The Big Picture
AUGUST 12, 2024
I’m deep in my book writing work discussing federal debt when I see a tweet that simply epitomizes the entire genre. Full disclosure: My priors on federal debt are that I don’t know where the line of too much should be drawn, but I do know that none of the terrible things we were warned about over the past 50 years due to excess debt have come to pass.
Wealth Management
AUGUST 14, 2024
The agency doesn’t have the authority to fully forgive fines and interest.
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Calculated Risk
AUGUST 13, 2024
Fannie reported results for Q2 2024. Here is some information on single-family Real Estate Owned (REOs). Fannie Mae reported the number of REOs decreased to 7,179 at the end of Q2 2024, down 10% from 7,971 at the end of the previous quarter, and down 17% year-over-year from Q2 2023. For Fannie, this is down 96% from the 166,787 peak number of REOs in Q3 2010.
Abnormal Returns
AUGUST 11, 2024
Top clicks this week Good luck trying to figure out the stock market these days. (sherwood.news) The stock market is not economy, and vice versa. (awealthofcommonsense.com) On the differences between individual bonds and bond funds. (humbledollar.com) What to do the next time the stock market tanks. (tonyisola.com) You may be surprised by what Olympians eat.
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The Big Picture
AUGUST 11, 2024
Our story so far : Stuck at home over the pandemic, it was a perfect time to revisit a pastime of my youth – buying cheap beater cars, and turning them into something fun and worthwhile. Only this time, I have a lifetime of experience with what does and doesn’t work well, along with a somewhat more generous budget. All of this got restarted about a decade ago; I was personalizing a 2013 flood salvage-title Rubicon ; it reminded me how much fun it was to do these little projects.
Wealth Management
AUGUST 12, 2024
Our columnist sees the future of wealthtech in a small band of young entrepreneurs solving the “lead generation” problem.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
AUGUST 14, 2024
Companies Mars Inc. is buying Cheez-It maker Kellanova ($K). (wsj.com) Tilray Brands ($TLRY) has acquired four craft breweries from Molson Coors ($TAP). (finance.yahoo.com) Finance How much of the work of a junior analyst can be done by AI? (ft.com) Reverse stock splits are usually a last ditch effort. (sherwood.news) Fund management Ten questions for Vanguard's new CEO Salim Ramji.
Nerd's Eye View
AUGUST 16, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Securities and Exchange Commission (SEC) announced that a total of 26 broker-dealers, investment advisers, and dually-registered firms agreed to pay combined civil penalties of almost $400 million for failing to maintain and preserve required records for "off-channel" communications, signaling the regulator's interest in cracking down on text messages and other communi
Wealth Management
AUGUST 13, 2024
The finalization of the actress’ divorce gave her control over her estate plan.
Calculated Risk
AUGUST 14, 2024
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 16.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 9, 2024. The Market Composite Index, a measure of mortgage loan application volume, increased 16.8 percent on a seasonally adjusted basis from one week earlier.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
Abnormal Returns
AUGUST 15, 2024
Companies Brian Niccol has his hands full with turning around Starbucks ($SBUX). (barrons.com) Apple ($AAPL) stock was a much bigger bargain when Buffett first purchased shares. (bloomberg.com) Why Airbus has been unable to take full advantage of Boeing's ($BA) woes. (nytimes.com) Finance It seems the SEC will approve just about any ETF these days. (ft.com) What VC returns look like in the real world.
Nerd's Eye View
AUGUST 12, 2024
In the modern era of financial advice, the advicer/client relationship is tightly centered on trust. And because of that foundation of trust, in an ideal advisor/client relationship, mistakes, disagreements, and concerns are surfaced quickly; action items are agreed and acted upon by everyone involved; and everyone feels aligned and accountable to their overall objectives.
Wealth Management
AUGUST 16, 2024
Some athletes might see a tax bill for their Olympics triumphs.
Calculated Risk
AUGUST 14, 2024
The BLS reported this morning: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.9 percent over the last 12 months to an index level of 308.501 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment. CPI-W is the index that is used to calculate the Cost-Of-Living Adjustments (COLA).
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
AUGUST 13, 2024
Venture capital There is nothing normal about the distribution of angel investment returns. (blogs.cfainstitute.org) How VCs drive media coverage of their portfolio companies. (papers.ssrn.com) Research How long can stocks underperform inflation? (ofdollarsanddata.com) Retail trading frenzies can have real world impacts. (papers.ssrn.com) How much protection do individual investors need?
The Big Picture
AUGUST 10, 2024
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The End of Spam: Robocalls and texts… your days are numbered : The industry blasting your phone with spam calls and texts is about to implode. The feds could throw a wrench into the opaque, sometimes sketchy, and incredibly lucrative lead-generator industry. ( Sherwood ) • The Well-Off People Who Can’t Spend Money : Tightwads drag around a phantom limb of poverty, no
Wealth Management
AUGUST 12, 2024
Estate planning and financial planning are two peas in a pod that are becoming inextricably tied.
Calculated Risk
AUGUST 14, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-August 2024 A brief excerpt: Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-August 2024 I reviewed home inventory, housing starts and sales. In Part 2, I will look at house prices, mortgage rates, rents and more.
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
AUGUST 12, 2024
Fidelity Fidelity has released two technology packages for small and mid-sized RIAs. (citywire.com) Hopes are high for the Fidelity/Advyzon service offering. (riabiz.com) Altruist Altruist is shifting more clients onto its own custodian platform. (riabiz.com) The latest in financial advisortech including a look at Altruist' new product offerings. (kitces.com) Advisers Why private equity is going after retail investors: fees, high fees.
A Wealth of Common Sense
AUGUST 16, 2024
I’m a neat freak, so occasionally, I clean out my office and re-organize. While doing so earlier this week I came across an old Life magazine a reader sent me a number of years ago. It’s from June 1962 and the stock market was the cover story: The pictures are fantastic. So was the lede of the story: The signs, like rumblings of an Alpine ice pack at the time of thaw, had been heard.
Wealth Management
AUGUST 14, 2024
More than two dozen broker/dealers and RIAs agreed to pay a combined $392.75 million in penalties, including Raymond James, LPL, Edward Jones and Osaic, among others.
Calculated Risk
AUGUST 12, 2024
Altos reports that active single-family inventory was up 1.3% week-over-week. Inventory is now up 40.2% from the February seasonal bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of August 9th, inventory was at 693 thousand (7-day average), compared to 684 thousand the prior week. This is the highest level of inventory since June 2020 ; however, inventory is still well below pre-pandemic levels.
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Abnormal Returns
AUGUST 13, 2024
Bonds Bonds are back as portfolio balance. (morningstar.com) Bonds have had a good run of late. (ft.com) Markets Exchange stocks are outperforming. (allstarcharts.com) Have defensive stocks finally stopped going down? (entrylevel.topdowncharts.com) How small cap sector weights differ from large cap. (ft.com) Fund management Index funds have succeeded in spite of the asset management industry.
Nerd's Eye View
AUGUST 13, 2024
Welcome everyone! Welcome to the 398th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Eric Wulff. Eric is the CEO of Marcum Wealth, an RIA based in Cleveland, Ohio, that oversees $2.5 billion in assets under management for approximately 2,700 client households. What's unique about Eric, though, is how he has built Marcum Wealth into a multi-billion-dollar firm under the umbrella of a national accounting firm, in large part by cultivating mutually beneficial rel
Wealth Management
AUGUST 15, 2024
A new study claims that for every dollar spent on sports gambling, net investments in stocks and other financial instruments dropped by just over $2.
Calculated Risk
AUGUST 16, 2024
From the Census Bureau: Permits, Starts and Completions Housing Starts: Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,238,000. This is 6.8 percent below the revised June estimate of 1,329,000 and is 16.0 percent below the July 2023 rate of 1,473,000. Single-family housing starts in July were at a rate of 851,000; this is 14.1 percent below the revised June figure of 991,000.
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Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
Abnormal Returns
AUGUST 12, 2024
Markets Callie Cox, "Your portfolio’s success depends on your behavior during the wild panics." (optimisticallie.com) Just how high did the VIX get last week? (ft.com) Media Why Apple ($AAPL) should. buy Warner Bros. Discovery ($WBD). (spyglass.org) Disney ($DIS) is not done investing in parks. (wsj.com) Matt Belloni talks with Rich Greenfield about the linear TV meltdown.
Advisor Perspectives
AUGUST 14, 2024
The Consumer Price Index for Urban Consumers (CPI-U) released for July puts the year-over-year inflation rate at 2.89%. The latest reading keeps inflation below the 3.74% average since the end of the Second World War for the 14th straight month. However, inflation remains above the 10-year moving average which is now at 2.83%.
Wealth Management
AUGUST 15, 2024
Take these steps to ensure your RIA is ready for an influx in advisors and clients.
Calculated Risk
AUGUST 15, 2024
The DOL reported : In the week ending August 10, the advance figure for seasonally adjusted initial claims was 227,000 , a decrease of 7,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 233,000 to 234,000. The 4-week moving average was 236,500, a decrease of 4,500 from the previous week's revised average.
Speaker: Aaron Berson
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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