Calculated Risk
APRIL 5, 2024
The headline jobs number in the March employment report was above expectations; and January and February payrolls were revised up by 22,000 combined. The participation rate and the employment population ratio both increased, and the unemployment rate decreased to 3.8%. Leisure and hospitality gained 49 thousand jobs in March and is now above pre-pandemic levels.
Abnormal Returns
APRIL 5, 2024
Markets The global universe of public equities is shrinking. (ft.com) Two stocks accounted for a third of the Russell 2000's 5.2% return in Q1. (wsj.com) Magnificent Seven earning revisions are slowing. (ft.com) Strategy Rebalancing isn't market timing. (awealthofcommonsense.com) Why you should 'diversify your diversifiers.' (rogersplanning.blogspot.com) FTX Behind the scenes, former FTX customers are struggling.
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Calculated Risk
APRIL 5, 2024
From the BLS : Total nonfarm payroll employment rose by 303,000 in March, and the unemployment rate changed little at 3.8 percent , the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, government, and construction. The change in total nonfarm payroll employment for January was revised up by 27,000, from +229,000 to +256,000, and the change for February was revised down by 5,000, from +275,000 to +270,000.
Wealth Management
APRIL 5, 2024
It was a remarkable week in the already indefatigable RIA market, with at least 14 deals announced, two new launches and more than $22 billion in transacted assets.
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
APRIL 5, 2024
From BofA: Since our update last week, 1Q GDP tracking is down two-tenths to 2.0% q/q saar. Also, 4Q GDP came in at 3.4% q/q saar in the third and final estimate, close to our 3.5% forecast. [Apr 5th estimate] emphasis added From Goldman: The details of the trade balance report were somewhat firmer than our previous expectations, and we boosted our Q1 GDP tracking estimate by 0.2pp to +2.5%.
Wealth Management
APRIL 5, 2024
F2 Strategy's co-founder and CEO provides his take on the most important wealth management technology news of the last month.
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Wealth Management
APRIL 5, 2024
Lars Knudsen called his former employer “bullies, plain and simple,” claiming the RIA made false allegations about him, including accusing him of brandishing a gun in the office.
Calculated Risk
APRIL 5, 2024
From Manheim Consulting today: Wholesale Used-Vehicle Prices Declined in March Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in March compared to February. The Manheim Used Vehicle Value Index (MUVVI) fell to 203.1, a decline of 14.7% from a year ago. The decline in the index was driven by the seasonal adjustment, resulting in a 0.4% month-over-month decrease.
Wealth Management
APRIL 5, 2024
Around four dozen new ETFs launched in March. The majority are equities-based with a handful based off bonds or other asset types.
The Big Picture
APRIL 5, 2024
This week, we speak with Ed Hyman, founder and chairman of Evercore ISI International Ltd. and vice chairman of Evercore Inc. He heads Evercore ISI’s economic research team. During his career, Hyman has been ranked as #1 in economics an unprecedented 43 consecutive times by Institutional Investor’s poll of investors. He explains the genesis of the broad and deep industry surveys ISI performs; the results provide a real-time snapshot of the economy weeks or months before it shows up in the
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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.
Wealth Management
APRIL 5, 2024
Gert van der Geer explains how financial advisors can incorporate thematic investments in their client's investment portfolios.
A Wealth of Common Sense
APRIL 5, 2024
Four things I’m thinking about at the moment: 1. The Covid Crash was our 1987 crash. In the 15 trading days from October 6th through October 26th in 1987, the S&P 500 was down 31%. That plunge includes Black Monday which saw the market fall more than 20% in a single day. Over the next four years from the bottom the S&P 500 was up a little less than 110% in total.
Wealth Management
APRIL 5, 2024
Historically, the real estate investment manager relied on independent broker/dealers to reach private wealth. It wants to diversify both its distribution and its investment offerings.
Advisor Perspectives
APRIL 5, 2024
The weekly leading economic index (WLEI) is a composite for the U.S economy that draws from over 20 time-series and groups them into the following six broad categories which are then used to construct an equally weighted average. As of March 22nd, the index was at 26.456, down 0.454 from the previous week, with 5 of the 6 components in expansion territory.
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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?
Truemind Capital
APRIL 5, 2024
As many of you know, I am an investment professional. Very few know that I am also a regular table tennis player. I play at least 4 to 5 times a week. Therefore, it’s natural for me to think of analogies from table tennis that apply to winning the game of investments. Here are three fundamental qualities that you need to win in sports and investments (applicable to many sports but I will stick to table tennis here): 1.
The Irrelevant Investor
APRIL 5, 2024
Seven years ago I wrote a post about why negative catalysts are a million times easier to identify than positive ones: “Bad news smashes your face against an amplifier, while good news just plays quietly in the background.” Artificial intelligence, is one of the rare cases, like the internet before it, that opens up doors that where there were only walls, to quote Joseph Campbell.
The Better Letter
APRIL 5, 2024
Daniel Kahneman died recently at age 90. He lived a remarkable life. As a child, he escaped the Nazis in France with his family before moving to Israel. After graduate school in the United States, he became an eminent scientist, eventually winning a Nobel Prize and the Presidential Medal of Freedom for his founding work in behavioral economics, by which he became the world’s leading authority on human error.
Alpha Architect
APRIL 5, 2024
Studies have found that there is a correlation between stock market downturns and an increase in hospital admissions for mental illness, an increase in domestic violence, deteriorating mental health among retirees, and increased depression rates. How the Stock Market Impacts Investor Mental Health was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
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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.
Random Roger's Retirement Planning
APRIL 5, 2024
Meb Faber interviewed Cliff Asness in a podcast format. There was plenty of great stuff of course, this post covers some points made that stood to me as worth expanding on and exploring. They talked about when a potential investor, the context is a large institutional investor, talks about investing a small amount to see how it does for a while. Both Cliff and Meb agreed that whatever this person has in mind for "does for a while" is going to be too short a timeframe to draw any useful conclusio
Advisor Perspectives
APRIL 5, 2024
The yield on the 10-year note ended April 5, 2024 at 4.39%, the 2-year note ended at 4.73%, and the 30-year at 4.54%.
Trade Brains
APRIL 5, 2024
Fundamental Analysis Of Amber Enterprises: With the rising temperature due to global warming, the requirement of having an air conditioner is increasing by the day. Some are even saying that traditionally, air conditioning was viewed as a luxury commodity but not anymore. One company that is engaged in the manufacturing of Air Conditioners is Amber Enterprise.
Advisor Perspectives
APRIL 5, 2024
The S&P 500 started off the second quarter of 2024 in the red, finishing down 0.95% from last week. The index is currently up 9.73% year to date and has set a new record closing high 22 times so far this year.
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.
MainStreet Financial Planning
APRIL 5, 2024
CCRCs are an all-in-one solution to aging in place for people over 60. Residents start out living independently in their own apartments, duplexes, or single-family homes in the community. As health needs evolve, CCRCs offer a seamless transition to assisted living, memory care, or skilled nursing facilities within the same community. Please visit my earlier post about Understanding CCRCs for all about how CCRCs work and their benefits, etc.
Advisor Perspectives
APRIL 5, 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. March saw a 303,000 increase in total non-farm payrolls and the unemployment fell to 3.8%.
SEI
APRIL 5, 2024
Can inflation settle near 2% on a sustained basis? We are still doubtful. Read SEI's perspectives on the markets, from our Investment Management Unit.
Advisor Perspectives
APRIL 5, 2024
As a retirement economist — not to be confused with a retired economist, which are rare — I often find myself talking to Wall Street types who happen to be in charge of a lot of other people’s money.
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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.
Validea
APRIL 5, 2024
The NASDAQ 100 has performed exceptionally well over the past decade, driven by the strong performance of technology companies that make up a significant portion of its holdings. The index is comprised of the top 100 largest non-financial stocks listed on the NASDAQ stock exchange. Looking at a 10-year chart of the NASDAQ 100’s performance against the S&P 500 is all you need to do to understand just how well it has performed.
Advisor Perspectives
APRIL 5, 2024
The moving average for vehicle sales per capita series peaked in August 1978. Fast forward 45 years, it is now down 38.5% from that peak.
Sara Grillo
APRIL 5, 2024
Question from a subscriber: “I’d like to be funny but being a financial advisor is a serious job. I’m scared to lose credibility.” Agree. I wouldn’t want my heart surgeon trying to make me crack up, either. But there are certain stages in the process of earning a client’s trust where a leeeetle financial advisor humor can be a huge asset.
Advisor Perspectives
APRIL 5, 2024
The latest employment report showed 303,000 jobs were added in March, surpassing the expected addition of 212,000 new jobs. Meanwhile, the unemployment rate fell to 3.8%.
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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