Fri.Dec 16, 2022

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The Philadelphia Fed Just Revised Jobs Lower by 1.2 Million for Q2

Mish Talk

Early Benchmark Revisions of State Payroll Employment Please consider Early Benchmarks for All 50 States and the District of Columbia for the second quarter of 2022. Estimates by the Federal Reserve Bank of Philadelphia indicate that the employment changes from March through June 2022 were significantly different in 33 states and the District of Columbia compared with current state estimates from the Bureau of Labor Statistics’ (BLS) Current Employment Statistics (CES).

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What the Fed Gets Wrong

The Big Picture

There seems to be a lot of confusion going on today with respect to inflation, interest rates, and ongoing Federal Reserve policy. A framework for exploring this has many parts: What the Fed (obviously) knows, how it express those views through police like FOMC rates, ZIRP, QE, QT, etc. There remains the question of what the Fed is actually wrong about. 1 .

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Weekend Reading For Financial Planners (Dec 17-18)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that CFP Board is forming a Competency Standards Commission in 2023 to review and evaluate its competency requirements for Education, Examination, Experience, and CE, which represents an opportunity for CFP Board to adjust its requirements, in alignment with the desires of the CFP community itself, to build confidence among the public that those with the CFP m

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Binance Token BNB Price Crashes to Weak Support Levels, What's It Worth?

Mish Talk

Chart courtesy of CoinMarketCap, annotations by Mish. A wave of selling is hitting Binance right now in the wake of crypto concerns in the fallout of FTX. To see it, let's take a look at the past week. Binance BNB Last Seven Days. Binance Says Accounting Firm Mazars Pauses Work for Crypto Clients The Wall Street Journal reports Binance Says Accounting Firm Mazars Pauses Work for Crypto Clients Cryptocurrency-trading giant Binance said the accounting firm it used to verify its reserves has paused

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Podcast links: poverty in America

Abnormal Returns

The biz Spotify ($SPOT) is pulling back on live audio. (bloomberg.com) A hit podcast doesn't necessarily pay the bills. (wsj.com) Society Derek Thompson talks with economist Bryce Ward about the causes and consequences of the rise of alone time in America. (theringer.com) Bryan Caplan and Chris Arnade discuss poverty in America. (betonit.substack.com) Companies Matt Reustle talks with Drew Cohen talk about the unique business of Floor & Decor.

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More Trending

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Friday links: declaring victory

Abnormal Returns

Markets International stocks might actually outperform the U.S. this year. (etf.com) The end of the retail trading boom hasn't killed options volume. (ft.com) Strategy Six investment lessons from the FTX scandal including 'Swim in regulated waters.' (savantwealth.com) Relax, there's always a new market theme hitting the headlines. (compoundadvisors.com) Companies Carvana ($CVNA) is the poster child for the ZIRP era.

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Homemade Dishes to Rediscover in Retirement

Integrity Financial Planning

Close your eyes and think back to your childhood. What’s the first thing you remember? Your first thoughts may be about your childhood room or your old posters and magazines. Maybe it was your living room couch that had a distinctly comfortable spring to it, even in its final years before it was tossed. It wouldn’t be surprising, however, if your favorite childhood memories were of your kitchen and the people who used it.

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WealthStack Roundup: Morningstar and Luma Partner on Annuities, NaviPlan Gets a New Leader and Docupace Rolls out RIA Productivity Suite

Wealth Management

Morningstar has launched the Annuity Intelligence Center, Michael Roth to oversee InvesCloud's NaviPlan, Docupace unveils its Productivity Suite for RIAs and more.

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The Compound and Friends: The Year of the Rug Pull

The Irrelevant Investor

Today’s Compound and Friends is brought to you by Public: See here for more information on investing in stocks, ETFs, crypto, and alternatives all in one place On today’s show, we discuss the largest stories of 2022: The global oil shock Russian sanctions Price hikes across the economy Calls for stagflation The ‘vibesession’ narrative Bed Bath & Beyond & Ryan Cohens rug pull Future.

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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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Schwab Takes Minority Stake in Dynasty Financial Partners

Wealth Management

Private equity firm Abry Partners is also a new investor. Dynasty, abandoning plans to go public, said it is pulling its S-1 registration with the SEC.

Planning 101
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LA Port Inbound Traffic Down Sharply in November

Calculated Risk

Notes: The expansion to the Panama Canal was completed in 2016 (As I noted a few 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.

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Doctors Were Resistant to Online Reviews, Now They Embrace Them. What Changed?

Wealth Management

Financial advisors can learn a lot from the lessons and evolution that has transformed online reviews and ratings for physicians.

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Not Even AI Can Beat the Market These Days

Advisor Perspectives

From the earliest days of artificial intelligence (AI) and machine learning (ML) in the 1950s, practitioners have spoken of using it for investment fund management.

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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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RIA Edge Podcast WEG’s Jim Cahn on the Drivers of RIA M&A in 2023

Wealth Management

Wealth Enhancement Group's Jim Cahn discusses how growth will take shape in 2023 for his firm and the RIA industry.

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Underlying Inflation Gauge: November Update

Advisor Perspectives

The latest full set UIG for November is 4.14% while the prices-only measure is 5.59%. Current Headline CPI is now 7.1% and Core CPI is 5.96%.

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How Climate Change Is Impacting Financial Planning

Wealth Management

Advisors find global warming is affecting clients’ home insurance and property costs.

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How To Start A New Chapter In Life (It’s OK To Start Over!)

Clever Girl Finance

Starting a new chapter in life might be scary, yet it's a necessary journey that we all go through. After all, life is about making progress and moving forward. And that comes with change. Whether the change is moving to a new city or working toward a new financial goal , we’ll all start something new in life that we’ll have to prepare for. Sometimes these changes are by circumstance.

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Transforming Lending: Understanding the Power of Digital Platforms

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.

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Wealthies Circle Podcast: Addressing Client Retirement Concerns Post-Pandemic

Wealth Management

Our panel of experts share their approaches to wealth accumulation and planning for longevity in a changing retirement planning environment.

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The Incredible "Silver Bullet" Potential of ChatGPT

Advisor Perspectives

ChatGPT, the new AI chatbot, offers a short-term opportunity for savvy financial advisors. But it has long-term consequences for all advisors.

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Blackstone’s Real Estate Fund for Wealthy Prompts SEC Queries, Investor Scrutiny

Wealth Management

Investors and the SEC are taking a closer look at the private equity’s flagship real estate trust and a rival’s fund too.

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Why Is Wall Street So Hot for Biodiversity Right Now?

Advisor Perspectives

As climate change moved higher on the Wall Street agenda, there had been fewer indications that financial giants took similar interest in the biodiversity crisis.

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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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Market Drama

Zoe Financial

Market Drama. Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA. December 19, 2022. Watch Time: 5 minutes. Welcome to this week’s Market Drama. The S&P 500 fell 2%. That puts it down 17.8% for the year. 10-year treasury yield fell 17 basis points, which means treasury bonds’ prices went up. We had November CPI numbers out and they were better than expected.

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Cycle Watch | December 2022: Growth amid uncertainty

Nationwide Financial

The markets had a rough start to 2022, but investors may get a year-end “Santa Claus rally.” The holiday season usually gifts investors with this market rally, typically over seven days beginning the last week of December and ending on the second trading day of the new year. If history is a guide, markets seem poised to jingle again around the upcoming holidays.

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COVID Dec 16, 2022: Update on Cases, Hospitalizations and Deaths

Calculated Risk

On COVID (focus on hospitalizations and deaths). Data is now weekly. Weekly deaths bottomed in July 2021 at 1,666. COVID Metrics Now Week Ago Goal New Cases per Week 2 455,466 469,240 ≤35,000 1 Hospitalized 2 ? 31,599 30,000 ≤3,000 1 Deaths per Week 2 3,115 2,703 ≤350 1 1 my goals to stop weekly posts, 2 Weekly for Cases, Currently Hospitalized, and Deaths ?

Numbers 52
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Market Update for November 2022

ModernAdvisor

November was another good month for equity markets, and a good one for fixed income markets as well. November 2022 Market Performance All index returns are total return (includes reinvestment of dividends) and are in Canadian Dollars unless noted. *Absolute change in yield, not the return from holding the security. November was another good month for equity markets, and […].

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The Blueprint for a Customer-Centric Digital Lending Experience

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.

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Richard Branson’s advice on embracing entrepreneurship

Conneqtor

Let me tell you a story on how I use/used Richard Branson’s advice on embracing entrepreneurship as a Financial Advisor. I started my entrepreneurial journey as a ‘virgin’, and like most virgins, I didn’t know what I was doing.

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Lawler: Early Read on Existing Home Sales in November

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Lawler: Early Read on Existing Home Sales in November A brief excerpt: From housing economist Tom Lawler: Based on publicly available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 4.16 million in November , down 6.1% from October’s preliminary pace and down 34.3%% from last November’s seaso

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Mutual Fund to ETF Conversions: To Proxy or Not to Proxy, that is the question

Alpha Architect

ETF conversions are accelerating and we are seeing more and more mutual funds converting into ETFs. The reasons for mutual fund to ETF conversions are obvious: tax efficiency, transparency, and lower operating costs. But how does this work? What are the pro/cons? This post provides a glimpse behind the curtain and a practical guide for any asset manager considering a mutual fund conversion.

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