October, 2022

Can Anyone Catch Nokia?

The Big Picture

Today’s edition of “ Nobody Knows Anything ” is about a once-dominant mobile phone maker. Exactly 15 years ago, Forbes’s new cover story lauded Olli-Pekka Kallasvuo, Nokia’s CEO.

You weren’t supposed to see that

The Reformed Broker

I’m going to tell you a quick story in the order in which it happened. You were there. You will be familiar with the sequence of these events. But you may not have reached the shocking conclusion that I have. At least not yet.

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Monday links: old finance articles

Abnormal Returns

Small caps Small caps are outperforming of late. allstarcharts.com) And valuations are still attractive. gmo.com) Strategy The past two years help show the agony and ecstasy of stock picking.

Why The Value Of A Roth Conversion Is Calculated Using (True) Marginal Tax Rates

Nerd's Eye View

Roth conversions are, in essence, a way to pay income taxes on pre-tax retirement funds in exchange for future tax-free growth and withdrawals.

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Best Practices to Ace Your Close

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Whether you’re on a 1-day close or a 10-day close, there are some fundamental commonalities that all strong accounting departments share when it comes to the month-end close. Please join us for an informative webinar where we share best practices that your team can implement today to ace your close.

Auto Repossessions Are on the Rise, As People Walk Away From Car Loans

Mish Talk

Consumer Finance Protection Bureau (CFPB) Chart. The CFPB is Examining the Potential Credit Impact of High Vehicle Costs for Consumers.

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More Trending

Collapse in Prospective Home Buyer Traffic

The Big Picture

At the beginning of each quarter, I prepare a short but in-depth conference call for RWM clients. The team & I put together the most revealing and informative slides. In that half hour, I blow through ~40 slides that capture and explain what is going on.

The Investor Opportunity Index hits a two-year high

The Reformed Broker

Every bear market has these two things in common: They end Expected returns go up The first thing is self-explanatory. The second thing should be obvious but from my talks with thousands of investors over the years, I have found that it is most certainly not intuitive to most people.

Monday links: bond market losses

Abnormal Returns

Strategy How much has indexing saved investors in fees? evidenceinvestor.com) Some investors may not understand when they take on leverage. rogersplanning.blogspot.com) Companies Brad Gerstner on how to turn Meta's ($META) stock around.

The Latest In Financial #AdvisorTech (October 2022)

Nerd's Eye View

Welcome to the October 2022 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!

Global Hiring Guide for Startups

Grow your startup beyond borders and boundaries. In this eBook, you’ll discover how you can gain a competitive edge over your business rivals through the latest technology, harnessing global contractors, and using a global employment platform.

California Accuses Valero of Oil Price Gouging, Valero's Response is Amusing

Mish Talk

Chart by California Energy Commission, annotations by Mish. California Energy Commission Goes After Valero Please note CEC Chair David Hochschild Responds to Recent Gasoline Price Spikes. "As

The Best Places to Invest Cash Right Now (Video)

Pragmatic Capitalism

In this new episode of Three Minute Money I discuss some of the best options for investing cash right now. A lot of banks are still offering 0% and the [ …

AI Steve Jobs interviewed by AI Joe Rogan

The Big Picture

This is pretty mind-blowing: a podcast that is entirely generated by artificial intelligence where Joe Rogan interviews Steve Jobs. One of the most important women in Apple’s history never worked for Apple Margot Comstock took her winnings from a TV game show and bought a computer.

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This Week on TRB

The Reformed Broker

Thanks for checking out piece from last Sunday “You weren’t supposed to see that” – it went crazy viral all over the place. I can’t believe how much feedback came in.

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Redefining Wealth: Money Management, FinTech, Inclusion, and Belonging

Speaker: Marguerita Cheng - Chief Executive Officer at Blue Ocean Global Wealth

Join Marguerita Cheng for an engaging conversation on rethinking the concept of wealth and how everyone can benefit from professional money management.

Research links: cutting drawdowns

Abnormal Returns

Research Are index funds to blame for the lack of investment in oil and gas production? ft.com) On the relationship between asset growth and lottery stock status. alphaarchitect.com) The problem with growth: persistence is fleeting.

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Weekend Reading For Financial Planners (Oct 15-16)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the Cost Of Living Adjustment (COLA) for Social Security beneficiaries will be 8.7% for 2023, the largest COLA since 1981.

Former Fed Chair Ben Bernanke Wins Nobel Prize For Wrecking the Economy

Mish Talk

The BBC reports Ben Bernanke, Former US Federal Reserve Chief, Wins Nobel Prize. Ben Bernanke, who led the US central bank during the 2008 financial crisis, is one of three recipients of this year's Nobel prize in economics.

TD Interview: Inflation and Future Credit Risk

Pragmatic Capitalism

Here’s my interview with Oliver Renick and TD from yesterday. I brought my sledge hammer with me to demonstrate how Fed policy is currently operating. I also go into detail [ …

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Top 7 Global Employment Challenges

Global expansion brings many opportunities for companies. However, there are pitfalls along the way that can slow down progress. In this eBook, we look at the 7 key challenges to global growth, and ways to minimize expansion headaches.

Groping for a Bottom

The Big Picture

There’s nothing like confusing market action to send people into narrative creation overdrive. Yesterday’s 2% collapse on hotter-than-expected CPI data, followed by ~5% recovery to finish the day up more than 2% is a perfect example of random market action begetting endless explanations.

This Week on TRB

The Reformed Broker

Hey guys, didn’t get a chance to do any writing this week but we did two really good shows on the YouTube / podcast front I wanted to make sure you don’t miss… And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. .

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Personal finance links: assigning blame

Abnormal Returns

Work There is a difference between avoiding failure and achieving success. bankeronfire.com) Companies are not looking out for your financial needs. tonyisola.com) Ambition comes with a price. radreads.co) Investing Under what circumstances should you tweak an off-the-shelf portfolio?

#FA Success Ep 301: Guiding Clients To Design Their Rich Life With A Focus On Spending Dials Not Goals, With Ramit Sethi

Nerd's Eye View

Welcome back to the 301st episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Ramit Sethi.

Global Hiring Guide: Top Emerging Fintech Hubs

The fintech industry is growing exponentially. Companies can find the talent they need in top emerging fintech hubs around the world. Highly skilled global candidates are available to hire — companies just need to know where to look for them.

Pending Home Sales Slump 31 Percent From Year Ago, 10.2 Percent in September

Mish Talk

Pending home sales chart courtesy of Trading Economics. Understanding Pending Sales New homes are reported at contract closing. Existing home sales are reported at closing. Pending sales represent contracts signed but not closed.

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There’s No Fed "Pivot” Coming

Pragmatic Capitalism

When you pivot in basketball you have full control of the ball and the future outcomes. A pivot can be an effective tool in changing the course of your controlled [ …

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History of Black Monday

The Big Picture

Imagine the impact of markets losing a ~quarter of their value in one trading session. That was what happened 35 years ago today: October 13 th , Black Monday a/k/a the 1987 crash. If you are a relatively young investor, you may be unfamiliar with what happened that day or why.

Help me feed a few thousand families this Thanksgiving

The Reformed Broker

Here’s the deal – during the pandemic I wanted to do a book signing for the fans when we released How I Invest My Money. Obviously, travel and meet and greets weren’t going to happen, so we had to improvise.

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The HR Compliance Playbook: How to Improve Speed-to-Hire

Every global growth to-do list should begin with compliance. Navigating international jurisdictions can be complex and time-consuming, but with solid, up-to-date compliance procedures, companies can maximize efficiency, speed-to-hire, and mitigate risks.

Friday links: generative AI

Abnormal Returns

Finance Per AngelList, the Q3 drop in venture activity was substantial. angellist.com) Questions keep getting raised about TikTok's data practices. forbes.com) Fidelity is not abandoning crypto. bloomberg.com) InstaCart has paused its IPO. axios.com) Global Why isn't Japan raising rates?

Automated Tax-Loss Harvesting Technology: Is The Value Overstated?

Nerd's Eye View

In recent years, numerous software solutions have sprung up that aim to automate the process of tax-loss harvesting.

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Did Republican Odds of Winning the Senate Jump By One Seat or Three?

Mish Talk

538 Senate Forecast as of OCT. 26, 2022, AT 8:43 PM. I ask "Really?!". On Tuesday, Democrat John Fetterman and Republican Mehmet Oz had their first and only debate. It was a disaster for Fetterman, and even the Democrats admit as such.