Fri.Jun 07, 2024

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Podcast links: overcoming perfectionism

Abnormal Returns

Listening The best podcasts of 2024 including 'Stick the Landing' from The Ringer. (time.com) Reese’s Book Club has an audio home on Apple Books. (theverge.com) Economy Ezra Klein talks with Annie Lowery about the growing economic disconnect. (podcasts.apple.com) Jerusalem Demsas talks with Natalia Emanuel on whether remote work actually works for women.

Economy 258
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Weekend Reading For Financial Planners (June 8-9)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that recent surveys indicate that consumers continue to trust human financial advisors more than Artificial Intelligence (AI)-powered tools. Nonetheless, respondents (particularly those in younger generations) do not see this as an either-or choice, but rather anticipate benefitting from working with human advisors who leverage AI tools for certain tasks (e.g., detecting fraud

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Friday links: a dynamic process

Abnormal Returns

Markets Why the ranks of 'degens' are growing. (wsj.com) How to avoid the meme stock drama. (morningstar.com) Some math that traders need to know. (scheplick.com) Crypto What Robinhood ($HOOD) wants with BitStamp. (blockworks.co) Autos The car market is normalizing. (nytimes.com) Unsold Tesla ($TSLA) inventory is piling up. (sherwood.news) Tourism How much does tourism help you understand about another country?

Math 252
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Comments on May Employment Report

Calculated Risk

The headline jobs number in the May employment report was well above expectations, however March and April payrolls were revised down by 15,000 combined. The participation rate and employment population ratio decreased, and the unemployment rate increased to 4.0%. Construction employment increased 21 thousand and is now 613 thousand above the pre-pandemic level.

Numbers 127
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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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How Wealth Managers Can Compete With Family Offices for UHNW Clients

Wealth Management

According to the new Capgemini World Wealth Report, advisors and families offices are eyeing the same pool of ultra-wealthy clients. By working together, they could both benefit.

More Trending

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The Bottom 50%

A Wealth of Common Sense

Americans are earning more income from their investments than ever before. Here’s the data from the Wall Street Journal: Americans in the first quarter earned about $3.7 trillion from interest and dividends at a seasonally adjusted annual rate, according to the Commerce Department, up roughly $770 billion from four years earlier. That’s a whole lot of passive income.

Assets 100
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Cresset Adds $1.6B Family Office, Boosts AUM Above $52B

Wealth Management

Cresset is acquiring the Michigan-based $1.6 billion family office Connable Group. The acquisition will Cresset's AUM above $52 billion.

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A Closer Look at Full-time and Part-time Employment

Advisor Perspectives

Let's take a close look at May's employment report numbers on Full and Part-Time Employment. The latest data shows that 82.6% of total employed workers are full-time (35+ hours) and 17.

Numbers 130
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The Wrong Way To Look At Social Security

Random Roger's Retirement Planning

A bunch of quick hits from this weekends Barron's as the articles come out today. For all the worry about retirement readiness, Barrons found a survey where retirees say they are doing just fine. That's great but not really what the potential crisis is about. If there is a problem, it is with people still working who are collectively very undersaved for their retirement.

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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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Recent Pay-to-Play Case Is Cautionary Tale for Advisors and Political Contributions

Wealth Management

Political contributions can pose compliance concerns—and reputational risks—to firms in a hotly contested election year.

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Fed's Flow of Funds: Household Net Worth Increased $5.1 Trillion in Q1

Calculated Risk

The Federal Reserve released the Q1 2024 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits rose to $160.8 trillion during the first quarter of 2024. The value of directly and indirectly held corporate equities increased $3.8 trillion and the value of real estate increased $0.9 trillion. Household debt increased 2.9 percent at an annual rate in the first quarter of 2024.

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Three Things – Weekend Reading

Discipline Funds

Here are three things I think I am thinking about this weekend. I kid. It’s all one thing, but here are three thoughts on that one thing: 1) The Labor Report Was [Fill in the blank] I’ve often joked over the last 3 years that the Covid economy created a “tell your own narrative” economy. And that situation is very much intact.

Economy 86
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Merchant Looks to Double Its Balance Sheet as It Nears First Canadian Deal

Wealth Management

Merchant expects to double its network of RIAs over the next two to three years, as it continues to expand globally.

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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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Value for Money

The Better Letter

In his early days as a professional investor, Warren Buffett focused on “ cigar butt ” stocks. “If you buy a stock at a sufficiently low price, there will usually be some hiccup in the fortunes of the business that gives you a chance to unload at a decent profit, even though the long-term performance of the business may be terrible.

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The WealthStack Podcast: Preparing for the Latest SEC Cybersecurity Rules

Wealth Management

AdviserCyber's Michael Cocanower details what the pending regulations mean for RIAs.

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May Employment Report: 272 thousand Jobs, 4.0% Unemployment Rate

Calculated Risk

From the BLS : Total nonfarm payroll employment increased by 272,000 in May, and the unemployment rate changed little at 4.0 percent , the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in several industries, led by health care; government; leisure and hospitality; and professional, scientific, and technical services.

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Mike Everett, MyVest, on RIAs Driving Organic Growth and Managing Change

Wealth Management

The importance of a household approach, value addition, and effective change management strategies.

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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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Household Net Worth Q1 2024: The "Real" Story

Advisor Perspectives

As of Q1 2024, the latest Fed balance sheet indicates that household net worth has risen 171% since reaching its 2009 low. However, when adjusted for inflation, household net worth has actually increased by only 86% since the 2009 trough.

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Adjusted for Risk: Is Portfolio Diversification Overrated?

Wealth Management

Lido Advisors Chief Market Strategist Walker Williams talks about all things risk.

Portfolio 113
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Q2 GDP Tracking: 1.6% to 3.1%

Calculated Risk

From BofA: Since last week,1Q GDP tracking is up from 1.3% q/q saar to 1.6% q/q saar and 2Q GDP tracking is down two-tenths to 1.6%. [June 7th estimate] emphasis added From Goldman: Wholesale inventories increased somewhat below consensus expectations and the preliminary report. We lowered our Q2 GDP tracking estimate to +2.1% (qoq ar) , reflecting weaker details in yesterday’s trade report.

Sales 72
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The Big Four Recession Indicators

Advisor Perspectives

Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process.

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

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.

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The "Home ATM" Mostly Closed in Q1

Calculated Risk

Today, in the Real Estate Newsletter: The "Home ATM" Mostly Closed in Q1 Excerpt: During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Sales 69
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WealthStack Roundup: Advyzon Investment Management Names Scott Smith Chief Revenue Officer

Wealth Management

Ken Denman has also joined TIFIN's Board of Directors.

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The Big Four Recession Indicators: May Employment

Advisor Perspectives

There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of those indicators, nonfarm employment. May saw a 272,000 increase in total non-farm payrolls and the unemployment inched up to 4.0%.

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Johnson Financial Group: Rules-Based Rebalancing and Phasing Out Cash

Wealth Management

JFG’s CIO Dominic Ceci discusses the $10 billion RIA’s rules-based rebalancing approach, the opportunity he sees in reinsurance, and the decision to phase out the cash allocation over the next year.

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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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S&P 500 Snapshot: Rebounds 1.3% from Last Week

Advisor Perspectives

The S&P 500 rebounded from last week, finishing up 1.32% from a week ago. The index is currently up 12.74% year to date and has recorded a new all-time high 25 times this year.

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Auto Stocks: The Fusion of International and Indian Brands in India’s Motorcycle Sector

Trade Brains

Auto Stocks: The Indian motorcycle industry is the favoured and always beloved Industry among commuters and enthusiasts alike. In most tier 2 and tier 3 cities it is the primary mode of transportation for people with a budget. This industry is experiencing a new wave of excitement with the entry of foreign automobile companies partnering with well-known Indian brands.

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A Stealth Tax on Prosperity

Advisor Perspectives

While governments responsibly issue debt to fund public investment and dampen the business cycle, the US federal government has borrowed at an increasingly prolificate pace over recent decades.

Taxes 59