Sat.Sep 21, 2024 - Fri.Sep 27, 2024

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The Importance of Delegating Financial Decisions to a Professional

Yardley Wealth Management

The post The Importance of Delegating Financial Decisions to a Professional appeared first on Yardley Wealth Management, LLC. The Importance of Delegating Financial Decisions to a Professional Introduction: Managing your finances effectively is essential for achieving your long-term goals and securing your financial future. However, as life gets busier and financial matters become increasingly complex, it can be challenging to stay on top of everything.

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Nobody Knows Anything, The Beatles edition

The Big Picture

In celebration of Abbey Road being released 55 years ago today (September 26, 1969), here is a short, Beatles-related excerpt from my upcoming book: “ How Not To Invest: The ideas, numbers, and behaviors that destroy wealth – and how to avoid them.” The book is being published ~March 18, 2025, and is available for pre-ording today.

Numbers 332
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Commercial Real Estate is Poised to Benefit from Rate Cuts

Wealth Management

The full extent of the benefits to real estate investment of lower rates will also depend on whether the Fed sticks a soft landing.

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Top clicks this week on Abnormal Returns

Abnormal Returns

Top clicks this week on Abnormal Returns Ted Lamade, "Is increased complexity the path to better performance, or would investors be better off if they simply removed a few things?" (collabfund.com) No matter how you spin the numbers, day trading is a losing proposition. (morningstar.com) Paying for stuff is getting complicated. (sherwood.news) Buying the dip isn't easy, or particularly profitable.

Retail 303
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How to Streamline Payment Applications & Lien Waivers Through Innovative Construction Technology

Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant

Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.

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Q3 GDP Tracking: Around 3%

Calculated Risk

From BofA: Since our last weekly publication, our 3Q GDP tracking estimate is down two-tenths to 2.3% q/q saar while 2Q GDP came in at 3.0% q/q saar in the final official estimate. [Sept 27th estimate] emphasis added From Goldman: The details of yesterday’s durable goods report and this morning’s Advance Economic Indicators report were stronger than our previous GDP tracking assumptions, while the details of the PCE report were slightly softer.

Economics 296
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MiB: Kyla Scanlon on Vibecessions & Gen Z

The Big Picture

This week, we speak with Kyla Scanlon , creator, host of YouTube’s,“Let’s Appreciate” podcast , writer of daily short-form videos about economy + markets. She has been published at Bloomberg, New York Magazine, FT, and the NYT. Her new book “ In This Economy?: How Money & Markets Really Work ” just came out this Summer. We discuss how she came up with the idea of a “ Vibecession ” and how it became a popular New York Times guest essay.

More Trending

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Personal finance links: assessing your financial situation

Abnormal Returns

Podcast Barry Ritholtz talks with Brian Portnoy about whether money can buy happiness. (ritholtz.com) Peter Lazaroff on the importance of simplicity in personal finance. (peterlazaroff.com) Carl Richards talks money and life with journalists Jodi Kantor and Ron Lieber. (50fires.com) Tim Ranzetta talk financial literacy with Tony and Dina Isola of Ritholtz Wealth Management.

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ICE: "Home prices continued to cool in August, with prices up +3.0%" YoY

Calculated Risk

Note: This is a repeat sales index (like Case-Shiller and FHFA). ICE is releasing this index early this month. Several cities in Florida are now seeing year-over-year price declines (as inventory surges). From ICE: • Home prices continued to cool in August, with prices up +3.0% from the same time last year according to the ICE Home Price Index, marking the slowest rate of home price growth in over a year • On an adjusted basis prices rose by +0.12% in the month – the slowest adjusted monthly gro

Sales 284
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Why Pre-Tax Retirement Contributions Are Better Than Roth In Peak Earning Years (Even If Tax Rates Increase)

Nerd's Eye View

Over the last 60 years, the top Federal marginal tax bracket has steadily decreased from over 90% in the 1950s and 60s to 'just' 37% today. However, with the national debt expanding rapidly, observers of U.S. tax policy are predicting that Congress will inevitably be forced to again increase tax rates in order to raise revenue and balance the national budget – and that the current regime of relatively low tax rates will prove to be a temporary phenomenon.

Taxes 246
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CIA Veteran Brings Geopolitical Intelligence to Wealth Management

Wealth Management

TAG Intel is led by Jack Devine, a 32-year veteran of the CIA, who aims to democratize the information he’s been bringing to global corporate clients since 2000.

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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

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Monday links: an irritating tactic

Abnormal Returns

Markets The U.S. stock market is up 35 of the past 52 weeks. (sherwood.news) The U.S. is 26% of global GDP. The stock market makes up 63% of global market cap. (mailchi.mp) The Fed It's not unusual for the Fed to cut rates when stocks are at an all-time high. (awealthofcommonsense.com) We give the Fed way more credit than they deserve. (aswathdamodaran.blogspot.com) Fed members talk WAY too much these days.

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Inflation Adjusted House Prices 1.5% Below 2022 Peak; Price-to-rent index is 7.8% below 2022 peak

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.5% Below 2022 Peak Excerpt: It has been over 18 years since the bubble peak. In the July Case-Shiller house price index on Tuesday, the seasonally adjusted National Index (SA), was reported as being 74% above the bubble peak in 2006. However, in real terms, the National index (SA) is about 11% above the bubble peak (and historically there has been an upward slope to real house prices).

Numbers 278
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Weekend Reading For Financial Planners (September 28–September 29)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent study by Cerulli has shown a sharp increase in the number of affluent investors willing to pay for advice, which on the one hand reflects the increasing financial complexity in peoples' lives (while they've also gotten busier than ever at work and at home) to the extent that they're more willing to work with someone to navigate those financial challenges; while al

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Interest Rate Cuts Don't Spell Doom for Private Credit

Wealth Management

The impact lower rates are likely to have on private credit funds goes beyond an expected decline in yields.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

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Longform links: the digital biosphere

Abnormal Returns

Books A look at "Opus: The Cult of Dark Money, Human Trafficking, and Right-Wing Conspiracy Inside the Catholic Church" by Gareth Gore. (nymag.com) An excerpt from “Fools on the Hill: The Hooligans, Saboteurs, Conspiracy Theorists and Dunces who Burned Down the House,” by Dana Milbank. (wapo.st) A Q&A with Alok Sama author of "The Money Trap: Lost Illusions Inside the Tech Bubble.

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Watch Months-of-Supply!

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Watch Months-of-Supply! A brief excerpt: Both inventory and sales are well below pre-pandemic levels, and I think we need to keep an eye on months-of-supply to forecast price changes. Historically nominal prices declined when months-of-supply approached 6 months - and that is unlikely any time soon - however, as expected, months-of-supply is back to 2019 levels.

Sales 279
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7 New Lessons Learned Building A Fee-Only RIA From Scratch: Years 3–5

Nerd's Eye View

Starting a new firm can be a nerve-wracking time for an entrepreneurially minded financial advisor, as making the jump involves a significant amount of professional and financial risk. Nonetheless, after a year or 2 in business, some firm owners will find that their plate is becoming full and their available time is shrinking as they balance servicing current clients with marketing for new ones and also possibly managing staff.

Fee Only 246
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Good Estate Planning Never Goes Out of Style

Wealth Management

Don’t let the uncertainty about future tax policy interfere with taking action to meet your client’s goals.

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How To Overcome Change Fatigue In Finance With Neuroscience-Backed Strategies

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Friday links: trading temptations

Abnormal Returns

Markets Most stocks are working right now. (theirrelevantinvestor.com) Some investments are an IQ test. (downtownjoshbrown.com) It's easy to get distracted these days as an investor. (youngmoney.co) Finance ETF assets in the U.S. just hit $10 trillion. (finance.yahoo.com) A Q&A with Vlad Tenev, CEO of Robinhood ($HOOD). (fastcompany.com) OpenAI Why is everybody seemingly leaving OpenAI?

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New Home Sales Decrease to 716,000 Annual Rate in August; Median New Home Price is Down 9% from the Peak

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Decrease to 716,000 Annual Rate in August Brief excerpt: The Census Bureau reported New Home Sales in August were at a seasonally adjusted annual rate (SAAR) of 716 thousand. The previous three months were revised up. The next graph shows new home sales for 2023 and 2024 by month (Seasonally Adjusted Annual Rate).

Sales 259
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At the Money: Why Stocks Are Your Best Bet for the Long Run

The Big Picture

Why Stocks Are Your Best Bet with Jeremy Schwartz, WisdomTree (September 25, 2024) Are equities the best long-term investment? If so, is that always true? In this episode of At the Money, we speak with Jeremy Schwartz about why you should, or should not, go heavy on stocks. ~~~ About Jeremy Schwartz: Jeremy Schwartz is Global Chief Investment Officer of WisdomTree, leading the firm’s investment strategy team in the construction of equity Indexes, quantitative active strategies, and multi-asset M

Portfolio 167
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Vestmark Partners with BlackRock on Custom Model Portfolios

Wealth Management

The collaboration brings together the tax management technology of Vestmark with the highly scalable model construction capabilities of BlackRock.

Portfolio 299
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2025 Industry Index: How Top Advisors Are Scaling Smarter (and Faster) This Year

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

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Thursday links: news cynicism

Abnormal Returns

Markets U.S. earnings estimates, and margins, continue to tick higher in 2024. (carsongroup.com) Covid was boon for U.S. corporate profitability. (sherwood.news) Strategy How would you do if had tomorrow's newspaper today? (ft.com) Investing is simple but not easy. (thefinancialbodyguard.com) Finance Not every sovereign wealth fund is created alike.

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PCE Measure of Shelter Increases to 5.3% YoY in August

Calculated Risk

Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through August 2024. CPI Shelter was up 5.2% year-over-year in August, up from 5.0 in July, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 5.3% YoY in August , up from 5.2% in July, and down from the cycle peak of 8.3% in April 2023.

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The Middle Class: Feelings vs. Finances

A Wealth of Common Sense

Gallup has a poll that asks Americans what income strata they belong in. The results are relatively stable over the past 20+ years: Most people say middle class while very few people think they are upper class. The Pew Research Center has a new tool that allows you to enter your income and see where it is you fit both nationally and locally. Their numbers show the Gallup poll is right on the money as far as middle-class.

Numbers 143
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Attributes of a Great Retirement Plan Advisor

Wealth Management

The bar is only getting higher for retirement plan advisors.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Adviser links: making a mistake

Abnormal Returns

Podcasts Josh and Michael talk with Peter Mallouk, founder and CEO of Creative Planning. (youtube.com) Carl Richards and Michael Kitces talk about managing your firm knowing that market-related revenue declines happen. (kitces.com) Brendan Frazier talks with Isaac Presley about how to create more intentional goals. (podcasts.apple.com) Thomas Kopelman and Jacob Turner talks estate planning for business owners.

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Housing Sept 23rd Weekly Update: Inventory up 1.6% Week-over-week, Up 37.2% Year-over-year

Calculated Risk

Altos reports that active single-family inventory was up 1.6% week-over-week. Inventory is now up 46.8% from the February seasonal bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of September 20th, inventory was at 725 thousand (7-day average), compared to 714 thousand the prior week. This is the highest level of inventory since May 2020.

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An Epic Bull Market

A Wealth of Common Sense

The bull market of the 1980s and 1990s is the stuff dreams are made of.1 The S&P 500 was up nearly 18% per year over the course of those two decades.2 It’s one of the great bull markets in history. But if we want to get picky, the bull market didn’t truly start until 1982. There were back-to-back recessions in 1980 and 1981-82. You had a 17% correction in 1980 along with a near-30% bear market that bottome.

Marketing 142
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Merrill, Harvest Volatility Management Pay $9.3M to Settle SEC Charges Over Excess Fees

Wealth Management

The two firms are in hot water over sales of Harvest’s “Iron Condor” strategy that resulted in $5 million in excess management fees and commissions.

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The New Way Remote Finance Teams Are Protecting Accuracy And Building Resilience In A Cyber-Threatened World

Speaker: Cheryl J. Muldrew-McMurtry

Remote finance teams are rewriting how the back-office runs—and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats have become more than just “growing pains”. They’re now liabilities. The challenge isn’t just team distribution, but building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.