Abnormal Returns
MAY 31, 2023
Podcasts Jonathan Hollow talks with Andrew Hallam author of "Balance: How to Invest and Spend for Happiness, Health, and Wealth." (podcasts.apple.com) Morgan Housel on the 'art of spending money.' (open.spotify.com) Taxes What Is a 83(b) election? (thomaskopelman.com) Who is eligible for the retirement savings tax credit? (humbledollar.com) Fraud How to protect yourself against check fraud.
Nerd's Eye View
MAY 31, 2023
The 2017 Tax Cuts & Jobs Act introduced a $10,000 limit on the State And Local Tax (SALT) deduction that was previously available for taxpayers who itemized their deductions. In response to the new deduction limit, many states enacted laws creating a new Pass-Through Entity Tax (PTET) designed to help owners of pass-through businesses (partnerships, LLCs, and S corporations) avoid the limitation and preserve the deductibility of their state tax payments.
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The Big Picture
MAY 31, 2023
I am moderating a fascinating panel today at Bloomberg’s Hedge Fund Start-Up Conference 2023. It is a great collection of newer hedge fund managers who have put up impressive numbers consistently over the past few years. The challenge for investors in alternatives is twofold: The first is identifying those managers who can consistently generate alpha in excess of fees; and the second, is to find them early enough so they are still willing to accept your capital.
Abnormal Returns
MAY 31, 2023
AI The AI stock mania phase is here. (herbgreenberg.substack.com) How big tech companies are investing in AI startups. (news.crunchbase.com) Strategy The stock market loves disinflation. (awealthofcommonsense.com) Tactical allocation funds have failed miserably. (morningstar.com) Energy Berkshire Hathaway ($BRK.A) now owns 24.9% of Occidental Petroluem ($OXY).
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Financial institutions continue to look to quantify the impact of new technologies. Meanwhile, business lending technologies have grown more popular in the industry. However, understanding the impact of said technologies means understanding how to increase your revenue while decreasing your costs. This is key for the growth of your organization. Biz2X created this eBook to analyze the ROI of business lending platforms and learn about the short-term and long-term benefits of said platforms.
Calculated Risk
MAY 31, 2023
From the BLS: Job Openings and Labor Turnover Summary The number of job openings edged up to 10.1 million on the last business day of April , the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires changed little at 6.1 million. Total separations decreased to 5.7 million. Within separations, quits (3.8 million) changed little, while layoffs and discharges (1.6 million) decreased. emphasis added The following graph shows job openings (black line), hires (dark blue)
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Indigo Marketing Agency
MAY 31, 2023
At the recent Jolt Conference , Director of Marketing Elizabeth Reider met one of our influencers, Dr. Preston Cherry , who shared the art of storytelling for financial advisors. Dr. Cherry discussed some great practices we think advisors can implement today when sitting down to meet with a current or prospective client. Active Listening When you’re meeting with a client or prospect, it’s their turn to share; you want to connect with who they are and where they are.
MarketWatch
MAY 31, 2023
Pfizer Inc. PFE said late Wednesday that the Food and Drug Administration approved its respiratory syncytial virus vaccine Abrysvo for older adults. The drug maker said the FDA approved Abrysvo for use in adults 60 years of age or older. RSV is a contagious virus that attacks the lungs and breathing passages, and is considered a common cause of respiratory illness globally, Pfizer said, adding the vaccine will be available in the third quarter before RSV season in the fall.
NAIFA Advisor Today
MAY 31, 2023
In 1999, Panos Leledakis was in Greece studying to be a lawyer when he met a manager in the insurance business who convinced him to try financial advising part-time. After six months, he says, he fell in love with the profession and decided to make it his career.
Calculated Risk
MAY 31, 2023
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 3.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 26, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.7 percent on a seasonally adjusted basis from one week earlier.
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.
Advisor Perspectives
MAY 31, 2023
Central bank digital currencies (CBDCs) are the next step in financial innovation. The government will do what it deems in its best interests. CBDCs will replace physical currency; it's just a question of when.
Trade Brains
MAY 31, 2023
Fundamental Analysis of Deepak Fertilisers : As the world’s population grows, it will increase pressure on food supplies and demand for higher crop yields. To achieve that, chemical companies will help farmers with a cost-effective way of improving the yield and the quality of their crops. One such chemical company is Deepak Fertilisers. In this article, we will perform the Fundamental Analysis of Deepak Fertilisers and Petrochemicals Corporation Ltd.
Wealth Management
MAY 31, 2023
Laura Ward is joining William Blair as a managing director and wealth advisor out of San Francisco a month after her previous firm collapsed and was acquired by JPMorgan Chase.
Fintoo
MAY 31, 2023
Markets for the May ended higher for the second straight month and posted gains of 2.5%. The monthly charts indicate short term hurdle at 18604.45, above which we expect smooth sailing towards 19285 for the month of June. The key catalyst for the strong up move in June may come from sharp drop in brent […] The post Market Morning Notes For 1st June 2023 appeared first on Fintoo Blog.
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Generative AI (Artificial Intelligence) is poised to revolutionize the world of business lending. By understanding the impact and possibilities of Generative AI in business lending, banks can stay ahead of the curve and make informed decisions. Generative AI has the potential to revolutionize how lenders make credit decisions, automate loan processes, and provide personalized customer experiences.
Calculated Risk
MAY 31, 2023
Note: I like using Las Vegas as a measure of recovery for both leisure (visitors) and business (conventions). From the Las Vegas Visitor Authority: April 2023 Las Vegas Visitor Statistics Las Vegas hosted approximately 3,385,500 visitors in Apr 2023, on par with the robust volumes achieved last Apr when pent‐up demand overtook receding pandemic impacts.
Your Richest Life
MAY 31, 2023
As we approach the summer, it can be difficult to stay on track with your financial goals. It’s been several months since you made your goals for the year, so it might be time to get reacquainted with them. The good news is that summer is the perfect time to assess where you’re at, and make a plan for the rest of the year. Plan Out Your Summer Fun Summer can be a fun, busy time of year, full of vacations, barbecues, sporting events and pool days.
Wealth Management
MAY 31, 2023
The Court ruled that a disclosure package submitted to IRS adequately disclosed transfer of company and related foreign accounts.
Advisor Perspectives
MAY 31, 2023
The BEA's core Personal Consumption Expenditures (PCE) Price Index for April, released last Friday, shows that core inflation continues to be well above the Federal Reserve's 2% long-term target at 4.7%. The April core Consumer Price Index (CPI) release was higher, at 5.5%. The Fed is on record as using core PCE data as its primary inflation gauge.
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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!
Wealth Management
MAY 31, 2023
The decision turned on the transformative factor of the work, a portrait of Prince based on an existing photograph.
MarketWatch
MAY 31, 2023
The U.S. House of Representatives on Wednesday voted 241-187 in favor of a procedural measure tied to a crucial debt-limit bill. That outcome keeps the chamber on track to hold its actual vote on that bill later Wednesday. There were 189 Republicans and 52 Democrats voting “yea,” while 29 Republicans and 158 Democrats voted “nay.” Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.
Wealth Management
MAY 31, 2023
Morgan Stanley's $4.6 trillion wealth management business has seen significant growth in the past 10 years and posted $6.6 billion in pretax profit last year.
MarketWatch
MAY 31, 2023
Shares of Target Corp. TGT fell 1.4% in afternoon trading Wednesday, putting them on course for the lowest close since Aug. 11, 2020. The discount retailer’s stock was also headed for a ninth-straight decline, which would be the longest losing streak since the 11-day stretch that ended Feb. 24, 2000, according to Dow Jones Market Data. The current losing streak started a day after it rose 2.6% on May 17, after Target reported a fiscal first-quarter profit that beat expectations but cut its full-
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Digital transformation is a key component in improving the customer experience in an ever-changing landscape. Digital transformation in account opening is the integration of streamlined processes to enhance the customer journey. This is a great way for banks to stay competitive, as they can offer an improved experience that leads to higher customer satisfaction.
Wealth Management
MAY 31, 2023
Edelman Financial Engines' current chief, Larry Raffone, will transition to chairman, effective in August.
MarketWatch
MAY 31, 2023
Toyota Motor Corp. JP:7203 said Wednesday it will start producing an all-new electric SUV at its Kentucky plant in 2025. The three-row SUV would be the company’s first U.S.-assembled EV, with batteries coming from a Toyota plant in North Carolina currently under construction. Toyota said it will invest an additional $2.1 billion in the North Carolina plant, bringing the total to $5.9 billion.
Wealth Management
MAY 31, 2023
A trio from the former Signature Bank will operate as an independent team associated with a branch of Cadaret Grant.
MarketWatch
MAY 31, 2023
Shares of Anheuser-Busch InBev SA BUD slumped 2.2% in morning trading Wednesday, and was headed toward the lowest close since Nov. 9, 2022, as they continued to feel the weight of declining Bud Light sales amid the consumer backlash from the beer brand’s partnership with a trans influencer. The stock has tumbled 18.0% in May, which puts it on track for the worst monthly performance since it tumbled a record 24.4% in March 2020.
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
Wealth Management
MAY 31, 2023
Franklin Templeton will initially pay $925 million in shares and cash to acquire Putnam from Great-West Lifeco Inc.
MarketWatch
MAY 31, 2023
Apple Inc.’s AAPL App Store generated $1.1 trillion in sales last year, according to an Analysis Group report that was funded by Apple. The report found that App Store sales have doubled since 2019, when they reached $519 billion. “As this report shows, the App Store is a vibrant, innovative marketplace where opportunity thrives, and we’re as committed as ever to investing in developers’ success and the app economy’s future,” Apple Chief Executive Tim Cook said in a statement.
Wealth Management
MAY 31, 2023
In its 5th deal of the year, Hightower expands its footprint in the nation’s Northeast.
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