Alpha Architect
FEBRUARY 28, 2023
In this article, the authors examine the research on the benefits of international diversification. Some argue that because equity markets generally crash simultaneously, there are no benefits to having equity diversification. The evidence from this paper rejects this hypothesis. Does International Diversification Work? was originally published at Alpha Architect.
The Big Picture
MARCH 2, 2023
Fascinating dive into rent increases on a county by county basis via USAFacts: Rents rose in 58% of all counties nationwide between 2020 and 2023. Data shows that rents rose and dipped between neighboring zip codes. Housing prices jumped during the COVID-19 pandemic as remote work caused many Americans to reconsider their living situations. Rent prices also rose, with inflation-adjusted median rent growing from $1,163 in 2019 to $1,191 in 2021, according to the US Census Bureau.
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The Reformed Broker
FEBRUARY 26, 2023
Act I Our hero Josh Brown spends a decade working at a succession of third-tier brokerage firms on Long Island and in New York City. He’s in his early twenties and knows less than nothing about stocks, bonds, mutual funds, investing, the economy, financial advice or anything else germane to the profession. He works for thieves, hustlers, well-meaning know-nothings and the morally compromised, men who will say and se.
Nerd's Eye View
MARCH 1, 2023
When holding discovery meetings with a prospective client, financial advisors often ask the prospect about their goals. The hope is that these conversations will help the prospect ease into a positive frame of mind (by thinking about a vacation, retirement, or another future aspiration) and, at the same time, present the advisor with an opportunity to show how their services can help the prospect achieve their goals.
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Abnormal Returns
FEBRUARY 27, 2023
Podcasts Christine Benz and Jeff Ptak talk with Derek Tharp about retirement-spending strategies, sequence risk, and portfolio construction. (morningstar.com) Daniel Crosby talks with Rachel J. Robasciotti is the Founder and CEO of Adasina Social Capital. (standarddeviationspod.com) Michael Kitces talks with Danqin Fang who is a Lead Advisor for Austin Asset, an independent RIA.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Reformed Broker
MARCH 2, 2023
It was a lot of fun hanging with my old friend Howard Lindzon on his show this week. Listen above or wherever fine podcasts are played. The post The Past, Present and Future of Financial Media appeared first on The Reformed Broker.
Nerd's Eye View
MARCH 3, 2023
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that amid economic and market headwinds, the pace of RIA M&A activity was slower in January and February compared to the same period last year. If this trend continues, 2023 would be the first year in more than a decade to see fewer transactions than the year before, though some industry observers continue to see significant appetite for deals.
Abnormal Returns
MARCH 3, 2023
The biz There's really no distinction between podcasts and audiobooks. (hollywoodreporter.com) Podcasts are coming to YouTube Music. (techcrunch.com) Nicole Lapin is launching the Money News Network. (variety.com) Startups Patrick O'Shaughnessy talks with Doug Leone who is a long time Partner at Sequoia Capital (joincolossus.com) David Cover and Brett Beshore talk with Anu Hariharan of YCombinator about managing small businesses.
The Big Picture
MARCH 3, 2023
My end-of-week, Non-NonFarmPayroll, morning train WFH reads: • American workers aren’t returning to the office like their international counterparts—here’s why : Even as people got vaccinated and Covid restrictions eased over the years, U.S. office occupancy remains stagnant around 40% to 60% of pre-pandemic levels, Meanwhile, office attendance has returned to 70% to 90% in Europe and the Middle East, and around 80% to 110% in some Asian cities, meaning some workers are spending more time in the
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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.
Calculated Risk
MARCH 2, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Feb 25, 2023 • Active inventory growth continued to climb with for-sale homes up 67% above one year ago. Inventories of for-sale homes rose again, but climbed on par with last week’s pace, which was a slightly slower yearly pace than we saw late January and early February.
A Wealth of Common Sense
MARCH 3, 2023
The latest Case-Shiller national home price index data was released this week. Here’s where we stand in terms of the drawdown from peak prices: This is the third largest national home price drawdown since 1987 but I’m sure lots of people are surprised prices haven’t fallen more what with 7% mortgage rates and unsustainable price gains in recent years.
Abnormal Returns
MARCH 3, 2023
Markets Retail investors can't quit Tesla ($TSLA) stock. (wsj.com) Softbank is planning to IPO chip maker Arm Holdings in New York. (cnbc.com) Short-dated options are distorting market data. (ft.com) Strategy When does it make sense to take on duration in your bond portfolio? (awealthofcommonsense.com) Index funds have two major advantages. (morningstar.com) Berkshire Hathaway Evidence that Warren Buffett has become less verbose over time.
The Big Picture
MARCH 2, 2023
My morning train WFH reads: • All the recessions that didn’t happen. The future doesn’t always cooperate with the present because whatever is going to happen hasn’t happened yet. So forecasters are frequently wrong. They’ll never stop forecasting, but their recent track record should make you skeptical every time you hear somebody predicting a recession. ( Yahoo Finance ) • World’s Rich Take Advantage as $1 Trillion Property Market Craters : Wealthy investors were the most active buyers of comme
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.
Calculated Risk
FEBRUARY 28, 2023
The FDIC released the Quarterly Banking Profile for Q4 2022: Reports from 4,706 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reflect aggregate net income of $68.4 billion in fourth quarter 2022, a decrease of $3.3 billion (4.6 percent) from the third quarter. Lower noninterest income and higher provision expenses offset an increase in net interest income.
A Wealth of Common Sense
FEBRUARY 26, 2023
I write a lot about the benefits of investing in the stock market over the long-run. Anytime I share a chart or data point about these benefits invariably a handful of people will push back. What about other countries they ask. Isn’t the U.S. just survivorship bias they protest. I don’t mind people taking the other side here. That’s what makes a market.
Abnormal Returns
FEBRUARY 26, 2023
Berkshire Hathaway Some of the best nuggets from Warren Buffet's latest shareholder letter. (investmenttalk.substack.com) Warren Buffett has been badmouthing GAAP for awhile now. (tker.co) A link to the 2022 Berkshire Hathaway ($BRK.A) annual shareholder report. (berkshirehathaway.com) Warren Buffett isn't shy about admitting mistakes. (bloomberg.com) Companies Why you shouldn't fall in love with companies.
The Big Picture
FEBRUARY 25, 2023
The weekend is here! Pour yourself a mug of coffee, grab a seat by the fire, and get ready for our longer-form weekend reads: • The Inside Story of How Wellington and Vanguard Became Partners : Last year, Greenwich Associates founder Charles Ellis published “Inside Vanguard: Leadership Secrets From the Company That Continues to Rewrite the Rules of the Investing Business.
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.
Calculated Risk
MARCH 2, 2023
From CoStar: STR: Weekly US Hotel Occupancy Eclipses 64% U.S. hotel performance increased from the previous week, according to STR‘s latest data through Feb. 25. Feb. 19-25, 2023 (percentage change from comparable week in 2019*): • Occupancy: 64.2% (-1.5%) • Average daily rate (ADR): US$156.51 (+22.2%) • Revenue per available room (RevPAR): US$100.43 (+20.3%) *Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
The Irrelevant Investor
FEBRUARY 26, 2023
Today’s show is brought to you by Nasdaq: We are joined by Phil Mackintosh, Chief Economist and Senior Vice President at Nasdaq, live from the Exchange ETF Conference in Miami! On today’s show, we discuss: If the Fed cuts rates this year or not, and what that means for the market Will there be a recession this year? What’s surprised Phil about the economy in the last 24 months How the labor market is this stro.
Abnormal Returns
MARCH 1, 2023
Podcasts Peter Lazaroff talks with Robin Powell about evidence-based investing. (peterlazaroff.com) The Mad Fientist talks with Ramit Sethi author of "I Will Teach You to Be Rich." (madfientist.com) Retirement Why retirement planning is not easy - uncertainty. (awealthofcommonsense.com) Some questions you need to ask yourself about retirement. (humbledollar.com) If you love something, why wouldn't you want to do it indefinitely?
The Big Picture
MARCH 1, 2023
I did a brand new presentation last week, the first one since the pandemic lockdown began 3 years ago this month. I mentioned how much fun it was to get back on stage , but it definitely took a while to settle into a groove. Haven’t brought myself to watch the full discussion yet, but from the first 5 minutes you can see lots of excess nervous energy and pacing about the stage.
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Calculated Risk
MARCH 1, 2023
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 5.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 24, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.7 percent on a seasonally adjusted basis from one week earlier.
Norman Marks
MARCH 1, 2023
I am pleased to announce that my latest book is now available on Amazon (see below). The intent is to help business leaders and information security practitioners discuss cyber risk in business rather than technical language, enabling executives and the board to make informed and intelligent business decisions.
Abnormal Returns
MARCH 2, 2023
Markets The stock market is getting oversold. (quantifiableedges.com) Small caps are still outperforming. (wsj.com) Finance The SEC is charging an insider trading case using 10b5-1 plans. (wsj.com) Now you can bet on Jim Cramer's stock picks via these new ETFs. (advisorperspectives.com) Global A year later some companies are stuck in Russia. (nytimes.com) Russia is going to great lengths to avoid sanctions.
The Big Picture
MARCH 1, 2023
My mid-week morning train WFH reads: • The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales : At least eight businesses that went public through mergers with “blank-check” companies have sought protection from creditors. ( Businessweek ) • Why WFH Will Not Doom Cities : Academics tend to overestimate the impact of current trends on cities today.
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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.
Calculated Risk
MARCH 1, 2023
From the Census Bureau reported that overall construction spending decreased: Construction spending during January 2023 was estimated at a seasonally adjusted annual rate of $1,825.7 billion, 0.1 percent below the revised December estimate of $1,827.5 billion. The January figure is 5.7 percent above the January 2022 estimate of $1,726.6 billion. emphasis added Private spending was "virtually unchanged" and public spending decreased: Spending on private construction was at a seasonally adjusted a
Norman Marks
FEBRUARY 27, 2023
Whatever your role within the organization, the ability to listen, really hear, and understand others is crucial. The concept of active listening takes the idea further. Skills you need has an excellent article on the topic. I like what it says: Active listening involves listening with all senses.
Abnormal Returns
FEBRUARY 26, 2023
Also on the site The 2023 Credit Suisse Global Investment Returns Yearbook is here! (abnormalreturns.com) Do less to do better. (abnormalreturns.com) Top clicks this week Ben Carlson, "You don’t have to manage millions or billions of dollars to succeed as an investor." (awealthofcommonsense.com) How to generate cash flow by selling non-dividend paying shares.
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