The Big Picture
FEBRUARY 22, 2024
A quick note to answer this question: What happens after markets make a new all-time high (after a year w/o one)? Check out the table above, via Warren Pies. He spoke with Batnick and Josh earlier this month. Going back to 1954, markets are always higher one year later – the only exception was 2007. That was after housing had peaked, subprime mortgages were defaulting, and the great financial crisis was about to start.
Wealth Management
FEBRUARY 20, 2024
All eyes are on the Federal Reserve and the timing of rate cuts.
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Calculated Risk
FEBRUARY 23, 2024
From ICE (formerly Black Knight): ICE First Look at Mortgage Performance: Foreclosures Up but Delinquencies Improve as the Mortgage Market Kicks Off 2024 • In an expected rebound from December’s calendar-driven rise, t he national delinquency rate dropped to 3.38% in January , the lowest since October, and flat from the same time last year • Past-due mortgages were down across the board, as inflows and rolls to later stages of delinquency fell, while early- and late-stage delinquency cures impro
Abnormal Returns
FEBRUARY 18, 2024
Also on the site At a certain age it's time to just say no to more stuff. (abnormalreturns.com) There is no holy grail in investing. (abnormalreturns.com) It may take time, but markets eventually work. (abnormalreturns.com) Top clicks this week A look at five new finance books including "The Trading Game" by Gary Stevenson. (axios.com) Why you should diversify internationally.
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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
The Big Picture
FEBRUARY 17, 2024
Over the past few years, my automotive focus has been drawn from achingly beautiful classic cars , toward something newer: Hybrids, EVs, and assorted new technologies. I like to keep current, and that means tracking recent trends and developments in the automotive industry. But when the most beautiful car I have seen in decades comes along — and has a beastly 656+ HP — well, I revert to my default petrolhead status and drool something that sounds like arghgeghh … The photos are
Wealth Management
FEBRUARY 22, 2024
Technology innovations have made it easier than ever for non-retirement-expert advisors to offer retirement solutions.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
FEBRUARY 19, 2024
Podcasts Peter Lazaroff dives deeper into equity compensation with Derek Jess of Plancorp. (peterlazaroff.com) Why older women are saying no to marriage, largely for money reasons. (washingtonpost.com) Daniel Crosby offers another sneak preview of an essay from his upcoming book, "The Soul of Wealth." (standarddeviationspod.com) Trends The wealth management industry is going to be slammed with demand.
Nerd's Eye View
FEBRUARY 23, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that while both the total number of RIAs and advisor headcount have seen significant gains in recent years, client assets remain concentrated among the largest firms, according to data from Cerulli Associates, with the 7% of RIAs with at least $1 billion of AUM managing 71% of total RIA assets.
Wealth Management
FEBRUARY 21, 2024
Kitces discusses the 2023 Advisor Wellbeing Study and the factors contributing to advisors’ happiness.
Calculated Risk
FEBRUARY 21, 2024
Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: AIA/Deltek Architecture Billings Index Reports Sluggish Conditions to Start 2024 rchitecture firm billings remained soft entering into 2024, with an AIA/Deltek Architecture Billings Index (ABI) score of 46.2 in January. Any score below 50.0 indicates decreasing business conditions. “ This now marks the lengthiest period of declining billings since 2010 , although it is reassuring that
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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
Abnormal Returns
FEBRUARY 21, 2024
Markets The list of Europe's biggest stocks are filled with pharma companies. (euronews.com) Hedge funds have been underweight the Magnificent Seven. (ft.com) Strategy Certainty sells. Nuance is what matters. (downtownjoshbrown.com) Don't invest in alternatives unless you are in it for the long run. (morningstar.com) Private equity Private equity distributions are way off their highs.
Nerd's Eye View
FEBRUARY 19, 2024
The 2024 Technology Tools for Today (T3) Advisor Conference, held last month in Las Vegas, Nevada, featured a large gathering of financial advisors and representatives from across the fintech industry. Hosted by Joel Bruckenstein and his team from T3 Consulting, the conference focused heavily on the relationship between financial advice and its accompanying fintech, covering everything from how AI and other tech developments are changing the advisor landscape in unprecedented ways to the importa
Wealth Management
FEBRUARY 22, 2024
Investors tend to appreciate private credit for delivering current income and lower volatility. In a world of higher interest rates, it also gives them the opportunity to achieve higher yields.
Calculated Risk
FEBRUARY 20, 2024
Today, in the Calculated Risk Real Estate Newsletter: Single Family Built-for-Rent Almost Doubled Since 2020 A brief excerpt: Along with the monthly housing starts report for January released last week, the Census Bureau also released Housing Units Started by Purpose and Design through Q4 2023. The first graph shows the number of single family and multi-family units started with the intent to rent.
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.
Abnormal Returns
FEBRUARY 21, 2024
Podcasts Barry Ritholtz talks with Jeffrey Hirsch about how the stock market performs during war. (ritholtz.com) Khe Hy talks with Kyla Scanlon about lessons learned from the attention economy. (open.spotify.com) Thomas Kopelman and Jacob Turner discuss some common personal finance misconceptions. (podcasts.apple.com) Chris Williamson talks the laws of human psychology with Morgan Housel.
Nerd's Eye View
FEBRUARY 22, 2024
At the end of each calendar year, social media platforms compile a wrap-up of each user's metrics, showing a theoretical reach for every account's best-performing piece of created media content and highlighting the "Best Of The Best" on the web, while revealing social media 'superstars' who have millions of impressions and followers. But how much do these numbers really matter for financial advisors driving the growth of their businesses?
Wealth Management
FEBRUARY 23, 2024
Cambridge's Nick Graham details the opportunities AI creates when it comes to financial advice.
Calculated Risk
FEBRUARY 20, 2024
From Matthew Graham at Mortgage News Daily: Mortgage Rates Modestly Lower To Start The Week Most mortgage lenders set rates for the first time this week on Tuesday (today) due to yesterday's holiday. In the bigger picture, rates are still very close to their highest levels in more than 2 months following a series of higher inflation readings last week. [ 30 year fixed 7.11% ] emphasis added Wednesday: • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortga
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
FEBRUARY 22, 2024
Japan The Nikkei 225 has reach an all-time high for the first time since year-end 1989. (axios.com) Just a reminder the Nikkei is still below its high on a real basis. (klementoninvesting.substack.com) ETFs Higher short term yield have been a tailwind for the innovative Alpha Architect 1-3 Month Box ETF ($BOXX). (bloomberg.com) The ECB isn't crazy about spot Bitcoin ETFs.
The Big Picture
FEBRUARY 23, 2024
This week, we speak with Andrew Slimmon , managing director at Morgan Stanley Investment Management , where he leads the Applied Equity Advisors team. He is also the lead senior portfolio manager on all long equity strategies for the applied equity advisors team, as well as a member of the Morgan Stanley Wealth Management Global Investment Committee.
Wealth Management
FEBRUARY 23, 2024
Wintrust will move two businesses and 85 advisors to the LPL Institution Services platform from Wells Fargo.
Calculated Risk
FEBRUARY 22, 2024
Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Increased to 4.00 million SAAR in January Excerpt: Sales Year-over-Year and Not Seasonally Adjusted (NSA) The fourth graph shows existing home sales by month for 2023 and 2024. Sales declined 1.7% year-over-year compared to January. This was the twenty-ninth consecutive month with sales down year-over-year.
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.
Abnormal Returns
FEBRUARY 22, 2024
Books A Q&A with Kara Swisher author of "Burn Book: A Tech Love Story." (wired.com) A Q&A with Margot Susca author of "Hedged: How Private Investment Funds Helped Destroy American Newspapers and Undermine Democracy." (politico.com) A Q&A with Kurt Wagner's author of "Battle for the Bird: Jack Dorsey, Elon Musk, and the $44 Billion Fight for Twitter's Soul.
The Big Picture
FEBRUARY 17, 2024
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • NFL Succession Crisis Forces Teams to Let Private Equity In : Once treated as heirlooms, pro football franchises are now billion-dollar businesses, and a new class of investors is circling. ( Bloomberg ) • Boeing is a wake-up call : America’s businesses gambled that ‘greed is good.’ Now they’re losing that bet, big time. ( Business Insider ) • Offic
Wealth Management
FEBRUARY 20, 2024
And how that will change the business models of advisors.
Calculated Risk
FEBRUARY 21, 2024
From the Fed: Minutes of the Federal Open Market Committee, January 30–31, 2024. Excerpt: In discussing risk-management considerations that could bear on the policy outlook, participants remarked that while the risks to achieving the Committee's employment and inflation goals were moving into better balance, they remained highly attentive to inflation risks.
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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Abnormal Returns
FEBRUARY 23, 2024
Strategy There are no iron laws in finance. (youngmoney.co) Investors need to match decision making with the time frame. (mrzepczynski.blogspot.com) Exchanges The Nasdaq ($NDAQ) has a reverse stock split problem. (wsj.com) A look at some of the most shorted stocks in the world. (ft.com) Finance The biggest multi-manager hedge funds, Citadel, Millennium and Point72, keep getting bigger.
A Wealth of Common Sense
FEBRUARY 18, 2024
There’s a cohort of people who think the stock market is rigged. They assume it’s a casino where only certain people win and everyone else loses. Or everything is manipulated by the Fed and the results are fake. If it weren’t for the bailouts or falling interest rates or government spending or the Taylor Swift Eras Tour, the whole house of cards would collapse.
Wealth Management
FEBRUARY 22, 2024
The capital from Allianz and Constellation Wealth will be used AlTi Global to pursue organic and acquisition-based growth strategies.
Calculated Risk
FEBRUARY 21, 2024
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 10.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 16, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 10.6 percent on a seasonally adjusted basis from one week earlier.
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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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