Abnormal Returns
MARCH 17, 2023
Finance Why First Republic Bank ($FRC) isn't bouncing. (thebasispoint.com) WeWork ($WE) has reached a deal with Softbank to restructure its debt. (nytimes.com) Fidelity Crypto is now live. (theblock.co) SVB SVB didn't go bust because it was woke. (theverge.com) But poorly managed remote work maybe did. (axios.com) How the downfall of SVB could affect climate and biotech startups.
The Reformed Broker
MARCH 17, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Dan McMurtrie, and Downtown Josh Brown discuss Credit Suisse, treasury yields, short sellers, credit default swaps, the real reason Signature Bank got taken out, 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
MARCH 17, 2023
The biz Are podcasts thriving because of the decline of third places? (fastcompany.com) What podcasters think about different podcast publishers. (podnews.net) Companies Aimee Keene talks with Neeraj Arora about how the Facebook deal for WhatsApp came together. (shows.acast.com) Matt Reustle and Dom Cooke talk with Simon Owens about building a modern media business.
A Wealth of Common Sense
MARCH 17, 2023
There were a lot of surprising details that came to light from the Silicon Valley Bank fiasco. It was surprising how quickly a bank run took hold for such a large institution. It was surprising how quickly the bank’s customers fled one of their most trusted partners. It was surprising how seemingly little oversight this now systemically important bank had.
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
MARCH 17, 2023
The March preliminary report for the Michigan Consumer Sentiment Index came in at 63.4, down 3.6 (-5.4%) from the February final. This morning's reading was the first monthly decline in the last four months and came in below the Investing.com forecast of 66.9. Since its beginning in 1978, consumer sentiment is 25.7% below its average reading (arithmetic mean) and 24.7% below its geometric mean.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Advisor Perspectives
MARCH 17, 2023
I've updated this series to include the February release of the consumer price index as the deflator and the monthly employment update. The latest hypothetical real (inflation-adjusted) annual earnings are at $48,172, down 8.2% from 50 years ago. Hourly earnings are below their all-time high after adjusting for inflation.
Wealth Management
MARCH 17, 2023
Our technology columnist shares some of his thoughts on the pro- and anti- generative AI hysterics, as well as cybersecurity and some providers worth mentioning.
Calculated Risk
MARCH 17, 2023
Notes: The expansion to the Panama Canal was completed in 2016 (As I noted several years ago ), and some of the traffic that used the ports of Los Angeles and Long Beach is probably going through the canal. This might be impacting TEUs on the West Coast. Container traffic gives us an idea about the volume of goods being exported and imported - and usually some hints about the trade report since LA area ports handle about 40% of the nation's container port traffic.
Wealth Management
MARCH 17, 2023
It was a slower week for dealmaking in the RIA space, but Carson made its first full acquisition of the year and Buckingham Strategic Wealth announced its third.
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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.
MarketWatch
MARCH 17, 2023
Struggling home-goods retailer Bed Bath & Beyond Inc. BBBY on Friday said it planned to hold a special meeting in which shareholders would vote on whether to allow the company to carry out a reverse stock split, should its board decide to do so. Shares tumbled 19% after hours. Shareholder approval would amend Bed Bath & Beyond’s certificate of incorporation to carry out “a reverse stock split of the Company’s common stock, par value $0.01 per share, at a ratio in the range of 1-for-5 to 1-for-10
Wealth Management
MARCH 17, 2023
Clients moved money from two Schwab Value Advantage Money funds, which had a combined $195 billion of assets as of March 15, representing the largest redemptions in at least six months.
Calculated Risk
MARCH 17, 2023
From the Fed: Industrial Production and Capacity Utilization Industrial production was unchanged in February , and manufacturing output edged up 0.1 percent. The index for mining fell 0.6 percent, while the index for utilities rose 0.5 percent. At 102.6 percent of its 2017 average, total industrial production in February was 0.2 percent below its year-earlier level.
Wealth Management
MARCH 17, 2023
Amid the immediate uncertainty around the Fed’s efforts to restore confidence, the battle against inflation suddenly looks easier.
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.
Alpha Architect
MARCH 17, 2023
Regardless of the model used, an anomaly for all models is that the empirical evidence demonstrates that stocks with high research and development (R&D) expenses have delivered a premium. <strong>Research and Development, Expected Profitability, and Expected Returns</strong> was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Wealth Management
MARCH 17, 2023
Pontera CMO Nicole Zheng how advisors should approach the concept of holistic advice with clients, especially surrounding retirement planning.
MarketWatch
MARCH 17, 2023
SVB Financial Group SIVB said Friday it has filed for Chapter 11 bankruptcy in New York and will seek a court-supervised reorganization. The company said the filing does not include SVB Capital or SVB Securities funds and general partner entities, which are continuing to operate as SVB Financial explores its strategic options. SVB Financial is no longer affiliated with Silicon Valley Bank, which was placed in receivership last week after a run on its deposits.
Wealth Management
MARCH 17, 2023
It could be the difference between building a resilient practice and one that crumbles as soon as you step down.
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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.
MarketWatch
MARCH 17, 2023
Could Alphabet Inc.’s foray into artificial intelligence, Bard, “blow a hole” in its margins? It’s a question posed by UBS analyst Lloyd Walmsley posed in a note Thursday. After careful consideration, he expects costs to come subside quickly. “We see cost risk around the integration of generative AI into Google search results as manageable,” Walmsley wrote, in reiterating a buy rating on Google shares.
Advisor Perspectives
MARCH 17, 2023
The latest Conference Board Leading Economic Index (LEI) for February was down 0.3% to 110.0 from January's final figure of 110.3, marking the 11th consecutive MoM decline. Today's reading was consistent with the Investing.com forecast.
MarketWatch
MARCH 17, 2023
Wedbush on Friday downgraded First Republic Bank stock FRC to neutral from outperform and slashed its price target on the stock to $5 a share, a fraction of its current level of around $29 a share in premarket trades. While the $30 billion deposit infusion by 11 banks is a plus, the bank has also grown liabilities to shore up its liquidity, analysts said.
Wealth Management
MARCH 17, 2023
It also provides for increased reporting about trusts.
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MarketWatch
MARCH 17, 2023
The stocks of the 11 banks that contributed $30 billion in uninsured deposits to embattled lender First Republic Bank on Thursday were all lower in premarket trade Friday, amid concerns the unprecedented action had failed to prop up the regional bank’s stock. First Republic Bank stock FRC was down 4% premarket, after it said it would suspend its dividend to conserve cash.
Advisor Perspectives
MARCH 17, 2023
Merely advertising your presence in the marketplace is too vague and unspecific. It fails to project authority and generate trust.
MarketWatch
MARCH 17, 2023
Financial stocks continued to drag stock stock market down Friday, as the Dow Jones Industrial Average’s DJIA four financial components contributed about 40% of the index’s selloff. Shares of JPMorgan Chase & Co. JPM gave up 3.7%, insurer Travelers Companies Inc. TRV dropped 3.6%, American Express Co. AXP fell 3.2% and Goldman Sachs Group Inc. GS slid 3.0%.
Wealth Management
MARCH 17, 2023
Shares of First Republic have plummeted 81% this year.
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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.
MarketWatch
MARCH 17, 2023
U.S. stocks finished lower on Friday as worries about banking-sector stability reemerged. But Friday’s pullback wasn’t large enough to stop both the S&P 500 and Nasdaq Composite from finishing the week in the green, while the Dow was the only major U.S. equity benchmark to finish lower. The S&P 500 SPX shed 43.69 points, or 1.1%, to finish Friday at 3,916.59 according to preliminary closing data, reducing its weekly gain to 1.4%.
Dear Mr. Market
MARCH 17, 2023
Dear Mr. Market: SVB (Silicon Valley Bank) logo is seen through broken glass in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration A part of us cringes as we succumb to the pressure of having to write about the most recent worrisome headline. Why? It’s sort of like the Kardashians or trashy television personalities in general; the more you talk about it the more it gives some the perception that it’s worth talking about.
MarketWatch
MARCH 17, 2023
While the stock market has renewed its selloff Friday, as SVB Financial Group’s SIVBbankruptcy showed the worst of the banking sector’s woes may not yet be in the past, the Arms Indexes for both the New York Stock Exchange and the Nasdaq Exchange suggest Friday’s selling is relatively calm. The Arms is a volume-weighted breadth measure that is used to depict the intensity of selling and buying in declining and advancing stocks, by comparing the ratio of advancing stocks to declining stocks to th
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