The Big Picture
NOVEMBER 4, 2022
Since it is late on a Friday, I thought I might share some quick thoughts about the week. I have been wondering, more than usual, about the disconnect between what we see in falling prices and the Federal Reserve’s anti-inflation actions. It is difficult to reconcile Fed rhetoric with the actual price of Goods. One can reach only so many conclusions: Perhaps the Fed is right and everybody else is wrong.
Nerd's Eye View
NOVEMBER 4, 2022
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that as part of the ongoing integration between the merged companies, Charles Schwab plans to transition advisors currently on the TD Ameritrade custodial platform to Schwab’s platform over Labor Day weekend 2023.
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The Big Picture
NOVEMBER 4, 2022
BMW’s image as the “ultimate driving machine” was built atop the sportiness of its high-performance coupe models. The “sharknose” E9 was BMW’s elegant flagship coupe sold in the US from 1968-1975. The E9 used an electronic fuel injection system that was state-of-the-art technology back then (most cars were still using carburetors). 200 HP made the 3.0 CSi really fast (at least for those days).
Abnormal Returns
NOVEMBER 4, 2022
Strategy When should you change your asset allocation? Not all that often. (awealthofcommonsense.com) For the first time in a decade, TIPS finally look attractive. (morningstar.com) Old school Would Ben Graham buy Meta ($META) stock? (rationalwalk.com) 12 lessons from Charlie Munger and Warren Buffett on money and life including 'Volatility is not risk.
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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 Reformed Broker
NOVEMBER 4, 2022
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Carleton English, Scott Krisiloff, and Downtown Josh Brown discuss the latest from Powell and the Fed, earnings season, the wisdom of Warren Buffett, junk bonds, 2008 vs today, nuclear fusion, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
NOVEMBER 4, 2022
From the BLS : Total nonfarm payroll employment increased by 261,000 in October , and the unemployment rate rose to 3.7 percent , the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care, professional and technical services, and manufacturing. The change in total nonfarm payroll employment for August was revised down by 23,000, from +315,000 to +292,000, and the change for September was revised up by 52,000, from +263,000 to +315,000.
A Wealth of Common Sense
NOVEMBER 4, 2022
There is a lot of negativity in the world these days and I’m not just talking about bear markets, recessions and inflation. Negativity is much easier to latch onto because it fits in a headline or tweet or 30-second news clip. Progress doesn’t fit in a headline because it takes time to play out. The world is far from perfect these days but things really are getting better.
Calculated Risk
NOVEMBER 4, 2022
The headline jobs number in the October employment report was above expectations, and employment for the previous two months was revised up by 29,000, combined. The participation rate decreased, and the unemployment rate increased to 3.7%. Leisure and hospitality gained 35 thousand jobs in October. At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 1.1 million jobs since February 2020.
Covisum
NOVEMBER 4, 2022
We are in a considerably higher inflation environment than we've seen in decades. While the Federal Reserve initially said the inflation is transitory, the high inflation has spanned more than two years. Over the past several months, high inflation has been a top concern for many people , especially those nearing retirement. Financial advisors are uniquely qualified to address these concerns and help clients plan and stress test for inflation.
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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.
Calculated Risk
NOVEMBER 4, 2022
From the Association of American Railroads (AAR) Rail Time Indicators. Graphs and excerpts reprinted with permission. October is usually a top month for carloads, and that’s the case in 2022. Total originated U.S. carloads averaged 238,019 per week in October 2022, the most since May 2021 and up 0.5% over October 2021. U.S. intermodal volume fell 1.4%. its 14th decline in the past 15 months. emphasis added Click on graph for larger image.
Alpha Architect
NOVEMBER 4, 2022
Independent RIA firms seek to do what is "right" for the client, which often boils down to minimizing fees and taxes and increasing transparency/education (i.e., ETFs). But the "right" solution for an advisor's clients might not be available 'off-the-shelf' in the ETF market, or the advisor can't use ETFs because they are stuck "managing around" legacy portfolios and tax problems.
Calculated Risk
NOVEMBER 4, 2022
Today, in the Calculated Risk Real Estate Newsletter: Realtor.com Weekly Inventory Up 40% Year-over-year; Now Above Same Week in 2020 A brief excerpt: Here is a graph comparing the year-over-year change in the Realtor.com active monthly data to the inventory data from the National Association of Realtors (NAR). The dashed line is Realtor.com’s estimate of total inventory including pendings. t appears the NAR includes some pending sales in their inventory data, and that accounts for the divergenc
Advisor Websites
NOVEMBER 4, 2022
The higher that your website ranks on search engines, the higher your possibility is of more website visitors, and ultimately more visitors converting into leads. However, this isn't always the case. Not all website traffic is valuable. So how do you get more of the right people, your target audience, to your website in the first place? Well first, you need to know who your target audience is.
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.
Mullooly Asset Management
NOVEMBER 4, 2022
In this week’s podcast, the guys cover alternative investments and peel back the curtain on these difficult to understand investment products. When the market is volatile, like it has been in 2022, these product sales always skyrocket. And the promise of safety allures investors into not fully understanding what it is they are putting their […] In this week’s podcast, the guys cover alternative investments and peel back the curtain on these difficult to understand investment products
Wealth Management
NOVEMBER 4, 2022
Atria Wealth Solutions' Brian Nelson reveals the top methods and approaches successful advisors are using to accelerate growth.
Clever Girl Finance
NOVEMBER 4, 2022
Have you ever met someone who doesn’t seem worried about money ? They might always have extra cash for the things they want, or, they always have the money to pay their bills in full — even the unexpected ones. This person is likely financially stable. What does being financially stable mean? It can look a little different to everyone, but someone who’s financially stable usually doesn’t have to worry about making ends meet each month.
Wealth Management
NOVEMBER 4, 2022
Retirement industry thought leaders answer three probing questions on critical issues, providing an open, honest and candid dialogue.
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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.
Calculated Risk
NOVEMBER 4, 2022
A wide range of Q4 estimates, from 0.7% to 3.6%. It looks like Q3 GDP will be revised up in the second release. From BofA: [ 1.0% in Q4 ] Overall, the data since our last weekly publication when the BEA’s advance estimate of US 3Q GDP growth was realeased, moved up our 3Q GDP tracking estimate from 2.6% q/q saar (seasonally adjusted annual rate) to 3.1% q/q saar [Nov 4th estimate] emphasis added From Goldman: Following today’s data, we lowered our Q4 GDP tracking estimate by two tenths to +0.7%
Wealth Management
NOVEMBER 4, 2022
Should Social Security play a larger role in providing retirement income than it does today?
Norman Marks
NOVEMBER 4, 2022
The purchase of Twitter by Elon Musk is being followed by mass layoffs. For me and probably others, the potential changes (including the abandonment of the platform by many of my followers) is likely to present a challenge. Its one of the ways I receive and then share information. But for many employees of Twitter, […].
Wealth Management
NOVEMBER 4, 2022
As conference season comes to a close, avoid paralysis by analysis by taking concrete action on marketing your practice.
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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
NOVEMBER 4, 2022
30-year mortgage rates are close to a 20 year high. NOTE: COVID stats are updated on Fridays. On COVID (focus on hospitalizations and deaths). Data has switched to weekly. NOTE: Cases have declined by two-thirds from the recent peak, and deaths lag cases - so we might see weekly deaths below 2,000 soon (good news, but still too high). Weekly deaths bottomed in July 2021 at 1,666.
Wealth Management
NOVEMBER 4, 2022
The bank said it started 2,700 job cuts in the fourth quarter and is aiming to reduce about 9,000 positions by 2025.
Clever Girl Finance
NOVEMBER 4, 2022
It’s no secret that money is the most common thing that couples fight about. In fact, money is a leading cause for divorce. Could a couples challenge help? Doing a financial challenge is a great idea for couples to try! In addition, other types of fun challenges can strengthen your relationship and help you accomplish goals. If you're wondering what a couples challenge is, it's pretty simple.
Wealth Management
NOVEMBER 4, 2022
New platforms can help extend alts access to a broader group of investors without exposing them to greater risks.
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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.
NAIFA Advisor Today
NOVEMBER 4, 2022
NAIFA is proud to share that long-time partner and champion Fairway Independent Mortgage Corporation was named #1 in the 2022 Top Workplaces USA, in an award issued by Energage. Fairway also took the top spot in 2021 as the top-ranked winner for a company with over 2,500 employees.
Wealth Management
NOVEMBER 4, 2022
New York City’s new pay-transparency law has a blind spot: Wall Street bonuses.
Validea
NOVEMBER 4, 2022
When the hedge fund he founded shorted over $25 billion mortgage securities in the early days of the 2008 financial crisis, John Paulson became a billionaire. Now, he’s looking at “another frothy house market” with a possible repeat of sagging home prices, but maintains that the banking system is much better-positioned to cope with it in an interview with Bloomberg.
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