The Big Picture
FEBRUARY 2, 2023
My morning train WFH reads: • How Extreme Bets Fueled an $11.4 Billion Fortune : A look inside BlueCrest reveals Michael Platt’s many acts — including outsize returns and some harrowing losses. ( Bloomberg ) • Stock, Bond and Crypto Investors Call Fed’s Bluff on Interest Rates : Many are skeptical as central bank says battle against inflation isn’t over. ( Wall Street Journal ) see also Wall Street: We Want Lower Rates.
The Reformed Broker
FEBRUARY 2, 2023
Final Trades: Uber, Palo Alto, Albemarle & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
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Abnormal Returns
FEBRUARY 2, 2023
Books Insights from Bent Flyvbjerg's new book “How Big Things Get Done: The Surprising Factors That Determine the Fate of Every Project, from Home Renovations to Space Exploration and Everything In Between.” (wsj.com) Insights from Dacher Keltner's new book "Awe: The New Science of Everyday Wonder and How It Can Transform Your Life." (noemamag.com) Technology Why AR/VR seems to be getting pushed farther into the future.
Clever Girl Finance
FEBRUARY 2, 2023
When we think of someone being rich vs wealthy, we might think it’s the same thing but it’s not. For some reason, the words rich and wealthy are often incorrectly used to describe the same thing. The two words might seem like synonyms, but they are completely different. It’s hard to spot the difference, but being rich and being wealthy are not equal.
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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.
Abnormal Returns
FEBRUARY 2, 2023
Markets The expected return to a 60/40 portfolio strategy rose throughout 2022. (morningstar.com) European stocks have been underperforming the U.S. since the GFC. Some signs that things are changing. (ft.com) Strategy Some questions to ask when an investment seems too good to be true. (ritholtz.com) Insights from Lee Freeman-Shore's "The Art of Execution: How the world's best investors get it wrong and still make millions.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Advisor Perspectives
FEBRUARY 2, 2023
Blackstone Inc.’s $69 billion real estate trust hit a monthly redemption limit in January, as the firm’s crown jewel continues to wrestle with a line of investors seeking to get money out.
Wealth Management
FEBRUARY 2, 2023
Sanctuary’s board has named former Ladenburg Thalmann executive, and Sanctuary board member, Adam Malamed to lead the firm. Dickson has no further role at the company, according to executives.
Calculated Risk
FEBRUARY 2, 2023
Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 3.8% Below Peak; Price-to-rent index is 6.1% below recent peak Excerpt: It has been 17 years since the bubble peak. In the November Case-Shiller house price index released on Tuesday, the seasonally adjusted National Index (SA), was reported as being 61% above the bubble peak in 2006.
Wealth Management
FEBRUARY 2, 2023
The president of Kestra Holding’s Bluespring Wealth Partners discusses the firm’s mission of acquiring independent wealth management practices, and shares his unique perspective and advice on M&A, independence, business ownership and more.
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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.
MarketWatch
FEBRUARY 2, 2023
The Dow Jones Industrial Average's selloff, in the face of a big rally in the broader stock market, is mostly the fault of one company's stock. UnitedHealth Group Inc. shares tumbled 5.7% in afternoon trading, in the wake of lower-than-expected Medicare Advantage rates proposed in 2024. The health insurer's stock price drop of $28.41, which would be the second-biggest in its history behind only the record $47.00 selloff on March 16, 2020, was shaving about 187 points off the Dow's price.
Wealth Management
FEBRUARY 2, 2023
Frank Cohen, a nearly three-decade firm veteran, will cede leadership of Blackstone’s “Core+” real estate business to Wesley LePatner, the group’s global chief operating officer, according to Blackstone executives.
MarketWatch
FEBRUARY 2, 2023
President Joe Biden on Thursday said Brian Deese, who heads the White House's National Economic Council, is departing. Biden said in a statement that he's grateful to Deese's family "for letting us borrow Brian" and he knows "they're excited to welcome him home." Lael Brainard, the vice chair of the Federal Reserve, has emerged as a contender to take Deese's job, though others are also under consideration.
Calculated Risk
FEBRUARY 2, 2023
The DOL reported : In the week ending January 28, the advance figure for seasonally adjusted initial claims was 183,000 , a decrease of 3,000 from the previous week's unrevised level of 186,000. The 4-week moving average was 191,750, a decrease of 5,750 from the previous week's unrevised average of 197,500. emphasis added The following graph shows the 4-week moving average of weekly claims since 1971.
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.
MarketWatch
FEBRUARY 2, 2023
The Nasdaq posted its best day of gains since November on Thursday, as stock-market bulls cheered the Federal Reserve's decision a day before to raise interest rates by a smaller 25 basis point increment and embraced hints that a pause in rate hikes could be coming in a few months. The S&P 500 index rose about 1.5%, while the Nasdaq Composite Index jumped 3.3%, its best daily percentage gain since Nov. 30, according to Dow Jones Market Index.
Elevating Your Business
FEBRUARY 2, 2023
65. Productize Your Services It's easier to sell a product you can see, right? Start by productizing your services. It's not consulting or coaching. it's a program called Book MORE Clients. Include images of the thin books (vs. promoting an ebook or report) and images of CD (for all the different video trainings involved), etc. The post 251 Small Business Marketing Tips in a Bad Economy appeared first on Female Financial Advisor Coach.
MarketWatch
FEBRUARY 2, 2023
U.S. stocks opened higher Thursday, with the technology-heavy Nasdaq Composite extending its sharp rise in the wake of the Federal Reserve slowing its pace of interest rate hikes. The Dow Jones Industrial Average edged up 0.1% soon after the opening bell, while the S&P 500 rose 1% and the Nasdaq Composite gained 2%, according to FactSet data, at last check.
Calculated Risk
FEBRUARY 2, 2023
On Friday at 8:30 AM ET, the BLS will release the employment report for January. The consensus is for 185,000 jobs added, and for the unemployment rate to increase to 3.6%. There were 223,000 jobs added in December, and the unemployment rate was at 3.5%. From BofA economists: "Nonfarm payrolls likely rose by 225k in January, little changed from the December increase.
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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.
A Wealth of Common Sense
FEBRUARY 2, 2023
A reader asks: Without getting into the politics of throwing the U.S. government into default the threat is very real. How bout a discussion of how should retirees position themselves to protect their portfolio? Us old guys don’t have years to recover from a political sabotage of the markets and the economy. You know old folks read and listen to your stuff too!
Alpha Architect
FEBRUARY 2, 2023
Partial exposure to domestic equities. Partial exposure to international equities. No exposure to REITs. Partial exposure to commodities. No exposure to intermediate-term bonds. DIY Trend-Following Allocations: February 2023 was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Indigo Marketing Agency
FEBRUARY 2, 2023
Last month, Indigo’s very own Digital Marketing Consultant, Katie Cress, was asked to speak at the Heath Walters’ Financial Innovation Summit in Tampa, Florida. With over 18 years of sales and marketing experience, Katie was able to share her industry knowledge with financial advisors looking to leverage their marketing and grow their businesses. For those who couldn’t make it to the conference, we thought we’d share Katie’s biggest takeaways here.
The Irrelevant Investor
FEBRUARY 2, 2023
Today’s episode is sponsored by China Last Night: See here for daily insights into China’s capital markets On today’s show, we discuss: SPX at 20-day highs SPX earnings estimates China reopening White-collar layoffs GS v MS earnings Amazon earnings More cryptos collapse Apple VR Billy McFarland is back Recommendations: Bill Burr on Fly on the Wall Your Honor S2 Nick Offerman and Murray Bartle.
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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
FEBRUARY 2, 2023
Shares of Desktop Metal Inc. DM jumped 6.5% toward a two-month high in premarket trading Thursday, after the Boston-based 3D printing company said it would lay off about 15% of its employees and close four facilities. The moves are part of a cost-cutting plan, of which the company doubled its targeted annual savings to $100 million in 2023. The job cuts could affect about 205 employees, as the company had 1,370 employees at the end of 2021, according to the latest annual report.
Wealth Management
FEBRUARY 2, 2023
What to focus on when working with Gen X prospects and clients.
MarketWatch
FEBRUARY 2, 2023
Shares of Hanesbrands Inc. HBI plummeted 20.7% in morning trading Thursday, putting them on track for the worst one-day performance in nearly 15 years, after the T-shirt and underwear seller eliminated its dividend and warned of a surprise first-quarter loss. The company reported before the opening bell fourth-quarter adjusted profit, which excludes nonrecurring items, of 7 cents a share, down from 44 cents a share, a year ago and below the FactSet consensus of 8 cents, while sales dropped 15.9%
WiserAdvisor
FEBRUARY 2, 2023
A recession is defined as a temporary period of economic downturn. A country is considered to be in recession if its Gross Domestic Product (GDP) has witnessed negative economic growth for two consecutive quarters. An economy in a recession may experience unemployment, job losses, business closures, declining incomes, low trade, industrial activity, etc.
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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
FEBRUARY 2, 2023
Shares of ConocoPhillips COP edged up 0.3% in premarket trading, after the energy exploration and production company reported fourth-quarter profit and production that rose, as realized prices increased, but fell a bit shy of expectations. Net income rose to $3.2 billion, or $2.61 a share, from $2.6 billion, or $1.98 a share, in the year-ago period.
Wealth Management
FEBRUARY 2, 2023
Treating the highly unlikely as impossible is a mistake.
MarketWatch
FEBRUARY 2, 2023
Shares of Gilead Sciences Inc. GILD rose more than 5% in the extended session Thursday after the pharma company reported fourth-quarter earnings and sales above Wall Street expectations, saying higher sales elsewhere took the sting of falling revenue for its COVID-19 drug. Gilead earned $1.6 billion, or $1.30 a share, compared with $376 million, or 30 cents a share, in the year-ago period in 2021.
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