The Big Picture
NOVEMBER 2, 2023
Before yesterday’s FOMC meeting, I reiterated my view from July 2023 that this hiking cycle was – or at least should be – over. The Narrative bias driving commentary today is that this sudden bullishness is the market sussing out the last hike. But this after-the-fact story does not resonate as truth with me, as it looks more like the 10% market correction of October 2023 has ended.
Abnormal Returns
NOVEMBER 2, 2023
Books An excerpt from "The Fund: Ray Dalio, Bridgewater Associates and the Unraveling of a Wall Street Legend" by Rob Copeland. (nytimes.com) An excerpt from "The Dissident: Alexey Navalny, Profile of a Political Prisoner" by David M. Herszenhorn. (politico.com) Private equity The private equity industry controls a growing portion of the American economy.
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Nerd's Eye View
NOVEMBER 2, 2023
Many financial advisors have found that serving a client niche not only helps them run a more efficient firm (as they work with clients facing similar planning issues), but also attracts more new clients (as they are able to offer a unique value proposition for clients within the niche). Notably, though, while certain clients are likely to stay within the niche throughout their lives (e.g., retired clients tend to remain retired until their deaths), other clients might 'evolve' out of the niche
Abnormal Returns
NOVEMBER 2, 2023
Markets Bonds are now competition for stocks. (ritholtz.com) November and December have been good months after a stock markete correction. (carsongroup.com) Fund management Why it's hard for investors to quit Blackrock ($BLK). (riabiz.com) Vanguard is finalizing its exit from China. (pionline.com) Advertising If the economy were bad, companies would be cutting back on advertising.
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.
The Big Picture
NOVEMBER 2, 2023
My morning train reads: • The Economy Is Great. Why Are Americans in Such a Rotten Mood? Lingering inflation can’t explain all of the unhappiness; maybe it is referred pain from the wider world. ( Wall Street Journal ) • The Bond Market, a Sleeping Giant, Awakes : Soaring interest rates have the power to alter the direction of the economy and command the attention of Washington, our columnist says. ( New York Times ) see also World’s Safest Market Becomes a Magnet for Big Investors : US governme
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
NOVEMBER 2, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View — Data Week Ending Oct 28, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 1.0%. For 19 straight weeks, the number of homes available for sale has registered below that of the previous year. • New listings–a measure of sellers putting homes up for sale–were up this week, by 5.6% from one year ago.
A Wealth of Common Sense
NOVEMBER 2, 2023
A reader asks: I appreciate Ben’s long-term view of stock market corrections but what if this time is different? What are the stats when the Fed is actively offloading trillions of assets AND raising rates? What if this cycle is an anomaly and should be treated as such? This question was written in response to a recent post where I used the following table to show the historical distribution of losses over the past.
Wealth Management
NOVEMBER 2, 2023
Richard Lofgren, the managing director of Goldman Sachs Advisor Solutions, details how they differentiate from other established custodians, their ideal advisor profile and more.
Calculated Risk
NOVEMBER 2, 2023
Today, in the Calculated Risk Real Estate Newsletter: Asking Rents Down 1.2% Year-over-year A brief excerpt: Tracking rents is important for understanding the dynamics of the housing market. For example, the sharp increase in rents helped me deduce that there was a surge in household formation in 2021 (See from September 2021: Household Formation Drives Housing Demand ).
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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.
Wealth Management
NOVEMBER 2, 2023
Christopher Fineburg and Teresa Armel have left Rockefeller Global Family Office, which has become one of the most sought-after options for UHNW advisors, to join Next Capital Management.
NAIFA Advisor Today
NOVEMBER 2, 2023
November is National Long-Term Care Awareness Month and it is a great time to bring potential limited and extended care planning needs top-of-mind with your clients. It is important for every comprehensive financial plan to include LTC considerations. So even if LTC insurance is not your primary line of business, Long-Term Care Awareness Month gives you a good opportunity to get clients up to speed.
Wealth Management
NOVEMBER 2, 2023
Blackstone’s flagship non-traded REIT limited redemptions for the 12th straight month. PWC released its annual Emerging Trends in Real Estate report. These are among the must reads from the real estate investment world to end the week.
Advisor Perspectives
NOVEMBER 2, 2023
Here is a look at real (inflation-adjusted) charts of the S&P 500, Dow 30, and Nasdaq composite since their 2000 highs. We've updated this through the October 2023 close.
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 2, 2023
Ohio is leading the way in attempting to properly arm advisors for a fight that’s already underway, whether they realize it or not.
Darrow Wealth Management
NOVEMBER 2, 2023
The IRS has released the 2024 contribution limits for retirement plans and other cost-of-living adjustments. Contribution Limits for 401(k)s, IRAs and More in 2024 Income Limits for Tax-Deductible IRA Contributions Roth IRA Contribution Eligibility The post 2024 IRS Contribution Limits For IRAs, 401(k)s, and More appeared first on Darrow Wealth Management.
Wealth Management
NOVEMBER 2, 2023
Private credit has fast become a Wall Street favorite and is attracting cash from hedge funds, sovereign wealth funds, insurers and pension providers as well as private equity firms.
Advisor Perspectives
NOVEMBER 2, 2023
Here is a summary of the four market valuation indicators we update on a monthly basis.
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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 2, 2023
Sequoia Sentinel represents about 55% of the firm’s assets and serves clients with a minimum of $20 million.
The Irrelevant Investor
NOVEMBER 2, 2023
Today’s Compound and Friends is brought to you by The US Benchmark Series: See here for more information on $TBIL, US Benchmarks 3mo Treasury Bill ETF. On today’s show, we discuss: Big money pros are split on the outlook for stocks. But they are fans of bonds. Goldman’s JP Morgan copycat ETF launches in ‘early days’ of boom Listen here: Charts: Eric Jackson: Twitter I.
Wealth Management
NOVEMBER 2, 2023
Among the hardest hit real estate market participants are syndicators of over-leveraged investments with debt at floating rates.
Advisor Perspectives
NOVEMBER 2, 2023
Based on the October S&P 500 average of daily closes, the Crestmont P/E of 31.8 is 113% above its arithmetic mean, 131% above its geometric mean, and is at the 96th percentile of this 14-plus-decade series.
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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!
Wealth Management
NOVEMBER 2, 2023
The upcoming service will focus on investors who do not currently meet the asset minimums at most firms.
Advisor Perspectives
NOVEMBER 2, 2023
The S&P 500 real monthly averages of daily closes peaked in November of 2021 and 2022 was a bear market. Let's examine the past to broaden our understanding of the range of historical trends in market performance.
Wealth Management
NOVEMBER 2, 2023
Career shifts and mentorships keep Jamie Hopkins facing forward.
Ron A. Rhodes
NOVEMBER 2, 2023
Is going to college about acquiring knowledge, or skills? In decades past, before the internet, learning and memorizing facts had greater importance than it has today.
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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.
Trade Brains
NOVEMBER 2, 2023
Best Stocks Held By Axis Small Cap Fund : Axis Small Cap Fund Direct-Growth was launched in 2013. It is a mutual fund that invests largely in small-cap firms with excellent fundamentals and potential for growth. The fund is managed by skilled experts who utilize a bottom-up approach in order to find high-growth small-cap firms in a variety of industries.
Advisor Perspectives
NOVEMBER 2, 2023
In the week ending October 28, initial jobless claims were at a seasonally adjusted level of 217,000, an increase of 5,000 from the previous week's revised figure. The latest reading is higher than the forecast of 210,000.
Calculated Risk
NOVEMBER 2, 2023
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Rates were at 8% just two weeks ago! Thursday: • At 8:30 AM ET, Employment Report for October. The consensus is for 168,000 jobs added, and for the unemployment rate to be unchanged at 3.8%. • At 10:00 AM, the ISM Services Index for October. The consensus is for a decrease to 53.0 from 53.6.
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