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Here are some things I believe about investing. 1. I believe simple beats complex. The problem is simple is much harder to implement because complex will always sound more intelligent and appealing. 2. I believe the timing of buy or sell decisions matters less than your holding period. Picking tops and bottoms is for the lucky and the liars. Patiently holding onto your investments is more important for most investors than.
The firms, ranging from broker/dealers and dual registrants to affiliated investment advisors, include Interactive Brokers, Nuveen Securities and Baird, among others, and are similar to 2022 charges against Wall Street firms resulting in $1.1 billion in collective penalties.
The BEA released the Personal Income and Outlays report for August: Personal income increased $87.6 billion (0.4 percent at a monthly rate) in August , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes, increased $46.6 billion (0.2 percent) and personal consumption expenditures (PCE) increased $83.6 billion (0.4 percent).
Before your week ends and you head out for door, I had to share a new paper from St. Louis Fed. The title: Can Economists Predict Recessions? Short answer: Maybe a quarter ahead (but not always). Beyond that short time frame, it’s simply too variable: “These questions have taken on particular importance recently. In the past four quarters, economic forecasters have, on average, predicted a 42% probability of a contraction in the U.S. economy in the next quarter, according to the Survey of
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
Podcasts Joe Weisenthal and Tracy Alloway talk with Morgan Housel about how to think about money. (podcasts.apple.com) Christine Benz and Jeff Ptak talk with Michael Santoli about the state of the stock market and economy. (morningstar.com) Home ownership House ownership isn't for everyone. (awealthofcommonsense.com) Why you should keep track of the tax basis of your house.
I stopped the weekly updates of high frequency indicators at the end of 2022. Here is a late September look at four indicators: -- Airlines: Transportation Security Administration -- The TSA is providing daily travel numbers. This data is as of September 24th. Click on graph for larger image. This data shows the 7-day average of daily total traveler throughput from the TSA for 2019 (Light Blue), 2020 (Black), 2021 (Blue), 2022 (Orange) and 2023 (Red).
I stopped the weekly updates of high frequency indicators at the end of 2022. Here is a late September look at four indicators: -- Airlines: Transportation Security Administration -- The TSA is providing daily travel numbers. This data is as of September 24th. Click on graph for larger image. This data shows the 7-day average of daily total traveler throughput from the TSA for 2019 (Light Blue), 2020 (Black), 2021 (Blue), 2022 (Orange) and 2023 (Red).
Mapped: The Migration of the World’s Millionaires in 2023 Source: Visual Capitalist The post Where’s Everyone Going? appeared first on The Big Picture.
Alternatives Private market access funds are all the rage. (morningstar.com) Alternative assets are not all that alternative. (integratinginvestor.com) Will music royalties turn out to be a worthy investment? (wired.com) Asset allocation How various asset classes performed during a recession. (morningstar.com) Achieving these three portfolio goals simultaneously is tough.
From the BEA: Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), Second Quarter 2023 and Comprehensive Update Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2023 , according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent (revised).
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.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that RIA custodial platform Altruist announced that it is offering its portfolio accounting software for free to advisors who custody with the firm, offering the opportunity to advisory firms to reduce the costs of their tech stacks and perhaps presaging competition among custodians to offer more software capabilities for their advisory firm clients!
Cash Advisers are seeing more clients interested in cash. (etf.com) Higher yields are going to be a headwind for risky asset classes. (mrzepczynski.blogspot.com) Finance Zero-day options make up 50% of the S&P 500 options volume. (ft.com) Betterment is closing two of its crypto strategies. (citywire.com) Companies Amazon ($AMZN) just made a big investment in AI startup Anthropic.
Family offices are relying more on salary increases and incentive compensation to compete for talent, according to a new survey by Morgan Stanley’s Single Family Office Advisory group.
The Census Bureau reports New Home Sales in August were at a seasonally adjusted annual rate (SAAR) of 675 thousand. The previous three months were revised up, combined. Sales of new single‐family houses in August 2023 were at a seasonally adjusted annual rate of 675,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
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.
When it comes to advising clients on student loan issues, many financial advisors might first think about recent graduates seeking advice regarding the most effective way to pay down their balances. However, the number of Federal student loan borrowers over the age of 50 has increased significantly in the past 20 years, with many of these borrowers holding Parent PLUS loans that were used to help fund their children's undergraduate education.
Top clicks this week How Morgan Housel invests his portfolio. (etf.com) The hardest thing about being an investor is deciding what to focus on. (behaviouralinvestment.com) Why selling a stock is harder than buying. (flyoverstocks.com) Bond investors are being given an opportunity to lock in 2% real yields. (capitalspectator.com) The credit markets are very different than they were in 2009.
The outgoing CEO of Orion Advisor Solutions shares his journey from the founding of the company, the firm’s growth over the years and perspectives on the future of wealth management, technology and AI.
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 22, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.3 percent on a seasonally adjusted basis from one week earlier.
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.
Welcome back to the 352nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Bridget Venus Grimes. Bridget is the President of WealthChoice, a virtual independent RIA that oversees nearly $80 million in assets under management for 68 client families, and Co-Founder of Equita Financial Network, an advisor platform that helps advisors plug in and share resources.
Books An excerpt from "Optimal Illusions: The False Promise of Optimization" by Coco Krumme. (engadget.com) An excerpt from Michael Wolff's new book, "The Fall: The End of Fox News and the Murdoch Dynasty." (theankler.com) A Q&A with Taylor Lorenz author of "Extremely Online: The Untold Story of Fame, Influence, and Power on the Internet." (vox.com) Health Is the 'war on cancer' a failure?
Also, Vise introduces AI-powered workflow; SEI updates portal, tools; a new report finds that API security incidents are rising in financial services and more.
Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single-Family Mortgage Delinquency Rate Declined, Multi-Family Increased in August Brief excerpt: I’ve argued that there would not be a huge wave of single-family foreclosures this cycle since lending standards have been solid and most homeowners have substantial equity. That means we will not see cascading price declines like following the housing bubble.
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.
In the mid-20th century, the first phone call for a person who needed guidance on saving or planning for retirement was likely to be to a stockbroker or a mutual fund or insurance salesperson. But while some of these salespeople may have certainly been able to provide sound advice, there was really no way at that time for a consumer to know which among the many brokers and agents out there were actually capable of giving true and sound advice that would help them reach their goals.
The biz Google ($GOOGL) is sunsetting Google Podcasts in favor of YouTube Music. (techcrunch.com) Apple ($AAPL) Podcasts now pulls in more content from associated apps. (theverge.com) Spotify ($SPOT) wants to translate podcasts into different languages using the host's voice. (theverge.com) A profile of the guys behind the popular ‘Tooth and Claw’ podcast.
From BofA: Overall, the data flow since our last weekly lowered our 3Q US GDP tracking estimate by a tenth to 2.8%. [Sept 29th estimate] emphasis added From Goldman: The foreign trade details of this morning’s report were stronger than our previous assumptions, and we boosted our Q3 GDP tracking estimate by 0.3pp to +3.5% (qoq ar). We left our domestic final sales growth forecast unchanged on a rounded basis at +2.6%.
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?
We did an astonishing amount of new content this week after being gone last week at the Future Proof event. Getting back in the saddle felt good, especially considering the amazing guests we had. Below is a link to the live stream we did with Zeke Faux, whose new book “Number Go Up” is packed with wild and hilarious stories about rise and fall of the crypto bubble.
Strategy Individual investors win by not competing with professionals. (awealthofcommonsense.com) How long is too long when it comes to your bond allocation? (humbledollar.com) Your view of the markets often depends on your time horizon. (mrzepczynski.blogspot.com) 5%+ T-bill yields are a welcome relief, but don't overdo it. (disciplinefunds.com) Crypto What Ric Edelman sees for the spot Bitcoin ETF space.
Today, in the Calculated Risk Real Estate Newsletter: New Home Sales decrease to 675,000 Annual Rate in August Brief excerpt: The Census Bureau reports New Home Sales in August were at a seasonally adjusted annual rate (SAAR) of 675 thousand. The previous three months were revised up, combined. The next graph shows new home sales for 2022 and 2023 by month (Seasonally Adjusted Annual Rate).
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
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