Thu.Dec 01, 2022

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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.

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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

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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 213
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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.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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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.

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More Trending

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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.

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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.

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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.

Investing 112
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Feasting on a Full Plate of Concerns

Investing Caffeine

Investors and Thanksgiving feasters alike had a full plate to consume last month – and there has been a lot to digest. The buffet of issues includes the Federal Reserve’s fastest rate hike cycle in decades ( see chart below ), spiking inflation, a slowing economy, an unresolved war between Russia and Ukraine, declining home prices, and a volatile stock market to boot.

Economy 111
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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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.

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Finding Your Clients' Financial Comfort Zone

Advisor Perspectives

How can advisors turn their clients’ focus from dollars to dreams? How can making a clear connection between their real and financial lives create a meaningful client experience and add value to an advisor’s service?

Clients 98
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The Compound and Friends: The Game Has Changed

The Irrelevant Investor

Today’s show is presented by Composer: See here for more information on Composer’s systematic strategies, and here for important disclosures On today’s show we discuss: The market bounce after Powell’s comments Record $3B in outflows for $LQD Vanguard investor pulse: Anxiety and cash needs on the rise What is the yield curve saying?

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The Fed Is Now Relying on a Miracle to Save the Economy

Advisor Perspectives

As president of the Federal Reserve Bank of New York and vice chair of the policy-setting Federal Open Market Committee, John Williams is perhaps the second-most influential US central banker behind Fed Chair Jerome Powell.

Economy 98
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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

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.

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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

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Best practices for managing cash on the sidelines to mitigate inflation

Nationwide Financial

Key findings. A quickly accelerating inflation rate coupled with periods of unprecedented market volatility and negative returns have many clients holding large portions of their assets in cash — particularly in money markets. But not staying invested in the stock market during periods of high inflation could end up adversely impacting their financial plans.

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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).

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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?

Investing 109
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Transforming Lending: Understanding the Power of Digital Platforms

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.

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Five Ways to Combat Money Stress

Your Richest Life

If you’re feeling stressed about money right now, you’re not alone. A 2022 study from the American Psychological Association found that 65 percent of respondents felt that finances were a significant source of stress. . After dealing with high inflation, increasing interest rates, market instability and a global pandemic, it’s no surprise that many of us have felt overwhelmed the past few years.

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Weekly Unemployment Claims: Down 16K, Beats Forecast

Advisor Perspectives

This morning's seasonally adjusted 225K new claims, down 16k from the previous week's revised figure, was better than the Investing.com forecast of 235K.

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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).

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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.

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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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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.

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Seeing family members as separate clients rather than one unit 

Million Dollar Round Table (MDRT)

By Tristan Karl Robert Hartey You spend years developing a relationship with a client, and eventually they are going to pass away. If you have made sure that you’ve involved the next generation, the money is likely going to go there, and therefore you can add real value because you’re going to be able to help with the transition of that, which makes fostering that relationship a bit quicker.

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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 $

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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 104
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The Blueprint for a Customer-Centric Digital Lending Experience

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.

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DIY Trend-Following Allocations: December 2022

Alpha Architect

No exposure to domestic equities. Partial exposure to international equities. No exposure to REITs. Full exposure to commodities. No exposure to intermediate-term bonds. DIY Trend-Following Allocations: December 2022 was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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Mercer Advisors Acquires $5B Regis Management Company

Wealth Management

Mercer's latest acquisition adds $5 billion, multigenerational expertise to its platform.

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How Much Should I Be Saving in My 20s?

Carson Wealth

Craig Lemoine, Ph.D., CFP ® , Director of Consumer Investment Research. and Jamie Hopkins,?Esq., LLM, CFP ® , ChFC ® , CLU ® , RICP ® ,? Managing Partner, Wealth Solutions? . Your 20s signify the beginning of a professional life. Careers, work and responsibility. Possibly a partner or children. . In other words, your 20s present a financial challenge. .