July, 2024

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Why Hasn’t the California Globe Retracted Its Story?

The Big Picture

@TBPInvictus here If you’re tired of California-minimum-wage-and-its-impact-on-limited-service-restaurant-employment stories, I understand. Leave this page immediately. I’m tired of it, too, but some stories are so factually challenged that they demand a response. So, allow me to address a hot mess of a story that appeared recently in the California Globe.

Food 338
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Top clicks this week on Abnormal Returns

Abnormal Returns

Top clicks this week How the rise of automated investing has changed the stock market. (awealthofcommonsense.com) Why Bill Ackman spends so much time on Twitter. (sherwood.news) The CAPM doesn't work. Maybe this measure does. (klementoninvesting.substack.com) Why young men around the world are breaking hard to the right. (politico.com) Today's constructive CPI report rang a bell for financial markets.

Economy 303
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Planning For Changes In Client Marginal Tax Rates After TCJA’s Sunset

Nerd's Eye View

The Tax Cuts and Jobs Act (TCJA), passed in 2017, was one of the most extensive pieces of tax legislation to be passed in the last 30 years, touching many aspects of individual, corporate, and estate tax. However, most of TCJA's provisions are set to 'sunset' at the end of 2025 – an event that would have at least as much impact as TCJA's initial passage.

Taxes 240
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The Biggest Winners in the Stock Market

A Wealth of Common Sense

Hendrik Bessimbinder has produced some of my favorite stock market research. Bessimbinder discovered that four out of every seven stocks in the U.S. have underperformed cash (one-month T-bills) since 1926. And just 4% of companies accounted for all the wealth gains for the entire stock market in that time. The stock market runs on power laws over the long run.

Marketing 131
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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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8 Financial Planning Tips for Small Business Owners

Carson Wealth

Running a small business involves juggling multiple responsibilities. Managing the business’s finances is one of the most crucial aspects. Proper financial management can be the difference between a thriving business and one that struggles to stay afloat. Here are eight essential financial tips for small business owners to help ensure long-term success. 1.

More Trending

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‘50 Shades of Beige’: Meet Britain’s New Prime Minister

The Big Picture

Source: New York Times The NYT: The final votes in Britain’s parliamentary elections are still being counted, but one thing is crystal clear: After 14 years in power, the Conservative Party is out. More than that: It’s been thoroughly punished by the British public, reduced to barely 120 seats, the party’s worst result in its history. Several prominent figures — including former Prime Minister Liz Truss — lost their seats.

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Top clicks this week on Abnormal Returns

Abnormal Returns

Top clicks this week How major asset classes performed in June 2024. (capitalspectator.com) Just how useful is historical financial markets data? (retirementresearcher.com) Don't forget, stocks are real assets. (downtownjoshbrown.com) Europe's stock market has badly lagged the U.S. How much longer can it last? (awealthofcommonsense.com) Beware small sample sizes.

Insurance 305
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Global IT Outage Affecting Microsoft Systems Hits Wealth Management

Wealth Management

The outage began early Friday morning with a software update from the cybersecurity provider Crowdstrike as the likely culprit. Schwab posted on its website a message warning users of potential issues.

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A Balanced Portfolio Always Comes with Regrets

A Wealth of Common Sense

Here’s a scenario I was presented with recently: Five years ago, a relatively conservative investor was sitting on some cash and seeking a more balanced portfolio. To keep things simple, this investor split the difference between stocks and bonds by allocating 50% to equities and 50% to fixed income. Five years later there is a clear winner in terms of performance within this 50/50 portfolio: You basically doubled.

Portfolio 121
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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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Amex Says It’s Going on Marketing Spree as Billings Growth Slows

Advisor Perspectives

American Express Co. warned it’s planning to increase spending on marketing in the coming months after billings growth on the payments giant’s credit cards slowed in the second quarter.

Marketing 105
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An Early Look at 2025 Cost-Of-Living Adjustments and Maximum Contribution Base

Calculated Risk

The BLS reported yesterday: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.3 percent over the last 12 months to an index level of 308.163 (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).

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The Impact of Amortizing Volatility across Private Investments

Alpha Architect

The amortization of volatility should be of concern for private capital asset classes. In order to properly budget for beta risks, it is critical that investors in private assets understand the amount of systemic (beta) risk that will “wash” into their private portfolios. The Impact of Amortizing Volatility across Private Investments was originally published at Alpha Architect.

Investing 104
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Tuesday links: a major driver

Abnormal Returns

Rates Widening deficits don't seem to be putting a crimp on Treasury funding. (wsj.com) What an inverted yield curve (still) says about the odds of a recession. (econbrowser.com) Real estate Striking out on your own these days is expensive. (housingwire.com) Evictions are on the rise in a lot of localities. (wsj.com) Economy National homebuilder confidence is soft.

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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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ACA Survey: Most Advisory Firms Have No Plans To Use AI Tools

Wealth Management

Some 64% of advisory firms have no plans to develop or use client-facing artificial intelligence, yet 46% said it was a chief compliance concern, according to the ACA Group's latest survey.

Planning 122
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Why Don’t We Build More Housing?

A Wealth of Common Sense

I’ve been writing about the housing market for years now. It fascinates me to no end because housing is one of the most important decisions from a personal and financial perspective. In recent years, much of my focus has been on how broken the residential housing market is. Higher prices and mortgage rates have driven housing affordability to levels we’ve never seen before in the United States.

Marketing 118
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Producer Price Index: Wholesale Inflation Unexpectedly Rises in June

Advisor Perspectives

Wholesale inflation unexpectedly rose last month. The producer price index for final demand increased 0.2% month-over-month (s.a.). On an annual basis, headline PPI accelerated from 2.4% in May to 2.6% in June.

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MBA: Mortgage Applications Decreased in Weekly Survey

Calculated Risk

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications decreased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 5, 2024. Last week’s results included an adjustment for the July 4th holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.2 percent on a seasonally adjusted basis from one week earlier.

Marketing 124
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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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Polluters Provide Higher Returns than Non-Polluters

Alpha Architect

Atilgan, Demirtas, and Gunaydin found that there has been a pollution premium for US stocks and that the premium translated into superior investment performance. Polluters Provide Higher Returns than Non-Polluters was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

Investing 107
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Saturday links: a complicated rule

Abnormal Returns

Autos How 'electric trees' could allow for charging on city streets. (thecooldown.com) Where an EV saves you money, by state. (axios.com) Why choose a self-driving taxi? (fastcompany.com) Energy Clean energy is being transported over even longer distances. (wsj.com) What's the ideal temperature to set your AC? (vox.com) Solar panels need regular maintenance.

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10 Investment Must Reads for This Week

Wealth Management

BlackRock’s plans to leverage its recent acquisition of Preqin to build private market ETFs have drawn skeptics, reports the Financial Times. Fortune profiled nine executives in the burgeoning private credit arena. These are among the investment must reads we found this week for wealth advisors.

Investing 120
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How Many Millionaires Are There?

A Wealth of Common Sense

There aren’t all that many millionaires in the world. People with wealth in excess of $1 million make up just 1.5% of the world’s population. Yet this group controls nearly half of the world’s wealth (around $214 trillion in total). There are even fewer billionaires — a little less than 2,700 worldwide or a number that rounds down to 0% of the global population.

Numbers 109
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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

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CB Leading Economic Index: Continued to Trend Down in June

Advisor Perspectives

The Conference Board Leading Economic Index (LEI) decreased in June to its lowest level since April 2020. The index fell 0.2% from the previous month to 101.1, its smallest monthly decline in the past four months.

Economics 105
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Asking Rents Mostly Unchanged Year-over-year

Calculated Risk

Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Tracking rents is important for understanding the dynamics of the housing market. For example, the sharp increase in rents helped me deduce that there was a surge in household formation in 2021 (See from September 2021: Household Formation Drives Housing Demand ).

Marketing 126
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How to start guest blogging

Sara Grillo

Question from a subscriber: “ I want to start writing articles as a guest blogger to attract new clients. How do I get started?” Guest blogging is when you write a blog on a one-time or periodic basis for a publication as a way to get known as an expert in a particular subject. You do this as a non-staff writer, or guest writer. Although you usually are not paid for guest blogging, you get exposure to the periodical’s audience – often in the tens of thousands.

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Research links: a costly technology

Abnormal Returns

Managed futures Why managed futures stand out among hedge fund strategies. (mrzepczynski.blogspot.com) Comparing the correlation benefits of managed futures vs. market-neutral multi-factor investing. (insights.finominal.com) Michael and Ben talk with Eric Crittenden of Standpoint Funds. (awealthofcommonsense.com) Research What role do commodities play in a portfolio?

Valuation 253
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Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

Speaker: Lynnette Khalfani-Cox, The Money Coach®

Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?

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How to Check the ROI of Academic Programs

Wealth Management

On the Foundation for Research on Equal Opportunity website, advisors and clients can search for the ROI of individual programs offered by private and state colleges and universities.

Clients 126
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The Stock Market Never Changes

A Wealth of Common Sense

Charley Ellis wrote a great book about the index fund revolution back in 2016. One of my favorite parts of the book is where Ellis looks at how Wall Street has changed in the past 50 years: MBAs were uncommon. PhDs were never seen. Commissions still averaged 40 cents a share. All trading was paper based. Messengers with huge black boxes on wheels, filled with stock and bond certificates, scurried from broker to broker tr.

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Is a Relationship Required Pre-Sale?

Advisor Perspectives

In short, your prospect isn’t looking for a relationship, they’re looking for someone to solve their problem. As a result, trying to build a relationship pre-sale invites the two-pronged consequence of having them doubt your motives and then reject your plan.

Sales 105