Sat.Jan 07, 2023 - Fri.Jan 13, 2023

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What Makes Financial Advisors Happier: More Time Or More Money?

Nerd's Eye View

While it may be easy to assume that having more money would make a person happier by opening consumption opportunities unavailable to those with less income, experienced advisors can likely identify many examples of high-income individuals who are unhappy with their lives. To provide a more holistic view, researchers have sought to assess whether increased income leads to greater happiness on two dimensions: emotional wellbeing (how an individual feels today) and evaluative wellbeing (how an ind

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MiB: John Mack, Morgan Stanley CEO

The Big Picture

This week, we speak with the legendary John Mack, former chief executive officer and chairman of the board at Morgan Stanley. He recently published a memoir of his life and 34-year tenure at Morgan Stanley, “ Up Close and All In: Life Lessons from a Wall Street Warrior.”. We discuss how he ended up on Wall Street because he needed a job when an injury ended his college football career and scholarship.

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This Week on TRB

The Reformed Broker

Happy New Year everyone! Great to be back in the saddle this week, working with our new president as we prepare for 2023 and beyond. We’ve got lots of projects and initiatives underway at Ritholtz Wealth, some of which you’ll be hearing about from me very soon. This week we went back to our regularly scheduled programming, with fresh episodes of all your favorite shows – What Are Your Thoughts, Animal Sp.

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Personal finance links: finding a new plan

Abnormal Returns

Podcasts Christine Benz and Jeff Ptak talk with Mark Miller, author of "Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track." (the-long-view.simplecast.com) A discussion about when it is time to adjust your retirement plans. (mullooly.net) Banking High yield bank savings accounts are now actually high yield. (awealthofcommonsense.com) The BNPL bubble is set to burst.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.

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Kitces & Carl Ep 103: Balancing Client Responsiveness With The Proactive Sledgehammer Of Value

Nerd's Eye View

As comprehensive financial planning has become more widely adopted, many financial advisors have felt pressure to find new ways to differentiate themselves by demonstrating their unique value to clients. And while providing fee-only advice or highlighting service as a fiduciary may have once been a fair differentiator, these services are now often considered table stakes, necessitating financial advisors to find more creative solutions that show current and prospective clients that they provide

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More Trending

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We Just Might Pull This Off

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Callie Cox, and Downtown Josh Brown discuss discuss the latest CPI data, why Michael’s feeling a little bullish, calling the Fed’s bluff, chances of a soft landing, retail investor sentiment, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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Wednesday links: a trading vehicle

Abnormal Returns

Markets How does the 60/40 portfolio perform after big down years? (awealthofcommonsense.com) GMO loves deep value stocks. (ft.com) FTX Bankruptcy courts were not built to unwind crypto messes like FTX. (economist.com) Alameda Research made a big investment in miner Genesis Digital Assets soon before the FTX unwind. (wsj.com) BITO Bitcoin tanked in 2022 but Bitcoin futures ETPs held in there.

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Weekend Reading For Financial Planners (Jan 14-15)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the Federal Trade Commission has proposed a nationwide ban on noncompete clauses in employee contracts, aiming to give employees more freedom to change jobs within the same industry. In the advisor world, where noncompete agreements are fairly common, a ban on the practice could incentivize firms to reassess their employee value proposition and to conside

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10 Weekend Reads

The Big Picture

The weekend is here! Pour yourself a mug of Tolima Los Brasiles Peaberry coffee, grab a seat outside, and get ready for our longer-form weekend reads: • How Not to Play the Game : Magic beans, Bahamian penthouses, old-fashioned fraud and other important SBF-inspired insights. A postscript to Bloomberg Businessweek’s The Crypto Story. ( Businessweek ). • 99 Good News Stories You Probably Didn’t Hear About in 2022 : The world didn’t fall apart this year.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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Clips From Today’s Closing Bell

The Reformed Broker

After December’s trash fire, markets are optimistic, says Ritholtz’s Josh Brown from CNBC. The post Clips From Today’s Closing Bell appeared first on The Reformed Broker.

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Monday links: the case for a soft landing

Abnormal Returns

Markets There's no sign that options trading is slowing down. (wsj.com) The 10-year Treasury rates peaked back in the Fall. (axios.com) Finance Private equity managers are abusing their discretion when it comes to valuations. (institutionalinvestor.com) Goldman Sachs ($GS) is laying off thousands of workers this week. (thinkadvisor.com) Black founders in the U.S. raised about 1% of 2022 venture capital funding.

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Ask Me Anything (Comments Open!)

Pragmatic Capitalism

We are going to do a new 3 Minute Macro “Ask Me Anything” edition. It should be out next week or so.

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10 Wednesday AM Reads

The Big Picture

My mid-week morning train WFH reads: • The Fed May Finally Be Winning the War on Inflation. But at What Cost? There’s a good chance that the Fed could push the economy into recession. The pain will not be shared equally. ( New York Times ). • Something big is happening in the U.S. housing market—here’s where 27 leading research firms think it’ll take home prices in 2023.

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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

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.

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Providing Mortgage Advice In A Higher Interest-Rate Environment: Opportunities For Advisors To Add Value

Nerd's Eye View

Leading up to 2022, financial advisors and their clients had grown accustomed to a relatively low mortgage rate environment. In fact, until earlier this year, the average 30-year fixed mortgage rate had stayed below 5% since 2010 (and below 7% since 2001). But as the Federal Reserve has sought to raise interest rates this year to combat inflation, mortgage rates have reached higher levels not seen in more than 20 years, with 30-year fixed mortgages reaching an average of 6.9% in October 2022, tw

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Tuesday links: the AI genie

Abnormal Returns

Markets What role do interest rates have in stock prices? (ofdollarsanddata.com) Why the golden age of biotech stocks may be over. (statnews.com) Crypto Coinbase ($COIN) is laying off 20% of its workforce. (cnbc.com) Why so many are focused on the big discount on the Grayscale Bitcoin Trust ($GBTC). (blockworks.co) Could another firm actually take over management of GBTC?

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Three Things I Think I Think – Silly Debates

Pragmatic Capitalism

Here are some things I think I am thinking about: 1) The 3 Most Important Charts Today We posted a new 3 Minute Macro video about the three most important [ … ]

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1994 Porsche 911 Turbo S 3.6

The Big Picture

This is about as nice of an example of a vintage 1990s-era 911 Turbo as you will find — but let’s get this out of the way up front: It sold last month for an eye-popping $1,265,000. That is quite an increase from the 1994 dealer selling price of $126,360. Why does a 30-year-old Porsche command 7 figures? As best as I can tell, the combination of rarity, conditions, ultra-low miles, and options made this a bit of a one-off for collectors.

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

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.

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Cleveland Fed: Median CPI increased 0.4% and Trimmed-mean CPI increased 0.4% in November

Calculated Risk

The Cleveland Fed released the median CPI and the trimmed-mean CPI: According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.4% in December. The 16% trimmed-mean Consumer Price Index increased 0.4% in December. "The median CPI and 16% trimmed-mean CPI are measures of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics’ (BLS) monthly CPI report".

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Top clicks this week on Abnormal Returns

Abnormal Returns

Also on the site Dropping habits that don't serve you is just as important as adopting new habits. (abnormalreturns.com) Top clicks this week 15 charts that explain 2022 returns. (morningstar.com) Average annual stock market returns are not-so average. (awealthofcommonsense.com) How to talk to adult children about inheritances. (kindnessfp.com) Five ETF predictions for 2023 including an end to $SPY's reign.

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Updating My Favorite Performance Chart For 2022

A Wealth of Common Sense

We have a handful of traditions in my family. We watch the Lions lose every year on Thanksgiving. We wear Hawaiian shirts at holiday dinners (try it…it’s fun). We get Chinese takeout for lunch every year on Christmas day. And we update my asset allocation quilt once a year when the calendar turns (OK that’s just me). Let’s do this.

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10 Monday AM Reads

The Big Picture

My back-to-work morning train WFH reads: • Economist Says His Indicator That Predicted Eight US Recessions Is Wrong This Year : Cambell Harvey’s work showed link between curve inversion and growth Strong labor demand, risk avoidance support US economy now. ( Bloomberg ). • Wall Street’s sleuth of bears is growing : Stocks kicked off the new year on a positive note, with the S&P 500 climbing 1.4% last week.

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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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Weekly Initial Unemployment Claims decrease to 205,000

Calculated Risk

The DOL reported : In the week ending January 7, the advance figure for seasonally adjusted initial claims was 205,000, a decrease of 1,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 204,000 to 206,000. The 4-week moving average was 212,500, a decrease of 1,750 from the previous week's revised average.

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Friday links: the coming debt ceiling debacle

Abnormal Returns

Markets What has happened since the U.S. dollar topped out. (allstarcharts.com) Credit spreads are off their 2022 highs. (allstarcharts.com) Dividends The return from stock dividends compound over time. (awealthofcommonsense.com) Investing solely based on dividend yields is a mug's game. (humbledollar.com) Companies Apple's ($AAPL) CEO Tim Cook is taking a pay cut.

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How Do Stocks & Bonds Perform Following Big Down Years?

A Wealth of Common Sense

It’s now well-documented that 2022 is one of the worst years in history for financial markets. Last year was one of the worst years ever for stocks and the worst year ever for bonds. The logical next step is to look at what has happened next following the prior worst years for stocks, bonds and diversified portfolios. Past performance tells us nothing about future performance but studying market history can provide.

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Transcript: John Mack

The Big Picture

. The transcript from this week’s, MiB: John Mack, Morgan Stanley CEO , is below. You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~. XXXXX. ~~~. The post Transcript: John Mack appeared first on The Big Picture.

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Transforming Lending: Understanding the Power of Digital Platforms

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.

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Second Home Market: South Lake Tahoe in December

Calculated Risk

With the pandemic, there was a surge in 2nd home buying. I'm looking at data for some second home markets - and I'm tracking those markets to see if there is an impact from lending changes, rising mortgage rates or the easing of the pandemic. This graph is for South Lake Tahoe since 2004 through December 2022, and shows inventory (blue), and the year-over-year (YoY) change in the median price (12-month average).

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Podcast links: the science of happiness

Abnormal Returns

The biz We are at the beginning of the AI-read audiobook wave. (arstechnica.com) AI narrators are better than you think. (slate.com) Text-to-speech is becoming incredibly simple. (arstechnica.com) A Random Walk Down Wall Street Peter Lazaroff talks with Burton Malkiel about the newly released 50th-anniversary edition of "A Random Walk Down Wall Street.

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Talk Your Book: What Makes an Index Fund Work

The Irrelevant Investor

On today’s show, we are joined by Rodney Comegys, Head of Vanguards Equity Investment Group to discuss index fund investing with Vanguard. See here for more information and research on investing with Vanguard On today’s show, we discuss: Rodney’s background What it’s like to work at Vanguard The back-office work involved in low-cost indexing Debunking misconceptions about indexing Price discovery and.

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