The Big Picture
JULY 7, 2023
Today, the 500 th episode of Masters in Business drops. 1 I have described the inspiration for the show as “ an audio version of Market Wizards ” but the actual pitch to Bloomberg was “Mark Maron’s WTF meets Charlie Rose” (that was before we knew about his, um, behavior). It has been a wonderful ride, one that I feel grateful and privileged to be on.
Nerd's Eye View
JULY 7, 2023
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that recent survey data indicate that advisors are more satisfied and productive when they have more time to spend with their clients and when those clients fit within their ideal client profile, in terms of needs, specialties, or engagement levels.
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Abnormal Returns
JULY 7, 2023
Markets Stop dissing the Dow. (allstarcharts.com) Bitcoin has survived another bear market. (blockworks.co) Strategy Professional investors do better when thinking long term. (sapientcapital.com) What exactly is the problem with index fund concentration? (ft.com) Rates Higher for longer means investors can feast on short term rates. (disciplinefunds.com) Main street banks can no longer get away with paying under-market interest rates on deposits.
The Reformed Broker
JULY 7, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Darren Rovell, and Downtown Josh Brown discuss layoffs at ESPN, sports betting, the memorabilia market, Threads vs Twitter, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods! Listen here: Apple podcasts Spotify podcasts Google podcasts Everywhere else!
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.
Abnormal Returns
JULY 7, 2023
Business Josh Brown and Michael Batnick talk with Darren Rovell about collectibes, sports gambling and the canned cocktail business. (thereformedbroker.com) Eric Newcomer talks the state of early stage venture with Techstars CEO Maëlle Gavet. (newcomer.co) Patrick O'Shaughnessy talks vertical market software with Dave Yuan who is the Founder of Tidemark Capital.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
JULY 7, 2023
The departing executive spoke about his reasons behind the move; the search for a replacement; the highs and lows of his tenure; what’s next for him, Orion and the industry at large; and more.
Calculated Risk
JULY 7, 2023
The headline jobs number in the June employment report was at expectations, however, employment for the previous two months was revised down by 110,000, combined. The participation rate and the employment population ratio were unchanged, and the unemployment rate decreased to 3.6%. Leisure and hospitality gained 21 thousand jobs in June. At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 369 thousand jobs since February 2
Wealth Management
JULY 7, 2023
Mercer Global Advisors picked up two more firms with more than half a billion in combined assets, while Robertson Stephens, WEG, NewEdge Wealth, Hub International, Kestra, and RFG all announced new additions this week.
Calculated Risk
JULY 7, 2023
From the BLS : Total nonfarm payroll employment increased by 209,000 in June, and the unemployment rate changed little at 3.6 percent , the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction. The change in total nonfarm payroll employment for April was revised down by 77,000, from +294,000 to +217,000, and the change for May was revised down by 33,000, from +339,000 to +306,000.
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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.
Wealth Management
JULY 7, 2023
A Focus shareholder filed a lawsuit against the company late last month, claiming its proxy statements were misleading. Focus filed a supplement to the proxy, and says the shareholder will drop the complaint.
Calculated Risk
JULY 7, 2023
The BEA released their estimate of vehicle sales for June yesterday. This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the June 2023 seasonally adjusted annual sales rate (SAAR). Heavy truck sales really collapsed during the great recession, falling to a low of 180 thousand SAAR in May 2009. Then heavy truck sales increased to a new all-time high of 570 thousand SAAR in April 2019.
Advisor Perspectives
JULY 7, 2023
The S&P 500 has had a slow start to the second half of the year, dropping 1.2% from last week. The index is currently up 15.03% year to date and is 8.29% below its record close from January 3, 2022.
Alpha Architect
JULY 7, 2023
Although the most efficient way to implement a value strategy may need to be clarified, it is clear that value has withstood the test of time and that some implementations are superior to others. The evidence suggests that P/B is not an efficient metric as a standalone criteria. Instead, value strategies that use P/B should include at least a measure of profitability while managing sector - and security-level diversification.
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.
Advisor Perspectives
JULY 7, 2023
The moving average for the light vehicle sales per capita series peaked in August 1978. Almost 45 years later, it is down 39.9% from that peak.
Integrity Financial Planning
JULY 7, 2023
Journaling is a great way for retirees to reflect on their experiences and emotions. It can help them gain clarity and perspective, improve their memory, and reduce stress. However, starting and maintaining a journal can be challenging, especially if you don’t know where to begin. Here are some tips to help retirees start and keep a journal: Choose a journal: Find a journal that suits your style and preferences.
The Irrelevant Investor
JULY 7, 2023
Today’s Compound and Friends is brought to you by Public: Visit public.com/compound for more information on how to earn 5+% interest with a treasury account on public. On today’s show, we discuss: Mark Zuckerberg Looks to Deliver Hit to Elon Musk With Upcoming Twitter Clone Named Threads Listen here: Charts: Tweets: The $2.2 billion MSG Sphere in Las Vegas is nearing completion.
Wealth Management
JULY 7, 2023
Hoarding work and not giving your employees the chance to evolve in their roles will stunt their growth.
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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.
Good Financial Cents
JULY 7, 2023
Deciding whether to continue with your life insurance policy or cancel it is not just a significant financial choice, it can also have profound emotional implications. After all, life insurance isn’t just a monetary consideration – it’s about ensuring that your loved ones are protected in case of your untimely demise. However, sometimes circumstances may lead you to contemplate canceling your life insurance policy.
MainStreet Financial Planning
JULY 7, 2023
We are often asked by clients if they should keep or cancel their life insurance policies. Here are three things to consider as you explore this topic in your own family. First, ask yourself if you still need life insurance. Think about why you bought this insurance policy in the beginning. Some common answers we hear: Financial support for dependents: If you have loved ones who rely on your income, life insurance can provide financial support to replace your lost income in the event of your de
Wealth Management
JULY 7, 2023
In a parallel action, the SEC charged one of Monmouth Capital Management’s reps with defrauding families of fallen military soldiers.
A Wealth of Common Sense
JULY 7, 2023
There are two rules when it comes to stock market aphorisms: (1) They have to be easy to remember. or (2) They have to rhyme. Some classic examples: Be greedy when others are fearful and fearful when others are greedy. Buy when there’s blood in the streets. The trend is your friend. Don’t try to catch a falling knife. Let your winners ride and cut your losers short.
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All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!
Wealth Management
JULY 7, 2023
For investors seeking higher returns, there are no free lunches—they have to accept greater risk.
Advisor Perspectives
JULY 7, 2023
Your web site is an excellent conversion tool to grow your email list. Here’s how to capture leads on your web site using an incentive-based opt-in.
XY Planning Network
JULY 7, 2023
Get a sneak peek at content reserved for XYPN members with XY Tax Solutions Office Hours program! Available exclusively to XYPN members, each month one of XYTS's tax experts hosts an office hours session where tax-specific topics are discussed and attendees can ask any top-of-mind questions. If you're interested in learning how adding tax planning benefits your business model and how to easily incorporate it into your service offerings, this session, hosted by XYPN's Director of Tax, Sam Nguyen,
Advisor Perspectives
JULY 7, 2023
The employment report for June showed a 209,000 increase in total nonfarm payrolls. The addition was below expectations of 235,000 new jobs and marks the smallest monthly increase since December 2020. Meanwhile, the unemployment rate dropped to 3.6%.
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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.
Calculated Risk
JULY 7, 2023
From BofA: Overall, data since our last weekly publication moved down our 2Q GDP tracking estimate from 1.5% q/q saar to 1.4%. [July 7th estimate] emphasis added From Goldman: The details of the trade balance report were slightly softer than our previous assumptions, and we lowered our Q2 GDP tracking estimate by one tenth to +2.2% (qoq ar). [July 6th estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter o
XY Planning Network
JULY 7, 2023
Get a sneak peek at content reserved for XYPN members with XY Tax Solutions Office Hours program! Available exclusively to XYPN members, each month one of XYTS's tax experts hosts an office hours session where tax-specific topics are discussed and attendees can ask any top-of-mind questions. If you're interested in learning how adding tax planning benefits your business model and how to easily incorporate it into your service offerings, this session, hosted by XYPN's Director of Tax, Sam Nguyen,
Trade Brains
JULY 7, 2023
Fundamental Analysis of Tata Elxsi: The shares of Tata Elxsi went up more than 10x from their June 2020 levels in less than 2 years. The stock recorded its all-time high of Rs 10,760 in August last year. However, the performance has been dismal since then with the stock coming down to Rs 7,750. So what really happened at the company? Such a boom and then some 30% fall?
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