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Calculation: BEA Table 3.1 Line 20 (Current Expenditures) divided by Table 1.1.5 Line 1 (GDP). Alternatively, Item #2 below divided by GDP. “ If you torture data long enough, it will confess to anything. ” – Ronald Coase Hey, it’s @TBPInvictus. Let’s delve into a case in point of Coase’s theorem: If you wanted to peddle the narrative that government spending is out of control, you might present a chart like the one above, which is an exact replica of a chart t
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.
Welcome everyone! Welcome to the 430th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is AJ Ayers. AJ is the co-founder of Brooklyn Fi, an RIA based in Brooklyn, New York but operating as a fully remote business, that oversees $370 million in assets under management for more than 400 client households. What's unique about AJ, though, is how she and her business partner have navigated the hiring and training, and system and process challenges, that come from very r
Crypto Strategy ($MSTR) now owns more than 500,000 Bitcoin. (theblock.co) Tornado Cash is used by cybercriminals. The U.S. has removed sanctions on it. (axios.com) How Solana became synonymous with memecoins. (msn.com) Global America's allies are rethinking their purchase of U.S. arms systems. (wapo.st) Members of the administration are using Signal to coordinate military actions.
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
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
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).
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).
Almost anyone who has onboarded new employees will attest to the inherent balancing act it requires. New advisory firm employees need to learn ‘just a few' things: who their teammates are and how to work productively with them, who the firm serves, what makes the clientele unique, and how to navigate the daily operations and long-term goals of the firm.
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.
Fun chatting with Meb! Todays guest is Barry Ritholtz, Chairman, and CIO of Ritholtz Wealth Management, which manages over $5.7 billion for 3,900 families. His latest book, How Not to Invest, offers a blueprint to help you make better decisions and achieve financial success. In todays episode, Barry & I discuss the pitfalls of relying on experts for investment advice, the dangers of panic selling, the allure of following investment gurus, and the value of meaningful experiences over materia
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.
Today, in the CalculatedRisk Real Estate Newsletter: Policy and 2025 Housing Outlook Excerpt: I started the year taking Fed Chair Jerome Powells approach to the impact of policy: Id wait to see what was implemented before changing my outlook. Now we know a little more. Although there is still significant uncertainty, it appears that tariffs will stay (and likely increase in early April).
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.
AI Advisers are warming to AI. (thinkadvisor.com) How AI startup FINNY came to be. (riabiz.com) Zocks, which is focused on advisor-client meetings, raised a Series A. (citywire.com) What would an agentic AI solution look like for a financial advisor? (advisorperspectives.com) Ranking the adviser AI note taking apps. (kitces.com) Aging Older Americans have a bad sense of the risk of long-term care costs.
Despite the platforms boasts, what it is launching is not any different than other custodians, and advisors shouldnt be threatened, industry observers say.
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?
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.
Weekend: Schedule for Week of March 23, 2025 Monday: At 8:30 AM ET, Chicago Fed National Activity Index for February. This is a composite index of other data. From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are up 25 and DOW futures are up 160 (fair value). Oil prices were up over the last week with WTI futures at $68.28 per barrel and Brent at $72.16 per barrel.
By Antoinette Tuscano, MDRT senior content specialist Throughout the world, people can bypass a financial advisor and go online to buy life insurance. In some Asian countries, this reality seems particularly alarming since the life insurance market is near the saturation point. The urgent question then becomes, Who will I sell to if people go online and buy it themselves?
Books A Q&A with Reid Hoffman, co-author of "Superagency: What Could Possibly Go Right With Our AI Future?" (theguardian.com) A Q&A with Alex Hutchinson author of "The Explorers Gene: Why We Seek Big Challenges, New Flavors, and the Blank Spots on the Map." (davidepstein.substack.com) An excerpt from "Proof: The Uncertain Science of Certainty," by Adam Kucharski.
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
Peoples & Co. Private Wealth Stewardship is led by CEO Duane Peoples, who is joined by his wife, son and daughter, and takes a faith-based approach to wealth management.
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.
Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local Housing Markets in February and a Look Ahead to March Sales A brief excerpt: After the National Association of Realtors (NAR) releases the monthly existing home sales report , I pick up additional local market data that is reported after the NAR. This is the final look at local markets in February.
If Im being honest, when AI first came onto the scene, I felt overwhelmed by it, so I used it very sparingly. Last September, I attended Hubspots annual conference, INBOUND. The overwhelming message throughout the event was that AI is the future (and the now), and we must embrace it. When used correctly, AI makes us better and more productive at what we do.
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.
By Antoinette Tuscano, MDRT senior content specialist Significant life experiences such as the death of a loved one, marriage, divorce and the birth of a child impact your clients lives and finances. Financial advisors often have a front-row seat to many of these seasons in their clients lives. While cards and flowers are kind and thoughtful gestures for these life changes, some advisors go the extra mile and offer referrals and connections to additional services as a next level of client serv
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.
From STR: U.S. hotel results for week ending 22 March The U.S. hotel industry reported positive year-over-year comparisons, according to CoStars latest data through 22 March. 16-22 March 2025 (percentage change from comparable week in 2024): Occupancy: 66.0% (+1.0%) Average daily rate (ADR): US$165.48 (+1.8%) Revenue per available room (RevPAR): US$109.22 (+2.8%) emphasis added The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
On this episode of Live from The Compound, Downtown Josh Brown is joined by Barry Ritholtz, Co-founder and Chairman of Ritholtz Wealth Management to discuss his new book release “How Not to Invest” The post The Compound: How Not to Invest appeared first on The Big Picture.
How does one create a $100 billion empire while pioneering an endless supply of transplantable organs that could save millions of lives? The first step is launching a multi-billion-dollar satellite company (SiriusXM – SIRI). The next step? Founding a biotechnology company with nothing more than a high school-level biology education all in a desperate attempt to save the life of your seven-year-old daughter from a rare heart disease that claims lives within three to five years.
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.
Listening Peter Kafka talks the business of podcasting with PJ Vogt of Search Engine fame. (podcasts.apple.com) Nilay Patel talks AI and music with Kakul Srivastava, CEO of music creation platform Splice. (theverge.com) Business David Rosenthal and Benjamin Gilbert take a deep dive into the Indian Premier Cricket League. (acquired.fm) David Senra discusses lessons from Raising Crane's Founder Todd Graves.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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