Mon.Feb 13, 2023

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10 Monday AM Reads

The Big Picture

My back-to-work morning train WFH reads: • How State Street Has Used AI to Find ‘Hidden Gems’ Since 2018 : Natural-language processing used in stock picking: Bartolini Wanted something forward-looking, dynamic, he says of the ETF. ( Bloomberg ) • What Recession? Some Economists See Chances of a Growth Rebound. The Federal Reserve has raised rates rapidly.

Economy 277
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Adviser links: client confidence

Abnormal Returns

Podcasts Daniel Crosby talks with Tom Howard about behavioral finance vs. behavioral investing. (standarddeviationspod.com) Peter Lazaroff talks with Dasarte Yarnway about the importance of diversity in financial services and how to increase it. (peterlazaroff.com) Michael Kitces and Carl Richards on why you need to be clear, upfront about your minimums.

Clients 222
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The Investor’s Podcast: ESG Investing, The Death of 60/40 and More

Pragmatic Capitalism

I joined The Investor’s Podcast again this week to discuss a wide range of topics.

Investing 145
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Monday links: copycat layoffs

Abnormal Returns

Strategy Jumping from investment strategy to strategy is a recipe for disaster. (awealthofcommonsense.com) Why there's never a shortage of market forecasters. (marknewfield.substack.com) Good investment strategy is timeless. (washingtonpost.com) Companies Businesses are not planning to slow their tech spending any time soon. (nytimes.com) Amazon ($AMZN) CEO Andy Jassy has no shortage of issues to deal with.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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The Failure of Mutual Funds over Long Horizons

Advisor Perspectives

It’s common for a mutual fund to outperform its benchmark over a short time horizon – a few years – as happened with Cathie Wood’s ARKK. But new research shows that mutual funds fail dismally when performance is measured over the long horizons that retirement-focused investors face.

More Trending

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Will China Dominate Global Technology?

Advisor Perspectives

Chinese-based technology sits behind some of the world’s most powerful companies – Baidu, Alibaba, WeChat, and Tencent, the subject of a new book. That has created immense wealth for a few bold entrepreneurs, but new policies by the Chinese government aim to reduce that wealth inequality.

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10 Must Reads for CRE Investors Today (Feb. 14, 2023)

Wealth Management

Real estate donors to New York Governor Kathy Hochul’s campaign could benefit from new housing tax breaks, reports the New York Post. GlobeSt.com predicts more concessions for apartment renters are coming. These are among today’s must reads from around the commercial real estate industry.

Taxes 103
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Money Personality and Your Relationship

Your Richest Life

What’s your money personality? If you’ve never heard of it before, Money Habitudes is a game-like assessment that helps people understand their approach to money, and how they can work with others. Everyone has a money style that impacts how they view, spend and save money. Understanding why you and your partner use money differently can cut down on financial fights and misunderstandings, which can be a major point of contention in many relationships.

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The 10 Most Impactful People in the 401(k) Industry

Wealth Management

The contributions from members of this group resulted in something new and impactful, good or bad, and they are still active in the same or similar role where they continue to have the opportunity to affect the industry.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Family Maximum Benefit (Disability)

Getting Your Financial Ducks In A Row

Photo credit: jb In a previous article we talked about the Social Security Family Maximum Benefit for a retired worker – and we mentioned that there was a separate calculation for the Social Security Family Maximum Benefit for a disabled worker. This calculation is much simpler than the retired worker calculation for Family Maximum Benefits. Nonetheless, hang on to your hat, keep your arms and legs inside the car at all times, cuz this may still get a little outtahand: The family maximum f

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Celebrity Estates: Succession Planning Lessons From The British Royal Family

Wealth Management

With the recent passing of Queen Elizabeth II, it’s an opportune time to ask: What can planners learn from such an impossibly rigid, yet simultaneously extremely transparent ‘plan’?

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The Investor’s Podcast: ESG Investing, The Death of 60/40 and More

Pragmatic Capitalism

I joined The Investor’s Podcast again this week to discuss a wide range of topics.

Investing 100
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Eight Must Reads for CRE Investors Today (Feb. 14, 2023)

Wealth Management

About a dozen U.S. states are looking at legislation that would forbid the sale of real estate to Chinese citizens or companies, according to GlobeSt.com. Real estate donor to New York Governor Kathy Hochul’s campaign could benefit from new housing tax breaks, reports the New York Post. These are among today’s must reads from around the commercial real estate industry.

Taxes 98
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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

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.

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Talk Your Book: Bitcoin Doesn’t Know It’s Price

A Wealth of Common Sense

Today’s Talk Your Book is presented by Fidelity Digital Assets: On today’s show, we are joined by Jack Neureuter, Research Analyst at Fidelity Digital Assets to discuss crypto in 2022 and what to look ahead for in 2023. On today’s show, we discuss: A sentiment check in Crypto How Bitcoin miners work 2022 headwinds for Bitcoin Value propositions of Bitcoin Transaction volume in Crypto Cyclicality within digital.

Assets 68
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Eight Must Reads for the CRE Industry Today (Feb. 13, 2023)

Wealth Management

Sam Zell’s Equity Commonwealth is on the hunt for deals, but not focusing on distress, reports The Real Deal. Propmodo breaks down the growing legal problems for RealPage. These are among today’s must reads from around the commercial real estate industry.

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: Twilio to lay off 17% of its employees to cut costs, while providing upbeat Q4 guidance

MarketWatch

Shares of Twilio Inc. TWLO rallied 2.8% in morning trading Monday, after the communications software company disclosed that it will lay off 17% of its employees as part of a plan to cut costs, streamline its business and become more efficient. Based on 7,867 employees as of the end of 2021, according to the company’s latest annual report, that would imply more than 1,300 employees will be laid off.

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New Yorkers Pay the Highest ‘Singles Tax’ in the U.S.

Wealth Management

New York renters living alone in one-bedroom apartments are forking over $19,500 more a year than couples who live together, Zillow data show. In Manhattan, the annual singles tax rises to a whopping $24,000.

Taxes 100
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Transforming Lending: Understanding the Power of Digital Platforms

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.

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: Vodafone stock surges after Liberty Media discloses 4.9% stake

MarketWatch

The U.S.-listed shares of Vodafone Group PLC VODUK:VOD climbed 2.4% in midday trading Monday, after media company Liberty Global PLC LBTYALBTYK said it has acquired a 4.9% stake in the U.K.-based telecommunication services company. Liberty said the purchase of the 1.335 billion shares of Vodafone was funding through a financing that required equity funding of about GBP225 million ($272.8 million).

Media 75
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Ken Griffin's Miami Move Inspires Investors Who Want to Work From the Beach

Wealth Management

The finance community quickly decamped to friendly climates during the pandemic helping create what’s now known as Wall Street South.

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: Arista Networks’ stock is up 3.5% on strong results, revenue guidance

MarketWatch

Arista Networks Inc.’s stock ANET jumped 3.5% in extended trading Monday after the cloud-computing company reported fiscal fourth-quarter earnings of $427.1 million, or $1.35 a share, compared with earnings of $239.3 million, or 75 cents a share, in the year-ago quarter. Adjusted earnings were $1.41 a share. Revenue was $1.276 billion, up 55% from $824.5 million a year ago.

Sales 75
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Advising Clients on Exit Planning: Part 2

Wealth Management

The first step in formulating an exit plan isn’t focusing on “the numbers,” but rather evaluating where a client actually is in relationship to their expectations.

Clients 93
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Quick Start Guide to a Crystal Clear Close

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!

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: Binance coin slumps as Paxos ordered to stop issuing dollar-based token

MarketWatch

Binance coin, or BNB, slumped 7% as the New York Department of Financial Services ordered Paxos Trust to stop creating more of its BUSD token, according to a Wall Street Journal report citing a Binance statement. Paxos also has been told by the Securities and Exchange Commission that the agency plans to sue it, the newspaper said. The BUSD token was trading just below parity, according to Coinmarketcap.

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Advising Childless and Child-free Clients

Wealth Management

When children will never be in the equation, it requires advisors to solve for different variables.

Clients 98
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Do Gender Pay-Gap Disclosures Make a Difference?

Alpha Architect

The verdict is still out on the impact of legislation regarding firm disclosure rules on the gender pay gap (GPG). Results from recently published research are mixed. Do Gender Pay-Gap Disclosures Make a Difference? was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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: Novavax to provide up to 1.5 million more doses of its COVID-19 vaccine to the U.S.

MarketWatch

Shares of Novavax Inc. NVAX gained 2.4% in premarket trading on Monday after the company said it will deliver additional doses of its updated COVID-19 booster to the U.S. government. Novavax said it will provide up to 1.5 million doses of the shot “for the upcoming 2023/2024 vaccination campaign.” The company’s stock is down 60.5% over the past three months, while the S&P 500 SPX has gained 3.8%.

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The Blueprint for a Customer-Centric Digital Lending Experience

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.

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DST Sector Battles Excess Inventory as Investor Demand Slows

Wealth Management

Disruption to the broader real estate investment sales market has taken its toll on the DST sector.

Sales 98
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: Axsome’s stock falls after disclosing Teva’s plans to market generic Auvelity

MarketWatch

Shares of Axsome Therapeutics Inc. AXSM tumbled about 10.0% in premarket trading on Monday after the company said in a securities filing that Teva Pharmaceutical Industries Ltd. TEVA is seeking approval from the Food and Drug Administration to market a generic version of Auvelity, Axsome’s depression treatment. Axsome’s stock has gained 95.8% over the past year, while the S&P 500 SPX declined 7.6%.

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How RIA Firms Are Dealing With Hiring and Compensation Challenges

Wealth Management

Hiring and retention are no longer just about how you pay people; it’s about the entire work experience you deliver.

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