Fri.Jul 22, 2022

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Shift Your Perspective

The Big Picture

After yesterday’s discussion on the uncertainty monster , a friend who “loves perspective changers” reached out with a challenge: “Most people rarely question their own basic ideas,” he said, He challenged me to find 10 concepts to do just that. I agreed to give it a shot, assembling a list of my own, filling it out with a few classics from others: Uncertainty : Objectively speaking “uncertainty” does not increase or decrease – by definition, the future is always inherently uncertain.

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Canary in the Coal Mine

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Shannon Saccocia, and Downtown Josh Brown discuss the Nasdaq bounce, inflation vs spending, good news for the economy, Shannon’s ideas for the second half, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

Economy 246
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1965 Jaguar XKE Series I 4.2 Roadster

The Big Picture

Has there ever been a sexier, more lovely roadster than the Jaguar E-Type? It is perhaps the most beautiful convertible — ever. Even Enzo Ferrari called the E-Type ‘ The most beautiful car ever made.” And a 150-mph top speed didn’t hurt either. The E-Type was continually upgraded from 1961 through 1975 while retaining its spectacular styling. The original 3.8-liter XK straight-six made 265bhp from the factory; the engine grew to 4.2 liters. and produced the same 265 horsepower as the 3.8-l

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Friday links: blaming the Fed

Abnormal Returns

Markets Barry Ritholtz, "Earnings are what they are, the profits of corporate America. By definition, they cannot be wrong – only better or worse than expected." (ritholtz.com) Why grifters use technological change to take advantage of investors. (novelinvestor.com) Markets are driven by feedback loops. (mrzepczynski.blogspot.com) Companies Snap ($SNAP) results are sign of slowing social media revenue growth.

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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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10 Friday AM Reads

The Big Picture

My end-of-week morning offsite reads: • A New Bull Market Can’t Start Until Investors Give Up For a new cycle to begin, people who bet on the market need to capitulate. Problem is, they’ve forgotten what that feels like. ( Wall Street Journal ). • What’s Going On…With Jobs The June jobs report was cheered by economic bulls given its strength in level terms, but rates of change among leading indicators don’t favor a soft-landing outcome for the economy. ( Charles Schwab ) see al

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Anticipated Joy vs. Anticipated Regret

A Wealth of Common Sense

Frank Rabinovich was a portfolio manager and technology specialist at bond giant PIMCO in the 1990s. The way his colleagues treated him was a microcosm of the culture at the firm in its heyday. Co-workers would douse him with bug spray, claiming he smelled bad. They cut off the bottom of his ties when they didn’t like the look of them. They tackled him relentlessly in games of touch football since he wasn’t as.

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How To Drive More Traffic To Your Financial Advisor Website

Advisor Websites

You've invested time and energy into building a great website that will represent your business online. You've uploaded the logo, applied a design that looks sharp, wrote a personalized 'About Me' section, and even had professional headshots done for you and your team. Now it's time to sit back, relax, and watch all of that new traffic (and leads!) roll in.

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Edward Jones Opens Multi-FA Office in Seattle

Wealth Management

Seattle is the latest metro area where the brokerage has opened a multi-advisor office; but the firm expects to take its teaming model to small, rural locations—Edward Jones’ bread and butter—too, says Managing Partner Penny Pennington.

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Hotels: Occupancy Rate Down 7.4% Compared to Same Week in 2019

Calculated Risk

From CoStar: STR: US Hotels Reverse Demand Trends as Performance Recovers Following July Fourth After two consecutive weeks of lower demand around the Fourth of July holiday, U.S. hotel performance bounced back from the previous week, according to STR‘s latest data through July 16. July 10-16, 2022 (percentage change from comparable week in 2019*): • Occupancy: 72.0% (-7.4%) • Average daily rate (ADR): US$157.23 (+14.9%) • Revenue per available room (RevPAR): US$113.28 (+6.4%) *Due to the pandem

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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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Private Advisor Group to Pay $5.8M to Settle SEC Share Class Charges

Wealth Management

The firm recommended investments in share class options for clients in its wrap account programs when more affordable options were available, according to the commission.

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BLS: Eight States Set New Record Series Low Unemployment rates in June

Calculated Risk

From the BLS: Regional and State Employment and Unemployment Summary Unemployment rates were lower in June in 10 states and the District of Columbia, higher in 2 states, and stable in 38 states, the U.S. Bureau of Labor Statistics reported today. All 50 states and the District had jobless rate decreases from a year earlier. Minnesota had the lowest jobless rate in June, 1.8 percent, closely followed by Nebraska, 1.9 percent.

Numbers 90
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Richard Ennis – The Modern Endowment Story: A Ubiquitous U.S. Equity Risk Premium (The Best Investment Writing Volume 6)

Meb Faber Research

Richard Ennis – The Modern Endowment Story: A Ubiquitous U.S. Equity Risk Premium (The Best Investment Writing Volume 6) Author: Richard Ennis, CFA, managed money at Transamerica and pioneered quant investing in the early 1970s. He helped create the field of institutional investment consulting at A.G. Becker & Co. Richard co-founded EnnisKnupp, the first consultancy […].

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Individual Investor Behavior: What Does the Research Say?

Alpha Architect

Many market commentators, financial advisors, and professionals are quick to point that that individuals are terrible investors. Of course, it's not exactly clear that professionals are much better than individuals, but it is certainly true that most investors should simply buy low-cost index funds (or factor funds!) and gets their hands out of the cook jar.

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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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MAI Adds $1.3B RIA Intersect Capital to Sports Division

Wealth Management

MAI Capital Management rounds out its sports and entertainment arm with the addition of Intersect Wealth in San Ramon, Calif.

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A brave root cause analysis and how COSO might help

Norman Marks

I have been a big fan of the IIA’s magazine for a long time, having been both a contributor and a member of its editorial board. A recent piece tackled a topic that I believe is important, not only for internal auditors but also for risk practitioners in an article titled, Digging Deep (available to […].

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Commonwealth Launches New Community Business Unit

Wealth Management

The IBD hopes to forge deeper relationships with its advisors via events, networking experiences and technology.

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The Greatest Investment Of My Life

Random Roger's Retirement Planning

This post isn't about something intangible like myself or my wife but actual dollars and cents. Friends, let me tell you about Cardano! Just kidding. PD Mangan (@mangan150 on Twitter) had a few Tweets today about overcoming depression. In one of them he asked a rhetorical question along the lines of if you woke up, just worked out, swam in a cold lake and then had steak and eggs for breakfast, how depressed would you be?

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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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Crescent Pine Family Office Group Joins Sanctuary Wealth

Wealth Management

The New York–based team from Fieldpoint Private Securities takes its $230 million in client assets to the Sanctuary platform.

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Top Gaming Stocks In India | Industry Overview & Stock List

Trade Brains

Top Gaming Stocks In India: Don’t you miss the days when we could just come home and just plug into our favourite games? Luckily for us today we can do the same at our convenience thanks to smartphones. The gaming industry too has evolved over the last decade and thanks to the accessibility you can find people zoned into games like PUBG at every corner.

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What Really Drives Organic Growth

Wealth Management

The foundation of strong, sustainable organic growth often begins by looking inside the business.

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Stock Market Pundits are Like Bad Diet Advice

Mullooly Asset Management

In today’s information driven world, it’s crucial for stock market investors to get the right information and not get sucked into financial entertainment. The stock market pundits will always be telling you TO DO SOMETHING, even when they don’t have your best interest in mind. In this week’s video, Tom shares a personal story about […].

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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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Advisor Resources for Clients Concerned About a Post-Roe World

Wealth Management

Help guide your clients through this sensitive and emotionally charged time.

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Bear Market June

Bell Investment Advisors

Forrest Bell, CFP®. In June, the stock market ebbed once again, reflecting investors’ concerns about the twin risks of inflation and economic slowdown. These June losses pushed both U.S. and international stocks into bear market territory. Despite a modest late-month rally, U.S. and global stock indices still ended the month down nearly ten percent.

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The WealthStack Podcast: The Evolution of Financial Advisors as Risk Managers

Wealth Management

Rick Bookstaber and Dr. Ashby Monk discuss the importance of understanding risk.

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COVID July 22, 2022, Update on Cases, Hospitalizations and Deaths

Calculated Risk

On COVID (focus on hospitalizations and deaths): Hospitalizations have almost quadrupled from the lows in April 2022. COVID Metrics Now Week Ago Goal New Cases per Day 2 126,128 128,126 ?5,000 1 Hospitalized 2 ?? 35,362 33,246 ?3,000 1 Deaths per Day 2 355 378 ?50 1 1 my goals to stop daily posts, 2 7-day average for Cases, Currently Hospitalized, and Deaths ??

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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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[cdata[ Guide to building a 6-month emergency fund ]]

oXYGen Financial

![CDATA[ It's no secret that life can be unpredictable. Unexpected expenses can crop up at any time, and if you're not prepared, they can throw you for a loop. That's why it's so important to have an emergency fund in place. If you don't have one already, don't worry - building an emergency fund is easier than you might think. If you're currently experiencing an emergency and don't have a fund.

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Q2 GDP Forecasts: Slightly Negative

Calculated Risk

The advance estimate of Q2 GDP will be released next week, and the consensus is for real GDP to increase 0.4% in Q2. Note: We've seen two consecutive quarters of negative GDP before without a recession (that isn't the definition). If Q2 is negative, it will mostly be due to inventory and trade issues. No worries. My view is the US economy is not currently in a recession, see: Predicting the Next Recession From BofA: In next week’s advance estimate of 2Q US GDP, we expect the BEA to report that t

Economy 40
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Podcast links: unfortunate decision making

Abnormal Returns

The biz Acast is buying Podchaser. (axios.com) Economics Brian Koppeman talks with author Roger Lowenstein author of "Ways and Means: Lincoln and His Cabinet and the Financing of the Civil War." (stitcher.com) Ezra Klein talks housing with Jenny Schuetz who is the author of the new book “Fixer Upper: How to Repair America’s Broken Housing Systems.“ (nytimes.com) Antti Ilmanen Barry Ritholtz talks with Antti Ilmanen author of “Investing Amid Low Expected Returns: Making the Most When Markets Offe

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