The Big Picture

OCTOBER 7, 2024

@TBPInvictus here: If you’re not aware of the brouhaha that was stirred about a year or so ago when CA Gov Gavin Newsom signed into law (taking effect April 1, 2024) a new $20 minimum wage for so-called “limited service” (a/k/a fast food or QSR) restaurant workers, read up here , here , or here. In a nutshell, the usual suspects’ heads exploded well before the legislation even took effect, claiming it would lead to widespread devastation in the fast food space: job losses

Food 284

Food Media Economics Numbers 284

Abnormal Returns

OCTOBER 14, 2024

Podcasts Daniel Crosby talks with Michael Finke about how to deal with market volatility in retirement. (standarddeviationspod.com) Brendan Frazier talks with Kathi Balasek about communicating with grieving clients. (podcasts.apple.com) Eric Golden talks with Robbie Cannon is the founder of Horizon Investments about the blurring of lines between asset and wealth management.

Estate Planning 267

Estate Planning Financial Planner Wealth Management Retirement 267

A Wealth of Common Sense

OCTOBER 15, 2024

The Great Financial Crisis decimated the balance sheets of most Americans. How could it not? Housing prices were down by nearly 30%. The stock market crashed almost 60%. The unemployment rate hit double-digits. It was the worst economic period most of us have ever lived through. The collective net worth of American households reached roughly $66 trillion by the end of 2007.

Economics 141

Economics Marketing Marketing 141

Fortune Financial

OCTOBER 14, 2024

It has been my experience when reviewing portfolios that diversification is typically expressed simply as a number of various stocks owned, or owning a handful of asset classes, usually stocks of various sizes and geographies, and bonds of varying maturities. While such a simple asset allocation may work for many investors, it is my view that too little thought is given to other diversification tools that may enhance a portfolio by addressing some vulnerabilities that can result when a portfoli

Asset Allocation 131

Asset Allocation Government Financial Advisor Portfolio 131

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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

Planning

Calculated Risk

OCTOBER 16, 2024

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 17.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 11, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 17.0 percent on a seasonally adjusted basis from one week earlier.

Government 127

Government Marketing Marketing 127

Wealth Management

OCTOBER 17, 2024

John Hardin will join the UBS in Miami with Integra Partners, a private wealth team with more than $7 billion AUM. Senior Wealth Strategy Associate Katelyn O’Hara will join him.

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Abnormal Returns

OCTOBER 17, 2024

Autonomous driving Austin Vernon, "Humans being awful drivers leads to a massive increase in vehicle costs and weight, makes cars more dangerous to people outside of them, and imposes significant costs on infrastructure like roads." (austinvernon.site) What's it going to take to reach full autonomous driving? (stratechery.com) Defense Europe isn't prepared to defend itself absent the U.S.

Communication 251

Communication Budgeting 251

A Wealth of Common Sense

OCTOBER 8, 2024

Each year the Bureau of Labor Statistics (BLS) updates consumer expenditure data on how Americans collectively spend and earn their money. These numbers are averages so your personal household budget probably looks different in some ways. Your circumstances — where you live, your standard of living, how much you make, family situation, etc. — often dictate how you spend.

Budgeting 138

Budgeting Numbers 138

Trade Brains

OCTOBER 17, 2024

Palm oil, the world’s most widely consumed vegetable oil, is facing a complex web of challenges and changes. This article explores the current state of the industry, its major players, and the factors shaping its future. Global Production and Market Dynamics Palm oil is a crucial commodity in the global market. Indonesia and Malaysia are the top producers, dominating the industry.

Economics 111

Economics Marketing Marketing Taxes 111

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

Sales

Calculated Risk

OCTOBER 10, 2024

Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up around 8% year-over-year. This declined and is now up 4.4% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through September 2024. Services were up 4.7% YoY as of September 2024, down from 4.8% YoY in August.

Food 129

Food 129

Advisor Perspectives

OCTOBER 1, 2024

Expanding outreach to include a well-orchestrated digital lead generation strategy is the most effective and efficient way to grow a client roster and help new generations navigate the Great Wealth Transfer with optimal financial strategies.

Clients 122

Clients 122

Wealth Management

OCTOBER 7, 2024

The Cambria Tax Aware ETF and the Stance Sustainable Beta ETF will each be seeded with the appreciated securities of wealthy investors, who will swap their assets for shares in the funds rather than buy into them with cash.

Taxes 111

Taxes Assets 111

Abnormal Returns

OCTOBER 14, 2024

Markets Checking in on the bull market, two years in. (optimisticallie.com) It's hard to find a losing asset class this year. (capitalspectator.com) olatility An explanation for why the VIX is seemingly elevated. (sherwood.news) In contrast, the MOVE index ain't doing much. (mrzepczynski.blogspot.com) Strategy Five lessons from five great investing books.

Financial Advising 256

Financial Advising Economy Assets Insurance 256

Speaker: Igli Laci, Strategic Finance Leader

In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a

Numbers

A Wealth of Common Sense

OCTOBER 13, 2024

Through the end of September, the S&P 500 was up more than 36% in the prior 12 months. That’s a good return. In fact, it’s good enough to put it in the top 10% of one year returns going all the way back to 1926. The stock market is on a heater. Here’s one way to look at how wonderful things have been of late: I calculated the annualized returns over various time frames going way way back.

Marketing 133

Marketing Marketing 133

Trade Brains

OCTOBER 13, 2024

The Securities and Exchange Board of India (SEBI) has given the green light to Jio Financial Services and BlackRock’s joint venture. This strategic partnership brings together Jio’s massive customer base of 450 million users and BlackRock’s global investment expertise, managing over $10 trillion in assets. The joint venture aims to make investing easier for Indian customers.

Financial Services 105

Financial Services Planning Insurance Investing 105

Calculated Risk

OCTOBER 9, 2024

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 5.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 4, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.1 percent on a seasonally adjusted basis from one week earlier.

Government 127

Government Economics Marketing Marketing 127

Advisor Perspectives

OCTOBER 17, 2024

Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process.

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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.

Banking

Wealth Management

OCTOBER 3, 2024

Covenant Capital founder Nate Harris explains why he left Merrill and opted for the independent broker/dealer model, which he felt would allow him to achieve all he desired and then some.

Financial Advisor 116

Financial Advisor 116

Abnormal Returns

OCTOBER 15, 2024

Retail Just how profitable is to trade against retail order flow? (papers.ssrn.com) Zero commissions could obscure the true costs of trading. (papers.ssrn.com) Quant stuff How XTX Markets have generated huge profits using cutting edge quant models. (on.ft.com) A look at the companies behind the scenes setting odds at online sports books. (bloomberg.com) Jane Street interns make good coin.

Commission 253

Commission Retail Marketing Marketing 253

A Wealth of Common Sense

OCTOBER 10, 2024

Nick Maggiulli joined me on the show this week to tackle questions about investing in total stock market index funds, how to value your pension, factors that allow you to take more risk in your portfolio and when to sell your big winners. Further Reading: An Epic Bull Market 1It’s worth noting these are price returns only, no dividends included.

Marketing 125

Marketing Marketing Portfolio Investing 125

Trade Brains

OCTOBER 14, 2024

For the past 2 to 3 years, Chemical stocks have faced challenges due to China’s overcapacity. Investors see opportunities as global supply chains shift and demand for specialty chemicals grows. Commodity chemicals can not provide an edge over China’s supply but specialty chemicals can allow competition. Consolidation within the sector may lead to stronger, more competitive firms with improved economies of scale due to increasing capacity.

Manufacturing 103

Manufacturing Electronics Transportation Healthcare 103

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.

Financial Advice

Calculated Risk

OCTOBER 10, 2024

The DOL reported : In the week ending October 5, the advance figure for seasonally adjusted initial claims was 258,000 , an increase of 33,000 from the previous week's unrevised level of 225,000. This is the highest level for initial claims since August 5, 2023 when it was 258,000. The 4-week moving average was 231,000, an increase of 6,750 from the previous week's unrevised average of 224,250. emphasis added The following graph shows the 4-week moving average of weekly claims since 1971.

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Advisor Perspectives

OCTOBER 11, 2024

Wholesale inflation was unchanged last month, compared to expectations of a 0.1% increase. The producer price index for final demand was flat month-over-month (s.a.). On an annual basis, headline PPI decelerated from 1.9% in August to 1.8% in September.

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Wealth Management

OCTOBER 15, 2024

Alternative asset managers want to bring their products to defined contribution plans by using collective investment trusts and interval funds, reports The DI Wire. BlackRock launches a new tech feature for real-time monitoring of private markets data. These are among this week’s investment must reads for wealth advisors.

Wealth Advisor 101

Wealth Advisor Assets Planning Management 101

Abnormal Returns

OCTOBER 7, 2024

Podcasts Blair duQuesnay talks with George Kinder about his new book "The Three Domains of Freedom." (blairbellecurve.com) Daniel Crosby talks behavioral finance with Greg Davies, Head of Behavioral Finance at Oxford Risk. (standarddeviationspod.com) Frazer Rice talks with Megan Gorman quthor of "All the Presidents' Money: How the Men who Governed America Governed Their Money.

Compliance 257

Compliance Wealth Management Financial Advice Government 257

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.

Financial Planning

A Wealth of Common Sense

OCTOBER 1, 2024

The pictures and videos from the wake of Hurricane Helene are unfathomable. One emergency respondent said the flooding in parts of North Carolina resembles biblical devastation. I can’t imagine trying to pick up the pieces if your town, home or business was destroyed by the storm. The good news is this country is pretty good about rallying the troops to help in situations like these.

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Alpha Architect

OCTOBER 11, 2024

Because the Sahm rule focuses solely on the unemployment rate, caution is warranted before assuming it is signaling a recession. The Sahm Rule as a Recession Indicator was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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Calculated Risk

OCTOBER 4, 2024

The headline jobs number in the September employment report was well above expectations, and July and August payrolls were revised up by 72,000 combined. The participation rate was unchanged, the employment population ratio increased, and the unemployment rate decreased to 4.1%. Construction employment increased 25 thousand and is now 688 thousand above the pre-pandemic level.

Numbers 120

Numbers Economics Manufacturing 120