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This week, I speak with author and financial journalist Michael Lewis. Michael has written countless New York Times bestsellers including Flash Boys and Going Infinite. His book The Big Short was turned into an Oscar-winning film, alongside his Oscar-nominated books-turned films The Blind Side and Moneyball. We breakdown the ins and outs of government and his latest book “ Who is Government: The Untold Story of Public Service.” A transcript of our conversation is available here Tuesd
From the BLS: Job Openings and Labor Turnover Summary The number of job openings was little changed at 7.6 million in February , the U.S. Bureau of Labor Statistics reported today. Over the month, hires and total separations held at 5.4 million and 5.3 million, respectively. Within separations, quits (3.2 million) and layoffs and discharges (1.8 million) changed little. emphasis added The following graph shows job openings (black line), hires (dark blue), Layoff, Discharges and other (red column
For many financial advisors, a core part of the retirement planning process involves simulating whether the client's assets will last through retirement. Traditionally, these simulations take the form of either Monte Carlo analyses – showing the percentage of simulated outcomes in which the client finishes with assets remaining – or stress tests that assess plan durability under a handful of adverse scenarios.
Podcasts Cameron Passmore and Benjamin Felix talk lifecycle investing with Professor Scott Cederburg. (rationalreminder.libsyn.com) Bogumil Baranowski talks with Alex Morris author of "Buffett and Munger Unscripted." (podcasts.apple.com) Dan Haylett talks purpose in retirement with David Marlow, author of "The Ikagi Way" (humansvsretirement.com) Housing What is the best case for housing affordability?
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
A quick note on tariffs : Over the past few weeks, I’ve been putting together my quarterly call for clients. The challenge is how to frame the current economic scenario in a way that is useful and informative and not the usual run-of-the-mill noise. Its easy to get distracted by the chaos of random policies that have been coming rapid-fire at Americans.
The BEA released the Personal Income and Outlays report for February: Personal income increased $194.7 billion (0.8 percent at a monthly rate) in February , according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)personal income less personal current taxesincreased $191.6 billion (0.9 percent) and personal consumption expenditures (PCE) increased $87.8 billion (0.4 percent).
The BEA released the Personal Income and Outlays report for February: Personal income increased $194.7 billion (0.8 percent at a monthly rate) in February , according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)personal income less personal current taxesincreased $191.6 billion (0.9 percent) and personal consumption expenditures (PCE) increased $87.8 billion (0.4 percent).
Here’s a crazy stat from Bloomberg: Half of American households account for 97.5% of the wealth in this country. This is the breakdown from Federal Reserve data: On the one hand these numbers — 2.5% of wealth — seem almost impossible for the bottom 50%. On the other hand, this is an improvement from the last decade. It was much worse coming out of the Great Financial Crisis.
Podcasts Michael Kitces talks with AJ Ayers, co-founder of Brooklyn Fi, about building a remote firm focused on equity comp. (kitces.com) Brendan Frazier talks with Kathleen Burns Kingsbury, of KBK Wealth Connection and author of Breaking Money Silence. (podcasts.apple.com) Bogumil Baranowski talks family money dynamics with Emily Bouchrad, founder of Blended Families Flourishing and Bouchard Bespoke Consulting.
Despite the platforms boasts, what it is launching is not any different than other custodians, and advisors shouldnt be threatened, industry observers say.
I had a great time talking with my old buddy, Jim O’Shaughnessy, about market history and where investors go awry.Jim and I go way back, and we discuss how people make bad decisions and why… Transcript here Source : Make Fewer Errors, Make More Money (Ep. 261) My conversation with Barry Ritholtz, Jim O’Shaughnessy Infinite Loops, March 27, 2025 XZXXXX The post Infinite Loops: Make Fewer Errors, Make More Money appeared first on The Big Picture.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
From the Census Bureau reported that overall construction spending decreased: Construction spending during February 2025 was estimated at a seasonally adjusted annual rate of $2,195.8 billion, 0.7 percent above the revised January estimate of $2,179.9 billion. The February figure is 2.9 percent above the February 2024 estimate of $2,133.8 billion. emphasis added Both private and public spending increased: Spending on private construction was at a seasonally adjusted annual rate of $1,686.4 billi
The Economist has a good piece about the growing importance of the stock market on household balance sheets. Here’s the chart that matters: By the end of 2024, Americans owned stocks worth 170% of disposable income which is back at record levels and much higher than in previous decades. The worry here is that a sustained drop in stock prices could eventually have an impact on the real economy.
March 2025 The S&P 500 returned -5.63% in March 2025. (on.spdji.com) How major asset classes performed in March 2025. (capitalspectator.com) The asset asset quilt updated for Q1 performance. (novelinvestor.com) Alternatives How to use private equity in your portfolio. (morningstar.com) Is the Yale Model dead? (ft.com) Companies OpenAI was recently valued at $300 billion.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
A recurrent theme here has been the opportunity provided by a large installed base, but that is aged and entering the prime years for repair if not replacement. For example, in 2023, we discussed how an older car fleet would provide a long tailwind for auto parts retailers. More recently, we discussed the opportunity present in our nation’s old housing stock.
From the BEA: Gross Domestic Product, 4th Quarter and Year 2024 (Third Estimate), GDP by Industry, and Corporate Profits Real gross domestic product (GDP) increased at an annual rate of 2.4 percent in the fourth quarter of 2024 (October, November, and December), according to the third estimate released by the U.S. Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent.
We also answered questions about the difference between a portfolio and a plan, personal finance advice for someone who lost their job, when to go from DIY to an advisor and how to get out of your illiquid investments. Further Reading: Timing the Housing Market: When Should You Sell? 1The S&P 500 has experienced 16 down years in that same time frame but far more corrections along the way. 2A few years ago that condo.
Crypto Fidelity Investments is planning to launch its own stablecoin. (ft.com) Gamestop ($GME) has joined the Bitcoin balance sheet trend. (sherwood.news) Private equity Private equity will not rest until they have access to your 401(k) account. (bloomberg.com) McKinsey & Co. with their 2025 report on private equity performance. (mckinsey.com) ETFs Buffer ETFs are no great innovation.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
First-generation RIA owners like those at CGN Advisors increasingly use synthetic or phantom equity structures to give employees access to a firms growth while deferring actual ownership.
While financial markets tend to rise in the long run, short-term volatility can be alarming for investors. Recent swings have been driven by economic policy shifts, persistent inflation concerns, and geopolitical uncertainty – all of which may unnerve even the steadiest of clients. During turbulent periods like these, advisors play a critical role in helping clients maintain perspective and stay grounded.
Today, in the Calculated Risk Real Estate Newsletter: Moody's: Q1 2025 Apartment Vacancy Rate Highest Since 2010; Office Vacancy Rate at Record High A brief excerpt: From Moodys Analytics Economists: Q1 Moodys CRE Preliminary Trend Analysis The national multifamily market has been under supply-side pressure over the past two years. Steady demand finally paused the vacancy climb after a banner year with record-level inventory growth.
Valideas Strategy of the Week series highlights time-tested investment strategies based on the insights of legendary investors. This week, we turn our focus to a Wall Street icon whose common-sense philosophy and astonishing long-term track record continue to resonate with investors of all levels Peter Lynch. The Legend Behind the Strategy Peter Lynch may be the most successful mutual fund manager of all time.
Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
Rates Why the Treasury bond market matters. (econofact.org) How increased bond indexing has changed how bonds trade. (papers.ssrn.com) Why term premia models disagree. (ft.com) Research Don't pay alpha fees for beta exposure. (aqr.com) Where stock market returns have come from. (marginalrevolution.com) Why is the real price of gold rising? (mrzepczynski.blogspot.com) Checking in on spot Bitcoin ETFs one year in.
Commissioner Caroline Crenshaw said the other commissioners were hoping to let someone else do their dirty work. Acting Chair Mark Uyeda said the move ended the agencys involvement in the defense of the costly and unnecessarily intrusive rule.
Search is indeed evolving. More and more potential RIA clients are turning to ChatGPT for quick, consolidated answersand I dont blame them. Why sift through keyword-stuffed blogs when you can get a direct answer curated from across the web? AI is improving the end-user experience, and we, as an industry, need to adapt. The key? Deliver more value.
Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 0.8% Below 2022 Peak Excerpt: It has been over 18 years since the housing bubble peak. In the January Case-Shiller house price index released this week, the seasonally adjusted National Index (SA), was reported as being 78% above the bubble peak in 2006. However, in real terms, the National index (SA) is about 12% above the bubble peak (and historically there has been an upward slope to real house prices).
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
Dear Mr. Market: This is perhaps one of our favorite articles and times of the year; not necessarily because of basketball but rather it allows us the opprtunity to articulate our main investment themes we see playing out for the remainder of the year. My Portfolio Guide, LLC was the first investment firm to publish a March Madness investing bracket where we share our picks and match them up against each other.
Strategy Leveraged and inverse ETFs can help magnify your mistakes. (wsj.com) Are public markets now a dumping ground for marginal companies? (on.ft.com) Fraud Nikola founder Trevor Milton, whose attorney is the brother of the attorney general, just received a pardon for securities fraud. (wsj.com) Easier rules on crypto, means easier money laundering.
BlackRock set up the model portfolios with publicly traded stocks and bonds alongside more complex private equity and credit funds and will possibly include other alternatives at some point.
In the last few days, I've had the opportunity to look at a couple of different model portfolios from different places and providers that I would describe as being overly complex. I'm not going to call them out publicly or anything but I think we can learn some things. As you can see, there are 18 ETFs in the model and it outperformed by a hair, nothing wrong with that, but it clearly looks identical to the basic two index fund portfolio I used.
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
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