Thu.Dec 01, 2022

article thumbnail

Why they clapped for Sam Bankman-Fried

The Reformed Broker

LET’S GIVE A ROUND OF APPLAUSE TO SAM BANKMAN-FRIED pic.twitter.com/HIVB3nTX2V — The_Real_Fly (@The_Real_Fly) November 30, 2022 Last night’s interview between the New York Times’ Andrew Ross Sorkin and Sam Bankman-Fried ended with the host thanking the accused criminal mastermind for coming, despite the protestations of his lawyers. The audience applauded as the screen went black.

364
364
article thumbnail

Fannie Mae: Mortgage Serious Delinquency Rate Decreased in October

Calculated Risk

Fannie Mae reported that the Single-Family Serious Delinquency decreased to 0.67% in October from 0.69% in September. The serious delinquency rate is down from 1.46% in October 2021. This is close to pre-pandemic levels. These are mortgage loans that are "three monthly payments or more past due or in foreclosure". The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59% following the housing bubble and peaked at 3.32% in August 2020 during the pandemic.

Portfolio 353
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

As Case-Shiller Home Prices Decline, The Fed Finally Admits a Housing Bubble

Mish Talk

Case-Shiller home price data via St. Louis Fed, chart by Mish. Home Price Synopsis Home prices have peaked this cycle but the decline is certainly tiny compared to the run up. Case-Shiller data lags. The latest data is from September and that represents sales primarily made in July and August so the declines shown are undoubtedly understated. Prices are falling now across the board.

Sales 321
article thumbnail

Bottoming?

The Big Picture

As we have been discussing since May of this year, there are increasing signs we have been groping for a bottom in the equity markets. This “Process” is not a single event but rather, a series of events the totality of which increasingly weighs the probability towards that positive resolution. I use the word probability because this outcome is not pre-ordained, but rather, subject to future events which have yet to unfold.

Economy 295
article thumbnail

Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

article thumbnail

Wealth Enhancement Group Acquires $237M Ginsburg Financial Advisors

Wealth Management

Second Oakland deal in two weeks is WEG's 13th acquisition this year.

article thumbnail

ISM® Manufacturing index Declined to 49.0% in November

Calculated Risk

(Posted with permission). The ISM manufacturing index indicated contraction. The PMI® was at 49.0% in November, down from 50.2% in October. The employment index was at 48.4%, down from 50.0% last month, and the new orders index was at 47.2%, down from 49.2%. From ISM: Manufacturing PMI® at 49% November 2022 Manufacturing ISM® Report On Business® Economic activity in the manufacturing sector contracted in November for the first time since May 2020 after 29 consecutive months of growth, say the na

More Trending

article thumbnail

Kitces & Carl Ep 100: Is Advisor Technology Really About Making Planning Faster… Or Better?

Nerd's Eye View

As financial planning has evolved over the years, better tools have become available to help advisors maximize their impact with more clients by increasing their efficiency. Financial planning technology, in particular, has allowed advisors to automate time-intensive back-office tasks and delegate routine analyses to support staff, freeing up their time to engage more personally with clients.

Planning 246
article thumbnail

Texts for Holiday Cards to Grieving Clients

Wealth Management

The holidays are not always "happy" for all clients.

Clients 290
article thumbnail

Longform links: reading and writing well

Abnormal Returns

Books An excerpt from "G-Man: J. Edgar Hoover and the Making of the American Century" by Beverly Gage. (theatlantic.com) A Q&A with Nick Hornby about his new book "Dickens and Prince: A Particular Kind of Genius." (observer.com) An excerpt from "Unreasonable Hospitality: The Remarkable Power of Giving People More Than They Expect" by Will Guidara.

Food 246
article thumbnail

EP Wealth Advisors Acquires Warren Financial Services & Associates

Wealth Management

EP Wealth picks up its second East Coast firm, adding $274M in assets.

article thumbnail

Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

article thumbnail

Vehicles Sales Declined to 14.14 million SAAR in November

Calculated Risk

Wards Auto released their estimate of light vehicle sales for November. Wards Auto estimates sales of 14.14 million SAAR in November 2022 (Seasonally Adjusted Annual Rate), down 5.1% from the October sales rate, and up 7.9% from November 2021. Click on graph for larger image. This graph shows light vehicle sales since 2006 from the BEA (blue) and Wards Auto's estimate for November (red).

Sales 246
article thumbnail

How Eight Firms Are Investing in a Changing CRE Environment

Wealth Management

As interest rates continue to rise and economic forecasts remain murky, what are commercial real estate investors doing to raise capital and reach their desired returns?

article thumbnail

Personal Income increased 0.7% in October; Spending increased 0.8%

Calculated Risk

The BEA released the Personal Income and Outlays report for October: Personal income increased $155.3 billion (0.7 percent) in October , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $132.9 billion (0.7 percent) and personal consumption expenditures (PCE) increased $147.9 billion (0.8 percent).

Food 228
article thumbnail

Blackstone’s $69 Billion Real Estate Giant Hits Redemption Limit

Wealth Management

Blackstone Real Estate Income Trust Inc. has been facing withdrawal requests exceeding its quarterly limit, a major test for the one of the private equity firm’s most ambitious efforts to reach individual investors.

272
272
article thumbnail

How To Overcome Change Fatigue In Finance With Neuroscience-Backed Strategies

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

article thumbnail

Rents Falling Faster than "Seasonality Alone"

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Rents Falling Faster than "Seasonality Alone" A brief excerpt: Here is a graph of the year-over-year (YoY) change for these measures since January 2015. All of these measures are through October 2022 (Apartment List through November 2022). Note that new lease measures (Zillow, Apartment List) dipped early in the pandemic, whereas the BLS measures were steady.

Marketing 225
article thumbnail

tru Independence Passes $1B in New Assets in 2022

Wealth Management

Invenio Wealth Partners in Florida, with $250 million in assets, expands tru Independence's presence in the Southeast.

Assets 264
article thumbnail

Construction Spending Decreased 0.3% in October

Calculated Risk

From the Census Bureau reported that overall construction spending increased: Construction spending during October 2022 was estimated at a seasonally adjusted annual rate of $1,794.9 billion, 0.3 percent below the revised September estimate of $1,800.1 billion. The October figure is 9.2 percent above the October 2021 estimate of $1,644.3 billion. emphasis added Private spending decreased and public spending increased: Spending on private construction was at a seasonally adjusted annual rate of $

225
225
article thumbnail

SIFMA Head Sees 'Urgent Role' for Regulators in Crypto Oversight

Wealth Management

CEO Ken Bentsen’s comments came during the organization’s 'state of the industry' presentation, with FTX’s recent collapse underscoring the need for stronger supervision of the space.

264
264
article thumbnail

2025 Industry Index: How Top Advisors Are Scaling Smarter (and Faster) This Year

Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste

article thumbnail

Manufacturing Has Peaked This Cycle, 8 of 11 ISM Components in Contraction

Mish Talk

ISM chart and details below by permission of the Institute for Supply Management. Please consider the November 2022 Manufacturing ISM ® Report On Business ® “Manufacturing contracted in November after expanding for 29 straight months. Panelists’ companies continue to judiciously manage hiring, other than October 2022, the month-over-month supplier delivery performance was the best since February 2012, when it registered 47 percent and material lead times declined approximately 9 percent from the

article thumbnail

Independent Wealth Advisors Need a Digital Brand Mindset

Wealth Management

In uncertain times, bad advisors hide from their clients; good advisors put themselves out there—and that’s how they take market share.

article thumbnail

Heading Into Recession, There Is a Huge Excess of Real Private Inventories

Mish Talk

Real, inflation-adjusted inventory data from the BEA via St. Louis Fed, chart by Mish. The chart shows "real" inflation-adjusted inventories. The index year is 2012. In four of the last six recession, inventories continued to build well into recession. In the other two, inventories peaked just prior to or at the start of recession. Biggest Ramp in Wholesale Inventory History.

article thumbnail

November 2022 Riskalyze Fintech Five

Wealth Management

Founder and CEO Aaron Klein provides his take on the biggest news to hit advisor technology in the previous month.

262
262
article thumbnail

The New Way Remote Finance Teams Are Protecting Accuracy And Building Resilience In A Cyber-Threatened World

Speaker: Cheryl J. Muldrew-McMurtry

Remote finance teams are rewriting how the back-office runs—and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats have become more than just “growing pains”. They’re now liabilities. The challenge isn’t just team distribution, but building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

article thumbnail

The Business Brew – The Portfolio You Need

Pragmatic Capitalism

Sorry for the radio silence recently. I went on my first vacation in two years over the Thanksgiving week. But now we’re back and getting ready for 2023.

Portfolio 144
article thumbnail

Mindy Diamond on Independence: How an Ex-Merrill Advisor Found Autonomy, Abundance in Independence

Wealth Management

Jerry Davidse discusses his transition from Merrill to building RIA firm Presilium Private Wealth with partner Brook Hart.

246
246
article thumbnail

Is Real Estate a Better Investment Than the Stock Market?

A Wealth of Common Sense

A reader asks: We own a cash-flowing rental property with a sub-3% mortgage with 28 years remaining. On the Aug 18th episode of Portfolio Rescue, Barry said “Real estate more or less returns zero net of inflation.” However, does this statement take into account the leverage provided by a mortgage? Return comparisons between stocks and real estate seem to favor stocks, but it’s not clear whether these com.

article thumbnail

David Bonderman’s Family Office Is Opening Up to World’s Rich

Wealth Management

Wildcat Capital is looking to raise a fund of about $500 million with contributions from a small group of wealthy individuals and other family offices.

238
238
article thumbnail

Data Talks, CFOs Listen: Why Analytics Are Key To Better Spend Management

Speaker: Claire Grosjean, Global Finance & Operations Executive

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

article thumbnail

Thursday links: luxury goods gone bad

Abnormal Returns

Markets How major asset classes performed in November 2022. (capitalspectator.com) Lumber is the worst performing commodity of 2022. (marketwatch.com) So-called 'zero day' options trading is booming. (ft.com) FTX FTX's collapse was a crime, not an accident. (coindesk.com) Why did the Dealbook crowd applaud SBF? (thereformedbroker.com) FTX is what can happen when you give a founder unchecked power.

article thumbnail

11 Must Reads for the CRE Industry Today (Dec. 2, 2022)

Wealth Management

Malls are changing more than ever, according to a reit.com’s interview with CBL CEO Stephen Leibovitz. Americans for Tax Reform argues why the carried interest loophole is a fallacy. These are among today’s must reads from around the commercial real estate industry.

Taxes 162
article thumbnail

Clips From Today’s Halftime Report

The Reformed Broker

Final Trades: Bunge, Simon Property & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

130
130
article thumbnail

JPMorgan Joins HSBC as Vault Custodian for Top Gold ETF

Wealth Management

JPMorgan and HSBC are the world’s top two bullion banks, with businesses spanning everything from trading futures with hedge funds to sending physical gold across the globe.

Banking 162
article thumbnail

What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.