November, 2022

Supply Chain Is 40% of Inflation

The Big Picture

. There is a new 60/40 in town, and it is the contribution to inflation from consumer demand for goods and the pandemic-broken supply chain. That is according to a study by Julian di Giovanni, who publishes at the NY Fed’s blog Liberty Street Economics.

Twitter is cigarettes

The Reformed Broker

A lot of reporters and public intellectuals were writing their obituaries for Twitter this weekend. First, we saw the revolt of the Blue Checkmarks. Then, the first inklings of an advertiser exodus.


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Friday links: old patterns

Abnormal Returns

Markets How do stocks beat inflation? The S&P 500 is not the economy. FTX Is the FTX blow up the end of crypto? Why did so many people have a blind spot for FTX?

Small Business Retirement Plans – SEP-IRA vs. Solo 401(k)

The Chicago Financial Planner

One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. As a fellow small businessperson, I know how hard you work. You deserve a comfortable retirement.

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.

#FA Success Ep 309: Leveraging Structured Notes To Differentiate A Highly-Leveraged $300M Solo Practice, With Anh Tran

Nerd's Eye View

Welcome back to the 309th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Anh Tran. Anh is the Founder and Managing Partner for SageMint Wealth, a corporate LPL-affiliated RIA based in Orange, California, that oversees nearly $325 million for 195 client households.

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Labor or Capital Driven Inflation?

The Big Picture

My views on inflation continue to evolve: I was correct in identifying inflation during the mid-2000s; during the post-crash 2010s I remained appropriately skeptical about rising prices.


The Reformed Broker

Glamour is a supernatural form of mental compulsion or influence that is specific to vampires.


Adviser links: a winning model

Abnormal Returns

Podcast Michael Kitces talks with Mindy Crary, owner of Creative Money, about making it clear about fiduciary marketing. Daniel Crosby talks with Kurt Brown, CEO and CIO, of TownSquare Capital.

3 Lessons From the Collapse of FTX (Video)

Pragmatic Capitalism

In this video we discuss the collapse of FTX and the crypto markets and what we can learn from this bear market. This video includes: 1) Understanding volatilities relative to [ …

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.

Establishing Solo 401(k) Plans For Self-Employed Workers: Options, Contribution Limits, Deadlines, And More!

Nerd's Eye View

Among the several different types of retirement plans that are available to self-employed workers, solo 401(k) plans can offer the most flexibility and the ability to contribute the highest amount of tax-advantaged savings.

Bitcoin Hits a New 52-Week Low, Where to From Here?

Mish Talk

Bitcoin daily chart courtesy of StockCharts.Com. I have been making notes, some of them incorrectly. Apologies offered. Generational Bottoms Bitcoin is Life Hoot of the Day (From May 2022). Hmm 6 months is up. On May 8, Bitcoin was $34,000. It's now under $16,000.

Which is Worse: Inflation or Unemployment?

The Big Picture

You may have missed this wonderful Josh Zumbrun column in the Wall Street Journal last week: “ Inflation and Unemployment Both Make You Miserable, but Maybe Not Equally.”. It’s one of those things that are so obvious no one ever stops to think about it – and so we have overlooked this for decades.

Recession Playbook

The Reformed Broker

Let’s assume we’re going to have a recession in 2023. I don’t know if we will, but everyone seems to think so, so let’s just say. So what. What can you do to stop it? Not much. Can you change your own spending and psych yourself up to survive it? Absolutely.

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.

Personal finance links: what other people think

Abnormal Returns

Podcasts Kenny Malone and Greg Rosalsky talk with Yale economist James Choi about his paper "Popular Personal Financial Advice Versus The Professors." Michael Klein talks with Laura Gee at Tufts University about the state of charitable giving in the U.S.

Do We Implement Portfolio Construction Completely Backwards?

Pragmatic Capitalism

I’ve had three big investing epiphanys in my investing career. The first big epiphany was that macro matters much more than micro. The direction of the river is much more [ …

Maximizing Health Savings Accounts (HSAs) Tax Benefits With Adult Children Under Age 26

Nerd's Eye View

The passage of the Affordable Care Act in 2014 introduced many changes to the healthcare landscape in the United States. One of these changes was the ability for children to remain on their parents’ health insurance plan until they reach age 26.

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Hoot of the Day: Russian Oil Gets to US Via Sanction Loophole

Mish Talk

Image composite from WSJ video below. The Wall Street Journal has an interesting video that describes How Russian Crude Avoids Sanctions and Ends Up in the US. With an upfront ad, that is a free WSJ video link. The Lukoil Connection. Image composite from WSJ video.

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.

Six Degrees of Separation

The Big Picture

I wonder how far my view of the universe is from (objective) reality. My pal Dave Nadig suggests that we are all much further away from any sort of recognition of the true universe than we suspect.

Worse Than Enron

The Reformed Broker

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Gregor Macdonald, and Downtown Josh Brown discuss the latest on the Sam Bankman-Fried saga, the inverted yield curve, electrification of the power grid, the growth of electric vehicles, peak oil, and much more!

Personal finance links: career shifts

Abnormal Returns

Career shifts Former Peloton ($PTON) CEO John Foley is getting into the rug business. UBS' Chief Risk Officer is becoming a photographer. Investing Rich people don't typically get rich on alternative investments.

Math 213

The Triffin Dilemma and Why it Matters More Than Ever (Video)

Pragmatic Capitalism

Here’s a new Three Minute Money video on the Triffin Dilemma and why it matters more than ever. The basic gist of the video is that the reserve currency issuer [ …


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.

101 Things That Advisors Actually DO To Add Value (Beyond Just Allocating A Portfolio)

Nerd's Eye View

Traditionally, investment planning has been at the forefront of how financial advisors add value for their clients.

Huge Layoffs Including Thousands at Amazon and FedEx in Peak Shipping Season

Mish Talk

Amazon Layoffs Amazon Set to Lay Off Thousands of Corporate Workers The layoffs come as Amazon is undertaking a broad review of costs, The Wall Street Journal reported last week. That review has focused on the devices unit, which the Journal reported has lost $5 billion annually in some recent years.

The Many Ways the FOMC Can Be Wrong…

The Big Picture

Since it is late on a Friday, I thought I might share some quick thoughts about the week. I have been wondering, more than usual, about the disconnect between what we see in falling prices and the Federal Reserve’s anti-inflation actions.

This Week On TRB

The Reformed Broker

Just wanted to start by saying thanks to everyone who made a donation to our Long Island Cares food drive for Thanksgiving. The money really goes a long way, we’re going to be making a big difference in the lives of people who need help this holiday season.

Food 236

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.

Sunday links: the tech retrenchment

Abnormal Returns

Strategy Rising interest rates reset a whole host of financial questions. Why fraud seems more prevalent these days. Companies Disney ($DIS) had more than just a CEO problem. Shopping on Amazon ($AMZN) continues to get worse. T.

Three Things I Think I Think – Is This The Bottom?

Pragmatic Capitalism

1) Is the bond bottom finally in? I’ve been surprised by how fast the Fed moved this year. And while I’ve been pretty negative about virtually all asset classes all [ …

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101 Ways Advisors Can Add Value And Attract Their Ideal Clients

Nerd's Eye View

Traditionally, investment planning has been at the forefront of how financial advisors add value for their clients.