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We all love to use quotations in our arguments. It’s both an appeal to higher authority as well as social proof ( Hey! I’m not the only one who believes this stuff ). I find it useful occasionally to go back to first principles and reconsider the sources that have influenced my thinmking. Along those lines, here are in chronological order, the thinkers who have helped shape how I view the world view, including how I philosophically think about the economy, markets, and investing.
Wards Auto released their estimate of light vehicle sales for September: September U.S. Light-Vehicles Sales Bounce Back Despite Gloomy Conditions (pay site). Hard to say exactly how much but sales could have been slightly stronger in September if not for some lost inventory caused by production cuts related to plant shutdowns from UAW strikes at Ford, General Motors and Stellantis.
Markets The S&P 500 was down 4.77% in September 2023. (on.spdji.com) There's no shortage of stuff to be worried about at the moment. (tker.co) Rates The yield curve is finally steepening. (awealthofcommonsense.com) Higher interest rates mean higher taxes. (marketwatch.com) Closed-end muni funds are trading at big discounts to NAV. (marketwatch.com) Finance Do you really want a private investment targeted to individual investors?
The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.
Source: Visual Capitalist Batnick also takes a swing at this: What’s the Stock Market Worth? The post $109 Trillion Global Stock Market appeared first on The Big Picture.
Orion Advisor Solutions’ chief behavioral officer explains why advisors should employ “human-first” thinking in their practices at annual Nitrogen conference.
Here is another monthly update on lumber prices. SPECIAL NOTE: The CME group discontinued the Random Length Lumber Futures contract on May 16th. I've now switched to a new physically-delivered Lumber Futures contract that was started in August 2022. Unfortunately, this impacts long term price comparisons since the new contract was priced about 24% higher than the old random length contract for the period both contracts were available.
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Here is another monthly update on lumber prices. SPECIAL NOTE: The CME group discontinued the Random Length Lumber Futures contract on May 16th. I've now switched to a new physically-delivered Lumber Futures contract that was started in August 2022. Unfortunately, this impacts long term price comparisons since the new contract was priced about 24% higher than the old random length contract for the period both contracts were available.
Also on the site Netflix's DVD-by-mail business is winding up. (abnormalreturns.com) Top clicks this week Individual investors win by not competing with professionals. (awealthofcommonsense.com) Why it is so hard to be a truly long term investor. (behaviouralinvestment.com) How long is too long when it comes to your bond allocation? (humbledollar.com) 5%+ T-bill yields are a welcome relief, but don't overdo it.
My mid-week morning train reads: • The insider: how Michael Lewis got a backstage pass for the fall of Sam Bankman-Fried : As author of The Big Short and Moneyball, Michael Lewis is perhaps the most celebrated journalist of his generation. Now he delivers an astonishing portrait of the fallen crypto billionaire. But did he get too close? ( The Guardian ) but see In Michael Lewis, Sam Bankman-Fried found his last and most willing victim.
Nitrogen’s annual Fearless Investing Conference was a clarion call to advisors for navigating waves of change, with a curated agenda laser-focused on growth through adaptation, agility and optimism.
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 6.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 29, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.0 percent on a seasonally adjusted basis from one week earlier.
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.
Strategy Defining what you will invest in, versus what you will not invest in, is important. (awealthofcommonsense.com) Why simplicity in investing can help reduce errors. (mrzepczynski.blogspot.com) Apple Apple's ($AAPL) USB-C transition is going to be rocky. (macworld.com) A review of the Apple ($AAPL) iPhone 15 Pro and Pro Max. (sixcolors.com) Vaccines How research into mRNA vaccinations very nearly didn't happen.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent survey found that clients across several countries who work with a CFP professional have better outcomes on a range of measures compared to those working with other advisors or no advisor at all, suggesting that the potential benefits of gaining CFP certification can accrue not only to the advisor themselves, but also to their clients.
The Census Bureau and the Bureau of Economic Analysis reported : The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $58.3 billion in August , down $6.4 billion from $64.7 billion in July, revised. August exports were $256.0 billion, $4.1 billion more than July exports. August imports were $314.3 billion, $2.3 billion less than July imports. emphasis added Click on graph for larger image.
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.
Podcasts Sam Dogen talks fear with Farnoosh Torabi author of "A Healthy State of Panic: Follow Your Fears to Build Wealth, Crush Your Career, and Win at Life." (sites.libsyn.com) Dan Haylett talks with Hal Hershfield author of "Your Future Self: How to Make Tomorrow Better Today." (humansvsretirement.com) Jon Luskin talks with Steve Chen about DIY retirement planning tools.
I have been playing with Nick’s S&P 500 calculator , and it’s pretty damned, cool. He used data from Robert Shiller’s website and created his own interface going all the way back to 1871. (The default assumes your dividends are reinvested). You can see why RWM hired Nick as our Chief Data Scientist… The post Historical S&P 500 Return Calculator appeared first on The Big Picture.
Altos reports that active single-family inventory was up 1.3% week-over-week. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of September 29th, inventory was at 535 thousand (7-day average), compared to 528 thousand the prior week. Year-to-date, inventory is up 9.0%. And inventory is up 31.9% from the seasonal bottom 24 weeks ago.
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.
September 2023 How major asset classes performed in September 2023. (capitalspectator.com) How factors have performed YTD. (insights.finominal.com) The S&P 500 dropped each week in September. (quantifiableedges.com) Rates JP Morgan Chase ($JPM) is going hard for HNW deposits. (wsj.com) 5%+ yields make financial advice a tougher sell. (bloomberg.com) Crypto There is no love lost between the crypto industry and SBF.
For many financial advisors, financial planning advice traditionally focuses on optimization: tax-efficient, continually rebalanced portfolios are often designed to maximize a client's wealth throughout retirement. Such optimization can serve as the backbone of an advisor's value proposition, providing a bottom-line analysis that communicates why those (not insubstantial) fees are worthwhile at the end of the day.
The headline jobs number in the September employment report was well above expectations, and employment for the previous two months was revised up by 119,000, combined. The participation rate and the employment population ratio were both unchanged, and the unemployment rate was also unchanged at 3.8%. Leisure and hospitality gained 96 thousand jobs in September.
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.
The biz Spotify ($SPOT) has big audiobook ambitions. (nytimes.com) Amazon ($AMZN) is shuttering its Amp audio app. (theverge.com) On the layoffs at Pushkin Industries. (nypost.com) Business Derek Thompson talks with Matthew Ball and Julia Alexander about the state of Disney ($DIS) today. (theringer.com) Roben Farzad talks with Angela Romero and Matthew Boyle about MBA grads buying companies.
People often talk about "the economy" as a single entity whose parts move in unison, with a small number of key indicators (such as GDP, the unemployment rate, and inflation) moving reliably in relation to each other. In reality, though, the economy is a complex web of interdependent factors where events often make sense only in hindsight – and sometimes, not at all.
From Manheim Consulting today: Wholesale Used-Vehicle Prices See Minimal Increase in August Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 1.0% in September from August. The Manheim Used Vehicle Value Index (MUVVI) rose to 214.3, down 3.9% from a year ago. “September auction sales bolstered prices through the channel,” said Chris Frey, senior manager of Economic and Industry Insights for Cox Automotive.
Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste
Markets The stock market is coming to terms with higher interest rates (for longer). (awealthofcommonsense.com) Japan's stock market has some catalysts working in its favor. (wsj.com) Why Treasury securities are different. (ft.com) ETFs State Street Global ($STT) is expanding the number of ETFs that engage in securities lending. (etf.com) The number of fixed income ETFs is on the rise.
Welcome back to the 353rd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Brett Danko. Brett is the Founder of Brett Danko Educational Center, a CFP Board Education and Exam Prep provider, and the CEO and Managing Partner for Main Street Financial Solutions, an independent RIA based in Newtown, Pennsylvania, that oversees almost $2 billion in assets under management for nearly 1,700 client households.
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Hannah Jones: Weekly Housing Trends View — Data Week Ending Sep 30, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 2.6%. During the past week, we observed the 15th successive weekly drop in the number of homes available for sale relative to the previous year.
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.
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