Thu.Sep 22, 2022

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Changes in Global Wealth 2021

The Big Picture

Every year, Credit Suisse puts out an in-depth look at wealth around the world (I often pull a chart or two for the reads). The data always has some interesting findings about how the very wealthy are investing, consuming, and otherwise spending their time and money. I don’t always reference it, but intriguing and anomalous findings are always worth sharing.

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Thursday links: a true rarity

Abnormal Returns

Markets Retail investors have been this bearish only five other times in history. (twitter.com) The rise in interest rates has been relentless. (capitalspectator.com) FAANG The FAANG stocks, except for Apple ($AAPL) are in big drawdowns. (theirrelevantinvestor.com) Google ($GOOGL) and Meta ($META) are tightening their belts. (vox.com) Bubbles Why the SPAC bubble burst.

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10 Thursday AM Reads

The Big Picture

Welcome to our special Autumnal equinox edition of morning reads: • Predicting the Next Recession : The Fed cannot ease pandemic related supply constraints (except by curbing demand), and the Fed cannot stop the war. So, there is a possibility that the Fed will tighten too much and that will lead to a “hard landing” (aka recession). ( Calculated Risk ). • Why Trump’s Alleged Real-Estate Shenanigans Went Too Far : You can get away with a lot when appraising property, but not this much

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Longform links: cultivating understanding

Abnormal Returns

Books Insights from "Two and Twenty: How the Masters of Private Equity Always Win" by Sachin Khajuria (newrepublic.com) A Q&A with Lina Flanagan author of "Take Back the Game: How Money and Mania Are Ruining Kids’ Sports, and Why It Matters." (annehelen.substack.com) An excerpt from "The Year Of The Puppy - How Dogs Become Themselves" by Alexandra Horowitz.

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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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Clips From Today’s Closing Bell

The Reformed Broker

We are getting into a situation where this is a really good investing environment, says Ritholtz’s Josh Brown from CNBC. The post Clips From Today’s Closing Bell appeared first on The Reformed Broker.

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More Trending

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Kitces & Carl Ep 95: Building Your Advisor Marketing Content By Packaging Your Client Wisdom

Nerd's Eye View

As the world becomes increasingly digital, the barrier to get one’s ideas out and in front of others becomes lower and lower. In the financial sector, in particular, this has led to an open floodgate of financial tips and advice. Many financial advisors have found that sharing their own expertise and marketing their intellectual property are great ways to establish themselves as dependable, trustworthy sources.

Clients 125
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High Interest Rates Are Slowing Down Self Storage Dealmakers

Wealth Management

Despite record-high rents and strong demand for self-storage units, higher interest rates and debt costs have contributed to a slowdown in investment sales activity in the sector.

Sales 113
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A Very Tough Year

The Irrelevant Investor

The market didn’t like what it heard yesterday. It hasn’t liked much of anything this year. The S&P 500 has declined more than 1% in one out of four days so far in 2022. The only other years with a higher reading since 1990 were 2008 when the S&P fell 38%, and 2002, when it fell 23%. Mega cap tech stocks have been the best performing stocks for the last decade.

Marketing 108
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How to Surprise and Delight Clients

FMG

Clients are the lifeblood of every business regardless of industry. Financial advisors especially should make sure customers feel appreciated. To distinguish themselves from others in the industry and make clients feel special. For this exact reason, going the way of surprising and delighting is an excellent tactic in providing exceptional service. When a financial advisor is able to surprise or delight their client, they’re showing through action why that customer made the right choice in

Clients 107
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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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It wouldn’t take much to light the fuse

David Nelson

Yesterday Nancy and I. Yesterday with Fox Business anchor Charles Payne and Nancy Tengler CIO Laffer Tengler Investments. We covered a lot of ground all leading up to today’s FOMC decision.

Investing 105
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Hercules CEO, CNBC Pundit 'In Hiding' Amid Securities Fraud Charges

Wealth Management

James Arthur McDonald, Jr. appears to be on the lam as he faces as much as 20 years in prison for allegedly defrauding investors, according to the Justice Department. The SEC also filed a complaint against the Calif.-based advisor and frequent CNBC commentator.

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FOMC Projections and Press Conference

Calculated Risk

Statement here. Fed Chair Powell press conference video here or on YouTube here , starting at 2:30 PM ET. Here are the projections. In June, most participants expected thirteen 25bp rate hikes in 2022. The FOMC raised rates 25 bp in March, 50 bp in May, 75 bp in June, 75 bp in July and 75 bp in September. That is twelve 25 bp increases so far, and the Fed expects rates to rise another 150 bp.

Banking 95
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AssetBook Launches Valian Communications App

Wealth Management

Valian complements the firm's established Pulse portfolio management and reporting platform.

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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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Weekly Initial Unemployment Claims at 213,000

Calculated Risk

The DOL reported : In the week ending September 17, the advance figure for s easonally adjusted initial claims was 213,000 , an increase of 5,000 from the previous week's revised level. The previous week's level was revised down by 5,000 from 213,000 to 208,000. The 4-week moving average was 216,750, a decrease of 6,000 from the previous week's revised average.

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The Inside ETFs Podcast: ETF Strategies For The Modern Portfolio with Jed Laskowitz

Wealth Management

J.P. Morgan Asset Management's Jed Laskowitz details how ETFs can help advisors develop long-term portfolio strategies, regardless of market conditions.

Portfolio 109
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Hotels: Occupancy Rate Down 2.4% Compared to Same Week in 2019

Calculated Risk

From CoStar: STR: US Hotel Performance Improves; Occupancy Nears 70% Nationwide U.S. hotel performance increased from the previous week and showed improved comparisons with 2019, according to STR‘s latest data through Sept. 17. Sept. 11-17, 2022 (percentage change from comparable week in 2019*): • Occupancy: 69.6% (-2.4%) • Average daily rate (ADR): $155.58 (+15.6%) • Revenue per available room (RevPAR): $108.25 (+12.9%) *Due to the pandemic impact, STR is measuring recovery against comparable t

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Raymond James Launches 'Private Wealth Advisor' Training, Designation

Wealth Management

In October, the first cohort of 49 advisors will graduate from the new program, part of the firm's strategic emphasis on expanding resources for advisors to clients with more than $5 million in assets,

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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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High-Frequency Consumer Spending Data and the Cross-Section of Stock Returns

Alpha Architect

Consumer demand drives the cash flows of consumer-oriented companies. Thus, they should serve as a reliable source of information to predict future fundamentals above and beyond the information contained in financial statements and readily available market data. High-Frequency Consumer Spending Data and the Cross-Section of Stock Returns was originally published at Alpha Architect.

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11 Must Reads for the CRE Industry Today (Sept. 22, 2022)

Wealth Management

High natural gas prices are leading European-based manufacturers to shift operations to the U.S., reports The Wall Street Journal. The AIA’s latest billing index shows demand for design services accelerated in August. These are among today’s must reads from around the commercial real estate industry.

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Daily Volatility Needs To Calm To Draw Back Equity Buyers

Andrew Thrasher

2022 has been a very volatile year despite what the Volatility Index may show. This has caused many active investors and traders a great deal of frustration as they attempt to set their sights on a spike in the VIX Continue reading Daily Volatility Needs To Calm To Draw Back Equity Buyers → The post Daily Volatility Needs To Calm To Draw Back Equity Buyers first appeared on.

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The Healthy Advisor: Rebuilding Healthy Habits After Traumatic Loss With Jonathan DeYoe

Wealth Management

In the summer 2021, advisor Jonathan DeYoe tragically lost his only brother. Since then, he has been on a journey to rebuild healthy habits after experiencing this huge loss.

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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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Should Levered and Inverse ETFs Even Exist?

Alpha Architect

In this article, we explore Levered and Inverse ETPs (exchange-traded products); their purpose, the circumstances in which they tend to succeed and fail, and the research questions associated with them. Should Levered and Inverse ETFs Even Exist? was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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Wells Fargo Sues Company Attorney For Plotting Launch of RIA With Wirehouse Colleagues

Wealth Management

The seven advisors collectively had about $1.2 billion in managed assets, according to the Wells Fargo Advisors' suit against former in-house counsel Steven Satter, who joined his colleagues at the independent firm.

Assets 104
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Time in the market, not market timing.

Nationwide Financial

Time in the market, not market timing, is the more prudent investment strategy to capture market returns. When market volatility is high, market participants often try to predict the highs and lows of the market. After all, who wouldn’t want to time the market to avoid brutal bear market selloffs? Historically, a buy-and-hold approach has generated higher gains over the long run rather than trying to perfectly time when to enter or exit the market.

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NASAA Report Finds Digital Asset Fraud Investigations Up 70%

Wealth Management

NASAA's annual enforcement report charted the continued problem of promissory note fraud, and the rise of interest in the metaverse in the securities markets.

Assets 104
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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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Going Public: How it started, how it’s going

SEI

Going Public: How it started, how it’s going. emudrock1. Thu, 09/22/2022 - 14:17. Card Content Option. Modal Podcast (audio only video). Card Image Alt Text. Headshot of Alfred P. West, Jr, Executive Chairman of SEI Investments. Card Title. Going Public: How it started, how it’s going. Card Subtext. Executive Chairman Alfred P. West Jr. looks back on the decision to take SEI public in 1981, during a time of economic uncertainty.

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Four Lessons From Patagonia Founder Yvon Chouinard Giving Away the Company

Wealth Management

His planning serves as a reminder for advisors to understand our clients’ goals and develop tools to achieve them.

Clients 116
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How Does Inflation Historically Impact Stock Market Returns?

Mullooly Asset Management

In this week’s video Casey puts the historical stock market performance during rising and falling inflation periods into perspective for 2022 investors. Everyone wants to know, when is inflation going to peak? When is it going to go back down again? Casey explains why that is the wrong question folks should be asking. Instead, they […].