Wealth Management

AUGUST 15, 2023

Total net private wealth across the world decreased by 2.4% to a total of $454.4 trillion, according to Credit Suisse’s annual global wealth report.

223

223

The Reformed Broker

NOVEMBER 29, 2023

I began this blog in November 2008 without any idea where it would take me. Ladies and gentlemen, this is the final post I will be publishing at The Reformed Broker. After today the site will be inactive, forever.

72

72

The Big Picture

MARCH 22, 2023

The graphic above, via Flowing Data , puts recent events into perspective: At $209 billion in assets, the Silicon Valley Bank failure since Washington Mutual crashed in 2008 (JPM Chase took them over from the FDIC). Bank failures since 2001, scaled by amount of assets in 2023 dollars. The post U.S.

Banking 331

Banking Assets 331

The Big Picture

NOVEMBER 8, 2024

He was also a Pulitzer finalist for his work covering the 2008 financial crisis. He has since reported from over 36 countries, holds two Gerald Loeb awards and eight prizes from the Society of American Business Editors and Writers.

Economics 189

Economics Management 189

Calculated Risk

MARCH 13, 2025

Household percent equity (as measured by the Fed) collapsed when house prices fell sharply in 2007 and 2008. Note that this does NOT include public debt obligations. The second graph shows homeowner percent equity since 1952. In Q4 2024, household percent equity (of household real estate) was at 74.4% - down from 74.7% in Q3, 2024.

Nonprofit 162

Nonprofit Assets Accounting 162

The Big Picture

OCTOBER 13, 2023

November 3, 2006) Tracking NAR Spin (April 23rd, 2008) Realtors Get Real (March 2007) Pending Home Sales Index, NAR Housing Market “Bottoms” (January 2008) How Counter-Productive is Realtor Association Spin?

Numbers 298

Numbers Sales Management Marketing 298

Calculated Risk

OCTOBER 31, 2022

For loans made in 2005 through 2008 (1% of portfolio), 3.83% are seriously delinquent (down from 3.95%), For recent loans, originated in 2009 through 2021 (98% of portfolio), 0.55% are seriously delinquent (down from 0.57%).

Portfolio 363

Portfolio 363

Calculated Risk

DECEMBER 28, 2022

For loans made in 2005 through 2008 (1% of portfolio), 3.49% are seriously delinquent (down from 3.71%), For recent loans, originated in 2009 through 2021 (98% of portfolio), 0.52% are seriously delinquent (down from 0.53%).

Portfolio 361

Portfolio 361

Calculated Risk

APRIL 28, 2023

For loans made in 2005 through 2008 (1% of portfolio), 3.11% are seriously delinquent (down from 3.31%), For recent loans, originated in 2009 through 2021 (98% of portfolio), 0.48% are seriously delinquent (down from 0.51%).

Portfolio 358

Portfolio 358

Calculated Risk

JANUARY 30, 2023

For loans made in 2005 through 2008 (1% of portfolio), 3.49% are seriously delinquent (unchanged from 3.49%), For recent loans, originated in 2009 through 2021 (98% of portfolio), 0.53% are seriously delinquent (up from 0.52%).

Portfolio 355

Portfolio 355

Calculated Risk

DECEMBER 1, 2022

For loans made in 2005 through 2008 (1% of portfolio), 3.71% are seriously delinquent (down from 3.83%), For recent loans, originated in 2009 through 2021 (98% of portfolio), 0.53% are seriously delinquent (down from 0.55%).

Portfolio 353

Portfolio 353

Calculated Risk

MARCH 4, 2025

Below is a table showing Federal Reserve net income the vast bulk of which reflects net interest income from 2008 to 2024 (2024 is my estimate), as well as Fed remittances to the Treasury as shown in the Feds financials (more on this later).

Assets 162

Assets Accounting 162

Wealth Management

JUNE 27, 2023

Global wealth declined 4% last year, the first drop since 2008, according to a Boston Consulting Group study.

Consulting 254

Consulting 254

Wealth Management

MAY 30, 2024

The latest fundraising marks the fifth iteration of the firm’s Loan Partners fund, a series that got off the ground in 2008.

232

232

Calculated Risk

AUGUST 1, 2022

Non-residential (blue) spending is 19% above the bubble era peak in January 2008 (nominal dollars). Residential (red) spending is 36% above the bubble peak (in nominal terms - not adjusted for inflation). Public construction spending is 6% above the peak in March 2009. The second graph shows the year-over-year change in construction spending.

360

360

Calculated Risk

OCTOBER 3, 2022

Non-residential (blue) spending is 24% above the bubble era peak in January 2008 (nominal dollars). Residential (red) spending is 35% above the bubble peak (in nominal terms - not adjusted for inflation). Public construction spending is 9% above the peak in March 2009. The second graph shows the year-over-year change in construction spending.

358

358

Calculated Risk

FEBRUARY 13, 2025

Household debt previously peaked in 2008 and bottomed in Q3 2013. Transition into serious delinquency, defined as 90 or more days past due, edged up for auto loans, credit cards, and HELOC balances but remained stable for mortgages. emphasis added Click on graph for larger image. rise from 2024Q3.

Economics 205

Economics Retail Banking Accounting 205

Wealth Management

MAY 17, 2023

The tool includes the option to run plans through real-life historical scenarios including the Great Depression, the post-war period, 1970s stagflation, the dot-com bubble and the 2008 financial crisis.

Retirement 240

Retirement Planning 240

Wealth Management

OCTOBER 1, 2024

Bettinger, who turns 65 next year, has led Schwab since 2008. He's handing the role to President Rick Wurster.

Banking 211

Banking 211

Calculated Risk

AUGUST 31, 2022

For loans made in 2005 through 2008 (1% of portfolio), 4.11% are seriously delinquent (down from 4.45%), For recent loans, originated in 2009 through 2021 (98% of portfolio), 0.60% are seriously delinquent (down from 0.63%).

Portfolio 328

Portfolio 328

Calculated Risk

SEPTEMBER 12, 2024

Household percent equity (as measured by the Fed) collapsed when house prices fell sharply in 2007 and 2008. Note that this does NOT include public debt obligations. The second graph shows homeowner percent equity since 1952. In Q2 2024, household percent equity (of household real estate) was at 74.9% - up from 74.2% in Q1, 2024.

Nonprofit 332

Nonprofit Assets Accounting 332

Calculated Risk

SEPTEMBER 9, 2022

Household percent equity (as measured by the Fed) collapsed when house prices fell sharply in 2007 and 2008. Note that this does NOT include public debt obligations. The second graph shows homeowner percent equity since 1952. In Q2 2022, household percent equity (of household real estate) was at 70.5% - up from 70.1% in Q1, 2022.

Nonprofit 363

Nonprofit Assets Accounting 363

Calculated Risk

DECEMBER 9, 2022

Household percent equity (as measured by the Fed) collapsed when house prices fell sharply in 2007 and 2008. Note that this does NOT include public debt obligations. The second graph shows homeowner percent equity since 1952. In Q3 2022, household percent equity (of household real estate) was at 70.5% - unchanged from 70.5% in Q2, 2022.

Nonprofit 360

Nonprofit Assets Accounting 360

Nerd's Eye View

MARCH 12, 2025

Following the long run-up in the US equity markets since the bottom of the 2008–2009 financial crisis, many investors with taxable investment accounts have likely found themselves with high embedded gains in their portfolios. While the gains signal portfolio growth, they also create challenges for ongoing management.

Taxes 141

Taxes Portfolio Asset Allocation Assets 141

Wealth Management

OCTOBER 17, 2022

Credit Suisse is among lenders that have been defending themselves against claims over the sale of mortgage securities that plummeted in value during the 2008 crisis. It paid $600 million last year to settle a lawsuit with MBIA Insurance Corp over mortgage securities.

Insurance 228

Insurance Sales 228

A Wealth of Common Sense

FEBRUARY 27, 2024

Despite 5% short-term interest rates and stickier inflation than some people would like and the Fed potentially pushing back interest rate cuts for a few months and the new True Detective seasons being a massive disappointment…the S&P 500 continues to take out new all-time highs.

Investments 144

Investments Investing Marketing Marketing 144

The Big Picture

DECEMBER 5, 2024

He invited me to present to that audience on his morning call to the firm—around 2008(?). .” At the time, I had been writing about subprime mortgages, derivatives, and other elements of risk that had been widely ignored by The Street. Art wanted his crew to at least consider these risks, which so many were overlooking.

Compliance 290

Compliance Marketing Marketing Management 290

Calculated Risk

OCTOBER 19, 2022

percent of all applications, which was the highest share since March 2008. The current 30-year fixed rate is now well over three percentage points higher than a year ago, and both purchase and refinance applications were down 38 percent and 86 percent over the year, respectively.” percent from 6.81 percent, with points decreasing to 0.95

Sales 360

Sales Marketing Marketing 360

The Big Picture

JULY 21, 2023

Since 2008, the Census Bureau has included government transfers in its Supplemental Poverty Measure. ” In 2008. If this were true, it would mean we have been measuring income inequality incorrectly (perhaps wealth inequality as well). It is untrue. You may remember Phil Gramm. He’s the (thankfully) former U.S.

Math 246

Math Government Economics Valuation 246

Calculated Risk

JANUARY 10, 2024

Job growth slowed in 2023 but was still historically strong. The second table shows the change in construction and manufacturing payrolls starting in 2006.

Economy 298

Economy Manufacturing Economics Sales 298

The Big Picture

APRIL 19, 2023

Despite the headline, the Wall Street Journal chart (above) reveals 2022 as the exception that proves the point: Prior selloffs — 2000-03 and 2008-09 — were all equity driven. The 60/40 is not “back” because it never left. Those years are fairly ugly for investment portfolios.

Portfolio 334

Portfolio Risk Tolerance Investments Investing 334

The Big Picture

NOVEMBER 28, 2022

Coincident Index by States (May 22, 2008). The FOMC increases are having an impact. Previously : Signs of Softening (July 29, 2022). Why Recessions Matter to Investors (July 11, 2022). Soft Landing RIP (July 25, 2022). The post Coincident State Indexes (October 2022) appeared first on The Big Picture.

Banking 279

Banking Economy 279

The Big Picture

SEPTEMBER 15, 2023

Tune in for a deep dive into the financial markets with Barry, who reveals how his background in behavioral finance and his fearless approach when launching his blog, the “Big Picture,” earned him the reputation as “one of the most dangerous people in financial media.”

Wealth Management 262

Wealth Management Media Financial Market Management 262

The Big Picture

NOVEMBER 5, 2022

In 2008, he received the George Polk Award for financial reporting. This week, we speak with financial historian Edward Chancellor. He is currently a columnist for Reuters Breakingviews and an occasional contributor to the Wall Street Journal and MoneyWeek.

Valuation 311

Valuation Economy Management Marketing 311

Wealth Management

MAY 1, 2023

First Republic’s private wealth-management platform will become part of JPMorgan Advisors, which JPMorgan inherited from Bear Stearns when it bought that firm in 2008.

Wealth Management 196

Wealth Management Management 196

Calculated Risk

NOVEMBER 1, 2022

Non-residential (blue) spending is 28% above the bubble era peak in January 2008 (nominal dollars). Residential (red) spending is 35% above the bubble peak (in nominal terms - not adjusted for inflation). Public construction spending is 11% above the peak in March 2009.

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277

Abnormal Returns

JANUARY 16, 2024

redfin.com) Household mortgage debt as a percentage of GDP has been dropping since 2008. (theverge.com) Companies are increasingly shelling out for private jets for CEOs. wsj.com) Housing Baby boomers are holding onto their large houses. calculatedrisk.substack.com) Why is it so hard to build a house in the UK?

Financial Advising 263

Financial Advising Economy Media Marketing 263