The Big Picture
AUGUST 25, 2023
The first post-pandemic presentation I pulled together for my pal Joe Fitzgerald (we worked together in the late 2000s) was a new deck titled: Biggest Mistakes Made by UHNW Investors. In the intervening year, I updated and refined the deck, adding more examples and specific advice. below is my discussion of what the presentation will be like at the MoneyShow in Orlando on October 30.
The Reformed Broker
AUGUST 25, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Guy Spier, and Downtown Josh Brown discuss lunch with Warren Buffett, value investing, managing a hedge fund, Berkshire after Buffett, the bull case for Ferrari, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
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Abnormal Returns
AUGUST 25, 2023
The biz What some podcasting industry leaders have to say about its future. (hollywoodreporter.com) Matt Reustle and Dom Cooke on how to start a podcast the right way. (joincolossus.com) What do podcast producers do? (fastcompany.com) Spotify Spotify ($SPOT) has a white noise problem. (engadget.com) Why Anchor sold to Spotify ($SPOT) when it did. (hunterwalk.com) Marginal Revolution David Perell talks with Tyler Cowen and Alex Tabarrok about their twenty years writing the Marginal Revolution blo
Nerd's Eye View
AUGUST 25, 2023
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent CFP Board survey indicates that consumers do not expect AI tools to replace human financial advisors, but rather supplement advisors' work. Further, 87% of respondents said they would trust advice from human advisors, more than any other source of advice surveyed, and well above the 37% who said they trust generative AI tools.
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.
Abnormal Returns
AUGUST 25, 2023
Markets The stock market is kinda stuck. (allstarcharts.com) The spreads on corporate bonds are still near their recent lows. (axios.com) Strategy Why we are so prone to overconfidence. (ritholtz.com) Sentiment is cyclical, but is still difficult to profit from. (monevator.com) Finance On the prospects for an IPO revival. (ft.com) Loans are still not securities.
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Advisor Perspectives
AUGUST 25, 2023
The S&P 500 see-sawed the entire week but finished the week in the green. The index rose 0.82% from last Friday, ending a 3-week streak of losses. The index is currently up 15.21% year to date and is 8.15% below its record close from January 3, 2022.
Calculated Risk
AUGUST 25, 2023
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Due to changes at the CDC, weekly cases are no longer updated. After the first few weeks, the pandemic low for weekly deaths had been the week of July 7, 2021, at 1,690 deaths (until recently). Recently hospitalizations have almost doubled from a low of 5,150. COVID Metrics Now Week Ago Goal Hospitalized 2 ?
Wealth Management
AUGUST 25, 2023
In other RIA news, Wealthspire expanded into Denver, Hightower supported the acquisition of Trellis Advisors by partner firm Highland Private Wealth, and Apollon, Kestra PWS and Steward onboarded new advisors.
Integrity Financial Planning
AUGUST 25, 2023
Pickleball can be a great way to stay active while in retirement. Whether you’re an active player or you’re new to the game, this article is for you. This comprehensive review delves into three strategies, each tackling a unique aspect of pickleball. 1. The Importance of Communication in Pickleball Doubles Matches In pickleball doubles, you’ll find that successful collaboration hinges on effective communication with your partner.
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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.
A Wealth of Common Sense
AUGUST 25, 2023
Baby boomers are by far one of the wealthiest generations the world has ever seen. The fact that there are more than 70 million people in this demographic helps but it’s also true that this is one of the luckiest generations in history when it comes to returns on financial assets. These are the total returns on stocks, bonds and housing1 since 1983: Stocks +7,930% Bonds +1,060% Housing +515% Those are annual retur.
Alpha Architect
AUGUST 25, 2023
Wall Street’s product machine is continuously pumping out fairy tales; structured products should be avoided. Structured Notes Are Financial Fairy Tales was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Wealth Management
AUGUST 25, 2023
The higher court ruling overturns one that found in the online broker's favor in early 2022.
Discipline Funds
AUGUST 25, 2023
Jerome Powell spoke at Jackson Hole this morning and offered a measured message about the past, present and future path of inflation and interest rates. Here are some highlights and general conclusions from his remarks: Inflation causes. I enjoyed his remarks on the causes of inflation as being both supply and demand driven. Many of the media narratives in recent years depicted this as one or the other when the empirical evidence shows that there was excessive demand (largely from excessive gove
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
AUGUST 25, 2023
In June, Wells Fargo paid the affected accounts $39 million in reimbursed fees with interest.
Calculated Risk
AUGUST 25, 2023
From BofA: Altogether, this decreased our 2Q GDP tracking estimate by one-tenth to 2.4% q/q saar (seasonally adjusted annual rate) and increased it by a one-tenth for 3Q to 2.8% q/q saar [Aug 24th estimate] emphasis added From Goldman: [W]e left our Q3 GDP tracking estimate unchanged at +2.6% (qoq ar). Our Q3 domestic final sales growth forecast stands at +2.7%.
Wealth Management
AUGUST 25, 2023
Thoughtful succession planning can pave the way for a smooth transition and a thriving future.
Calculated Risk
AUGUST 25, 2023
Today, in the Calculated Risk Real Estate Newsletter: Forecast: Multifamily Starts will Decline Sharply A brief excerpt: In 2021 there was a sharp increase in rents. This was due to a surge in household formation during the pandemic. Over time, housing economist Tom Lawler and I unraveled the household formation mystery in a series of articles (links at the bottom of this post).
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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.
Carson Wealth
AUGUST 25, 2023
Over the last year or so, we’ve all heard the chatter over an impending recession. Some people were convinced that the economy was in trouble and recession was inevitable. But then a funny thing happened. The economy has rebounded, and the stock market is performing really well. Consumers are spending, as are businesses, and the future is looking really strong.
Tobias Financial
AUGUST 25, 2023
Embarking on your investment journey can be both exciting and daunting. If you find yourself with questions about where to begin, you’re not alone. Whether you’re fresh out of college or advancing in your career, understanding the basics of investing can lay a strong foundation for your financial future. Our Chief Investment Officer, Matthew Saneholtz , CFA, CFP®, EA was quoted on CNBC sharing his insights on the key steps to consider as a first-time investor.
WiserAdvisor
AUGUST 25, 2023
Tax considerations play a crucial role in retirement planning, as they can significantly impact your income and savings. Retirees must carefully strategize to minimize taxes during their non-working years. One practical approach is to convert traditional retirement accounts, like a 401(k) or a traditional IRA, into a Roth IRA. However, it is important to consider the immediate tax liabilities that come with converting to a Roth account.
Calculated Risk
AUGUST 25, 2023
Fed Chair Powell's speech here on YouTube. From Fed Chair Powell: Inflation: Progress and the Path Ahead It is the Fed's job to bring inflation down to our 2 percent goal, and we will do so. We have tightened policy significantly over the past year. Although inflation has moved down from its peak—a welcome development—it remains too high. We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustain
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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
AUGUST 25, 2023
The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of August 11th, the index was at -0.944, down 2.306 from the previous week.
Trade Brains
AUGUST 25, 2023
Highest Paid CEOs in India 2023 : Top executives in India receive astronomical salaries that significantly exceed the average compensation of their workforce. These extraordinary people not only run large corporations but also earn some of the highest salaries in the Indian corporate world. Here is a list of highest paid CEOs in India 2023 Highest Paid CEOs in India 2023 #1 – Thierry Delaporte Thierry Delaporte is a Chief Executive Officer and Managing Director of Wipro Limited.
Advisor Perspectives
AUGUST 25, 2023
An abstract interest-rate metric is dominating discussions across trading desks ahead of the Jackson Hole symposium, with investors wondering if Federal Reserve Chair Jerome Powell will weigh in, and bracing for further declines in US Treasuries if he does.
The Big Picture
AUGUST 25, 2023
My end-of-week morning train WFH reads: • The Great and Awful Thing About These Interest Rates : If you’re depending on income to fund your retirement, 5% rates are a blessing. But if you’re in need of credit, current rates are a curse. ( Irrelevant Investor ) • In a Hot Job Market, the Minimum Wage Becomes an Afterthought : The federal wage floor of $7.25 is increasingly irrelevant when even most teenagers are earning twice that.
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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
AUGUST 25, 2023
The August final report for the Michigan Consumer Sentiment Index came in at 69.5, down 2.1 (-2.9%) from the July final. This morning's reading was below the forecast of 71.2. Since its beginning in 1978, consumer sentiment is 18.3% below its average reading (arithmetic mean) of 85.1 and 17.3% below its geometric mean of 84.0.
Trade Brains
AUGUST 25, 2023
Best TATA Group Stocks under Rs 1000: The century-old salt-to-software conglomerate Tata Group is the largest business group in India. Its listed companies have consistently built long-term wealth for their investors. But with more than 20 stocks listed on bourses, how do investors find out the best among them? In this article, we’ll read about the best TATA Group stocks under Rs 1000 which investors can add to their watchlists.
Advisor Perspectives
AUGUST 25, 2023
If this is what a bad year for the dollar looks like, I'll take it. Widespread predictions of a significant retreat after a bumper 2022 haven't come to pass.
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