The Big Picture

DECEMBER 6, 2023

The Charlie Munger Manifesto / PDF The post The Charlie Munger Manifesto (via Vishal) appeared first on The Big Picture.

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Abnormal Returns

DECEMBER 6, 2023

Podcasts Morgan Housel and Doug Boneparth discuss Charlie Munger's legacy. (open.spotify.com) Christine Benz and Jeff Ptak talk all things retirement with Dan Haylett. (morningstar.com) Retirement The case for (and against) taking Social Security early. (humbledollar.com) Why some people choose to come out of retirement. (humbledollar.com) How many more years do you have to live (on average)?

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The Big Picture

DECEMBER 6, 2023

 Investing Skill vs. Luck with Michael J. Mauboussin, Counterpoint Global (Dec 6, 2023) Is it better to be lucky or good? How much of a role does luck pay in investing? And how can you tell the difference between chance and skill? In this episode of At the Money, I speak with Michael Mauboussin. ~~~ About Michael J. Mauboussin: Michael Mauboussin is head of Consilient Research at Counterpoint Global, Morgan Stanley Investment Management.

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Abnormal Returns

DECEMBER 6, 2023

Strategy Why investors may regret earning 5% on cash. (allstarcharts.com) The more room you can put between yourself and your investments, the better. (yield-to-maturity.beehiiv.com) Why investors are attracted to low probability games. (behaviouralinvestment.com) Technology Google ($GOOGL) has finally unveiled Gemini, its new AI model. (venturebeat.com) Eight charts that explain 2023 including the rise of the chatbot.

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Accounting

Nerd's Eye View

DECEMBER 6, 2023

Over the past several years, the financial services industry has undergone a tremendous evolution in how financial advisers deliver and charge for their services. While commission-based models remain in use, fee-for-service models (including AUM, hourly, retainer, and subscription) have become increasingly popular. And because many service offerings have traditionally focused on areas like investments and securities recommendations, there has been little debate about the need to register as an a

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Wealth Management

DECEMBER 6, 2023

SoFi Securities, SogoTrade, M1 Finance and Open to the Public Investing will pay more than $1 million in restitution after clients were promised fees from lending securities they allegedly never received.

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Calculated Risk

DECEMBER 6, 2023

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 1, 2023. Last week’s results include an adjustment for the observance of the Thanksgiving holiday.

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Wealth Management

DECEMBER 6, 2023

The independent wealth management space is becoming less a friendly club and more a pitiless jungle, with big firms squeezing smaller competitors, poaching talent and where organic growth, not M&A, will drive firm value.

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Wealth Management Management 126

Advisor Perspectives

DECEMBER 6, 2023

If Mike Tyson were speaking to a group of investors, what he may have been saying is that everyone has a financial plan until life throws a “punch.

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Financial Planning Planning 119

Speaker: Sierre Lindgren

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.

Assets

Wealth Management

DECEMBER 6, 2023

Funds focused on semiconductors were among the best-performing over the last five years.

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Calculated Risk

DECEMBER 6, 2023

Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in November with Comparison to 2019 A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to November 2019 for each local market (some 2019 data is not available). This is the first look at several early reporting local markets in November.

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Wealth Management

DECEMBER 6, 2023

The former Sanctuary Wealth CEO opens up about the mistakes he made at the helm of the firm, which RIA founders can learn from.

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Advisor Perspectives

DECEMBER 6, 2023

Here's an interesting set of charts that will especially resonate with those of us who follow economic and market cycles. Imagine that five years ago you invested $10,000 in the S&P 500. How much would it be worth today, with dividends reinvested but adjusted for inflation? The purchasing power of your investment has increased to $14,794 for an annualized real return of 7.86%.

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Economics Investing Investments Marketing 105

Speaker: Aaron Berson

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

Management

Wealth Management

DECEMBER 6, 2023

New research from Edelman Financial Engines found 67% of Americans need more than $1 million to feel wealthy, while more than half say social media has negatively impacted saving.

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Engineering Media 119

Advisor Perspectives

DECEMBER 6, 2023

The federal deficit is already high at 6% of GDP. But if a recession hits – as Jeffrey Gundlach fears will happen next year – unemployment will rise, and the deficit and the interest the government pays on it will cripple the economy.

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Government Economy 105

Wealth Management

DECEMBER 6, 2023

Suspicious conditions surrounding a second will of Darlene Williams lead to claims of undue influence.

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A Wealth of Common Sense

DECEMBER 6, 2023

Today’s Animal Spirits is brought to you by Nuveen and Kaplan Schweser: See here for more information on investing with Nuveen See here for more information on Level 1-3 CFA prep courses On today’s show, we discuss: Full transcript from CNBCs “Charlie Munger: A Life of Wit and Wisdom” Should we believe Americans when they say the economy is bad?

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Economy Investing Investments 91

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.

Accounting

Wealth Management

DECEMBER 6, 2023

The heightened concerns about fiscal profligacy and rapid degloblization that rocked Treasury securities now seem like a hallucination.

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Advisor Perspectives

DECEMBER 6, 2023

How do you get financial information to make sense to people who aren’t numbers-minded? How do you become the advisor who helps complicated things make sense without making people feel stupid or overwhelmed?

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Numbers 85

Wealth Management

DECEMBER 6, 2023

Open, honest and candid discussion about retirement income, PEPs, investing options, job dissatisfaction and the word of the year.

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Calculated Risk

DECEMBER 6, 2023

The Census Bureau and the Bureau of Economic Analysis reported : The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $64.3 billion in October , up $3.1 billion from $61.2 billion in September, revised October exports were $258.8 billion, $2.6 billion less than September exports. October imports were $323.0 billion, $0.5 billion more than September imports. emphasis added Click on graph for larger image.

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Economics 78

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

Clients

Wealth Management

DECEMBER 6, 2023

The lawsuit between the Haslam family and Warren Buffett's Berskshire Hathaway hinges on obscure accounting rules the family claims could cost them more than $1 billion.

Accounting 115

Accounting 115

Calculated Risk

DECEMBER 6, 2023

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday: • At 8:30 AM ET, The initial weekly unemployment claims report will be released. The consensus is for 224 thousand, up from 218 thousand last week. • 12:00 PM, Q3 Flow of Funds Accounts of the United States from the Federal Reserve.

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Accounting 72

Wealth Management

DECEMBER 6, 2023

Dr. Sylvia Rose and Dr. Curtis Kidd Telemaque provide thoughtful insights on how RIA can best partner with HBCUs and engage with a diverse talent pool.

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Calculated Risk

DECEMBER 6, 2023

The BEA released their estimate of vehicle sales for November. This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the November 2023 seasonally adjusted annual sales rate (SAAR). Heavy truck sales really collapsed during the great recession, falling to a low of 180 thousand SAAR in May 2009. Then heavy truck sales increased to a new record high of 570 thousand SAAR in April 2019.

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Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Accounting

Wealth Management

DECEMBER 6, 2023

Celso Munoz, portfolio manager at Fidelity Investments, shares a comprehensive approach to enhancing risk-adjusted returns in the dynamic world of fixed income investments.

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Calculated Risk

DECEMBER 6, 2023

From ADP: ADP National Employment Report: Private Sector Employment Increased by 103,000 Jobs in November; Annual Pay was Up 5.6% Private sector employment increased by 103,000 jobs in November and annual pay was up 5.6 percent year-over-year, according to the November ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”).

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Wealth Management

DECEMBER 6, 2023

An employee value proposition may be the single most important tool in the war for talent, says Schwab’s Lisa Salvi, but professional development is gaining relevance.

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