total nonfarm payroll employment for June was revised down by 105,000, from +398,000 to +293,000, and the change for July was revised down by 2,000, from +528,000 to +526,000.
Wealth Management
SEPTEMBER 2, 2022
Tapping into Amazon's cloud service, the wealthtech company will slow its acquisition pace to focus on integrating the multiple businesses—and data—into one unified platform, executives say.
Your Richest Life
SEPTEMBER 2, 2022
The Biden Administration’s Student Loan Debt Relief Plan plan can forgive up to $20,000 for qualified borrowers. You might be wondering if any of that forgiveness applies to your loans, and what happens next. . Here’s an overview of the plan, who qualifies, and what the next steps are: Is the repayment pause extended? Yes. The Biden administration has extended the repayments pause for one last time, pushing the next payment due date to January 2023.
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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
SEPTEMBER 2, 2022
More technology companies are pulling manufacturing facilities out of China, reports The New York Times. Amazon took solar panels off its fulfillment facilities last year after a slew of malfunctions, according to CNBC. These are among today’s must reads from around the commercial real estate industry.
Calculated Risk
SEPTEMBER 2, 2022
Wards Auto released their estimate of light vehicle sales for August. Wards Auto estimates sales of 13.18 million SAAR in August 2022 (Seasonally Adjusted Annual Rate), down 1.1% from the July sales rate, and up 0.7% from August 2021. Click on graph for larger image. This graph shows light vehicle sales since 2006 from the BEA (blue) and Wards Auto's estimate for August (red).
Wealth Management
SEPTEMBER 2, 2022
Twelve financial advisors describe how their first paying work taught them enduring lessons for professional success.
Walkner Condon Financial Advisors
SEPTEMBER 2, 2022
There are many types of accounts for individuals to employ as part of their saving and investment plan – IRAs, HSAs, FSAs, 529 plans, and more. However, there is one account that we haven’t covered before and doesn’t get a lot of attention when considering the alphabet soup of account types – an ABLE account. And while ABLE accounts can be a bit more complex for Wisconsin residents, they offer significant tax benefits for individuals with disabilities and their families.
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.
Wealth Management
SEPTEMBER 2, 2022
Wells Fargo improperly terminated a senior manager that voiced concerns regarding potential financial law violations, including wire fraud.
Calculated Risk
SEPTEMBER 2, 2022
The BEA released their estimate of vehicle sales for August this morning. This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the August 2022 seasonally adjusted annual sales rate (SAAR). Heavy truck sales really collapsed during the great recession, falling to a low of 180 thousand SAAR in May 2009. Then heavy truck sales increased to a new all-time high of 570 thousand SAAR in April 2019.
Covisum
SEPTEMBER 2, 2022
Roth conversions are a great way to ensure clients aren't hit with a hefty tax bill in retirement ; however, sometimes, clients don't have any non-qualified or non-IRA money to pay the immediate taxes on the conversion. So, are Roth conversions still a smart tax strategy for those situations? Absolutely!
oXYGen Financial
SEPTEMBER 2, 2022
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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.
Mullooly Asset Management
SEPTEMBER 2, 2022
In this week’s podcast, Tim and Brendan begin by discussing how investors reacted to the Fed’s comments last week. The conversation turns into a discussion about who is actually making changes to their retirement investments this year. The guys wind up shining a light on the world of alternative investments and how they aren’t always […] In this week’s podcast, Tim and Brendan begin by discussing how investors reacted to the Fed’s comments last week.
Calculated Risk
SEPTEMBER 2, 2022
Friday: • At 8:30 AM ET, Employment Report for August. The consensus is for 280,000 jobs added, and for the unemployment rate to be unchanged at 3.5%. On COVID (focus on hospitalizations and deaths): COVID Metrics Now Week Ago Goal New Cases per Day 2 85,761 91,773 ?5,000 1 Hospitalized 2 31,114 33,384 ?3,000 1 Deaths per Day 2 403 426 ?50 1 1 my goals to stop daily posts, 2 7-day average for Cases, Currently Hospitalized, and Deaths ??
Elevating Your Business
SEPTEMBER 2, 2022
Your mindset is an extremely important aspect of your business. The excerpt below is called Desire and is from Think and Grow Rich Action Plan by Napoleon Hill. …desiring riches with a state of mind that becomes an obsession, then planning definite ways to acquire those rights through goal setting and backing those plans with. The post Mindset and the Importance of Desire In Business appeared first on Female Financial Advisor Coach.
Million Dollar Round Table (MDRT)
SEPTEMBER 2, 2022
By Adam Thomas Rex, CFP, AIF When we think about gifts for clients, we notice there is a tendency toward repetition: “Hey, this is exactly what their dentist is doing for them.” We have been on a mission to come up with unique ideas of how we connect with our clients from a gift standpoint. T here is a lot associated with it, such as understanding that there are certain amounts of gifts you’re allowed to give before it has to be reported and the importance of keeping a gift log.
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Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!
Calculated Risk
SEPTEMBER 2, 2022
On Friday at 8:30 AM ET, the BLS will release the employment report for August. The consensus is for 280,000 jobs added, and for the unemployment rate to be unchanged at 3.5%. There were 528,000 jobs added in July, and the unemployment rate was at 3.5%. Click on graph for larger image. • First, as of July there 32 thousand more jobs than in February 2020 (the month before the pandemic).
Alpha Architect
SEPTEMBER 2, 2022
Current Exposures: No exposure to domestic equities.No exposure to international equities.No exposure to REITs.Full exposure to commodities.No exposure to intermediate-term bonds. DIY Trend-Following Allocations: September 2022 was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Wealth Management
SEPTEMBER 2, 2022
Their ability to move markets is being offset by increasingly bearish institutional investors taking cues from the Federal Reserve.
Random Roger's Retirement Planning
SEPTEMBER 2, 2022
Jason Buck from Mutiny Funds sat for Meb Faber's podcast. We've mentioned Jason a couple of times this summer, most prominently in this post about a portfolio concept they came up with called The Cockroach Portfolio. The podcast was wide ranging and also hit on a couple of more nuanced points about Cockroach. One point that resonated, because I've been making a similar point pretty much since I started writing, was about investment professionals like RIAs or fund managers not investing in stocks
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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.
Wealth Management
SEPTEMBER 2, 2022
At least half of the recipients will be from populations underrepresented in the profession.
Investing Caffeine
SEPTEMBER 2, 2022
After gorging on +9% gains in the stock market (S&P 500 index) during July, investors suffered some heartburn pain in August (-4%). The indigestion really kicked in after Federal Reserve Chairman, Jerome Powell, gave a frank and candid outlook during his annual monetary policy speech at Jackson Hole, Wyoming. His key takeaways were that further interest rate increases are necessary to control and bring down inflation.
Wealth Management
SEPTEMBER 2, 2022
There are certain universal qualities that help us thrive in this ever-changing environment.
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