Calculated Risk
NOVEMBER 21, 2022
Active inventory decreased slightly. Here are the same week inventory changes for the last four years ( usually inventory declines seasonally through the Winter ): 2022: -3.0K (smaller than usual decrease in inventory) 2021: -8.9K 2020: -10.5K 2019: -14.7K Altos reports inventory is down 0.5% week-over-week and down 1.5% from the peak on October 28th.
The Big Picture
NOVEMBER 21, 2022
You may have missed this wonderful Josh Zumbrun column in the Wall Street Journal last week: “ Inflation and Unemployment Both Make You Miserable, but Maybe Not Equally.”. It’s one of those things that are so obvious no one ever stops to think about it – and so we have overlooked this for decades. 1. Stop for a moment and consider the original Misery Index formula as invented by the economist Arthur Okun : add the 3.7% unemployment rate ( BLS NFP ) to the 7.7% inflation rate as measured by the c
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Wealth Management
NOVEMBER 21, 2022
Even as rent growth slows down compared to earlier in the year, many markets are still seeing strong numbers.
Mish Talk
NOVEMBER 21, 2022
Please consider these COP 27 Closing Statements by the Secretary-General. COP27 took place not far from Mount Sinai, a site that is central to many faiths and to the story of Moses, or Musa. It’s fitting. Climate chaos is a crisis of biblical proportions. Instead of a burning bush, we face a burning planet. Justice for those on the frontlines who did so little to cause the crisis – including the victims of the recent floods in Pakistan that inundated one-third of the country.
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Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste
Wealth Management
NOVEMBER 21, 2022
Lessons learned from professional football team owners on business succession.
Nerd's Eye View
NOVEMBER 21, 2022
A common service model for many financial advisory firms is to schedule annual client meetings throughout the year where the advisor meets with each client in the month they started working with the firm, and conducts a comprehensive review of all planning topics for the client. Which means that on any given workday, advisors might find themselves reviewing one client’s portfolio and another’s estate plan in the morning, and having a meeting with a third client later in the afternoon
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
NOVEMBER 21, 2022
Strategy The best uncorrelated asset in a downturn is mindset. (thewaiterspad.com) Why you should spend as little time on investing as possible. (moontower.substack.com) Crypto Coinbase ($COIN) is feeling the effects of the FTX blowup. (observer.com) The discount on the Grayscale Bitcoin Trust ($GBTC) keeps widening. (theblock.co) Companies Big Tech made the same problem: expecting Covid era behavior to continue.
Wealth Management
NOVEMBER 21, 2022
Voters in the midterms in a handful of states enacted new rent stabilization measures. What does that mean for multifamily investors?
Calculated Risk
NOVEMBER 21, 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 November 20th. 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
NOVEMBER 21, 2022
The number of pro bono legal clinics for retail investors harmed by bad investment advice has fallen dramatically over the past decade, leaving many small-dollar claimants to face arbitration panels alone or, more often, do nothing at all.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
Calculated Risk
NOVEMBER 21, 2022
Note: This is as of October 31st. From the MBA: Share of Mortgage Loans in Forbearance Increases Slightly to 0.70% in October The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased by 1 basis point from 0.69% of servicers’ portfolio volume in the prior month to 0.70% as of October 31, 2022.
Wealth Management
NOVEMBER 21, 2022
As C. Dabney O’Riordan departs the SEC's Asset Management Unit for Quinn Emanuel, she spoke with WealthManagement.com on what the industry can expect from regulators in the coming year around enforcement of new rules: 'I expect the SEC is going to want to send a message.
Calculated Risk
NOVEMBER 21, 2022
From Matthew Graham at Mortgage News Daily: Mortgage Rates Little-Changed to Start Holiday-Shortened Week Mortgage rates made their biggest recent move (and their biggest single day move ever) 2 Thursday's ago after a key report showed inflation was lower than expected in October. There has been some jockeying for position among various mortgage lenders since then, but remarkably little change to the average 30yr fixed rate which is once again in the mid 6% range. [ 30 year fixed 6.64% ] emphasi
Wealth Management
NOVEMBER 21, 2022
With lenders becoming more conservative, opportunities have emerged in the capital stack for investors willing to shoulder added risk.
Speaker: David Worrell, CFO, Author & Speaker
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Abnormal Returns
NOVEMBER 21, 2022
Podcasts Jeff Ptak and Christine Benz talk with Feraud Calixte who is the founder and lead financial planner of Vantage Pointe Planning. (morningstar.com) Mark Bruno speaks with Brandon Kawal, principal of Advisor Growth Strategies, about the challenge of attracting talent. (wealthmanagement.com) Brendan Frazier talks the four pillars of a client discovery meeting.
Wealth Management
NOVEMBER 21, 2022
Investors continue to view commercial real estate favorably in the current market environment, reports Chief Investment Officer. JLL would like to become an SFR landlords, according to The Real Deal. These are among today’s must reads from around the commercial real estate industry.
Calculated Risk
NOVEMBER 21, 2022
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in October A brief excerpt: The big story for October existing home sales was the sharp year-over-year (YoY) decline in sales. Another key story was that new listings were down further YoY in October as many potential sellers are locked into their current home (low mortgage rate).
Wealth Management
NOVEMBER 21, 2022
CFO looks at how a new push for corporations to cut expenses is reducing demand for office space. MBA Newslink conducted a roundtable with special servicers on what to expect if a recession takes hold. These are among today’s must reads from around the commercial real estate industry.
Speaker: Erroll Amacker
Automation is transforming finance but without strong financial oversight it can introduce more risk than reward. From missed discrepancies to strained vendor relationships, accounts payable automation needs a human touch to deliver lasting value. This session is your playbook to get automation right. We’ll explore how to balance speed with control, boost decision-making through human-machine collaboration, and unlock ROI with fewer errors, stronger fraud prevention, and smoother operations.
Alpha Architect
NOVEMBER 21, 2022
This paper explores the question of option momentum by examining what the research says about the performance of option investments across different stocks. Does Momentum work in Option Markets? was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
Wealth Management
NOVEMBER 21, 2022
Do weeks of single-digit deals mean the RIA M&A market has turned a corner? Deal-makers weigh in.
XY Planning Network
NOVEMBER 21, 2022
8 MIN READ. Thinking is free. This is something I occasionally like to remind the entrepreneurs I work with when I begin to sense someone slipping into a mild (or not-so-mild) panic over the seemingly endless list of things to figure out and decisions to make when starting a business. After working with small business owners for over a decade, I am no stranger to the pressure so many people feel to get their ducks in a row, launch, and grow as quickly as possible.
Wealth Management
NOVEMBER 21, 2022
Market uncertainty, high inflation and rising interest rates have emphasized the importance of flexibility in seeking compelling investment opportunities. A flexible, multi-asset approach can enable investors to adapt to changing market conditions and pursue their objectives.
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Prosperity Coaching
NOVEMBER 21, 2022
When Should a Financial Advisor Hire a Junior Advisor? When you reach 80% of capacity, this is the time to think about and plan to hire your junior advisor. The post When Should a Financial Advisor Hire a Junior Advisor? appeared first on The Prosperous Advisor Coaching Blog.
Wealth Management
NOVEMBER 21, 2022
The proportion of U.S. banks tightening terms on loans for medium and large businesses and for commercial real estate rose last quarter to levels usually seen during recessions, according to a Fed survey of lending officers released earlier this month.
Advisor Perspectives
NOVEMBER 21, 2022
Socially responsible firms pay more for the external audits of their financial statements, thereby lowering risks to investors. But those lower risks also mean lower returns for investors.
Wealth Management
NOVEMBER 21, 2022
The philanthropy hands out a fortune each year. It also sits on a lot more.
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Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
Advisor Perspectives
NOVEMBER 21, 2022
Lifetime annuities in concert with allocations to stocks, TIPS, bond ladders and other diversified investments help retirees weather changing conditions regarding inflation and interest rates.
Wealth Management
NOVEMBER 21, 2022
Trading volume in bearish put options for the consumer discretionary sector spiked recently. Similar skepticism was seen in May when a slew of retailers cut their annual profit forecasts.
Advisor Perspectives
NOVEMBER 21, 2022
The Chicago Fed National Activity Index (CFNAI) decreased to –0.05 in October from +0.17 in September. Three of the four broad categories of indicators used to construct the index made negative contributions in October, and three categories deteriorated from September. The index’s three-month moving average, CFNAI-MA3, moved down to +0.09 in October from +0.19 in September.
Wealth Management
NOVEMBER 21, 2022
Is the concept of owner’s equivalent rent the best way to measure housing inflation when calculating CPI?
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