Sat.Aug 26, 2023

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MiB: Greg Davis, CIO Vanguard

The Big Picture

This week, we speak with Vanguard’s chief investment officer Greg Davis. He is responsible for the oversight of approximately $7 trillion managed by Vanguard fixed income, equity index, and quantitative equity groups. Davis also serves as a member of the Treasury Borrowing Advisory Committee of the US Treasury Department. He has more than 25 years of investment management experience.

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Saturday links: the greatest virtue

Abnormal Returns

EVs Comparing three EVs priced under $60,000 including the Ford Mustang Mach-E, Hyundai’s Ioniq 5, and Tesla’s Model Y. (wsj.com) New chargers make it possible to drive across the country, electric-only. (bloomberg.com) Autos Higher auto prices are turning into loan delinquencies. (wsj.com) It doesn't take a lot of e-bikes to reduce traffic congestion.

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This Week on TRB

The Reformed Broker

Thanks so much for spending some time with me this week. I know there are a lot of places you can go to read market commentary or hear people’s opinions about what’s going on. The choice you’ve made to make my stuff part of your routine is much appreciated. I know that you don’t give that time up for nothing. I have to deliver.

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10 Weekend Reads

The Big Picture

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The Inheritance Case That Could Unravel an Art Dynasty : How a widow’s legal fight against the Wildenstein family of France has threatened their storied collection — and revealed the underbelly of the global art market. ( New York Times ) • Elon Musk’s Shadow Rule : How the U.S. government came to rely on the tech billionaire—and is now struggling to rein him in. ( New Y

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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.

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Pivot Points Indicator: Meaning, Calculation & Trading Strategies

Trade Brains

Pivot Points Indicator : Traders use different tools to analyse and help them predict market trends consistently. Technical analysis has its value in tracking market sentiments to help traders build their strategies for the session and manage risk-reward ratios to be profitable. Under many technical indicators, the pivot points indicator has a significant role in identifying potential trend reversals, price movement, support and resistance levels.

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Why You Should Avoid Focusing on Retirement Taxes

Talon Wealth

We all know retirement is an important milestone that requires careful planning. It marks the end of your working life and the beginning of a more relaxed, stress-free pace of life and, ideally, financial freedom. Of course, one of the most important aspects of retirement planning is managing retirement taxes. Taxes can significantly impact the amount of money you’ll have for retirement.

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Real Estate Newsletter Articles this Week: New Home Sales increase to 714,000 Annual Rate in July

Calculated Risk

At the Calculated Risk Real Estate Newsletter this week: • NAR: Existing-Home Sales Decreased to 4.07 million SAAR in July • New Home Sales increase to 714,000 Annual Rate in July • Forecast: Multifamily Starts will Decline Sharply • Final Look at Local Housing Markets in July • 4th Look at Local Housing Markets in July This is usually published 4 to 6 times a week and provides more in-depth analysis of the housing market.

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On My Mind: The Structural Shift That Wasn’t

Advisor Perspectives

Markets seem to be coming around to our Franklin Templeton Fixed Income CIO Sonal Desai’s view that the Fed will have to keep interest rates higher for longer, but now runaway fiscal deficits pose further upside risk to yields in the long term, she warns.

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Schedule for Week of August 27, 2023

Calculated Risk

The key report this week is the August employment report on Friday. Other key indicators include the second estimate of Q2 GDP, Personal Income and Outlays for July, the August ISM manufacturing index, August auto sales, and Case-Shiller house prices for June. -- Monday, August 28th -- 10:30 AM: Dallas Fed Survey of Manufacturing Activity for August.

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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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Powell Signals Further Hikes Will Come If Needed

Advisor Perspectives

Federal Reserve Chair Jerome Powell signaled the US central bank is prepared to raise interest rates further if needed and keep borrowing costs high until inflation is on a convincing path toward the Fed’s 2% target.

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Understanding Active and Passive Mutual Funds

Advisor Perspectives

If you’re interested in investing in mutual funds or exchange-traded funds (ETFs) – or you already have some in your portfolio – you may be wondering what exactly the difference is between an active and a passive fund.

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Nvidia Market Reaction Shows US Rally Is Over, Morgan Stanley’s Wilson Says

Advisor Perspectives

The drop in US stocks on Thursday despite a bumper report from Nvidia Corp. shows the rally this year is “exhausted” and portends more declines to come, according to Morgan Stanley’s Michael Wilson.

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Cummins For Safety, Growth & Dividend Income

Advisor Perspectives

A one-time investment in Cummins of $10,000 in 2003 would have turned that $10,000 into $323,000 by August 21st. And more importantly, that $10,000 original investment would have generated $73,634 in income.

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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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Real Rates, Real Problems for Bonds

Advisor Perspectives

Longer-dated US Treasuries – those with maturities of 5 years or longer – continue to struggle. At best, coupon payments are keeping investors relatively flat.

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Examining Benefits of International Equity Investing

Advisor Perspectives

International stocks and the related exchange traded funds have accumulated bum reputations after lengthy spells of underperforming domestic equivalents.