Mish Talk
DECEMBER 19, 2022
8Chart courtesy of StockCharts.Com, annotations by Mish. A long-term chart suggests the real driver for gold is not inflation, not the dollar, not conspiracies, not China, and not oil, but rather faith in central banks. Timeline Synopsis Nixon closed the gold redemption window on August 15, 1971. The price of gold was $35 an ounce. Faith in the dollar and central banks collapsed.
The Big Picture
DECEMBER 19, 2022
My back-to-work morning train WFH reads: • Why Hot Wheels are one of the most inflation-proof toys in American history : Hot Wheels are a retail oddity. They remain one of the most affordable toys in the country at a time when inflation is chipping away at savings accounts and compounding credit card debt for many Americans. ( NPR ). • The Fed Is Making a Mistake—and the Stock Market Will Pay the Price : The central bank raised interest rates by half a point and promised to hold rates higher for
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Abnormal Returns
DECEMBER 19, 2022
Markets Ruchir Sharma, "In the end, there will be nowhere to hide in a tight money era." (ft.com) Risk parity strategies have had a rough 2022. (institutionalinvestor.com) Crypto What's the future for the Grayscale Bitcoin Trust ($GBTC) if they can't convert to an ETF. (wsj.com) A deep dive into the business of Binance.US. (dirtybubblemedia.substack.com) Some fund investors went all-in on cryptocurrencies and are not paying the price.
Calculated Risk
DECEMBER 19, 2022
Active inventory decreased last week. Here are the same week inventory changes for the last four years ( usually inventory declines seasonally through the Winter ): 2022: -13.5K 2021: -13.1K 2020: -14.4K 2019: -18.1K Altos reports inventory is down 2.5% week-over-week and down 9.6% from the peak on October 28th. Click on graph for larger image. This inventory graph is courtesy of Altos Research.
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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.
Investment Writing
DECEMBER 19, 2022
Have you resolved to exercise more? With that in mind, I’ve updated this list of free and low-cost online exercise classes that I originally created during the early months of the COVID-19 pandemic. I am grateful to my writer friends who suggested these resources to me. My current exercise favorites. My go-to website for low-impact cardio exercise is Team Body Project.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Indigo Marketing Agency
DECEMBER 19, 2022
As a financial advisor, your job requires you to stay on top of leading industry information, the evolving ways to connect with clients, and new strategies for managing money. With so much going on, it can be challenging to keep track of everything. That’s why we’ve identified the top 41 financial influencers we believe will greatly impact the industry in 2023.
Wealth Management
DECEMBER 19, 2022
Smaller advisors, in the sub-$250 million AUM range, discuss their challenges, goals and desire to maintain control of their businesses, rather than participate in the red hot market for M&A.
Calculated Risk
DECEMBER 19, 2022
These indicators are mostly for travel and entertainment. It was interesting to watch these sectors recover as the pandemic impact subsided. -- Airlines: Transportation Security Administration -- The TSA is providing daily travel numbers. This data is as of December 18th. Click on graph for larger image. This data shows the 7-day average of daily total traveler throughput from the TSA for 2019 (Light Blue), 2020 (Black), 2021 (Blue) and 2022 (Red).
Wealth Management
DECEMBER 19, 2022
Parsons, Kan.-based Strategic Partners joins from Royal Alliance, an Advisor Group subsidiary, and aligns with LPL OSJ National Financial Alliance.
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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.
Integrity Financial Planning
DECEMBER 19, 2022
Starting out your investing journey, you may have been advised to follow the 60/40 allocation strategy. This strategy tells you to put 60% of your portfolio in equities and 40% in bonds or other fixed-income offerings. For decades, this strategy has been revered for its balance, offering high growth potential from stocks and a safety net in bonds. [1] The assumption was that stock and bond markets would not dip at the same time, mitigating risk and enabling long-term growth of investment account
Wealth Management
DECEMBER 19, 2022
GlobeSt.com looks at whether investment sales are likely to recover in the new year. Small and midsize businesses in the U.S. are increasingly relying on nearshoring to deal with supply chain issues, reports Chain Store Age. These are among today’s must reads from around the commercial real estate industry.
Advisor Perspectives
DECEMBER 19, 2022
The economic tea leaves suggest that 2023 could be another challenging year for both stocks and bonds. However, the outlook is more balanced given that equity valuations are much lower and bond yields much higher.
Wealth Management
DECEMBER 19, 2022
Denver Broncos owner Pat Bowlen resigned as CEO of the team in 2014 and died in 2019. His unique estate plan tasked a group of trustees with finding a new owner.
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.
XY Planning Network
DECEMBER 19, 2022
5 MIN READ. Over the past year, we've published articles written with one purpose in mind: to help independent financial advisors be successful. As 2022 comes to a close, we rounded up our top 10 most-viewed blogs published this year. From designing a website that will convert to implementing processes to scale your firm, this list is loaded with one helpful resource after another to send you into the new year.
Wealth Management
DECEMBER 19, 2022
Big investors may hunt for value-add and opportunistic plays in the coming year amid rising allocations.
A Wealth of Common Sense
DECEMBER 19, 2022
Today’s Talk Your Book is brought to you by Constrained Capital: See here to learn more about investing in companies with capital constraints and here for further disclosures and information regarding Constrained Capital On today’s show, we are joined by Mark Neuman, Founder and CIO of Constrained Capital to discuss investing in ESG orphaned companies.
Wealth Management
DECEMBER 19, 2022
Advisors and analysts look back on their best and worst calls, with ideas on ways retail investors should position themselves heading for the new year.
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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
DECEMBER 19, 2022
Rising interest rates was the dominant story in 2022. Did fixed income losses cripple insurance companies? Or has the insurance industry shifted the risk to your clients who purchased their products?
Wealth Management
DECEMBER 19, 2022
PIMCO’s Flexible Real Estate Income Fund is the latest example of this strategy.
Getting Your Financial Ducks In A Row
DECEMBER 19, 2022
Photo credit: jb. One of the key components that the Social Security Administration uses to calculate your Social Security retirement benefit is called the Average Indexed Monthly Earnings, or AIME (don’t you just love the acronym-loving Social Security Administration? Errr… SSA.). The AIME is calculated by taking the highest-earning (by index) 35 years of your working life while covered by Social Security, and then computing an average monthly amount based upon those indexed amounts.
Alpha Architect
DECEMBER 19, 2022
Pastor, Stambaugh, and Taylor (2015) and Zhu (2018) provide significant evidence of decreasing returns to scale (DRS) at both the fund and industry levels. The authors examine the robustness of their inferences after Adams, Hayunga, and Mansi (2021) critique the above two studies. Bigger is Not Always Better in Asset Management was originally published at Alpha Architect.
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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!
Advisor Perspectives
DECEMBER 19, 2022
“I have never seen so much bearishness in the market,” Jeremy Siegel said, “which is a great sign for stock investors.
Wealth Management
DECEMBER 19, 2022
The SEC’s proposal to overhaul how transactions are conducted reads like the invention of lawyers and economists who can’t see the easy fix that exists right before their eyes.
David Nelson
DECEMBER 19, 2022
By David Nelson, CFA CMT. What did we learn last week? It should be clear that Jay Powell isn’t going to be able to declare victory until he sees visible deterioration in the job market. Peak inflation is likely behind us. Unfortunately, better-than-expected prints in headline indicators like the CPI won’t be enough to get anything that resembles a Fed Pivot.
Wealth Management
DECEMBER 19, 2022
Kenneth Griffin claims the agency violated his right to privacy.
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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.
Cornerstone Financial Advisory
DECEMBER 19, 2022
Recession Concerns, Fed Talk Keep Stocks Cold. Presented by Cornerstone Financial Advisory,LLC. Hawkish comments by the Fed and weak economic data heightened investors’ recession concerns and sent stocks lower last week. The Dow Jones Industrial Average lost 1.66%, while the Standard & Poor’s 500 retreated 2.08%. The Nasdaq Composite index declined 2.72% for the week.
Validea
DECEMBER 19, 2022
An array of quant investing strategies that do particularly well in turbulent times are on track to have their best year since 2000, reports an article in The Wall Street Journal , and they’re hoping the market turmoil will continue to extend their successful run. The quant funds build their bets on growing trends as different assets rise or fall, switching into new positions if the algorithms they’ve set up warn them that a shift is coming.
Advisor Perspectives
DECEMBER 19, 2022
At a recent climate-finance meeting attended by Wall Street giants including BlackRock Inc. and Goldman Sachs Group Inc., no one spoke until a lawyer had finished reading out a disclaimer stating the group was not a cartel.
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