The Reformed Broker
DECEMBER 1, 2022
LET’S GIVE A ROUND OF APPLAUSE TO SAM BANKMAN-FRIED pic.twitter.com/HIVB3nTX2V — The_Real_Fly (@The_Real_Fly) November 30, 2022 Last night’s interview between the New York Times’ Andrew Ross Sorkin and Sam Bankman-Fried ended with the host thanking the accused criminal mastermind for coming, despite the protestations of his lawyers. The audience applauded as the screen went black.
Mish Talk
DECEMBER 2, 2022
Payroll and employment data from the BLS, chart by Mish. Today, the Bureau of Labor Statistics released its Monthly Payroll Report. Initial Thoughts The discrepancy between jobs and employment continues for the eighth month. Lost in the unemployment and jobs headline noise are huge divergences between jobs and employment dating back to March. Payrolls vs Employment Since March 2022 Nonfarm Payrolls: +2,692,000 Employment Level: +12,000 Full Time Employment: -398,000 Employment fell by 138,000 in
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The Big Picture
DECEMBER 2, 2022
It is amazing to think about how Toyota blew its enormous lead in Hybrid tech, failing to launch any substantial push into EVs. The chart below shows exactly how much sales have fallen for the first hybrid EV America has fallen into — and then out of love with. The Prius today badly lags the RAV4, its sister crossover, in Toyota hybrid sales. But the latest design is a handsome reboot, and should help sales pick up.
The Chicago Financial Planner
NOVEMBER 27, 2022
One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. As a fellow small businessperson, I know how hard you work. You deserve a comfortable retirement. If you don’t plan for your own retirement who will? Two popular small business retirement plans are the SEP-IRA and Solo 401(k).
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
The Reformed Broker
NOVEMBER 30, 2022
Let’s assume we’re going to have a recession in 2023. I don’t know if we will, but everyone seems to think so, so let’s just say. So what. What can you do to stop it? Not much. Can you change your own spending and psych yourself up to survive it? Absolutely. Are there changes you could make to a portfolio in order to gird yourself for a worsening economy?
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Big Picture
DECEMBER 2, 2022
This was a fun conversation with my buddy Pete about all the media madness these days — it was as I was recovering from C19, and while I felt fine, my voice sounds pretty gravelly. If you find that kind of thing tolerable, people seemed to really like this discussion. Lots more details here. Enjoy! The post November 2022: Stand Up with Pete appeared first on The Big Picture.
Nerd's Eye View
NOVEMBER 29, 2022
Welcome back to the 309th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Anh Tran. Anh is the Founder and Managing Partner for SageMint Wealth, a corporate LPL-affiliated RIA based in Orange, California, that oversees nearly $325 million for 195 client households. What's unique about Anh, though, is how, as a solo advisor, she differentiates her firm by leveraging the combination of a high-touch concierge approach to client service with a unique investment mana
The Reformed Broker
NOVEMBER 28, 2022
Hey guys, hope everyone had a nice Thanksgiving. Five day weekends are rare, hope yours was relaxing and fun. I’ll be in Houston for three days next week – my first time ever in that city! We’re taping a live version of The Compound and Friends podcast at the Dynasty Investors Forum. I will also be interviewing my friend Patrick O’Shaughnessy on stage about the custom and direct indexing revolution.
Mish Talk
NOVEMBER 26, 2022
Worst of Its Kind? Bloomberg writer Merryn Somerset Webb says FTX Crypto Bubble Really Is the Worst of Its Kind. Investment bubbles tend to leave behind something useful when they pop. Unfortunately, crypto looks like an outlier. Webb compares the crypto bubble to the bicycle bubble of 1896 that left us with better bicycles, automobiles that were initially so slow people mocked them with "get a horse", and the DotCom bust that left us with far better technology.
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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.
The Big Picture
NOVEMBER 30, 2022
Last day of the 11th month! Enjoy the end of November with our mid-week morning train reads: • How Much Growth Can You Expect? Imagine I present to you a magical box that can turn your money into more money. The only problem is that you don’t know exactly how much more money you’ll get from this box. You could put $100 into the box and get back $200, $400, or maybe only $150 when all is said and done.
Nerd's Eye View
NOVEMBER 30, 2022
Taxes are a central component of financial planning. Almost every financial planning issue – whether it is retirement, investments, cash flow, insurance, or estate planning – has tax considerations, and advisors provide a great deal of value in helping clients minimize their overall tax burden. And yet, despite the prominent role of taxes in financial planning, advisors are often prohibited by their compliance departments from making recommendations for a specific course of action on
The Reformed Broker
NOVEMBER 26, 2022
Hope everyone’s had a happy Thanksgiving. The shot above is from our annual Turkey Bowl football match. I had one reception and spent most of the game on the line where I belong, counting mississippis and menacing their QB. We’ve been playing in this game with the neighborhood dads and kids since the boys were babies. My son and his friends are all teenagers now.
Abnormal Returns
DECEMBER 2, 2022
The biz Podcasting ad revenue is expected to rise in 2023. (insideradio.com) Joe Rogan maintained his hold as the No. 1 podcaster on Spotify for 2022. (variety.com) The problem with Spotify ($SPOT) Wrapped. (wired.com) Anderson Cooper is working through his grief on a new podcast 'All There Is With Anderson Cooper.' (nytimes.com) Business Joe Weisenthal and Tracy Alloway talk with Margaret O'Mara author of the book "The Code: Silicon Valley and the Remaking of America.
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.
The Big Picture
NOVEMBER 28, 2022
Source: Federal Reserve Bank of Philadelphia. The Coincident State Indexes for October 2022 snuck out last week right before Thanksgiving. You might have missed it during the holiday week, but it’s worth reviewing. The specifics are noteworthy: -Over the past month, the indexes increased in 20 states, decreased in 22 states, and remained stable in eight, making a one-month diffusion index of -4.
Nerd's Eye View
DECEMBER 1, 2022
As financial planning has evolved over the years, better tools have become available to help advisors maximize their impact with more clients by increasing their efficiency. Financial planning technology, in particular, has allowed advisors to automate time-intensive back-office tasks and delegate routine analyses to support staff, freeing up their time to engage more personally with clients.
Mish Talk
DECEMBER 1, 2022
ISM chart and details below by permission of the Institute for Supply Management. Please consider the November 2022 Manufacturing ISM ® Report On Business ® “Manufacturing contracted in November after expanding for 29 straight months. Panelists’ companies continue to judiciously manage hiring, other than October 2022, the month-over-month supplier delivery performance was the best since February 2012, when it registered 47 percent and material lead times declined approximately 9 percent from the
Abnormal Returns
NOVEMBER 27, 2022
Top clicks this week Lessons learned from a young Warren Buffett. (neckar.substack.com) How do stocks beat inflation? (thereformedbroker.com) The normalization of interest rates is going to change how people invest. (blairbellecurve.com) There are five levels of wealth. (physicianonfire.com) Five reasons for optimism, including 'expected returns are rising.
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
The Big Picture
NOVEMBER 26, 2022
The weekend is here! Pour yourself a mug of Danish Blend coffee, grab a seat by the fire, and get ready for our longer-form weekend reads: • Climate Change from A to Z : The stories we tell ourselves about the future. ( New Yorker ). • A comprehensive guide to how Elon Musk is changing Twitter : Mass layoffs, trolling, and check marks: How Elon Musk is running Twitter. ( Vox ) see also Twitter was special.
Nerd's Eye View
NOVEMBER 28, 2022
Traditionally, investment planning has been at the forefront of how financial advisors add value for their clients. From advisors who earn commissions from the sales of financial products to fee-only investment advisors who charge based on client assets under management, the value advisors provide to their clients has often been centered on investment management.
Mish Talk
NOVEMBER 30, 2022
Really Worried about IRA Eurointelligence writes Industry is Really Worried about IRA. Whether you talk to European industrialists in Brussels or German industrialists in Berlin, you get the same message these days. They are really worried about the US inflation reduction act. At the BDI conference in Berlin, it was the dominant subject. FAZ quotes the president of the German federation of industry as saying that more than a fifth of German medium-sized companies they had polled were considering
Abnormal Returns
DECEMBER 1, 2022
Books An excerpt from "G-Man: J. Edgar Hoover and the Making of the American Century" by Beverly Gage. (theatlantic.com) A Q&A with Nick Hornby about his new book "Dickens and Prince: A Particular Kind of Genius." (observer.com) An excerpt from "Unreasonable Hospitality: The Remarkable Power of Giving People More Than They Expect" by Will Guidara.
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All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!
The Big Picture
NOVEMBER 28, 2022
5 years ago, a dear friend unexpectedly passed away. Once his crew recovered from our initial shock, we decided to establish the Richard Yamarone Memorial Scholarship in Economics at Brooklyn College.* The driving force behind the scholarship was TBP Invictus. Art Cashin shared a reminder today: “Many of us were deeply saddened (5 yearsa go today) to learn of the sudden passing of Rich Yamarone at age 55 of complications of a cardiac event.
Nerd's Eye View
NOVEMBER 28, 2022
Traditionally, investment planning has been at the forefront of how financial advisors add value for their clients. From advisors who earn commissions from the sales of financial products to fee-only investment advisors who charge based on client assets under management, the value advisors provide to their clients has often been centered on investment management.
Mish Talk
NOVEMBER 28, 2022
Crypto Firms in Bankruptcy Proceedings End of an Era The Balance Sheet Assets $256 million. Liabilities $1 to $10 billion. Fun Fact The SEC has a $30 million unsecured claim on BlockFi. Inverse Cramer Strategy Yet Again The Wall Street Journal reports BlockFi Files for Bankruptcy as Latest Crypto Casualty BlockFi, based in Jersey City, N.J., is only beginning to answer how its hundreds of thousands of customers will fare in an insolvency.
Abnormal Returns
NOVEMBER 27, 2022
Strategy Rising interest rates reset a whole host of financial questions. (humbledollar.com) Why fraud seems more prevalent these days. (awealthofcommonsense.com) Companies Disney ($DIS) had more than just a CEO problem. (ft.com) Shopping on Amazon ($AMZN) continues to get worse. (washingtonpost.com) T. Rowe Price ($TROW) has come out against a merger between News Corp. and Fox.
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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.
The Big Picture
NOVEMBER 26, 2022
This week, we speak with Boaz Weinstein, the chief investment officer of Saba Capital Management LP, which Weinstein founded in 2009 as a lift-out of Saba Principal Strategies. Prior to founding Saba, Boaz Weinstein was co-head of global credit trading at Deutsche Bank, where he oversaw approximately 650 professionals. We discuss why being long volatility in an era of Fed tightening is so challenging, and why so many funds that hedged have disappointed this year.
Nerd's Eye View
DECEMBER 2, 2022
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with a research study suggesting that the market volatility experienced in 2022 could increase demand for financial planning services. This increased demand could be particularly acute among younger investors (who might be experiencing an inflationary environment and sustained market downturn for the first time) and those nearing retirement (who might seek professional guid
Mish Talk
DECEMBER 1, 2022
Real, inflation-adjusted inventory data from the BEA via St. Louis Fed, chart by Mish. The chart shows "real" inflation-adjusted inventories. The index year is 2012. In four of the last six recession, inventories continued to build well into recession. In the other two, inventories peaked just prior to or at the start of recession. Biggest Ramp in Wholesale Inventory History.
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