Calculated Risk
FEBRUARY 24, 2023
The Census Bureau reports New Home Sales in January were at a seasonally adjusted annual rate (SAAR) of 670 thousand. The previous three months were revised down, combined. Sales of new single‐family houses in January 2023 were at a seasonally adjusted annual rate of 670,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
The Big Picture
FEBRUARY 24, 2023
My end-of-week morning train WFH reads: • The Fed alone cannot bring inflation down : Management of demand is not efficient in dealing with supply-driven price rises: fiscal policy must play its part.art ( Financial Times ) • When a savings account is very risky : Compound Banc pays an eye-popping 7% on deposits — or at least things that look and feel a lot like deposits.
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Calculated Risk
FEBRUARY 24, 2023
From Black Knight: Black Knight’s First Look at January 2023 Mortgage Data: Expanded and Enhanced Market Data Shows Mortgage Delinquency Improvement Across the Board in January, Uptick in Foreclosure Starts • J anuary performance data showed a slight decrease (-10 basis points) in the national delinquency rate month-over-month , which is now down 15.1% year over year • Foreclosure starts saw a fourth straight increase, but remain 37% below pre-pandemic levels ; active foreclosures are up 20% sin
Wealth Management
FEBRUARY 24, 2023
Massachusetts recently approved a new 4% tax on state residents with annual income over $1 million. Many states could follow.
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Nerd's Eye View
FEBRUARY 24, 2023
Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the SEC’s proposed “Safeguarding Rule” would significantly increase the number of investment advisers deemed to have custody of client assets and increase paperwork requirements for advisers and qualified custodians, though the contours of a final regulation remain uncertain.
Wealth Management
FEBRUARY 24, 2023
Federal Reserve officials said the inflation in the US is resulting from a complex set of unprecedented conditions, and that it may take time to decelerate.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
FEBRUARY 24, 2023
The two states became the 32nd and 33rd in the county to pass laws based on the National Association of Insurance Commissioners’ 2020 model.
The Big Picture
FEBRUARY 24, 2023
Sonali Basak interviews AQR Capital Management’s Cliff Asness. They discuss AQR’s 60/40 portfolio strategy and the risks facing financial markets, with Sonali Basak and Guy Johnson on “Bloomberg Markets.” AQR’s Cliff Asness on 60/40 Strategy, Market Risks Source: Bloomberg , February 23, 2023 The post Asness on Value Investing & Humility appeared first on The Big Picture.
Wealth Management
FEBRUARY 24, 2023
Based on the work of cutting-edge planners and therapists, more advisors are tuning in to the psychology of money.
Calculated Risk
FEBRUARY 24, 2023
From BofA: Our GDP tracking estimate fell by two-tenths to 1.3% q/q saar since our last update [Feb 23rd estimate] (estimate before personal spending and New Home sales reports). emphasis added From Goldman: Following stronger-than-expected personal spending and new home sales in January, we boosted our Q1 GDP tracking estimate by 0.4pp to +1.8% (qoq ar) and our domestic final sales forecast by the same amount to +2.3%.
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
FEBRUARY 24, 2023
CI Financial is still set to take its U.S. business public and pay down debt on its Canadian businesses in 2023, said CEO Kurt MacAlpine—while a stateside shopping spree may be slowing.
A Wealth of Common Sense
FEBRUARY 24, 2023
Three thoughts on the trade-offs involved in the economy, markets and life: 1. There is no such thing as a perfect economy. This was the general environment for the 2010s: Low GDP growth Low inflation Stagnating wages A slow labor market High(ish) unemployment rate 0% interest rates A booming stock market This is the post-pandemic 2020s (so far): Higher GDP growth Higher wage growth Higher inflation A booming labor mar.
Wealth Management
FEBRUARY 24, 2023
Savant announced the largest acquisition in its history this week, while Snowden Lane established a 13th office, Sanctuary added a team from Merrill Lynch, DayMark added a team from Wells Fargo, Focus facilitated two tuck-ins, and Mariner, EP Wealth and Exencial all added firms with hundreds of millions in AUM.
Abnormal Returns
FEBRUARY 24, 2023
Strategy Selling covered calls isn't income. You know what pays income? Bonds. (awealthofcommonsense.com) How 5% safe interest rates change the investment landscape. (wsj.com) Venture capital Why entrepreneurs are wary of starting a new company in Israel these days. (nytimes.com) Down rounds are becoming normalized. (news.crunchbase.com) Finance Private equity funding is increasingly is in syndicated loans or private debt.
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
FEBRUARY 24, 2023
Thursday, March 30, 2023 | 2:00 PM ET
Calculated Risk
FEBRUARY 24, 2023
Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Increase to 670,000 Annual Rate in January Brief excerpt: And on prices, from the Census Bureau : The median sales price of new houses sold in January 2023 was $427,500. The average sales price was $474,400. The following graph shows the median and average new home prices. The average price in January 2023 was $474,400 down 5.3% year-over-year.
Abnormal Returns
FEBRUARY 24, 2023
Economics Tyler Cowen talks with Brad DeLong about his book "Slouching towards Utopia: An Economic History of the Twentieth Century." (conversationswithtyler.com) Michael Klein talks with Nicholas Bloom about the role of uncertainty in economics. (econofact.org) Business Benjamin Gilbert and David Rosenthal talk about the the full history of LVMH and Bernard Arnault.
Alpha Architect
FEBRUARY 24, 2023
Non-traditional investor preferences play an important role in explaining the cross-section of expected stock returns. Inside the Minds of Expected Stock Returns was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
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.
Advisor Perspectives
FEBRUARY 24, 2023
For those advisors working with foreign nationals on work visas, I’ll discuss a couple of things you can do to help your clients who are impacted.
MarketWatch
FEBRUARY 24, 2023
Warner Bros. Discovery Inc. WBD wants to stop running the business that oversees three regional sports TV channels that air games for professional teams in Colorado and Utah, as well as Pittsburgh and Houston, the Wall Street Journal reported on Friday. The Journal said an executive from that business told the sports teams that bankruptcy was an option for the business, and that “the business will not have sufficient cash to pay the upcoming rights fees,” and that Warner Bros.
Advisor Perspectives
FEBRUARY 24, 2023
Many investors believe that gold is a safe long-term investment that can be used to hedge against risk. But should you include this precious metal in your retirement portfolio?
Integrity Financial Planning
FEBRUARY 24, 2023
We celebrate many different major life events as we get older—birthdays, weddings, or the birth of children. Something you may want to celebrate is the end of your working years. Now that you’ve worked to set up a great life after working for so long, it can be a great idea to help avoid those retirement blues and start your retirement off with a bang!
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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.
Advisor Perspectives
FEBRUARY 24, 2023
January’s Consumer Price Index (CPI) released this week by the Bureau of Labor Statistics moderated to 6.4% on an annual basis, down from December’s 6.5% and well below its peak of 9.1% in June 2022.
Good Financial Cents
FEBRUARY 24, 2023
With most investing apps now offering commission-free trading, online brokers must find more creative ways to stand out. Robinhood, for example, is now offering a 1% match on IRA contributions. Webull , on the other hand, tries to place the focus on the customer by offering free stocks , fractional share investing, a user-friendly trading platform, extended hours trading, and 24/7 support.
Advisor Perspectives
FEBRUARY 24, 2023
With the release of this morning's report on January's personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. At two decimal places, the nominal 1.98% month-over-month change in disposable income comes to 1.35% when we adjust for inflation. This is a steep increase from last month's.37% nominal and 0.17% real change.
Validea
FEBRUARY 24, 2023
In this episode we speak with Damped Spring Advisors founder Andy Constan. Andy has built a unique macro framework that incorporates growth, inflation, flows and risk premia. We discuss a wide variety of topics, including the interaction between Fed and Treasury policy, the biggest lessons he learned at Bridgewater, the future of inflation and what his framework says about the current market.
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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?
MarketWatch
FEBRUARY 24, 2023
Shares of all 30 components of the Dow Jones Industrial Average DJIA are trading lower in Friday’s premarket, as Dow futures YM00 took a hit after strong consumer spending data worried investors the Federal Reserve could raise rates more and for longer. The Dow’s biggest decliner was Boeing Co.’s stock BA, which dropped 3.9% ahead of the open after The Wall Street Journal reported that aerospace giant halted deliveries of 787 Dreamliners because of a documentation issue.
Advisor Perspectives
FEBRUARY 24, 2023
We've updated our periodic look at the Philly Fed ADS Index which includes real GDP (Q4 2022, second estimate) and initial jobless claims through 2/18.
MarketWatch
FEBRUARY 24, 2023
Sellas Life Sciences Group Inc. SLS said Friday that it raised $20.0 million, through the public sale of common shares and warrants to buy stock. Shares of the biopharmaceutical company, which is focused on cancer treatments, plummeted 43.1% in premarket trading, after the offering was initially announced without terms late Thursday. That’s puts the stock on track for a record one-day loss, surpassing the previous record selloff of 33.0% on Oct. 19, 1987, a day known on Wall Street as Black Mond
Validea
FEBRUARY 24, 2023
For the first time in its history, the FTSE 100 Index climbed above 8,000 points within a day, reports an article in Bloomberg. Many of the heavyweights in the index such as Shell Plc and British American Tobacco Plc fueled the rise, as did a dip in the pound sterling. The index rose 0.6% higher to the intraday high of 8,003.7 points. Quick Links Warren Buffett Portfolio High Momentum Stocks Low Volatility / Conservative Stocks The FTSE dodged last year’s selloff, as well as outperformed the MSC
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