Fri.Oct 13, 2023

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National Association of Realtors Is Imploding

The Big Picture

My buddy Jonathan Miller does not hesitate to call out the weasels who represent those who work in his industry: NAR Proves That Trade Groups Aren’t Infallible With an appalling culture of secrecy maintained by wildly overpaid executives (I believe their CEO is paid close to $3 million per year), NAR seems to be imploding right now. These three prominent real estate firms are backing away from the management cesspool that has severely damaged the National Association of Realtors (NAR) brand.

Numbers 300
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The Rise of High Net Worth Investors in Pre-IPO Securities

Wealth Management

Why have wealthy investors surged as the leading buy-side participants in this market segment?

Marketing 299
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Realtor.com Reports Weekly Active Inventory Down 2.4% YoY; New Listings Down 3.2% YoY

Calculated Risk

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Sabrina Speianu: Weekly Housing Trends View — Data Week Ending Oct 7, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 2.4%. During the past week, we observed the 16th successive drop in the number of homes available for sale when compared to the previous year.

Sales 288
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The Rising Number of High Net Worth Investors in Pre-IPO Securities

Wealth Management

Why have wealthy investors surged as the leading buy-side participants in this market segment?

Numbers 299
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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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Podcast links: deepening deepfakes

Abnormal Returns

The biz The bots have come for podcasting. (semafor.com) Rogue AI voices are already out in the wild. (nytimes.com) We don't have great defenses for deepfakes. (variety.com) Companies Benjamin Gilbert and David Rosenthal talk about the latest iteration of Nvidia ($NVDA). (acquired.fm) Logan Bartlett talks AI with Dario Amodei, co-founder and CEO of Anthropic.

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RIA Roundup: Sunshine Private Wealth Joins Steward Partners from Hightower

Wealth Management

Steward Partners adds the first team to its IAR-only channel, Allworth Financial names a new CEO and other news from Wealth Enhancement Group, EP Wealth Advisors, Kestra PWS, Gaddis Premier Wealth Advisors and Pitcairn.

More Trending

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Ten More Advisors Exit Goldman Sachs PFM

Wealth Management

The latest defections include three advisors and an analyst who joined Kestra’s Private Wealth Services unit.

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Q3 GDP Tracking: High 3s

Calculated Risk

From BofA: Overall, the data flow since our last weekly pushed up our 3Q US GDP tracking estimate from 3.7% to 3.8% q/q saar. [Oct 13th estimate] emphasis added From Goldman: We left our Q3 GDP tracking estimate unchanged at +3.7% (qoq ar) and our domestic final sales growth forecast also unchanged at +2.4%. [Oct 10th estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 5.1 percent on October 10

Sales 162
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Bonds Are Becoming More Volatile Than Stocks by Most on Record

Wealth Management

“Volatility is off the chart,” said Ben Emons, a senior portfolio manager at NewEdge Wealth. “People are trading bonds like stocks.

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The New Kings of Wall Street

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jan Van Eck, and Andrew Beer discuss the bond market, the national debt, private-credit, alts, managed futures, the Sam Bankman-Fried trial, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods! Listen here: Apple podcasts Spotify podcasts Google podcasts Everywhere else.

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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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Hotels: Occupancy Rate decreased 0.2% Year-over-year

Calculated Risk

From STR: U.S. hotel results for week ending 7 October U.S. hotel performance increased from the previous week, and year-over-year comparisons were mostly positive, according to CoStar’s latest data through 7 October. 1-7 October 2023 (percentage change from comparable week in 2022): • Occupancy: 67.8% (-0.2%) • Average daily rate (ADR): US$163.19 (+5.4%) • Revenue per available room (RevPAR): US$110.68 (+5.2%) emphasis added The following graph shows the seasonal pattern for the hotel occupancy

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The Worst Bond Bear Market in History

A Wealth of Common Sense

In 1950 long-term U.S. government bonds yielded a little more than 2%. By the end of that decade they would hit 4.5%. Yields jumped to 6.9% by the end of the 1960s and 10.1% by the end of the inflationary 1970s. Then they skyrocketed in the early-1980s, going from just over 10% at the end of 1979 to nearly 15% by the fall of 1981. In a little over 30 years, bond yields went from 2% to 15%.

Marketing 133
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3rd Look at Local Housing Markets in September

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: 3rd Look at Local Housing Markets in September A brief excerpt: Note: The National Association of Realtors (NAR) is scheduled to release September existing home sales next week on Thursday, October 19th, at 10:00 AM ET. The consensus is the NAR will report sales of 3.94 million SAAR, down from 4.04 million in August.

Marketing 147
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Trend-Following Filters – Part 7

Alpha Architect

This article examines four digital filters commonly used for trend-following: moving average linear weighted moving average exponential smoothing time series momentum Trend-Following Filters – Part 7 was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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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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Middle-Class Hourly Wages as of September 2023

Advisor Perspectives

I've updated this series to include the September release of the consumer price index as the deflator and the monthly employment update. The latest hypothetical real (inflation-adjusted) annual earnings are at $49,111, down 8.2% from over 50 years ago. Hourly earnings are below their all-time high after adjusting for inflation.

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Free-Money Era Ends With Worst Bond Sell-off In U.S. History

Validea

The losses sustained by the U.S. bond market over the last few years are the worst in the nation’s recorded history, according to research from strategists at Bank of America that is cited in an article in Bloomberg. While some of the data from 200-plus years ago may be less than accurate, it’s still a startling statistic, and drives home what a significant impact inflation and high interest rates had on the bond market.

Banking 105
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S&P 500 Snapshot: 2nd Straight Week in the Green

Advisor Perspectives

The S&P 500 posted gains for a second straight week despite weak performance during the latter part of the week. The index is currently up 13.17% year to date and is 9.77% below its record close from January 3, 2022.

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High FII Holding Stocks Under Rs 100 To Add To Your Watchlist

Trade Brains

High FII holding Stocks Under Rs 100 : When it comes to investing in the stock market, we always try to find the most intricate balance between affordability & sustainability. We are always on the lookout for Companies that have the highest growth and the best management. At the same time, we also hope to find them at throw away prices, so we can enter in its journey, at the earliest.

Banking 105
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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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Michigan Consumer Sentiment Falls Sharply Amid Inflation Concerns

Advisor Perspectives

Consumer sentiment fell sharply this month amid growing inflation concerns. The October preliminary report for the Michigan Consumer Sentiment Index came in at 63.0, down 5.1 (-7.5%) from the September final. This morning's reading was below the forecast of 67.2.

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Retire Early, Live Slow: Navigating the Transition to a Leisurely Lifestyle

Gen Y Planning

The traditional view of what retirement should be is quickly fading in the rearview mirror as Gen X and Baby Boomers are flipping the script on what your post-career lifestyle can look like. An increasing percentage of pre-retirees are now planning to retire early (at age 62 or earlier), and it’s becoming more common to see people opting for an alternate lifestyle once they do take the retirement plunge.

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Options Are the Hottest Trade on Wall Street

Advisor Perspectives

Crypto may have grabbed headlines last year, but the talk on Wall Street these days is all about options.

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Higher for longer settles in

SEI

Jim Smigiel, SEI's Chief Investment Officer, discusses the third quarter industry report.

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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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RecessionAlert Weekly Leading Economic Index

Advisor Perspectives

The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of September 29th, the index was at 13.184, up 1.582 from the previous week.

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19 Of The Best Night Shift Jobs To Earn Extra Cash

Clever Girl Finance

Are you fed up with the 9 to 5 grind? Do you need to earn some extra cash or find a job that fits around your daily commitments? Night shift jobs may be the solution you’re looking for, and the good news is there are lots of opportunities out there and we’ve got several to share. So keep reading! Table of contents Who are night shift jobs suitable for?

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US Consumer Inflation Expectations Jump to a Five-Month High

Advisor Perspectives

US consumers’ year-ahead inflation expectations rose sharply in early October, driving a steep deterioration in Americans' views of their finances as well as sentiment.

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The Most Exciting Market? Japan

Validea

With stocks up 20% this year, offering the highest returns from any major global market, as well as a significant shot of confidence from Warren Buffett’s spring visit, Japan’s stock market has been wildly robust. But the Japanese market’s success this year could also be the result of the yen collapsing, contends an article in The Wall Street Journal , and indeed Japanese stocks have followed the same trajectory as the S&P 500 this year.

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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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Q3 2023 Earnings Preview: Do You Believe in Bad Omens?

Advisor Perspectives

Breaking a mirror, walking under a ladder, and a black cat crossing your path have all been seen as bad omens.

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How To Sell Printables On Etsy In 5 Steps

Clever Girl Finance

Looking for a way to make extra cash? Well, finding out how to sell printables on Etsy is a solid move. Not only is this a great side hustle, but it allows you the opportunity to be creative, too. Keep reading to learn more about this income idea! Table of contents What are printables, anyway? Can you make an income selling printables on Etsy? 5 Simple steps to selling printables on Etsy Expert tip: Offer seasonal promotions on your Etsy printables Is it worth selling printables on Etsy?

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Fed Actions and the Nervous Reactions

Advisor Perspectives

After three quarters of improving economic outlook amid increasing expectations for a painless decline in global inflation, markets and pundits alike have become less optimistic about a soft landing as they reacted to frustration from the Fed.

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Facts Vs Feelings Take 5 – War, Oil and What’s Next

Carson Wealth

October has had some of the market’s biggest crashes. Will that happen this year? Carson Group’s Chief Market Strategist Ryan Detrick and VP, Global Macro Strategist Sonu Varghese share their takes on this and more. Highlights include: The economy is doing better than expected We’ve had some seasonal weakness, but that’s normal Lower inflation could be the spark that sets off a fourth-quarter rally Looking for more investment insights and market analysis?

Economy 52
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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.