The Big Picture
JULY 27, 2023
My morning train reads: • Commercial Real Estate Is in Trouble, but Not for the Reason You Think : As far as weak spots go, there are reasons for concern. Offices comprise 80% of new delinquencies in commercial real estate loans, and occupancy rates in major cities consistently hover around 50% of capacity. But the towers we once commuted to comprise just a tiny fraction of the overall commercial real estate market.
Abnormal Returns
JULY 27, 2023
Rates The Fed funds rate is at its highest level in 22 years. (nytimes.com) U.S. consumers are less exposed to higher interest rates than they used to be. (wsj.com) QQQ What do you get when you run a regression on the returns of the Invesco QQQ Trust ($QQQ)? (alphaarchitect.com) What you need to know about the rebalance of the Invesco QQQ Trust ($QQQ).
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Nerd's Eye View
JULY 27, 2023
While many financial advisory firm owners have long-term goals that involve building a career based in a profitable and sustainable advisory firm, there are some firm owners who develop their firm as a means to explore and pursue other business endeavors. These firm owners may opt to take a backseat role in running the firm, yet must still entrust client relationships and firm management to their advisors and support team.
Abnormal Returns
JULY 27, 2023
Books An excerpt from "Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud" by Ben McKenzie and Jacob Silverman. (rollingstone.com) An excerpt from "Wasteland: The Secret World of Waste and the Urgent Search for a Cleaner Future" by Oliver Franklin-Wallis (gq.com) An excerpt from “Programmable Planet: The Synthetic Biology Revolution” by Ted Danton.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
The Reformed Broker
JULY 27, 2023
Bernstein raises Apple’s price target to $195 from CNBC Watch CNBC’s investment committee discuss Meta’s earnings call from CNBC Threads is not the reason why Meta’s stock is up, Ritholtz’s Josh Brown from CNBC Final Trades: GM, Charter, Live Nation & more from CNBC
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Trade Brains
JULY 27, 2023
Jindal Steel & Power vs Jindal Stainless: The shares of various steel companies rallied in the financial year 2020-21 as they announced record earnings because of volume growth and margin expansion. The steel stocks are in focus again with many companies giving multi-bagger returns to their shareholders. Are you eying any steel stock? How about the two Jindal companies?
Wealth Management
JULY 27, 2023
As a former Merrill ACTM chairperson, Andy Ferguson had an acute view of the changes taking place at the firm. He shares how that influenced his decision to opt for independence over Merrill’s retire-in-place program.
Calculated Risk
JULY 27, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Danielle Hale: Weekly Housing Trends View — Data Week Ending July 22, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 8%. This week marks a 5th consecutive annual decline in the number of homes actively available for sale. • New listings–a measure of sellers putting homes up for sale–were down again this week, by 18% from one year ago.
Wealth Management
JULY 27, 2023
Google may be at the end of reducing its real estate footprint, reports CoStar. Non-Traded REIT fundraising rebounded to $597 million in June, according to Robert A Stanger & Co. These are among the must reads from around the real estate investment world to end the week.
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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
JULY 27, 2023
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, Personal Income and Outlays, June 2022. The consensus is for a 0.4% increase in personal income, and for a 0.4% increase in personal spending. And for the Core PCE price index to increase 0.2%. PCE prices are expected to be up 3.1% YoY, and core PCE prices up 4.2% YoY. • At 10:00 AM, University of Michigan's Consumer sentiment index (Final for July).
Wealth Management
JULY 27, 2023
Municipal securities issued for Brightline, the privately-run passenger rail company, have returned as much as about 20% this year, far out pacing a 5.5% gain for high-yield municipal bonds.
Calculated Risk
JULY 27, 2023
The DOL reported : In the week ending July 22, the advance figure for seasonally adjusted initial claims was 221,000 , a decrease of 7,000 from the previous week's unrevised level of 228,000. The 4-week moving average was 233,750, a decrease of 3,750 from the previous week's unrevised average of 237,500. emphasis added The following graph shows the 4-week moving average of weekly claims since 1971.
Integrity Financial Planning
JULY 27, 2023
For many retirees, reminiscing about their childhood can be a soothing and nostalgic experience. It’s a journey back to simpler times when life was less complicated and technology had not yet permeated every aspect of living. Let’s take a walk down memory lane and revisit some of those vivid memories that might be tucked away in the corners of your mind and heart.
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.
Wealth Management
JULY 27, 2023
Any renewals of the Opportunity Zone program would have to be enacted by a divided Congress, but real estate industry experts are cautiously optimistic.
A Wealth of Common Sense
JULY 27, 2023
A reader asks: Can you speak to if you think the market is skewed toward benefiting the large players more than the small players if not being downright rigged against the small players? There’s a movie coming out this fall about the Gamestop saga called Dumb Money: Nick Sapienza joined me on the show to go over questions about expected returns in financial markets, setting expectations for your financial plan, the.
The Irrelevant Investor
JULY 27, 2023
Today’s Compound and Friends is brought to you by J.P. Morgan Asset Management: See here for more information on JP Morgans’s suite of ETF products. On today’s show, we discuss: JC’s chart storm – see our latest TCAF YouTube video for all of JCs visuals No one is really embracing this rally as an upward new bull market, says Fundstrats Tom Lee After a misjudged first half, strategists face.
Alpha Architect
JULY 27, 2023
Running regressions on past returns is a great tool for academic researchers who understand this approach's nuance, assumptions, pitfalls, and limitations. However, when factor regressions become part of a sales effort and/or are put in the hands of investors/advisors/DIYers, "the tool can quickly turn you into a fool." Regression is a tool that can turn you into a fool was originally published at Alpha Architect.
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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.
Wealth Management
JULY 27, 2023
It’s based on the idea that you should be current in all areas of your clients’ financial lives, not just their investments.
Validea
JULY 27, 2023
In this episode we speak with ReSolve Asset Management CIO Adam Butler about how he manages his personal portfolio. We discuss how Adam builds a portfolio of uncorrelated return streams to optimize both return and risk. We also cover how to view historical data, how investors focus on tracking error changes portfolio theory, leverage, leaving money to children and a lot more.
Wealth Management
JULY 27, 2023
How floating rate direct loans have thrived in past periods of rising interest rates and market volatility.
Advisor Perspectives
JULY 27, 2023
Mortgage rates are the highest they’ve been in over 30 years, keeping home affordability in unprecedented territory. However, mortgage rates above 7% aren’t the only factor keeping home prices high.
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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!
Wealth Management
JULY 27, 2023
Private letter ruling examines how to effectively consolidate through a Section 507(b)(2) transfer.
Indigo Marketing Agency
JULY 27, 2023
As a financial advisor, engaging in fee conversations with prospective clients can be challenging—and sometimes downright awkward! There are those who will focus solely on what you charge and overlook the broader value of how you can help. Others are convinced that they can DIY their financial plan for free. To overcome the fee hurdle, it is essential to redirect these conversations toward the value propositions you offer.
Walkner Condon Financial Advisors
JULY 27, 2023
Occasionally we like to inform our clients about what is going on at Walkner Condon, as we have some exciting updates to share with you. Nate and Clint have recorded a podcast on these items, but we also wanted to offer it in written form as well. Staff Changes We bid goodbye to Most Mico last week. She was a great fit in an administrative role for us during her tenure.
Calculated Risk
JULY 27, 2023
From the NAR: Pending Home Sales Rose 0.3% in June, First Increase in Three Months Pending home sales registered a modest increase of 0.3% in June from the previous month – the first increase since February – according to the National Association of REALTORS®. The South and West posted monthly losses, while sales in the Northeast and Midwest grew. All four U.S. regions saw year-over-year declines in transactions.
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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.
Advisor Perspectives
JULY 27, 2023
Our emerging market debt valuation metrics across all but the U.S. interest rate dimension remain unambiguously attractive. In our Quarterly Valuation Update, we provide our Q2 assessment.
Validea
JULY 27, 2023
In this episode we speak with ReSolve Asset Management CIO Adam Butler about how he manages his personal portfolio. We discuss how Adam builds a portfolio of uncorrelated return streams to optimize both return and risk. We also cover how to view historical data, how investors focus on tracking error changes portfolio theory, leverage, leaving money to children and a lot more.
Advisor Perspectives
JULY 27, 2023
In the week ending July 22, seasonally adjusted initial jobless claims was at 221,000, a decrease of 7,000 from the previous week's unrevised figure. Initial claims have now fallen for three straight weeks and are currently at their lowest level since February. This latest reading came in below the forecast of 235,000.
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