Abnormal Returns
DECEMBER 7, 2023
Rates 10-year Treasury yields are down nearly 100bp from their peak. (axios.com) 30-year mortgage rates have dropped from 8% back to 7%. (housingwire.com) Companies P&G ($PG) is still writing down the value of Gillette. (wsj.com) What phrases and words companies stood out in conference calls in 2023? (ft.com) VC SimpleClosure, a start-up that helps other start-ups wind down their operations, is doing a booming business.
The Big Picture
DECEMBER 7, 2023
My morning train WFH reads: • How much should it cost to sell a house? Your real estate agent may be charging too much. Why should homebuyers and sellers pay for services they neither want nor use? It’s like being forced to pay a travel agent commission when booking a flight directly online. ( USA Today ) • Signs of a Weakening Job Market, in Five Charts : Openings and quits data could give clues to the direction of hiring and the economy. ( Wall Street Journal ) see also Pay Thousands to
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Abnormal Returns
DECEMBER 7, 2023
Books An excerpt from "The Kingdom, The Power, and The Glory: American Evangelicals in an Age of Extremism" by Tim Alberta. (politico.com) A Q&A with Sam Wasson author of the new book "The Path to Paradise: A Francis Ford Coppola Story." (insidehook.com) Venture capital No one should be surprised by the drama surrounding OpenAI after learning about its origins.
The Big Picture
DECEMBER 7, 2023
I’m very excited to tell you about my new podcast: At the Money. Each week, we are going to spend 10 minutes diving into a specific topic that affects you and your money: Acquiring it, spending it, and most of all, investing it. My experience as an investor is just the starting point for ATM: I am tapping into a network of experts I have developed over decades across a wide range of fields to discuss everything from taxes to portfolio construction, differences between skill and luck, how t
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.
A Wealth of Common Sense
DECEMBER 7, 2023
A reader asks: Sure it’s great the S&P 500 is up 20% this year but aren’t we just pricing in the inevitable Fed rate cuts in 2024? Should we really expect the market to go up again next year after surprising to the upside this year? Color me skeptical. Full disclosure: I’m naturally bearish and take a bit of an anti-Ben stance about the markets.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Advisor Perspectives
DECEMBER 7, 2023
Pop Quiz! Without recourse to your text, your notes, or a Google search, what line item is the largest asset in Uncle Sam's financial accounts? A) U.S.
Wealth Management
DECEMBER 7, 2023
Under its minority investment model, Summit will provide cash, equity and exclusive privileges to Prostatis Financial Advisors Group.
Calculated Risk
DECEMBER 7, 2023
From Manheim Consulting today: Wholesale Used-Vehicle Prices Decrease in November Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.1% in November from October. The Manheim Used Vehicle Value Index (MUVVI) dropped to 205.0, down 5.8% from a year ago. “While November’s decline was only slightly less than October’s, the move lower was on our radar, given the typical seasonal downward trend that paused in August and September,” said Chris Frey, senior mana
Wealth Management
DECEMBER 7, 2023
Firms ranging from Morgan Stanley and Raymond James to LPL Financial and Cetera Financial Group decried state regulators’ proposals, but non-profit law clinics representing small investors said NASAA was on the right track.
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.
Calculated Risk
DECEMBER 7, 2023
The Federal Reserve released the Q3 2023 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits fell to $151.0 trillion during the third quarter of 2023. The value of directly and indirectly held corporate equities decreased $1.7 trillion and the value of real estate increased $0.5 trillion. Household debt increased 2.5 percent at an annual rate in the third quarter of 2023.
Wealth Management
DECEMBER 7, 2023
What motivated this $1.6B multi-generational Wells Fargo team to leave the wirehouse world for supported independence with a relatively unknown broker/dealer?
Calculated Risk
DECEMBER 7, 2023
Today, in the Real Estate Newsletter: The "Home ATM" Mostly Closed in Q3 Excerpt: During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.
Wealth Management
DECEMBER 7, 2023
Insights from Fidelity's Bill Maclay on identifying growth-driven properties, emphasizing free cash flow, and navigating opportunities in Commercial Mortgage Backed Securities (CMBS) and private lending in today's market.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Calculated Risk
DECEMBER 7, 2023
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 8:30 AM ET, Employment Report for November. The consensus is for 200,000 jobs added, and for the unemployment rate to be unchanged at 3.9%. • At 10:00 AM, University of Michigan's Consumer sentiment index (Preliminary for December).
Wealth Management
DECEMBER 7, 2023
A final rule meant to “standardize” climate-related disclosures for issuers could also come in the spring, according to the White House Office of Management and Budget.
Calculated Risk
DECEMBER 7, 2023
On Friday at 8:30 AM ET, the BLS will release the employment report for November. The consensus is for 200,000 jobs added, and for the unemployment rate to be unchanged at 3.9%. There were 150,000 jobs added in October, and the unemployment rate was at 3.9%. From BofA economists: "Nonfarm payroll employment likely rose by 200k in November following a 150k increase in October.
Wealth Management
DECEMBER 7, 2023
As of the first week of December, exchange-traded-fund issuers had liquidated or delisted 234 products in 2023. That compares with 159 closures last year and just 72 in 2021.
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
Advisor Perspectives
DECEMBER 7, 2023
Homebuyers have suffered some severe whiplash in recent months. After all, when mortgage rates hit 8% in late October, it was reasonable to think the housing market would stay on ice throughout the winter.
Wealth Management
DECEMBER 7, 2023
The collaboration between Hamilton Lane and TIFIN to build a private markets digital assistant gets funding from Venture capital firm FINTOP Capital.
Random Roger's Retirement Planning
DECEMBER 7, 2023
When we look at different strategies or market segments, I'll often say something like I want this to work but. and of course the point that matters comes after the but. And frequently the but is that it doesn't really work as hoped for or maybe the return is good but some purported diversification benefit doesn't quite deliver. Part of the process for me is to explore ideas and not give up trying to learn more about an idea because with more enlightenment and more study maybe something can make
Wealth Management
DECEMBER 7, 2023
Toronto-based Wealthsimple has grown rapidly, with assets rising about 10-fold to C$25 billion since 2018, thanks in part to slick advertising and some Hollywood star power — celebrities Drake, Michael J. Fox and Ryan Reynolds are among its minority investors.
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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.
Advisor Perspectives
DECEMBER 7, 2023
In the week ending December 2, initial jobless claims were at a seasonally adjusted level of 220,000, an increase of 1,000 from the previous week's revised figure. The latest reading is lower than the forecast of 222,000.
Wealth Management
DECEMBER 7, 2023
Ernst & Young’s Cory McCruden shares how generative AI is revolutionizing the financial advisory industry.
Trade Brains
DECEMBER 7, 2023
7 Best Personal Finance Course s: Mastering personal finance as a beginner is a pivotal step toward financial well-being. In this article, we guide you through the list of top personal finance courses designed for beginner to intermediate-level learners. From budgeting basics to investments, these courses offer a comprehensive foundation for managing your money in a better way.
Wealth Management
DECEMBER 7, 2023
Franklin Tsung, CEO at Future Advice, on maximizing Salesforce for financial advisors.
Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global
In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!
Trade Brains
DECEMBER 7, 2023
Fundamental Analysis Of Aurobindo Pharma: Since the outbreak of the pandemic, there has been a greater emphasis on pharmaceutical companies due to the increased attention on global health concerns. One such company in this sector is Aurobindo Pharma. The company’s stock has once again reached its all-time high in recent days after tumbling from its Covid Highs.
Wealth Management
DECEMBER 7, 2023
Payment for order flow allows brokerages and big traders to team up against the little guy.
Advisor Perspectives
DECEMBER 7, 2023
As of Q3 2023, the latest Fed balance sheet indicates that household net worth has risen 154% since reaching its 2009 low. However, when adjusted for inflation, household net worth has increased by only 77% since the 2009 trough.
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