The Big Picture
NOVEMBER 1, 2023
Everybody is waiting with baited breath for today’s 2:30 announcement about the rates, but let me spare you the suspense: They are done with rate hikes this cycle. The next change in rates is more likely to be down than up. At least, if Powell & Company truly had a handle on what has been driving inflation for the past few years, that would be their position.
Abnormal Returns
NOVEMBER 1, 2023
Podcast Noah Kagan talks with Morgan Housel author of "Same as Ever: A Guide to What Never Changes." (noahkagan.com) Peter Lazaroff on how to research a firm using it's Form ADV. (peterlazaroff.com) Khe Hy talks with Sarah Chappell about the challenges of walking away from good money. (podcasts.apple.com) Dan Haylett talks with Mike Drak about better retirement lifestyle design.
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Nerd's Eye View
NOVEMBER 1, 2023
There are many tax planning strategies that allow financial advisors to demonstrate the ongoing value they provide to clients in exchange for the fees they charge. Part of this value is understanding the detailed nuances that make a strategy effective and implementing it correctly, avoiding issues with the IRS down the line. For instance, while backdoor Roth conversions are a well-known strategy, many individuals have either missed the opportunity to use it and/or implemented it incorrectly R
Abnormal Returns
NOVEMBER 1, 2023
October 2023 The returns to major asset classes in October 2023. (capitalspectator.com) The S&P 500 was returned -2.10% in October 2023, which outperformed. (on.spdji.com) Rates The Treasury market has become the hot new market. (bloomberg.com) Muni bond issuance has slowed to a crawl. (finance.yahoo.com) TIPS are looking ever more attractive. (etf.com) Companies Retailers are blaming organized theft as an excuse to close stores.
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Calculated Risk
NOVEMBER 1, 2023
From the Census Bureau reported that overall construction spending increased: Construction spending during September 2023 was estimated at a seasonally adjusted annual rate of $1,996.5 billion, 0.4 percent above the revised August estimate of $1,988.3 billion. emphasis added Both private and public spending increased: Spending on private construction was at a seasonally adjusted annual rate of $1,555.9 billion, 0.4 percent above the revised August estimate of $1,549.6 billion.
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The Irrelevant Investor
NOVEMBER 1, 2023
Leading Economic Indicators have been warning us of a recession for a long time. They’ve been negative on a year-over-year basis for 15 straight months, which is the second-longest streak of negative readings. Despite all the warnings and despite the Fed trying to slow the economy, it continues to march on: The unemployment rate has been below 4% for twenty straight months.
Wealth Management
NOVEMBER 1, 2023
The deal represents the latest example of Choreo partnering with a CPA firm that owns an RIA firm.
Advisor Perspectives
NOVEMBER 1, 2023
Quick take : At the end of October, t he inflation-adjusted S&P 500 index price was 118% above its long-term trend, down from September. About the only certainty in the stock market is that, over the long haul, over-performance turns into underperformance and vice versa. Is there a pattern to this movement? Let's apply some simple regression analysis to the question.
Wealth Management
NOVEMBER 1, 2023
Effective later this year, FCASH will be the only sweep account option for all new, non-retirement brokerage accounts opened by custody clients.
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.
Trade Brains
NOVEMBER 1, 2023
10 Best Stocks With Over 1000% Returns : Over the last few years, India has witnessed a remarkable transformation in its economic landscape under the leadership of Prime Minister Narendra Modi. His government’s pro-business policies, regulatory reforms, and commitment to bolstering the nation’s financial markets have generated a surge in investor interest and confidence.
Wealth Management
NOVEMBER 1, 2023
Twelve questions to stimulate interest.
Discipline Funds
NOVEMBER 1, 2023
The Fed has raised rates at an unprecedented pace in the last 18 months. And while it seems like they’ve been raising rates for a long time the reality is that they were playing catch up for those first 12 months and policy finally started getting tight in the last 6 months. This can be best visualized in this chart which is a rough approximation of how loose/tight the Fed has been over the last few years.
Wealth Management
NOVEMBER 1, 2023
The rules on using email with encryption in certain instances also were updated.
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
Clever Girl Finance
NOVEMBER 1, 2023
What is credit, how does credit work, and why is it important? When it comes to making big purchases like buying a home or financing a business, knowing and understanding your credit is super important! Find out all you need to know about credit here! Table of contents What is credit and what makes up your score? Two types of credit How your credit score is calculated Expert tip: Credit isn’t everything Key tips to build and maintain your credit 3 Common credit myths What is a simple defin
Wealth Management
NOVEMBER 1, 2023
Open, honest and candid discussions about the latest news in the RPA industry.
Alpha Architect
NOVEMBER 1, 2023
In this episode host Belle Osvath, CFP® talks with Doug Pugliese who is the Head of 1042 QRP Strategies at Alpha Architect. They discuss 1042 exchanges which allow the owner of a closely held C-Corp to sell their equity to an employee stock purchase plan and defer long-term capital gains as long as they rollover the proceeds into a qualified investment.
Wealth Management
NOVEMBER 1, 2023
Some financial planners are recommending clients buy the largest cryptocurrency — in moderation.
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
NOVEMBER 1, 2023
Today’s Animal Spirits is brought to you by Kaplan Schweser: See here to save 10% on Kaplan Schweser CFA exam prep materials On today’s show, we discuss: Gross Domestic Product, third quarter 2023 estimate The U.S. Economy is booming (for now). What does it mean? The American boom GDPNow – Federal Reserve of Atlanta Auto loan delinquencies: What do they really mean?
Calculated Risk
NOVEMBER 1, 2023
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 2.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 27, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.1 percent on a seasonally adjusted basis from one week earlier.
Meb Faber Research
NOVEMBER 1, 2023
Episode #506: Radio Show with Corey Hoffstein: Roaring Kitty, Bitcoin ETF & T-Bill and Chill Guest: Corey Hoffstein is co-founder and chief investment officer of Newfound Research, which offers a full suite of tactically risk-managed ETF portfolios. Date Recorded: 10/25/2023 | Run-Time: 1:30:20 Summary: In today’s episode, Meb & Corey talk about whether topics are overhyped […] The post Episode #506: Radio Show with Corey Hoffstein: Roaring Kitty, Bitcoin ETF & T-Bill a
Calculated Risk
NOVEMBER 1, 2023
Fed Chair Powell press conference video here or on YouTube here , starting at 2:30 PM ET. FOMC Statement: Recent indicators suggest that economic activity expanded at a strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient.
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.
Random Roger's Retirement Planning
NOVEMBER 1, 2023
Bloomberg had an editorial board piece about the dire state of Social Security along with a couple of ideas about how to solve the problem. There wasn't necessarily anything new for people who've been following this for a while but somehow they managed to make their version of the story more ominous. Reading these sorts of things it is natural to take the information through the lens of your own circumstance which is where I start to think about it.
Calculated Risk
NOVEMBER 1, 2023
From ADP: ADP National Employment Report: Private Sector Employment Increased by 113,000 Jobs in October; Annual Pay was Up 5.7% Private sector employment increased by 113,000 jobs in October and annual pay was up 5.7 percent year-over-year, according to the October ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”).
Wealth Management
NOVEMBER 1, 2023
Since 2018, state and local-government debt has gained in November.
Calculated Risk
NOVEMBER 1, 2023
From the BLS: Job Openings and Labor Turnover Summary The number of job openings changed little at 9.6 million on the last business day of September, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations changed little at 5.9 million and 5.5 million, respectively. Within separations, quits (3.7 million) and layoffs and discharges (1.5 million) changed little. emphasis added The following graph shows job openings (black line), hires (dark bl
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.
Wealth Management
NOVEMBER 1, 2023
Experts say unconventional routes to homeownership exist for those that have the right setup and an openness to creativity.
Advisor Perspectives
NOVEMBER 1, 2023
Here is the latest update of a popular market valuation method, Price-to-Earnings (P/E) ratio, using the most recent Standard & Poor's "as reported" earnings and earnings estimates, and the index monthly average of daily closes for the past month. The latest trailing twelve months (TTM) P/E ratio is 22.1 and the latest P/E10 ratio is 28.7.
Wealth Management
NOVEMBER 1, 2023
The president of Merit Financial Advisors discusses the the importance of cultivating top talent and creating a strong company culture.
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