Abnormal Returns
MARCH 24, 2023
The biz NPR is cutting four podcasts from its roster. (npr.org) AI could soon replace, for good, the radio DJ. (axios.com) Podcast network Maximum Fun is becoming a worker-owned co-op. (techcrunch.com) AI Patrick O'Shaughnessy talks with Avi Goldfarb about the disruptive effects of AI. (joincolossus.com) Derek Thompson talks with Charlie Warzel on what ChatGPT-4 is capable of.
Nerd's Eye View
MARCH 24, 2023
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week’s edition kicks off with the news that the CFP Board of Standards launched its 1st ad campaign, dubbed "It’s Gotta Be A CFP", following its transition to a 501(c)(6) organization. In a change from previous campaigns, the first ad directly recommends that consumers seek out a CFP professional for financial advice, and future ads could more directly explain the benefits of earning the CFP marks.
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Abnormal Returns
MARCH 24, 2023
Markets The stock market bottomed three years ago in the early days of the pandemic. (demystifyingmarkets.com) Financial stress has increased but is not at GFC-type levels. (econbrowser.com) Banks The banking crisis could play out in tighter credit for small and mid-sized businesses. (wsj.com) Why selling SVB has proven to be a difficult task. (theinformation.com) Further banking consolidation could create 'banking deserts.
The Reformed Broker
MARCH 24, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jill Schlesinger, and Downtown Josh Brown discuss the Fed decision aftermath, unlimited FDIC insurance for banks, the SEC’s crypto crackdown, banning TikTok, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Business operations are getting increasingly complex, shareholders are demanding more, and your auditors are breathing down your neck like never before. In this high-pressure environment, it’s important to remember that reconciliation activity is your last line of defense against financial fraud and errors. Insisting on a manual process to handle month-end reconciliations is a risky endeavor that places an undue burden on your accounting team.
Calculated Risk
MARCH 24, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released yesterday from Sabrina Speianu: Weekly Housing Trends View — Data Week Ending Mar 18, 2023 • Active inventory growth continued to climb with for-sale homes up 59% above one year ago. Inventories of for-sale homes rose, but at a slightly slower pace than last week’s gain, as new sellers on the market held back more.
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Wealth Management
MARCH 24, 2023
No fewer than seven M&A deals were announced this week, while three new RIAs launched on industry platforms and three key hires were made in support of growth.
MarketWatch
MARCH 24, 2023
Intel Corp. INTC co-founder Gordon Moore died on Friday at his home in Hawaii, according to a statement on the company’s website. He was 94. He and his colleague Robert Noyce founded Intel in 1968. Known for Moore’s Law — or the idea that the number of transistors in a chip will roughly double every two years — Moore served a variety of executive roles at the chip maker, and retired from the company in 2006.
Calculated Risk
MARCH 24, 2023
Note: The FOMC is projecting Q4-over-Q4 GDP growth of 0.0% to 0.8%. Here is a table of the low, middle and high FOMC projections for Q2 through Q4 based on the GDP tracking estimates below for Q1. Estimated FOMC Projection Q2 - Q4 Q1 Low 0.0% Middle 0.4% High 0.8% BofA 0.8% -0.3% 0.3% 0.8% Goldman 2.4% -0.8% -0.3% 0.3% GDPNow 3.2% -1.0% -0.5% 0.0% Based on the GDP tracking estimates, the FOMC's GDP projection for Q4-over-Q4 and the FOMC unemployment projections, many analysts pointed out that th
MarketWatch
MARCH 24, 2023
Marlboro cigarette parent Altria Group Inc. MO said it is considering expanding into non-nicotine offering, including cannabis and caffeine pouches, according to a report in The Wall Street Journal. Altria had said at its Investor Day Thursday that it targets at least 35% growth in U.S. smoke-free volumes by 2028, and to double total U.S. smoke-free revenue to $5 billion over the same time, with $2 billion coming from “innovative” smoke-free products, according to a FactSet transcript.
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
Wealth Management
MARCH 24, 2023
Milemarker CEO Kyle Van Pelt, CEO discusses how advisors can avoid technological mistakes and create a seamless experience.
Integrity Financial Planning
MARCH 24, 2023
Going to museums can be a truly joyful experience that offers a wealth of cultural, historical, and artistic treasures. Here are some of the reasons why visiting museums can be such a rewarding experience. Cultural enrichment : Museums offer a unique opportunity to learn about different cultures and gain a deeper understanding of the world around us.
Wealth Management
MARCH 24, 2023
De-risking the business is key to ensuring the client is left on financially solid ground post sale.
Trade Brains
MARCH 24, 2023
How Is The Opening Price Of a Share Determined : If you are new to the stock market, you might not know how is the opening price of a share determined. Why does the stock open at a specific price which is higher or lower than the previous day’s closing price? What determines this opening price if the stock market is closed? The Indian stock market works for five days from Monday to Friday.
Speaker: Raul Perez, VP and CFO of Lancaster Leaf
Lancaster Leaf Tobacco Co Inc. is a subsidiary of Universal Corporation, the leading global leaf tobacco supplier. Lancaster Leaf supplies virtually all the major cigar manufacturers in the U.S. with filler, binder, and wrapper, and exports filler, binder, and wrapper to international cigar manufacturers. This all could mean a complicated month-end close - before automation.
Wealth Management
MARCH 24, 2023
Geneva-based Brainvest is expanding its offerings to assist a new generation of heirs who live around the world and sometimes spend beyond their means.
Fintoo
MARCH 24, 2023
Life insurance has always been a preferred investment option for all people due to the financial security it offers to a family after the demise of the policyholder. It also becomes ideal for people with a conservative risk profile. In the budget 2023, it was announced that high-value insurance purchases would henceforth be taxed with […] The post Will Taxing High-Value Insurance Benefit Debt Mutual Funds?
Wealthfront
MARCH 24, 2023
At Wealthfront, we work tirelessly to keep your savings safe. We know you’re saving for important life milestones and getting ready to invest, so it’s crucial that your money is well protected and available when you need it. That’s why our Cash Account offers up to $3 million in FDIC insurance through our partner banks […] The post How Wealthfront Offers $3M of FDIC Insurance appeared first on Wealthfront Blog.
Wealth Management
MARCH 24, 2023
Children received taxable gifts when they purchased property at discount.
Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker
If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!
Advisor Perspectives
MARCH 24, 2023
The latest Underlying Inflation Gauge full data set for February is 4.8% while the prices-only measure is 3.9%. Current Headline CPI is now 6.0% and Core CPI is 5.5%.
MarketWatch
MARCH 24, 2023
Deutsche Bank shares XE:DBK slumped 8% in Frankfurt trade on Friday, as worries over bank sector health focus on another global systemically important bank. Deutsche Bank’s 5-year credit-default swaps widened on Thursday, in what Reuters reported was the largest one-day rise in its history. Its AT1 bonds have tumbled in value after Switzerland wiped out Credit Suisse’s securities after the state-backed takeover by UBS.
Alpha Architect
MARCH 24, 2023
For anomalies that are risk-based, that is what we should expect to see because, while risk cannot be arbitraged away, cash flows can reduce the size of the premium. For the anomalies that are behavioral based, it appears that limits to arbitrage are still sufficient to allow them to persist post-publication. <strong>Institutional Investors’ Impact on Factor Premiums</strong> was originally published at Alpha Architect.
MarketWatch
MARCH 24, 2023
Treasury yields plunged on Friday amid continued concerns about the global banking system, sending the policy-sensitive 2-year rate down by 18 basis points to 3.66% in morning trading. The yield is down more than 120 basis points over the past three weeks and headed for its biggest drop for such a length of time in more than 35 years. Meanwhile, the 10-year yield was down 11 basis points at 3.3% and poised for its biggest three-week plunge since March 2020.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
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, almost like magic! 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 au
Calculated Risk
MARCH 24, 2023
From CoStar: STR: Weekly US Hotel Occupancy Inches Closer to 70% in Mid-March Helped by spring break travel, U.S. hotel performance increased from the previous week, according to STR‘s latest data through 18 March. March 12-18, 2023 (percentage change from comparable weeks in 2022, 2019): • Occupancy: 67.6% (+1.3%, -2.5%) • Average daily rate (ADR): $167.04 (+8.9%, +23.9%) • Revenue per available room (RevPAR): $112.89 (+10.4%, +20.8%) emphasis added The following graph shows the seasonal patter
MarketWatch
MARCH 24, 2023
Resending to correct headline.Fed funds futures traders now see a 39% likelihood that the Federal Reserve will cut rates to between 3.75% and 4% by December — down from a current range of 4.75% to 5%. That view represents the most likely scenario they foresee as of Friday. Traders have moved away from the Fed’s own median expectation for a 5.1% fed funds rate by year-end amid ongoing concerns about the global banking system.
Calculated Risk
MARCH 24, 2023
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in February A brief excerpt: The big story for February existing home sales was the sharp year-over-year (YoY) decline in sales, and also the rebound from the low level of sales in December and January. Also, active inventory increased sharply YoY, but is still historically low - and new listings are down YoY.
MarketWatch
MARCH 24, 2023
World Wrestling Entertainment Inc. WWE on Friday said Executive Chairman Vince McMahon agreed to pay the pro-wrestling media giant around $17.4 million to cover costs the company took on related to a board committee investigation into allegations of sexual misconduct. “Such payment was made” on Thursday, WWE said in a filing. That agreement covered any costs incurred through Jan. 31 related to that investigation, as well as those related to “revisions to the Company’s financial statements and ot
Speaker: Lynnette Khalfani-Cox, The Money Coach®
Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?
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