Abnormal Returns
MARCH 23, 2023
Books A Q&A with Jenny Odell author of "Saving Time: Discovering a Life Beyond the Clock." (wired.com) An excerpt from "Mixed Signals: How Incentives Really Work" by Uri Gneezy. (behavioralscientist.org) Technology What jobs are generative AI going to eliminate? (unchartedterritories.tomaspueyo.com) An awe inspiring visit to a state-of-the-art semiconductor fab.
Nerd's Eye View
MARCH 23, 2023
Offering financial advice can mean many things for different financial advisors, and there are many reasons that advisors choose to join the planning profession. But for many advisors, the process of articulating their philosophies about financial advice and what it is the advisor stands for can be much more challenging than learning the technical aspects of financial planning.
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Abnormal Returns
MARCH 23, 2023
Strategy Why isn't the stock market going down? (theirrelevantinvestor.com) Bonds have had a rough five years. Things are different moving forward. (morningstar.com) Novel Investor, "Investors must make bets on imperfect information to earn sought-after long-run returns." (novelinvestor.com) Crypto Why is Bitcoin going higher? (newsletter.mollywhite.net) Coinbase ($COIN) is at-risk if the SEC forces it to delist coins it believes to be securities.
The Reformed Broker
MARCH 23, 2023
Final Trades: AbbVie, Nike, FedEx & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
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.
Calculated Risk
MARCH 23, 2023
The DOL reported : In the week ending March 18, the advance figure for seasonally adjusted initial claims was 191,000, a decrease of 1,000 from the previous week's unrevised level of 192,000. The 4-week moving average was 196,250, a decrease of 250 from the previous week's unrevised average of 196,500. emphasis added The following graph shows the 4-week moving average of weekly claims since 1971.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
MARCH 23, 2023
Commercial real estate investors faced another Fed rate hike amid market volatility. Twitter is being sued for unpaid rent in Oakland, reported The Real Deal. These are among today’s must reads from around the commercial real estate industry.
The Better Letter
MARCH 23, 2023
As a player, Michael Jordan was perhaps the ultimate “bet on himself” guy. When the game was on the line, we wanted the ball in his hands. Overall, it worked out spectacularly. As a business owner … not so much. Last week, ESPN’s Adrian Wojnarowski reported that Jordan, now owner of the Charlotte Hornets, was engaged in “serious talks” to sell his majority stake in the NBA team.
Wealth Management
MARCH 23, 2023
Merrill is making it easy and efficient for advisors to use video within their existing systems, but RIAs have a temporary advantage at creating human and heart-centered content.
MarketWatch
MARCH 23, 2023
Carvana Co.’s CVNA debt swap is “distressed” and “tantamount to default” if completed because it will result in bondholders receiving less than originally promised, S&P Global ratings analysts said Thursday. They lowered their rating on Carvana’s debt to CC, from CCC+, with a negative outlook. The outlook “reflects our expectation that we will lower our issuer credit rating on the company to ‘D’ (default) upon the completion of the proposed exchange offer,” S&P said.
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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
MARCH 23, 2023
Rory O’Hara, founder of Ausperity Private Wealth, discusses his journey from cold-calling trainee at Merrill to building a business managing $500 million in client assets, to making the leap to independence as a young team.
MarketWatch
MARCH 23, 2023
The Swiss National Bank, just days after rescuing Credit Suisse, said it is lifting its policy rate by a half point to 1.5%. “In doing so, it is countering the renewed increase in inflationary pressure. It cannot be ruled out that additional rises in the SNB policy rate will be necessary to ensure price stability over the medium term,” said the Swiss bank in a statement.
Wealth Management
MARCH 23, 2023
The situations with First Republic and SVB pose yet another cautionary tale for advisors affiliated with banks.
Calculated Risk
MARCH 23, 2023
From WardsAuto: March U.S. Light-Vehicle Sales, Inventory Pegged for Solid Gains; First-Quarter Deliveries to Rise 7% (pay content). Brief excerpt: Though gradually improving, inventory remains the story behind why sales remain low by historical standards. There are underlying crosscurrents related to the economy, rising interest rates and geopolitics, among others, that are helping stanch demand, but lack of inventory is the main reason growth is not significantly stronger (and even largely why
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.
The Irrelevant Investor
MARCH 23, 2023
Today’s show is sponsored by Blinkist: See here for more information on getting the key ideas and insights from 5,500+ nonfiction titles On today’s show, we discuss: The CEO of TikTok in Washington DC Yellens testimony Hedge Fund manager Nelson Peltz says the government should insure all bank deposits – for a price Bank failures put Fed in hot seat Hindenburg publishes a report on Square US thr.
Calculated Risk
MARCH 23, 2023
Today, in the Calculated Risk Real Estate Newsletter: New Home Sales at 640,000 Annual Rate in February Brief excerpt: And on prices, from the Census Bureau : The median sales price of new houses sold in February 2023 was $438,200. The average sales price was $498,700. The following graph shows the median and average new home prices. The average price in February 2023 was $498,700 down 4.5% year-over-year.
Wealth Management
MARCH 23, 2023
According to the SEC, Darryl Matthew Cohen steered the money for his own use and to fund his son’s basketball league.
A Wealth of Common Sense
MARCH 23, 2023
A reader asks: My friend recently sent me an article saying that young people shouldn’t save money. The argument is based on the life-cycle model. It argues that in order to maximize happiness out of your income every year, and to avoid changes in standard of living throughout life, high income earners should not save at a young age, and instead it should be made up in middle ages.
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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.
Advisor Perspectives
MARCH 23, 2023
Yesterday, the Fed completed its regular meeting and announced that it would increase interest rates by 25 bps, or a quarter percentage point.
Wealth Management
MARCH 23, 2023
Recent MSCI data shows trouble brewing in the capital markets even before this month’s bank failures.
Million Dollar Round Table (MDRT)
MARCH 23, 2023
By Addie Murdock Since the MDRT Foundation began in 1959, the generosity of MDRT members funded the global grants programs that built stronger families and communities worldwide. The Foundation has awarded more than $40 million in grants in more than 70 countries since its inception. Fundraising has played a crucial role in providing these grants. During the past six decades, thousands of MDRT members volunteered their time and talent to come together for a few days a year, make phone calls and
Wealth Management
MARCH 23, 2023
With this acquisition, the two firms now have a collective $21 billion in platform assets.
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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!
MarketWatch
MARCH 23, 2023
The unions that represent workers at Walt Disney World said Thursday that they have reached an agreement with Walt Disney Co. DIS that will raise the minimum wage to $18 an hour this year. The agreement comes after almost 14,000 union members rejected Disney’s previous offer in February of a $17 minimum wage, the unions said in a news release. According to the Services Trades Council Union (STCU), which is made up of different unions representing 45,000 theme park workers, there will be a ratifi
Wealth Management
MARCH 23, 2023
The London-based asset manager built on a European banking dynasty has opened an office in New York City.
MarketWatch
MARCH 23, 2023
Treasury Secretary Janet Yellen on Thursday will tell lawmakers that the federal government would take extra steps to stabilize the U.S. banking system if necessary. “We have used important tools to act quickly to prevent contagion,” Yellen says in testimony prepared for delivery to a House Appropriations subcommittee. “And they are tools we could use again.
Wealth Management
MARCH 23, 2023
The Bentonville, Arkansas-based company is paring jobs as it bolsters warehouse automation to reduce the cost of handling online purchases. The retailer has so far avoided the kind of mass layoffs underway at rival Amazon.com Inc., which this week said it would slash payrolls by another 9,000 jobs in addition to 18,000 recent cuts.
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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 23, 2023
Shares of Accenture PLC ACN surged 4.3% in premarket trading Thursday, after the management consultant reported fiscal second-quarter profit and revenue that beat expectations, while trimming its full-year outlook. Net income for the quarter to Feb. 28 fell to $1.53 billion, or $2.39 a share, from $1.64 billion, or $2.54 a share, in the year-ago period.
Calculated Risk
MARCH 23, 2023
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, Durable Goods Orders for February from the Census Bureau. The consensus is for a 1.2% increase in durable goods orders.
MarketWatch
MARCH 23, 2023
WASHINGTON (MarketWatch) The U.S. current-account deficit, a measure of the nation’s debt to other countries, shrank 5.6% in the 2022 fourth quarter. The current-account deficit narrowed to $206.8 billion from a revised $219 billion in the 2022 third quarter. The smaller gap reflected a decline in the “secondary” income deficit and a bigger surplus in services such as tourism.
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