Calculated Risk
SEPTEMBER 6, 2024
Today, in the Calculated Risk Real Estate Newsletter: Catching Up: New Home Sales Increased to 739,000 Annual Rate in July Brief excerpt: I'm back from Africa! I’ll be catching up on recent data over the next few days, and I’ll post some photos / videos from my trip. Last week the Census Bureau reported New Home Sales in July were at a seasonally adjusted annual rate (SAAR) of 739 thousand.
Wealth Management
SEPTEMBER 6, 2024
F2 Strategy's Doug Fritz discusses how the role of the CRM has evolved.
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Abnormal Returns
SEPTEMBER 6, 2024
Strategy Three reasons why the stock market declines. (awealthofcommonsense.com) Three reasons to buy Josh Brown's new book "You Weren’t Supposed To See That." (ritholtz.com) Semiconductors Trying to put a valuation on Nvidia ($NVDA). (aswathdamodaran.blogspot.com) TSMC's ($TSM) Arizona plant is on track for 2025 production. (bloomberg.com) Export controls are not keeping Nvidia ($NVDA) chips out of China.
Wealth Management
SEPTEMBER 6, 2024
The lead enrichment provider also won a Wealthie award, CAIS has a new CTO and feature updates at interVal.
Speaker: Erroll Amacker
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
Calculated Risk
SEPTEMBER 6, 2024
The headline jobs number in the August employment report was below expectations, and June and July payrolls were revised down by 82,000 combined. The participation rate and the employment population ratio were unchanged, and the unemployment rate decreased to 4.2%. Construction employment increased 34 thousand and is now 665 thousand above the pre-pandemic level.
Abnormal Returns
SEPTEMBER 6, 2024
Listening Someone was just charged with fraud using AI to create hundreds of thousands of fake songs by nonexistent bands. (arstechnica.com) What it's like to be 'the other guy' on a celebrity podcast. (nytimes.com) Hedge funds Corey Hoffstein talks with Giuseppe Paleologo about portfolio construction at multi-manager hedge funds. (podcasts.apple.com) Joe Weisenthal and Tracy Alloway talk with Joe Peta about how to measure manager skill.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Nerd's Eye View
SEPTEMBER 6, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that the Treasury Department has finalized rules requiring most SEC-registered RIAs to implement risk-based Anti-Money Laundering and Countering the Financing of Terrorism programs, including a requirement to report suspicious activity to Treasury's Financial Crimes Enforcement Network, with firms having until January 1, 2026 to comply with the rule.
Calculated Risk
SEPTEMBER 6, 2024
From the BLS: Employment Situation Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate changed little at 4.2 percent , the U.S. Bureau of Labor Statistics reported today. Job gains occurred in construction and health care. The change in total nonfarm payroll employment for June was revised down by 61,000, from +179,000 to +118,000, and the change for July was revised down by 25,000, from +114,000 to +89,000.
A Wealth of Common Sense
SEPTEMBER 6, 2024
I bought a Peloton exercise bike during the early days of the pandemic. It’s convenient and the technology is pretty neat.1 But I never would have purchased shares in the company. I have a rule of thumb that anything new that’s fitness-related is a fad. I’ve seen far too many fad diets and fancy exercise equipment or videos come and go over the years.
Calculated Risk
SEPTEMBER 6, 2024
From BofA: Since our last weekly publication, the 3Q GDP tracking estimate went down three tenths to 2.3% q/q saar while our 2Q GDP tracking estimate remains unchanged at 3.0% q/q saar since the second official estimate. [Sept 6th estimate] emphasis added From Goldman: The details of the trade balance report were somewhat softer than our previous assumptions while the details of the factory orders report were roughly in line with our expectations.
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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.
Alpha Architect
SEPTEMBER 6, 2024
Joseph Liberman, Stanley Krasner, Nathan Sosner, and Pedro Freitas, authors of the September 2023 study “Beyond Direct Indexing: Dynamic Direct Long-Short Investing,” examined if the utilization of leverage and long-short strategies motivated by the literature on factor-based investing could improve on the tax benefits of direct indexing and tax-loss harvesting.
Million Dollar Round Table (MDRT)
SEPTEMBER 6, 2024
By Dave Crenshaw I’m going to share with you what I call “switch busters,” which are ways to reduce the number of times you switch activities in your day. If you can do that, you can radically decrease the amount of time it takes to complete pretty much everything. Most- and least-valuable activities The one thing that really hits the heart is all the hats you wear, and they create a lot of switches.
Advisor Perspectives
SEPTEMBER 6, 2024
Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process.
Truemind Capital
SEPTEMBER 6, 2024
India’s 1-year G-Sec is trading at 6.75% and 10-year G-sec yields 6.85%. The difference is only 0.10%. 5-year G-sec is trading at 6.76%—almost at the same level as 1-year G-sec. This indicates that the yield curve is flat. There is a peculiar situation here. Usually, as the duration of any debt security increases (from the same issuer, in this case, it is GOI), the yield also goes up.
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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?
Advisor Perspectives
SEPTEMBER 6, 2024
The yield on the 10-year note ended September 6, 2024 at 3.72%, the 2-year note ended at 3.66%, and the 30-year at 4.03%.
Trade Brains
SEPTEMBER 6, 2024
Reliance Industries Limited (RIL) recently outlined its future strategies at its Annual General Meeting (AGM). As a leading force in India’s business sector, RIL highlighted its plans for growth across retail, digital services, and energy. The company’s innovative approaches and strategic investments underscore its commitment to driving substantial value.
Advisor Perspectives
SEPTEMBER 6, 2024
The world’s biggest asset manager is taking some chips off the table as markets enter a “new phase” of turbulence ahead of a Federal Reserve interest rate cutting cycle and the US presidential election.
Validea
SEPTEMBER 6, 2024
In today’s unpredictable financial landscape, investors are increasingly seeking ways to help mitigate risk. One strategy that can make sense is focusing on low beta stocks that also demonstrate solid fundamentals. Let’s explore the benefits of this approach and highlight some standout companies that fit the bill. Understanding Beta and Its Importance Beta is a measure of a stock’s volatility in relation to the overall market.
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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.
Advisor Perspectives
SEPTEMBER 6, 2024
Recent changes to the FAFSA form and process include a simpler form, fewer questions and a revised eligibility formula. Our Bill Cass highlights what you need to know to apply for federal financial aid for college.
Validea
SEPTEMBER 6, 2024
In the vast ocean of investment strategies, momentum investing stands out as a surfboard that catches the biggest waves. Unlike its more intuitive cousins such as value or quality investing, momentum doesn’t rely on fundamental analysis of a company’s financials. Instead, it’s all about riding the wave of market sentiment. What is Momentum Investing?
Advisor Perspectives
SEPTEMBER 6, 2024
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of those indicators, nonfarm employment. August saw a 142,000 increase in total nonfarm payrolls and the unemployment fell to 4.2%.
Validea
SEPTEMBER 6, 2024
Here is the latest update for September from Validea’s market valuation tool. Rather than focusing on market-cap weighted indexes like the S&P 500, our tool focuses on the valuation of the average stock relative to history. We use the median of our investable universe of 2700 stocks to perform the calculation. The average stock got a little cheaper in August with the TTM PE Ratio falling to 21 from 21.5.
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.
Advisor Perspectives
SEPTEMBER 6, 2024
US Treasuries gained and traders ramped up their bets that the Federal Reserve will opt for a supersized interest-rate cut this month after a mixed report on the US labor market.
Random Roger's Retirement Planning
SEPTEMBER 6, 2024
Barron's dusted off the retirement bucket playbook in an article while also arguing that a 5% withdrawal rate in retirement can now be considered safe versus the more common 4%. Before I forget, read the comments on this one. Always read the comments. First to the buckets. They suggest two years worth of cash invested in cash proxies (my word, not theirs), 5-8 years in income producing securities like bonds and then put the rest in growth like the stock market.
Advisor Perspectives
SEPTEMBER 6, 2024
US hiring fell short of forecasts in August after downward revisions to the prior two months, a development likely to fuel ongoing debate over how much the Federal Reserve should cut interest rates.
Wealth Management
SEPTEMBER 6, 2024
From taxes to tariffs, several changes are being discussed on the campaign trail that would result in new benefits for some and new burdens for others.
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
Advisor Perspectives
SEPTEMBER 6, 2024
Most people see “blockchain” and “funds” in the same sentence and immediately think of pools of money betting on cryptocurrencies like Bitcoin and Ether. That isn’t how Singapore sees the utility of distributed ledgers.
Advisor Perspectives
SEPTEMBER 6, 2024
OPEC+ is like a teabag – it only works in hot water. The late Robert Mabro, one of the savviest oil-market observers, liked to say the cartel only got the job done when it was under prolonged financial pain. To judge by its latest actions, OPEC+ has yet to realize it’s inside a warming kettle.
Advisor Perspectives
SEPTEMBER 6, 2024
The latest employment report showed 142,000 jobs were added in August, falling short of the expected addition of 164,000 new jobs. Meanwhile, the unemployment rate ticked lower to 4.2%.
Advisor Perspectives
SEPTEMBER 6, 2024
Candidate tax policies could affect municipal bonds, but the bigger picture is important too.
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
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