The Big Picture
NOVEMBER 22, 2023
We spend way too much time trying to predict the future (especially this time of year). Rather than engage in futility, let’s look at the coincident indexes in all 50 states over the past 3 months, via the Federal Reserve Bank of Philadelphia (October 2023). Note: I have been occasionally eyeballing this map since 2008 , and it does a good job of showing the overall trend of the economy (on an obvious lag).
Abnormal Returns
NOVEMBER 22, 2023
Podcasts Roben Farzad talks with Morgan Housel, author of "Same as Ever.Same as Ever: A Guide to What Never Changes." (pod.link) Thomas Kopelman talks with Daniel Crosby about money lessons for life. (podcasts.apple.com) Mason King talks with Peter Dunn about five things you need to know about your finances. (ibj.com) Christine Benz talks safe withdrawal rates with Amy Arnott and John Rekenthaler.
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Nerd's Eye View
NOVEMBER 22, 2023
For all of the myriad ways financial advisors can structure and run their practices, firm owners generally encounter similar stages in the development of their firms. At some point, solo advisors will need to decide whether to increase their headcount, and an ensemble practice may later evolve into a centralized brand with significant enterprise value.
Abnormal Returns
NOVEMBER 22, 2023
AI Sam Altman is back at OpenAI, but everything has changed. (bigtechnology.com) Om Malik, "If you are a startup, an organization, or a large company, you need to learn from the past five days [at OpenAI] and start building resilience in your product plans." (om.co) The OpenAI fiasco highlights the importance of corporate governance. (theatlantic.com) Finance Banks are planning to start.lending again.
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.
Advisor Perspectives
NOVEMBER 22, 2023
Bitcoin's price see-sawed for much of the past week, reaching as high as $37,800 and falling as low as $35,000. BTC is now up ~120% year to date. Here's the latest charts on three of the largest cryptocurrencies by market share through 11/21.
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Trade Brains
NOVEMBER 22, 2023
Suzlon Energy Vs CG Power : India is currently undergoing a revolution in its energy space. The country that has always been massively dependent on burning coal is now shifting to something greener & cleaner. The Companies that we will look at are at the forefront of this space. Although the Companies are slightly different, one manufactures products that generate energy while the other manufactures products to store this energy.
Wealth Management
NOVEMBER 22, 2023
Gregory Gardner relies in large measure on technologies from Orion Advisor Solutions to run and manage his $85 million in AUM RIA, but has gone a different route with some of his tech.
Calculated Risk
NOVEMBER 22, 2023
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 3.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 17, 2023. The Market Composite Index, a measure of mortgage loan application volume, increased 3.0 percent on a seasonally adjusted basis from one week earlier.
Wealth Management
NOVEMBER 22, 2023
Open, honest and candid discussion about cyber hacks, the new DOL fiduciary rule, Envestnet's partnership with Empower, AI 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.
Calculated Risk
NOVEMBER 22, 2023
Today, in the CalculatedRisk Real Estate Newsletter: Lawler on Existing Home Sales, Population Projections and Household Slowdown Excerpt: Census’ new long-term US population projections released last Friday were massively lower than the previous long-term projection released in 2017. In a report earlier this week I highlighted the how the projected components of population change (births, deaths, and net international migration) differed in the two forecasts.
Alpha Architect
NOVEMBER 22, 2023
We are pleased to announce that Erik Chavez has joined Alpha Architect and will work alongside Kyle and Doug to support our 1042 QRP ESOP service (qualified replacement property for ESOP rollovers). While new to our team, Erik has been our friend for a long time. Erik is a multiple-time March for the Fallen survivor -- see below when he is part of the MFTF clean-up crew (cirled in blue).
Wealth Management
NOVEMBER 22, 2023
Matt Stewart, Chief Operating Officer, Oaktree Strategic Credit Fund at Brookfield Asset Management discusses credit markets.
A Wealth of Common Sense
NOVEMBER 22, 2023
Today’s Animal Spirits is brought to you by YCharts: See here to register for the YCharts Year-End Strategy webinar with the Animal Spirits team! On today’s show, we discuss: Power laws in the stock market Some of the trillions parked in cash may trickle back into stocks now that the market is rallying How the young should invest The Fed is charting a course to stagflation and recession Summers says.
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
NOVEMBER 22, 2023
Avantax shareholders voted in favor of the previously-announced deal to sell the company to Cetera, according to SEC filings.
Advisor Perspectives
NOVEMBER 22, 2023
In the week ending November 18, initial jobless claims were at a seasonally adjusted level of 209,000, a decrease of 24,000 from the previous week's revised figure. The latest reading is lower than the forecast of 225,000.
Wealth Management
NOVEMBER 22, 2023
Ahead of Thanksgiving, Osaic-affiliated AmeriFlex added two teams in four states and Steward Partners moved into Georgia.
Meb Faber Research
NOVEMBER 22, 2023
Episode #509: Austin Root, Stansberry Asset Management – The Case For Productive Assets Guest: Austin Root is the Chief Investment Officer of Stansberry Asset Management. Previously, he co-founded and ran North Oak Capital, a New York-based hedge fund that received a strategic investment from Julian Robertson and Tiger Management. Date Recorded: 11/1/2023 | Run-Time: 1:00:14 […] The post Episode #509: Austin Root, Stansberry Asset Management – The Case For Productive Ass
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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.
Wealth Management
NOVEMBER 22, 2023
Schwab's Lisa Salvi shares how successful firms leverage a comprehensive approach to long-term success.
Random Roger's Retirement Planning
NOVEMBER 22, 2023
Today I want to dig into a couple of different things related to return stacking. As a quick explainer, return stacking is the use of leverage in a portfolio to add an alternative asset class/strategy on top of the more typical mix of stocks and bonds. This is usually done with the intention of adding an uncorrelated asset class to a portfolio in an attempt to reduce portfolio volatility.
Wealth Management
NOVEMBER 22, 2023
Pay close attention to the upcoming U.S. Supreme Court decision.
Advisor Perspectives
NOVEMBER 22, 2023
New orders for manufactured durable goods fell more than expected in October, coming in at $279.44B. This is a 5.4% decrease from the previous month and is more than the expected 3.1% decline. The series is up 0.3% year-over-year (YoY). If we exclude transportation, "core" durable goods were unchanged from the previous month and up 1.3% from one year ago.
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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!
Trade Brains
NOVEMBER 22, 2023
Best Stocks and Sectors in India : Every once in a while the technologies and innovations keep changing. Some of these stand the test of time by solving a solution, increasing operational efficiency, or reducing costs. Companies engaged in developing and distributing such technologies and innovative products or services from initial stages eventually become futuristic sectors that offer attractive investment opportunities.
Advisor Perspectives
NOVEMBER 22, 2023
Consumer sentiment fell for a fourth consecutive month in November according to the final report for the Michigan Consumer Sentiment Index. The index came in at 61.3, down 2.5 points (-3.9%) from the October final. This morning's reading was above the forecast of 60.4.
Norman Marks
NOVEMBER 22, 2023
Three parts to this post: What is ESG? What are those conflicting reports? What does this all mean for practitioners? Part 1 OK, it’s time for me to ‘fess up. I am confused by “ESG”.
Advisor Perspectives
NOVEMBER 22, 2023
A quirk in retirement fund accounting is making corporate pensions look particularly flush now, giving them more incentive to cut risk by dumping equities and buying bonds.
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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.
Calculated Risk
NOVEMBER 22, 2023
From WardsAuto: November U.S. Light-Vehicle Sales to Improve on Past Three Months (pay content). Brief excerpt: The recent falloff in the SAAR from summer highs could mean more consumers are reaching price fatigue. It also could be that some of the stronger selling segments – especially fullsize trucks – of the past two-plus years are closer than other segments to meeting the pent-up demand built up since the inventory drain caused by the semiconductor shortage began in early 2021.
Advisor Perspectives
NOVEMBER 22, 2023
My guest, Sam Reid, is here to discuss the role and impact of structured credit within a retail investor portfolio. In an environment of rising rates and accumulating debt, this asset class offers investors a chance to alleviate risks and further enhance their portfolios. Sam uses a process-driven approach to minimize the impact of rising rates, and his underwriting standards allow for enhancements to be built into securities.
Calculated Risk
NOVEMBER 22, 2023
The DOL reported : In the week ending November 18, the advance figure for seasonally adjusted initial claims was 209,000 , a decrease of 24,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 231,000 to 233,000. The 4-week moving average was 220,000, a decrease of 750 from the previous week's revised average.
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