The Reformed Broker
MAY 26, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Dror Poleg, and Downtown Josh Brown discuss Nvidia’s ascent, the AI explosion, the future of work, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods! Listen here: Apple podcasts Spotify podcasts Google podcasts Everywhere else!
The Big Picture
MAY 26, 2023
I joined Pete Dominick to discuss the Debt Ceiling, Inflation, markets, and more. I pop into the pod around the 30-minute mark. (Before that, Pete discusses how his teenage daughter got scammed out of $5k by a fake border police grift, and why there is a sort of happy ending). We also discuss my thesis of the “ Disloyal Opposition ” as it applies to Debt Ceilings, fiscal stimulus, and even vaccines.
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Abnormal Returns
MAY 26, 2023
The biz Test-driving the New York Times audio app. (lefsetz.com) AI-generated podcasts are coming. (wired.com) Startups Eric Newcomer talks with Sarah Tavel of Benchmark Capital. (newcomer.co) Carolyn Levy and Jessica Livingston talk with Y Combinator founder Paul Graham. (open.spotify.com) Patrick O'Shaughnessy talks with Henry Schuck is the founder and CEO of ZoomInfo.
The Big Picture
MAY 26, 2023
My 3-day weekend morning reads: • Adidas After Yeezy : The partnership with Ye, formerly known as Kanye West, was the stuff of sneakerhead legend—and its demise has the shoe company scrambling to replace nearly half of its profits. ( Businessweek ) • What US Cities Pay the Most (and Least) for Everyday Jobs : From accountants to nurses to data scientists, the same job can deliver about 50% more pay if you’re willing and able to relocate. ( Bloomberg ) see also How some people get away with doing
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.
Nerd's Eye View
MAY 26, 2023
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that while banks have been able to attract a younger and more diverse set of financial advisors compared to the rest of the industry, thanks in part to their built-in referral stream, a relative lack of independence and dated technology could lead some of their advisors to explore options with independent RIAs.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
MAY 26, 2023
The BEA released the Personal Income and Outlays report for April: Personal income increased $80.1 billion (0.4 percent at a monthly rate) in April , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $79.4 billion (0.4 percent) and personal consumption expenditures (PCE) increased $151.7 billion (0.8 percent).
Wealth Management
MAY 26, 2023
Office REITs are trading at their lowest levels since 2009, reports Bloomberg. Crow Holdings formed a $2.6 billion joint venture focused on retail assets. These are some must reads from around the real estate investment world heading into the weekend.
A Wealth of Common Sense
MAY 26, 2023
As of Wednesday’s close, NVIDIA had a market cap of $755 billion. Just one day later, the chipmaker sported a market cap of $939 billion. That one day gain of $184 billion itself is bigger than the market caps of companies like Nike, Comcast, Disney and Netflix. It’s hard to believe this is a stock that had lost two-thirds of its value from all-time highs during the tech wreck last year: Those losses have all.
Wealth Management
MAY 26, 2023
Milemarker CEO Kyle Van Pelt assured attendees at the WealthStack conference they shouldn’t be expected to run their firms and have the responsibilities and knowledge of a CTO. “You should be advisors,” he said.
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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
MAY 26, 2023
Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through April 2023. CPI Shelter was up 8.1% year-over-year in April, down from 8.2% in March. Housing (PCE) was up 8.4% YoY in April , up from 8.3% in March. Since asking rents are soft and Year-over-year Rent Growth Continues to Decelerate this means both CPI and PCE measures are currently overstating actual inflation.
Wealth Management
MAY 26, 2023
Honeytree Investment Management CEO Liz Simmie admitted that the ongoing ESG conversation is a “hot mess” but she would still encourage clients to dig deeper into the strategy.
NAIFA Advisor Today
MAY 26, 2023
NAIFA’s 10 th annual Congressional Conference was an overwhelming success, demonstrating that NAIFA is the One and Only when it comes to our unmatched advocacy influence. More than 500 insurance and financial advisors from all over the United States gathered in Washington, D.C., to receive policy briefings and grassroots advocacy instruction, hear words of encouragement from distinguished guests, and take NAIFA's advocacy message directly to their elected officials on Capitol Hill.
MarketWatch
MAY 26, 2023
Cansortium Inc. CNTMF, a medical cannabis company that operates in Texas, said Friday it’s disappointed in the failure this week of two bills in the state legislature to expand medical marijuana in Texas. “For decades, cannabis prohibition has funneled thousands of Texans into the criminal justice system,” the company said. “With more than 80% of Texans supporting the decriminalization of cannabis and the legalization of medical cannabis in the state, we must continue to call on our elected lead
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.
Advisor Perspectives
MAY 26, 2023
The S&P 500 closed out Friday with its highest finish since August. The index is currently up 9.53% year to date and is 12.32% below its record close from January 3, 2022.
Wealth Management
MAY 26, 2023
Swenson is leaving Dynasty Financial Partners after building the platform for more than 12 years, along with Chief Client Officer Austin Philbin.
Integrity Financial Planning
MAY 26, 2023
You may have heard the term “Feng Shui” in the context of interior design and home and building design. But what is it exactly? Where does it come from? And what does it actually accomplish? Let’s dive into the history of Feng Shui. Feng Shui is a Chinese philosophical system of harmonizing and arranging buildings, objects, and spaces in order to promote good energy or “Chi.
Wealth Management
MAY 26, 2023
JPMorgan Chase offered full-time or transitional roles to almost 85% of the nearly 7,000 employees still working at First Republic when it collapsed.
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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.
Alpha Architect
MAY 26, 2023
Not accounting for intangibles affects not just value metrics but other measures (such as profitability) that often scale by book value or total assets, both of which are affected by intangibles—and investors recognize at least some of their value. Intangible-Adjusted Profitability Factor was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Wealth Management
MAY 26, 2023
Launches, acquisitions and affiliations were all announced in the RIA landscape this week, as were some key people moves.
MarketWatch
MAY 26, 2023
Goldman Sachs economists Alec Phillips and Tim Krupa say the Treasury’s early June deadline for the debt ceiling looks “very accurate, in our view.” Their calculation is that by June 2, the Treasury’s room under the debt ceiling will barely exceed $30 billion — the minimum cash the Treasury has targeted in prior debt-limit projections — and entirely dry by June 9.
Leading Advisor
MAY 26, 2023
I have six days available this summer for a live custom-tailored coaching day within the following weeks; June 12 June 26 July 3 July 17… The post Turbo-charge your business plans with a live custom-tailored coaching day appeared first on Leading Advisor - Simon Reilly.
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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!
MarketWatch
MAY 26, 2023
Fed funds futures traders now see a 57.4% likelihood that the Federal Reserve will lift rates again in June after April’s personal consumption expenditures index showed inflation stuck in the 4% to 5% range. The likelihood of another quarter-of-a-percentage-point rate hike in June is up from 51.7% a day ago, and would take the Fed’s main benchmark rate target to between 5.25-5.5%, according to the CME FedWatch Tool.
Advisor Perspectives
MAY 26, 2023
According to the company’s investor relations page on this REIT, Simon Property Trust (SPG) is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment, and mixed-use destinations and an S&P 100 company.
MarketWatch
MAY 26, 2023
Broadcom Inc. shares AVGO surged to new records and led gainers on the S&P 500 index SPX Friday following positive commentary ahead of the chip maker’s earnings on Thursday. Shares rallied 12% to a record intraday high of $814.98, and finished up 11.5% at a record high of $812.73, with the previous high being this past Thursday’s $728.80. March 26, 2020, when shares rose 11.8%.
Wealth Management
MAY 26, 2023
Also, Zoe Financial selects BridgeFT WealthTech API and Daffy announces its open API for developers.
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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.
MarketWatch
MAY 26, 2023
Icahn Enterprises LP’s stock IEP fell another 3% Friday to extend its month-to-date losses to 61%. The stock has been under pressure since a May 2 report by short-selling firm Hindenburg Research that accused Icahn’s publicly traded investment vehicl eof inflating asset values and causing his company to trade at a large premium. The report from May 2 has cost IEP more than $10.9 billion in lost market cap.
Calculated Risk
MAY 26, 2023
From BofA: Overall, today's higher than expected personal income and outlays and durable goods print along with the wider than expected advance goods trade deficit decreased our 2Q US GDP tracking from 1.1% q/q saar to 0.9% q/q saar. [May 26th estimate] emphasis added From Goldman: Personal income increased as expected and personal spending increased by more than expected in April.
MarketWatch
MAY 26, 2023
Growing optimism that a debt-ceiling deal can be reached has led to a dramatic plunge in the rates of Treasury bills maturing between June 1-8. The yield on the 3-month bill issued on March 2 and maturing on June 1 was 5.586% as of 11 a.m. Eastern time Friday, down 166.8 basis points from Wednesday’s closing level of 7.254%, according to Tradeweb. The rate on the 1-month T-bill, issued on May 9 and maturing on June 6, was at 5.649%, down 139.2 basis points from 7.041% two days ago.
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