The Big Picture
MAY 4, 2023
I have been writing about issues with the minimum wage for (it seems like) decades. During that time, consuming lots of academic research, I reached a few logically supported conclusions. The least contentious of which is that modest increases in minimum wages increase economic activity and create jobs. But there are other surprises around the minimum wage.
Abnormal Returns
MAY 4, 2023
Books An excerpt from “Plunder: Private Equity’s Plan to Pillage America” by Brendan Ballou. (theatlantic.com) A excerpt from "Traffic: Genius, Rivalry, and Delusion in the Billion-Dollar Race to Go Viral." by Ben Smith. (semafor.com) An excerpt from "For The Culture: The Power Behind What We Buy, What We Do, and Who We Want To Be" by Marcus Collins.
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The Reformed Broker
MAY 4, 2023
Hopping on Ask The Compound (formally known as Portfolio Rescue) with Ben and Duncan at 1:30pm ET! Tune in as we discuss loan prepayments, bear market exhaustion, spending v saving, and more! Submit your questions to askthecompoundshow@gmail.com for a chance to be featured! Listen here: Apple podcasts Spotify podcasts. The post Is the Bear Market Over?
Nerd's Eye View
MAY 4, 2023
One of the biggest challenges faced by solo financial advisory firm owners as their firms grow and encounter capacity issues is deciding whether (and when) to hire an employee. While hiring staff members can offer a helpful lift in reducing capacity constraints for the firm owner, it also comes with its own burdens such as managing, training, and supervising employees, which many firm owners may have never considered when first launching their firms.
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
MAY 4, 2023
Commodities Why Warren Buffett seems so keen for oil companies. (wsj.com) How direct lithium extraction could upend the lithium market. (ft.com) Crude oil prices keep falling. (axios.com) Strategy How stock-bond correlations change with Fed actions. (morningstar.com) It's inevitable people will try to use ChatGPT to pick stocks. (ft.com) Venture capital The world of venture investing has changed a lot since Andreessen Horowitz came on the scene.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
MAY 4, 2023
The Census Bureau and the Bureau of Economic Analysis reported : The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $64.2 billion in March, down $6.4 billion from $70.6 billion in February, revised. March exports were $256.2 billion, $5.3 billion more than February exports. March imports were $320.4 billion, $1.1 billion less than February imports. emphasis added Click on graph for larger image.
Wealth Management
MAY 4, 2023
Amir Monsefi, the co-founder and CEO of AIRE Advisors, describes “conflicts of interest” with the ability to serve clients and grow the business at Merrill. The former resident director shares how building their own RIA allowed them the freedom to innovate and remove conflicts.
Calculated Risk
MAY 4, 2023
The DOL reported : In the week ending April 29, the advance figure for seasonally adjusted initial claims was 242,000 , an increase of 13,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 230,000 to 229,000. The 4-week moving average was 239,250, an increase of 3,500 from the previous week's revised average.
Wealth Management
MAY 4, 2023
Focus Financial Partners posted a net loss and lower-than-expected revenue during the first quarter, as it nears a sale to private equity firm Clayton, Dubilier & Rice.
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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.
A Wealth of Common Sense
MAY 4, 2023
A reader asks: I’m in my late-30s so I know I should look at this environment as an opportunity to buy at lower prices but I’m sick of the bear market. I got caught up investing in tech in 2020 and 2021 so I’m down way more than the S&P 500 (probably down 25-30% from my previous highs). It would help to hear your best and worst-case scenarios between new all-time highs this year and a 1970s environment where we.
Wealth Management
MAY 4, 2023
The head of financial and economic research at Buckingham Strategic Wealth talks "dumb indexes," "smart beta" and intelligent design.
Advisor Perspectives
MAY 4, 2023
The S&P 500 real monthly averages of daily closes peaked in November of 2021 and 2022 was a bear market. Let's examine the past to broaden our understanding of the range of historical trends in market performance.
Wealth Management
MAY 4, 2023
As office real estate continues to navigate headwinds, investors are realizing that certain assets and markets within the sector can offer stability in volatile times.
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
MAY 4, 2023
U.S. stock indexes opened lower on Thursday as investors assessed the latest Federal Reserve decision which hiked the interest rate by 25 basis points and opened the door to a long-awaited pause in its tightening campaign. Wall Street also picks on more U.S. regional banks on returning fears over the financial system. The Dow Jones Industrial Average dropped 78, or 0.2%, to 33,341.
Integrity Financial Planning
MAY 4, 2023
They just don’t make arcades like they used to. The hallmark clack of pinball machines and the 8-bit orchestras playing from all sorts of machines isn’t something you can really find anymore. Here’s a list of some of the greatest arcade classics of all time. Pong The game that started it all. It’s a simple system–two players with a paddle and a ball that bounces back and forth between them.
MarketWatch
MAY 4, 2023
Minnesota is closing in on legislation to allow adults over 21 to buy and consume marijuana in what would be the 23rd U.S. state to do so. The state Senate OK’d the measure on Friday by a vote of 34-33 after the House approved its own version. Minnesota Gov. Tim Walz has said he plans to sign the legislation once a final version from the House and Senate arrives at his desk.
NAIFA Advisor Today
MAY 4, 2023
Financial Advisors are in the best position possible to be of service to their clients during this recent wave of banking news. “Kevin O'Leary thinks regional banks and their shares are doomed. wherein small regional banks will consolidate into super-regionals.” – March 30, 2023 Who would better know what to do now, in this place, with their knowledge, than a financial advisor?
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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.
MarketWatch
MAY 4, 2023
Shares of Icahn Enterprises L.P. fell another 5.6% premarket Thursday in the continued fallout from a short seller’s report that was critical of the investment arm of activist investor Carl Icahn. The stock has lost 36% of its value in the wake of the report, which accused IEP of inflating its value. The report also highlighted the existence of personal indebtedness, specifically that Icahn borrowed against shares, or units, he owned in Icahn Enterprises LP (IEP), his publicly traded investing v
Wealth Management
MAY 4, 2023
The path is paved for real estate debt funds to get into the mix with more opportunistic plays, including in the office sector.
MarketWatch
MAY 4, 2023
Dating-app platform Bumble Inc. BMBL on Thursday said its board had approved a $150 million share buyback program, and the company forecast full-year sales that were a tad above expectations. Shares rose 6.6% after hours. The company, the parent of its namesake app as well as the apps Badoo and Fruitz, said it expected expected second-quarter sales of $254 million to $258 million, with full-year sales growth of 16% to 19%.
Wealth Management
MAY 4, 2023
With Google’s AI-focused venture fund giving Range $12 million, it’s déjà vu all over again for our technology columnist.
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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!
Calculated Risk
MAY 4, 2023
From CoStar: STR: US Hotel Occupancy Remains Flat in Final Week of April U.S. hotel performance showed mixed results from the previous week but remained up year over year, according to STR‘s latest data through April 29. April 23-29, 2023 (percentage change from comparable week in 2022): • Occupancy: 66.6% (+0.1%) • Average daily rate (ADR): $156.14 (+5.5%) • Revenue per available room (RevPAR): $104.01 (+5.6%) emphasis added The following graph shows the seasonal pattern for the hotel occupancy
MainStreet Financial Planning
MAY 4, 2023
“MainStreet Chalk Talk” The MainStreet Financial Planning Discussion Club When: Tuesday 5-16-23 at 7:30pm Eastern; 4:30pm Pacific ~30-45 minutes Recorded and able to retrieve for one week How : Zoom Meeting, Free to current clients; $10 for guests Register Here! Exploring Retirement Housing Decisions Hosted by: Jennifer Bush, CFP® MainStreet Financial Planning As people approach retirement age, one of the most significant decisions they face is where and how they will live during their golden ye
Wealth Management
MAY 4, 2023
The political circus has taken on dimensions few expected to see just a few years ago.
Nationwide Financial
MAY 4, 2023
The Federal Reserve’s current campaign of rate hikes has persisted for more than a year. Tighter monetary policy has helped bring inflation down somewhat from its peak last June, with the expected consequence of slowing economic growth as seen in the Q1 GDP report. In recent months, expectations for the Fed’s next steps have varied among central bank analysts, the stock market, and individual investors.
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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
MAY 4, 2023
Former First Republic duo, managing $452 million in client assets, has jumped ship and joined RBC’s San Francisco office.
The Irrelevant Investor
MAY 4, 2023
Today’s Compound and Friends is brought to you by birddogs: Thanks to Birddogs for sponsoring this episode! Enter promo code “MICHAEL” and get a free Yeti-style tumbler with every order here On today’s show, we discuss: Apple earnings next up Apple’s new savings account draws nearly $1B in deposits in the first four days Shareholder lawsuit says Coinbase execs, VCs, saved $1B by selling befor.
Wealth Management
MAY 4, 2023
The path is paved for real estate debt funds to get into the mix with more opportunistic plays, including in the office sector.
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