Fri.Feb 24, 2023

article thumbnail

10 Friday AM Reads

The Big Picture

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.

Medical 283
article thumbnail

Weekend Reading For Financial Planners (Feb 25-26)

Nerd's Eye View

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Asness on Value Investing & Humility

The Big Picture

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.

Investing 144
article thumbnail

Podcast links: uncertain economics

Abnormal Returns

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.

Economics 130
article thumbnail

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.

article thumbnail

Trade-Offs in The Economy, Markets & Life

A Wealth of Common Sense

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.

Economy 133

More Trending

article thumbnail

On Track for US IPO, CI Financial Releases Q4 Earnings

Wealth Management

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.

104
104
article thumbnail

COVID Feb 24, 2023: Update on Cases, Hospitalizations and Deaths

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. On COVID (focus on hospitalizations and deaths). Data is now weekly. The winter surge was much smaller in 2023 than for the previous two years, and hopefully cases, hospitalizations and deaths will continue to decline - and set new pandemic lows in a few months. COVID Metrics Now Week Ago Goal New Cases per Week 2 235,131 259,947 ≤35,000 1 Hospitalized 2 21,731 23,050 ≤3,000 1 Deaths per Week 2 2,407 2,838 ≤350 1

Numbers 104
article thumbnail

Should You Invest in Gold for Retirement?

Advisor Perspectives

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?

article thumbnail

: Warner Bros. Discovery wants to exit regional TV sports: WSJ

MarketWatch

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.

article thumbnail

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.

article thumbnail

Fed’s Jefferson, Mester Say Inflation May Persist, Ease Slowly

Wealth Management

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.

109
109
article thumbnail

Takeaways from January’s CPI Announcement

Advisor Perspectives

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.

97
article thumbnail

Make Time to Celebrate Your Retirement

Integrity Financial Planning

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!

article thumbnail

Webull Review: Trade Crypto and Traditional Investments on the Same App

Good Financial Cents

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.

article thumbnail

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.

article thumbnail

RIA Roundup: Savant Wealth Makes Largest Acquisition in History with $3.3B Capital Directions

Wealth Management

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.

104
104
article thumbnail

Personal Income increased 0.6% in January; Spending increased 1.8%

Calculated Risk

The BEA released the Personal Income and Outlays report for January: Personal income increased $131.1 billion (0.6 percent) in January , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $387.4 billion (2.0 percent) and personal consumption expenditures (PCE) increased $312.5 billion (1.8 percent).

Food 91
article thumbnail

Advising Clients Impacted by the Tech Layoffs

Advisor Perspectives

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.

Clients 98
article thumbnail

Coming Soon to Your State: A Millionaire’s Tax

Wealth Management

Massachusetts recently approved a new 4% tax on state residents with annual income over $1 million. Many states could follow.

Taxes 109
article thumbnail

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.

article thumbnail

Real Disposable Income Per Capita Jumps 1.35% in January

Advisor Perspectives

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.

83
article thumbnail

Illinois, Georgia Are Newest States To Adopt Best Interest Annuity Rules

Wealth Management

The two states became the 32nd and 33rd in the county to pass laws based on the National Association of Insurance Commissioners’ 2020 model.

Insurance 109
article thumbnail

Inside the Minds of Expected Stock Returns

Alpha Architect

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.

article thumbnail

The Four Pillars of Macro with Andy Constan

Validea

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.

article thumbnail

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!

article thumbnail

Human First: The Rise of FinPsych, Financial Therapy and Life Planning

Wealth Management

Based on the work of cutting-edge planners and therapists, more advisors are tuning in to the psychology of money.

Planning 104
article thumbnail

: All 30 Dow stocks are falling, led by Boeing, Salesforce and Disney

MarketWatch

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.

article thumbnail

For the First Time, FTSE 100 Tops 8,000

Validea

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

article thumbnail

: Sellas Life Sciences raises $20 million from public offering of stock, warrants

MarketWatch

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

Sales 75
article thumbnail

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.

article thumbnail

“We’re going to hit the brakes very hard,” says Summers

Validea

January’s data emphasizes how robust the U.S. economy—and, by extension, inflation— continues to be, in spite of the steep interest rate hikes imposed by the Fed since almost a year ago, increasing the risk “that we’re going to [have to] hit the brakes very, very hard,” former U.S. Treasury Secretary Larry Summers told Bloomberg Television , according to an article in Barron’s that cites the interview.

Economy 59
article thumbnail

: Sellas Lift Sciences stock plunges to pace premarket decliners after stock, warrants offering

MarketWatch

Shares of Sellas Life Sciences Group Inc. SLS plunged 36.9% toward a two-month low in premarket trading Friday, after the biopharmaceutical company focused on cancer treatments announced the launch of a public offering of common stock and warrants to buy stock. The selloff was enough to make the stock the leading premarket decliner on major U.S. exchanges.

Numbers 75
article thumbnail

The Philly Fed ADS Business Conditions Index Update

Advisor Perspectives

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.

59