Calculated Risk

JUNE 4, 2024

From the BLS: Job Openings and Labor Turnover Summary The number of job openings changed little at 8.1 million on the last business day of April , the U.S. Bureau of Labor Statistics reported today. Over the month, both the number of hires and total separations were little changed at 5.6 million and 5.4 million, respectively. Within separations, quits (3.5 million) and layoffs and discharges (1.5 million) changed little. emphasis added The following graph shows job openings (black line), hires (

Numbers 331

Numbers Economy Marketing Marketing 331

Wealth Management

JUNE 6, 2024

Create a brand focused on you by being relatable and authentic helps gain clients.

Clients 325

Clients 325

The Big Picture

JUNE 6, 2024

I spend a lot of time debunking investment-related b t. Given the general innumeracy of the public, it’s easy for a dishonest publisher of economic data to create narratives that are not only false and misleading but effective at confusing the public. Typically, it takes years before sufficient data amasses to prove how wrong these people were.

Economics 64

Economics Sales Numbers Marketing 64

Abnormal Returns

JUNE 5, 2024

Podcasts Barry Ritholtz talks with Peter Mallouk about better managing your financial affairs. (ritholtz.com) Dan Haylett talks with Stephanie McCullough, founder of Sophia Financial, about the challenges facing women planning for retirement. (humansvsretirement.com) Jonathan Clements and Peter Mallouk talk about the challenges of raising money savvy children.

Estate Planning 298

Estate Planning Retirement Planning Accounting 298

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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

Accounting

Calculated Risk

JUNE 7, 2024

The headline jobs number in the May employment report was well above expectations, however March and April payrolls were revised down by 15,000 combined. The participation rate and employment population ratio decreased, and the unemployment rate increased to 4.0%. Construction employment increased 21 thousand and is now 613 thousand above the pre-pandemic level.

Numbers 318

Numbers Economics Manufacturing 318

Wealth Management

JUNE 4, 2024

What if your client’s annuity wasn’t an annuity?

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Abnormal Returns

JUNE 4, 2024

Markets The best time to prepare for a bear market is before it begins. (awealthofcommonsense.com) When you own $240 million of a meme stock, does it actually own you? (sherwood.news) Companies Does Intel ($INTC) have a route forward? (spyglass.org) Weird stuff happens when a CEO controls overlapping companies. (theverge.com) Tech The rubber is hitting the road with the CHIPS Act.

Financial Advising 293

Financial Advising Economy Valuation Media 293

Calculated Risk

JUNE 6, 2024

What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For April, Realtor.com reported inventory was up 35.2% YoY, but still down almost 34% compared to April 2017 to 2019 levels. Now - on a weekly basis - inventory is up 35.5% YoY. Realtor.com has monthly and weekly data on the existing home market.

Sales 301

Sales Marketing Marketing 301

Wealth Management

JUNE 4, 2024

The tenth annual WealthManagement.com Industry Awards ceremony will be held in New York City on Sept. 5.

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Nerd's Eye View

JUNE 7, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that recent surveys indicate that consumers continue to trust human financial advisors more than Artificial Intelligence (AI)-powered tools. Nonetheless, respondents (particularly those in younger generations) do not see this as an either-or choice, but rather anticipate benefitting from working with human advisors who leverage AI tools for certain tasks (e.g., detecting fraud

Financial Planner 189

Financial Planner Financial Advisor Certification Estate Planning 189

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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

Clients

Abnormal Returns

JUNE 6, 2024

Books Jack Raines talks with Kyla Scanlon about her new book "In This Economy?: How Money & Markets Really Work." (sherwood.news) An excerpt from "Triumph of the Yuppies: America, the Eighties, and the Creation of an Unequal Nation" by Tom McGrath. (politico.com) An excerpt from "In the Shadows: True Stories of High-Stakes Negotiations to Free Americans Captured Abroad" by Mickey Bergman.

Economy 287

Economy Marketing Marketing 287

Calculated Risk

JUNE 7, 2024

From Manheim Consulting today: Wholesale Used-Vehicle Prices Declined in May Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in May compared to April. The Manheim Used Vehicle Value Index (MUVVI) fell to 197.3, a decline of 12.1% from a year ago. The seasonal adjustment to the index reduced the impact on the month, resulting in values that declined 0.6% month over month.

Consulting 297

Consulting Sales 297

Wealth Management

JUNE 4, 2024

SAM INSIGHTS, Ask SAM and SAM Score are the latest iterations of the Canadian firm’s AI-based planning platform.

Planning 315

Planning Management 315

Nerd's Eye View

JUNE 5, 2024

For the most part, solo advicers launching their first practice often have plenty of time and not a lot of revenue, which means they tend to take care of every aspect of the business themselves. As their practices grow and they start to serve more clients, though, advicers invariably reach a point where they simply don't have the time to do everything on their own and need to decide whether to make their first hire (or not!).

Compliance 189

Compliance Clients Consulting Accounting 189

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.

Management

Abnormal Returns

JUNE 7, 2024

Markets Why the ranks of 'degens' are growing. (wsj.com) How to avoid the meme stock drama. (morningstar.com) Some math that traders need to know. (scheplick.com) Crypto What Robinhood ($HOOD) wants with BitStamp. (blockworks.co) Autos The car market is normalizing. (nytimes.com) Unsold Tesla ($TSLA) inventory is piling up. (sherwood.news) Tourism How much does tourism help you understand about another country?

Math 286

Math Financial Advising Media Economy 286

Calculated Risk

JUNE 1, 2024

At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • Case-Shiller: National House Price Index Up 6.5% year-over-year in March • Inflation Adjusted House Prices 2.2% Below Peak • Fannie and Freddie: Single Family Serious Delinquency Rate Decreased in April, Multi-family Increased Slightly • Final Look at Local Housing Markets in April and a Look Ahead to May Sales This is usually published 4 to 6 times a week and provides more in-depth analysis of the housin

Sales 292

Sales Marketing Marketing 292

Wealth Management

JUNE 6, 2024

F2 Strategy's co-founder and CEO provides his take on the most important wealth management technology news of the last month.

Wealth Management 314

Wealth Management Management 314

The Big Picture

JUNE 1, 2024

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • How Rage, Boredom and WallStreetBets Created a New Generation of Young American Traders : WallStreetBets, the bizarre and often offensive message board that Rogozinski started on Reddit, would eventually come to occupy a key position at the center of a movement that turned millions of young Americans into investors and traders.

Asset Allocation 182

Asset Allocation Portfolio Management Management Assets 182

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.

Numbers

Abnormal Returns

JUNE 6, 2024

Markets When does 'talking your book' tip over into market manipulation? (wsj.com) Why you shouldn't be worried about index funds just yet. (thefinancialbodyguard.com) Crypto Robinhood ($HOOD) is buying BitStamp. (theblock.co) Franklin Templeton ($BEN) is exploring funds with altcoins. (coindesk.com) Former FTX customers just got a big break. (sherwood.news) Alternatives There are very good reasons why hedge fund managers are not publicly traded.

Financial Advising 278

Financial Advising Media Economy Economics 278

Calculated Risk

JUNE 3, 2024

Altos reports that active single-family inventory was up 1.7% week-over-week. Inventory is now up 22.4% from the February bottom, and at the highest level since August 2020. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of May 31st, inventory was at 605 thousand (7-day average), compared to 595 thousand the prior week.

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Wealth Management

JUNE 7, 2024

According to the new Capgemini World Wealth Report, advisors and families offices are eyeing the same pool of ultra-wealthy clients. By working together, they could both benefit.

Wealth Management 309

Wealth Management Clients Management 309

The Big Picture

JUNE 4, 2024

Today, I am participating in a few events at Bloomberg’s Hedge Fund Forum 2024. I will be moderating the Emerging Managers Panel (I did this last year as well). It is a great collection of three new(ish) managers, in a variety of areas, all of whom have put up solid numbers: 3:45 PM Panel Discussion: Emerging Managers Panelists: Vince Aita, CIO & Managing Partner, Cutter Capital Management Brian Hurst, Founder and CIO, ClearAlpha Technologies Melvin Ike, Founder and Managing Partner, The

Wealth Management 147

Wealth Management Management Numbers 147

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.

Accounting

Abnormal Returns

JUNE 3, 2024

Podcasts Dan Haylett talks with Jamie Hopkins about rewiring the way we think about retirement and its underlying assumptions. (humansvsretirement.com) Bogumil Baranowski talks with Brian Portnoy of Shaping Wealth about the search for funded contentment. (open.spotify.com) Charles Schwab Charles Schwab ($SCHW) will rely on iCapital to power its push into alternatives.

Estate Planning 278

Estate Planning CFP Retirement Assets 278

Calculated Risk

JUNE 7, 2024

The Federal Reserve released the Q1 2024 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits rose to $160.8 trillion during the first quarter of 2024. The value of directly and indirectly held corporate equities increased $3.8 trillion and the value of real estate increased $0.9 trillion. Household debt increased 2.9 percent at an annual rate in the first quarter of 2024.

Nonprofit 217

Nonprofit Assets Accounting 217

Wealth Management

JUNE 5, 2024

BlackRock, Fidelity Investments, Franklin Templeton and State Street will collaborate with the technology provider more than ever before to personalize creation of investment portfolios.

Portfolio 306

Portfolio Assets Management Investing 306

A Wealth of Common Sense

JUNE 2, 2024

The pandemic housing boom means Americans have more home equity than ever. Households have added roughly $12 trillion in home equity since the end of 2019: To put this number in context, there was only ~$6 trillion in home equity following the bursting of the housing bubble following the Great Financial Crisis. Out of the $32 trillion in total equity, let’s say half of it is tappable (meaning homeowners can cash it.

Banking 142

Banking Numbers 142

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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

Accounting

Abnormal Returns

JUNE 4, 2024

Research What happened to the short term reversal effect? (klementoninvesting.substack.com) What can we really learn from a century of capital markets returns? (blogs.cfainstitute.org) Do more diverse hedge fund teams outperform? (alphaarchitect.com) Why one CTA manager may not be enough to capture managed futures returns. (mrzepczynski.blogspot.com) Why you should let AI listen to earnings calls.

Retirement 278

Retirement Taxes Management Marketing 278

Calculated Risk

JUNE 3, 2024

From the Census Bureau reported that overall construction spending decreased: Construction spending during April 2024 was estimated at a seasonally adjusted annual rate of $2,099.0 billion, 0.1 percent below the revised March estimate of $2,101.5 billion. The April figure is 10.0 percent (±1.5 percent) above the April 2023 estimate of $1,907.8 billion. emphasis added Private and public spending decreased: Spending on private construction was at a seasonally adjusted annual rate of $1,611.9 billi

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Wealth Management

JUNE 4, 2024

The new features include a one-stop client portal, cloud data platform, consolidated APIs and portfolio management suite.

Portfolio Management 305

Portfolio Management Portfolio Clients Management 305

A Wealth of Common Sense

JUNE 4, 2024

Through the end of May, the S&P 500 has experienced 24 new all-time highs this year alone. Volatility has been relatively low for some time now. We haven’t had a 2% down day on the S&P 500 in well over 300 trading days: That’s fast approaching the longest streak without a nasty down day over the past 10 years. The S&P 500 is up around 11% for the year on a total return basis.

Marketing 133

Marketing Marketing 133

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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?

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