Sat.Oct 15, 2022 - Fri.Oct 21, 2022

Collapse in Prospective Home Buyer Traffic

The Big Picture

At the beginning of each quarter, I prepare a short but in-depth conference call for RWM clients. The team & I put together the most revealing and informative slides. In that half hour, I blow through ~40 slides that capture and explain what is going on.

This Week on TRB

The Reformed Broker

Hey guys, didn’t get a chance to do any writing this week but we did two really good shows on the YouTube / podcast front I wanted to make sure you don’t miss… And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. .

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Research links: cutting drawdowns

Abnormal Returns

Research Are index funds to blame for the lack of investment in oil and gas production? ft.com) On the relationship between asset growth and lottery stock status. alphaarchitect.com) The problem with growth: persistence is fleeting.

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The 9 ‘Best’ Financial Advisor Conferences (For Scaling Up) In 2023

Nerd's Eye View

Best Practices to Ace Your Close

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Whether you’re on a 1-day close or a 10-day close, there are some fundamental commonalities that all strong accounting departments share when it comes to the month-end close. Please join us for an informative webinar where we share best practices that your team can implement today to ace your close.

AI Steve Jobs interviewed by AI Joe Rogan

The Big Picture

This is pretty mind-blowing: a podcast that is entirely generated by artificial intelligence where Joe Rogan interviews Steve Jobs. One of the most important women in Apple’s history never worked for Apple Margot Comstock took her winnings from a TV game show and bought a computer.

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More Trending

Friday links: generative AI

Abnormal Returns

Finance Per AngelList, the Q3 drop in venture activity was substantial. angellist.com) Questions keep getting raised about TikTok's data practices. forbes.com) Fidelity is not abandoning crypto. bloomberg.com) InstaCart has paused its IPO. axios.com) Global Why isn't Japan raising rates?

Kitces & Carl Ep 97: Talking Clients Down From Making Politically Motivated Portfolio Changes

Nerd's Eye View

In recent years, politically charged topics have become the forefront of news and media, and with the rise of access to digitally distributed media, it has become commonplace for clients to have concerns about the possible impact of political events on their portfolios.

What’s Ailing Tesla’s Stock?

The Big Picture

US equity markets are off about 25% YTD; Tech-heavy Nasdaq is off 32%; But the poster child for the past few years has been Tesla (TSLA), which is down 38.5% YTD and is 46.9% off of its 2021 highs.

Redfin Reports Existing Home Sales Decline 25 Percent From a Year Ago

Mish Talk

Housing Market Standstill That's not a standstill. It's a collapse. So is this. 60,000 Deals Called Off About 60,000 deals were called off, equal to 17% of homes that went under contract—the highest share on record aside from March 2020.

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Global Hiring Guide for Startups

Grow your startup beyond borders and boundaries. In this eBook, you’ll discover how you can gain a competitive edge over your business rivals through the latest technology, harnessing global contractors, and using a global employment platform.

Thursday links: community not just creators

Abnormal Returns

Strategy Diversifiers don't always work. rogersplanning.blogspot.com) Another example of why running money is difficult. ft.com) Crypto The vast majority of El Salvador thinks its Bitcoin experiment was a mistake. barrons.com) IPOs Aside from Airbnb ($ABNB), gig economy stocks have been a disaster.

Weekend Reading For Financial Planners (Oct 22-23)

Nerd's Eye View

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that Congress appears poised to pass a series of changes affecting retirement planning, dubbed “SECURE ACT 2.0”, ”, by the end of the year.

Global Real Estate Bubble Index

The Big Picture

Which cities have the greatest housing bubble risk? That is the basis of this very interesting graphic from UBS. The full PDF is well worth your time to peruse through – you can find it here: UBS Global Real Estate Bubble Index. Source : UBS Global Real Estate Bubble Index 2022.

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Renters Surpass Homeowners in 41% of Zip Codes in the 50 Largest U.S. Cities

Mish Talk

Table courtesy of RentCafe. RentCafe reports 101 Zip Codes Switch From Homeowner to Renter Majority A diverse set of 23 large and mid-sized cities transitioned from owner- to renter-majority between 2010 and 2020. Renting is at the highest level in half a century, with 43.7

Redefining Wealth: Money Management, FinTech, Inclusion, and Belonging

Speaker: Marguerita Cheng - Chief Executive Officer at Blue Ocean Global Wealth

Join Marguerita Cheng for an engaging conversation on rethinking the concept of wealth and how everyone can benefit from professional money management.

Longform links: concentrated bets

Abnormal Returns

Business Why Mark Cuban teamed up with Alex Oshmyansky to try to disrupt the pharmaceutical industry. dmagazine.com) Apartment property management companies are increasingly using YieldStar software to set rents. propublica.org) How TikTok came to rule the Internet. wapo.st) How the TMZ model works.

No Capitulation Necessary

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Dan Greenhaus, and Downtown Josh Brown discuss what constitutes a recession, the Fed, ramifications of a strong dollar, Tesla’s earnings call, buybacks, the importance of interest rates, and more!

Sussing Out Probabilities

The Big Picture

Why are markets rallying and/or falling every other day? They make gains only to give them back, or they sell off hard only to subsequently regain the losses. I suspect it is because the dispersion of likely future outcomes is so unusually wide.

Existing Home Sales Decline 8th Consecutive Month, Down 1.5% Says NAR

Mish Talk

Existing home sales data via St. Louis Fed. The National Association of Realtors ® (NAR) reports Existing-Home Sales Slipped 1.5 Percent in September Key Points Existing-home sales sagged for the eighth consecutive month to a seasonally adjusted annual rate of 4.71 million. Sales slipped 1.5%

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Top 7 Global Employment Challenges

Global expansion brings many opportunities for companies. However, there are pitfalls along the way that can slow down progress. In this eBook, we look at the 7 key challenges to global growth, and ways to minimize expansion headaches.

Sunday links: greed and ambition

Abnormal Returns

60/40 portfolios The 60/40 portfolio is having its worse returns in a century. marketwatch.com) Why investors should pay more attention the 40 in a 60/40 portfolio. rogersplanning.blogspot.com) Strategy How market bottoms are made.

Clips From Today’s Halftime Report

The Reformed Broker

Barclays says buy restaurant stocks here from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker

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MiB: Tom Rampulla, Vanguard’s Financial Advisor Services Director

The Big Picture

This week, we speak with Thomas Rampulla, managing director of Vanguard’s Financial Advisor Services. The division provides investments, services, education and research to more than 1,000 financial advisory firms representing more than $3 trillion in assets.

GDPNow Creator Pat Higgins On the October Surge in the GDP Forecast

Mish Talk

GDPNow data from the Atlanta Fed, chart by Mish. The lead chart is from my October 14 post GDPNow Forecast Unfazed by Weak Retail Sales and Strong Inflation Weak retail sales did not cause a dip in the forecast. I asked Pat Higgins if he could shed any more light on that early October surge.

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Global Hiring Guide: Top Emerging Fintech Hubs

The fintech industry is growing exponentially. Companies can find the talent they need in top emerging fintech hubs around the world. Highly skilled global candidates are available to hire — companies just need to know where to look for them.

Top clicks this week on Abnormal Returns

Abnormal Returns

Top clicks this week How millionaires invest. alphaarchitect.com) The all-weather portfolio has not fared well in 2022. blog.validea.com) Jason Zweig, "Try to watch a tree growing, and you see nothing; yet it is growing all the same.

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Clips From Today’s Closing Bell

The Reformed Broker

IBM beats on earnings and revenue, hikes full-year revenue outlook from CNBC. The post Clips From Today’s Closing Bell appeared first on The Reformed Broker

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10 Friday AM Reads

The Big Picture

My end-of-week morning train WFH reads: • Coming Soon on Netflix: A New Netflix. Netflix changed the entertainment industry forever. Can the company change itself now that it finally faces some real streaming competition? Businessweek ).

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Real Year-Over-Year Wages Decline for 18 Consecutive Months

Mish Talk

Real wages, data from BLS, calculations by Mish. The BLS Real Earnings Report for September shows another monthly decline in real wages. Real average hourly earnings for all employees decreased 0.1 percent from August to September, seasonally adjusted, the U.S.

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The HR Compliance Playbook: How to Improve Speed-to-Hire

Every global growth to-do list should begin with compliance. Navigating international jurisdictions can be complex and time-consuming, but with solid, up-to-date compliance procedures, companies can maximize efficiency, speed-to-hire, and mitigate risks.

Personal finance links: possibilities vs. goals

Abnormal Returns

Investing A bear market provides different opportunities for different generations. awealthofcommonsense.com) Why now is a great time to get started investing. dariusforoux.com) College More states are requiring high school seniors to complete the FASFA application.

How To Register Your RIA: State Vs SEC Registration And When Notice Filing Is Required

Nerd's Eye View

In the United States, Registered Investment Advisers (RIAs) are required to register in one of 2 ways: with the Federal government (namely the SEC) or with one or more state securities regulatory agencies.

2023 Mercedes EQE Electric SUV

The Big Picture

Earlier this week I asked What’s Ailing Tesla’s Stock? The usual answers — Elon Musk’s distraction(s), and the company’s high valuation – are certainly fair reasons, but I suspect the biggest challenge is competition from legacy car makers. The latest comes from Mercedes-Benz: The EQE.