The Big Picture
OCTOBER 5, 2023
“If you want to read a moral condemnation of crypto theft, you can get that anywhere. You go to Michael Lewis for character and story.” – Matt Levine Michael Lewis’s new book “ Going Infinite: The Rise and Fall of a New Tycoon ” came out this week. I got a copy earlier after signing an NDA that I would not disclose anything about it until after the publication date, which was Tuesday, October 3rd.
Abnormal Returns
OCTOBER 5, 2023
Books An excerpt from "Right Kind of Wrong: The Science of Failing Well" by Amy Edmondson. (behavioralscientist.org) An excerpt from "Eve: How the Female Body Drove 200 Million Years of Human Evolution" by Cat Bohannon. (theatlantic.com) An excerpt from "The Cost of Free Land: Jews, Lakota and an American Inheritance" by Rebecca Clarren. (politico.com) Academic fraud Behavioral science has a credibility problem.
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Nerd's Eye View
OCTOBER 5, 2023
For many financial advisors, financial planning advice traditionally focuses on optimization: tax-efficient, continually rebalanced portfolios are often designed to maximize a client's wealth throughout retirement. Such optimization can serve as the backbone of an advisor's value proposition, providing a bottom-line analysis that communicates why those (not insubstantial) fees are worthwhile at the end of the day.
Abnormal Returns
OCTOBER 5, 2023
Housing Mortgage rates are at a 23-year high, per Freddie Mac. (cnn.com) 8% 30-year mortgage rates are not off the table. (wsj.com) Millennials are bearing the brunt of the tight housing market. (on.ft.com) Strategy Why some people like to research and hold individual stocks instead of funds. (investmenttalk.co) The only reaction to an investment mistake is to admit it.
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.
Carson Wealth
OCTOBER 5, 2023
By Beth Schanou, JD, CExP, Senior Wealth Planner Who wants to spend an afternoon thinking about their mortality? No one, which is why more than half of Americans don’t even have a will. The foundation of your estate plan is a Last Will and Testament. Without a will, you are leaving the disposition of your assets and the guardianship of your minor children to a court.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
OCTOBER 5, 2023
TwinFocus works with ultra-high-net-worth individuals, many of whom built first generation wealth. The firm is trying to bring them real estate investment opportunities while avoiding today’s high leverage costs.
Calculated Risk
OCTOBER 5, 2023
The Census Bureau and the Bureau of Economic Analysis reported : The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $58.3 billion in August , down $6.4 billion from $64.7 billion in July, revised. August exports were $256.0 billion, $4.1 billion more than July exports. August imports were $314.3 billion, $2.3 billion less than July imports. emphasis added Click on graph for larger image.
Wealth Management
OCTOBER 5, 2023
With 2023 mega-advisor moves already outpacing 2022, this episode explores case studies to answer: What was needle-moving enough to leave the firms where they built phenomenal businesses? What can we all learn from this activity? What is the impact on recruiting and the industry at large? And more.
Trade Brains
OCTOBER 5, 2023
Best Biofuel Stocks in India : Biofuels are renewable energy sources obtained from living organisms. Biodiesel, Corn ethanol, and biogas from organic byproducts are the most common biofuels. Renewable energy lessens the demand for a limited amount of nonrenewable resources such as fossil fuels. Biofuels have the ability to totally replace fossil fuels and decarbonize the transportation sector.
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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
OCTOBER 5, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Hannah Jones: Weekly Housing Trends View — Data Week Ending Sep 30, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 2.6%. During the past week, we observed the 15th successive weekly drop in the number of homes available for sale relative to the previous year.
Wealth Management
OCTOBER 5, 2023
Nightingale struck a deal to sell assets in order to pay back CrowdStreet Investors, reported Bisnow. Forbes listed 25 real estate tycoons among its latest list of billionaires. These are among the must reads from the real estate investment world to end the week.
Trade Brains
OCTOBER 5, 2023
Fundamental Analysis of Siyaram Silk Mills: In the ever-changing world of fashion, the textile industry plays a big part in deciding what clothes we wear. India is well-known for making clothes and fabrics, with a long history of expertise in this field. Within this industry, there’s a stock called Siyaram Fashion Mills that has consistently delivered returns to its shareholders since its listing.
Wealth Management
OCTOBER 5, 2023
Three wealth management veterans debate innovation, M&A, and the—real—advantages of artificial at Nitrogen's annual conference.
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.
A Wealth of Common Sense
OCTOBER 5, 2023
Nick Maggiulli joined me again this week to talk about questions on dollar cost averaging, locking in higher bond yields and how much leverage is enough for your personal balance sheet. Further Reading: The Bond Bear Market & Asset Allocation 1Maybe I would change my mind if long-term rates ever get to 7-8%. The post Experts vs. Amateurs appeared first on A Wealth of Common Sense.
Wealth Management
OCTOBER 5, 2023
Roughly one-third to half of the more than 3,300 US-listed ETFs are likely unable to cover their annual operating costs, according to a Citigroup Inc. analysis.
Million Dollar Round Table (MDRT)
OCTOBER 5, 2023
By Clay Gillespie, CFP, CLU There are myriad ways to prepare clients for a fulfilling retirement. Clients accumulate assets for many years in the hope of retiring and living comfortably, but that’s only part of it. While clients may think everyone is happy and excited about retirement, it also can be one of the biggest stressors in their lives because their self-worth is tied to what they do for a living.
Wealth Management
OCTOBER 5, 2023
Genstar, which first took a majority stake in Cetera in 2018, remains the majority shareholder in the broker/dealer network.
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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.
The Irrelevant Investor
OCTOBER 5, 2023
Today’s Compound and Friends is brought to you by Birddogs: Go to birddogs.com/COMPOUND or enter code COMPOUND for a free dad hat. On today’s show, we discuss: Jay Powell on instagram Questions, shrugs, and what comes next: A quarter century of change AIs $200B question The AI boom-bust FTX employees found Alameda’s secret backdoor months before collapse Listen here: Charts: Recommendations.
Wealth Management
OCTOBER 5, 2023
Protecting the average retiree in a confusing landscape of investment planning vs. financial planning.
Calculated Risk
OCTOBER 5, 2023
The DOL reported : In the week ending September 30, the advance figure for seasonally adjusted initial claims was 207,000 , an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 204,000 to 205,000. The 4-week moving average was 208,750, a decrease of 2,500 from the previous week's revised average.
Wealth Management
OCTOBER 5, 2023
Despite a vast array of offerings, only a handful of strategies consistently move the needle.
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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!
Advisor Perspectives
OCTOBER 5, 2023
As Markets Insider reported, NVIDIA is the king of AI and it’s recently become the king of the stock market. But is NVIDIA still a good investment today after rising so much?
Wealth Management
OCTOBER 5, 2023
These funds saw the most money flow out of them over the past 30 days.
Carson Wealth
OCTOBER 5, 2023
No matter how few your assets or how extensive your properties, an estate plan will help you preserve your legacy and provide clarity to your surviving family. Our estate planning checklist can help you start the process and tick those important boxes on your way to confidence about the future. Fill in the form below to download the checklist: Download the checklist today to get started.
Wealth Management
OCTOBER 5, 2023
Sixty-nine new ETFs came to market last month, one of the busiest since at least 2016.
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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.
NAIFA Advisor Today
OCTOBER 5, 2023
Morris Morrison is a world-class speaker, author, and entertainer who has learned the value of choosing to tell a better story and the power that comes from the stories we live. Drawing purpose and inspiration from his faith, family, and motivation to energize individuals and communities, Morris builds stronger, smarter, and kinder human beings.
Advisor Perspectives
OCTOBER 5, 2023
In the week ending September 30, initial jobless claims inched up for a second straight week to a seasonally adjusted level of 207,000. This is an increase of 2,000 from the previous week's revised figure of 205,000 and lower than the forecast of 210,000.
Norman Marks
OCTOBER 5, 2023
My thanks to Resilience for an image that captures my view of most risk reporting: While this focuses on cyber risk, I think it is appropriate for most risk reporting to the board and top management.
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