Calculated Risk
OCTOBER 27, 2023
Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through September 2023. CPI Shelter was up 7.1% year-over-year in September, down from 7.2% in August, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 7.2% YoY in September , down from 7.4% in August, and down from the cycle peak of 8.3% in April 2023.
Wealth Management
OCTOBER 27, 2023
Answers to some of advisors' most frequently asked questioned about this powerful role.
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Abnormal Returns
OCTOBER 27, 2023
Bonds The bond market is doing the Fed's work for it. (ft.com) The bond market touches just about everything. (nytimes.com) Strategy A big way how the stock market has changed over time. (awealthofcommonsense.com) Successful stock investing is about knowing when you are wrong as early as possible. (microcapclub.com) Hedge funds aren't the cure for market volatility.
Wealth Management
OCTOBER 27, 2023
Responding to advisor feedback in the wake of the TD Ameritrade transition, Schwab detailed a variety of updates to its custodial platform at IMPACT this week—and promised more on the way.
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Nerd's Eye View
OCTOBER 27, 2023
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the shift in financial advice from pure investment management to comprehensive financial planning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity of their financial goals.
Wealth Management
OCTOBER 27, 2023
Dave Gray, Fidelity's head of workplace retirement products and platforms discusses blockchain, the Portability Transfer Network and more.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
OCTOBER 27, 2023
Amy Flourry, director of operations at Rehmann Financial, gives an honest assessment of the tech tools the $3 billion AUM RIA is using to drive business.
Calculated Risk
OCTOBER 27, 2023
The BEA released the Personal Income and Outlays report for September: Personal income increased $77.8 billion (0.3 percent at a monthly rate) in September , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes, increased $56.1 billion (0.3 percent) and personal consumption expenditures (PCE) increased $138.7 billion (0.7 percent).
Wealth Management
OCTOBER 27, 2023
Advisors at Nitrogen's Fearless Investing Conference discuss empowering clients through education, confidence-building, and clarity in decision-making.
Calculated Risk
OCTOBER 27, 2023
Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single-Family Mortgage Delinquency Rate Mostly Unchanged in September Brief excerpt: I’ve argued that there would not be a huge wave of single-family foreclosures this cycle since lending standards have been solid and most homeowners have substantial equity. That means we will not see cascading price declines like following the housing bubble.
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.
Wealth Management
OCTOBER 27, 2023
J.P. Morgan Securities is seeking a TRO against Daniel Sutton, arguing he broke non-solicitation agreements when he resigned and moved to Commonwealth.
The Reformed Broker
OCTOBER 27, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Rick Brink, and Downtown Josh Brown discuss inflation, what constitutes a recession, monetary policy, going long duration, the biggest risks to the market, and more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
Wealth Management
OCTOBER 27, 2023
Advisors at Nitrogen's Fearless Investing Conference describe how they're helping their clients invest fearlessly.
The Big Picture
OCTOBER 27, 2023
Since the Great Financial Crisis in 2008-09, the income portion of portfolios has been almost an afterthought. Your checking and savings accounts earned less than 30bps; so too did the cash sitting in your brokerage account. Equities did well, averaging ~14% during the 2010s, but Bonds, not so much. For the decade1 from 2012 to 2022, 10-year Treasuries yielded less than 3% and averaged closer to 2%.
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.
Wealth Management
OCTOBER 27, 2023
Advisors at Nitrogen's Fearless Investing Conference describe how they're helping their clients invest fearlessly.
A Wealth of Common Sense
OCTOBER 27, 2023
Here’s something Henry Blodget wrote about notorious stock market bear John Hussman: Every historical indicator Hussman is looking at is suggesting that the stock market is wildly overvalued and headed for a period of lousy returns. How lousy? John Hussman thinks there’s a good chance the stock market will soon crash 40-50 percent. And even if the market doesn’t crash, Hussman thinks stocks are priced to.
Wealth Management
OCTOBER 27, 2023
Advisors at Nitrogen's Fearless Investing Conference describe how they're helping their clients invest fearlessly.
Alpha Architect
OCTOBER 27, 2023
Idiosyncratic volatility (IVOL) is the volatility of a security that cannot be explained by overall market volatility—it is the risk unique to a particular security. IVOL contrasts with systematic risk, which is the risk that affects all securities in a market (such as changes in interest rates or inflation) and, therefore cannot be diversified away.
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.
Wealth Management
OCTOBER 27, 2023
Advisors at Nitrogen's Fearless Investing Conference describe how they're helping their clients invest fearlessly.
The Irrelevant Investor
OCTOBER 27, 2023
You cannot be online and think things are getting better. Let me show you one example. This was on the front page of The Wall Street Journal yesterday. Instead of a headline like “U.S. Economy Grows at Fastest Pace in Two Years,” they wrote: “U.S. Economy’s Summer Surge May Not Last” And below it, “There are warning signs underlying the eye-popping numbers.” Charlie Munger once.
Wealth Management
OCTOBER 27, 2023
Advisors at Nitrogen's Fearless Investing Conference describe how they're helping their clients invest fearlessly.
Advisor Perspectives
OCTOBER 27, 2023
Personal income ( excluding transfer receipts ) rose 0.4% in September and is up 5.1% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.1% month-over-month and 1.6% year-over-year.
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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.
Wealth Management
OCTOBER 27, 2023
Advisors at Nitrogen's Fearless Investing Conference describe how they're helping their clients invest fearlessly.
Trade Brains
OCTOBER 27, 2023
Even if you’re not a big cricket fan, there’s something about it that we all can’t resist, especially during the World Cup. Be it the local barber shop, a restaurant, a pub, or even at your office, you’ll find a way to watch the match. Cricket is more than just a sport; it’s an emotion of love, unity, pride and joy. So, today, let’s talk about the journey of India hosting its first World Cup in 1987— an old story that everyone deserves to know.
Wealth Management
OCTOBER 27, 2023
Fidelity has applied for a government waiver that would allow its actively managed mutual funds to also issue a separate class of ETF shares.
Advisor Perspectives
OCTOBER 27, 2023
With the release of September's report on personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. At two decimal places, the nominal 0.22% month-over-month change in disposable income comes to -0.13% when we adjust for inflation. The year-over-year metrics are 6.52% nominal and 2.98% real.
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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?
Wealth Management
OCTOBER 27, 2023
Goldman joins BlackRock and Morgan Stanley in launching lookalike funds to JPMorgan’s successful active ETFs.
Advisor Perspectives
OCTOBER 27, 2023
Consumer sentiment fell for a third consecutive month in October according to the final report for the Michigan Consumer Sentiment Index. The index came in at 63.8, down 4.3 points (-6.3%) from the September final. This morning's reading was just above the forecast of 63.0.
Wealth Management
OCTOBER 27, 2023
Schwab's execs discuss what advisors can expect from the dominant custodian following its migration of assets from TDAI.
Advisor Perspectives
OCTOBER 27, 2023
The BEA's Personal Income and Outlays report revealed inflation slowed as expected in September. Core PCE, the Fed's favored measure of inflation, was up 0.3% from August and slowed to 3.7% year-over-year, the lowest reading in over two years but still above the Fed's 2% target rate.
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