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This week, I speak with author and financial journalist Michael Lewis. Michael has written countless New York Times bestsellers including Flash Boys and Going Infinite. His book The Big Short was turned into an Oscar-winning film, alongside his Oscar-nominated books-turned films The Blind Side and Moneyball. We breakdown the ins and outs of government and his latest book “ Who is Government: The Untold Story of Public Service.” A transcript of our conversation is available here Tuesd
The BEA released the Personal Income and Outlays report for February: Personal income increased $194.7 billion (0.8 percent at a monthly rate) in February , according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)personal income less personal current taxesincreased $191.6 billion (0.9 percent) and personal consumption expenditures (PCE) increased $87.8 billion (0.4 percent).
Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through February 2025. CPI Shelter was up 4.2% year-over-year in February , down from 4.4% in January, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 4.3% YoY in February , down from 4.5% in January and down from the cycle peak of 8.3% in April 2023.
Despite the platforms boasts, what it is launching is not any different than other custodians, and advisors shouldnt be threatened, industry observers say.
Strategy Leveraged and inverse ETFs can help magnify your mistakes. (wsj.com) Are public markets now a dumping ground for marginal companies? (on.ft.com) Fraud Nikola founder Trevor Milton, whose attorney is the brother of the attorney general, just received a pardon for securities fraud. (wsj.com) Easier rules on crypto, means easier money laundering.
First-generation RIA owners like those at CGN Advisors increasingly use synthetic or phantom equity structures to give employees access to a firms growth while deferring actual ownership.
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First-generation RIA owners like those at CGN Advisors increasingly use synthetic or phantom equity structures to give employees access to a firms growth while deferring actual ownership.
Listening Peter Kafka talks the business of podcasting with PJ Vogt of Search Engine fame. (podcasts.apple.com) Nilay Patel talks AI and music with Kakul Srivastava, CEO of music creation platform Splice. (theverge.com) Business David Rosenthal and Benjamin Gilbert take a deep dive into the Indian Premier Cricket League. (acquired.fm) David Senra discusses lessons from Raising Crane's Founder Todd Graves.
Commissioner Caroline Crenshaw said the other commissioners were hoping to let someone else do their dirty work. Acting Chair Mark Uyeda said the move ended the agencys involvement in the defense of the costly and unnecessarily intrusive rule.
The Economist has a good piece about the growing importance of the stock market on household balance sheets. Here’s the chart that matters: By the end of 2024, Americans owned stocks worth 170% of disposable income which is back at record levels and much higher than in previous decades. The worry here is that a sustained drop in stock prices could eventually have an impact on the real economy.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
ETF.com asked a provocative question. Are Financial Advisors Lazy To Recommend Active ETFs ? It was a thin article that came down to advisors knowing their limitations which is of course useful for anyone in any of their endeavors. Also noted was what the world looked like 30 years ago when the author worked as an advisor. There were just a couple of ETFs, some index mutual funds but the landscape was dominated by old style active mutual funds.
John Peluso, who led the creation of Wells Fargos RIA fee-only advisor program, is spearheading Thurston Springers exchange, which includes discounts in areas such as marketing and succession planning.
Here are some things I think I am thinking about this weekend. 1) GDP Now – Still Going Down. When the Atlanta Fed’s GDP Now crashed down to -2.8% back in February a lot of us looked at the data and said “this doesn’t add up” It had to adjust upwards for some reason because the data was being skewed by trade data that wasn’t yet adjusted for other factors.
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
Portfolio Managers John Kerschner, Nick Childs, and Jessica Shill discuss the AAA CLO ETF landscape and highlight the most important considerations for investors.
You know the power of a positive first impression. And prospects initial impression of your company is typically based on your website. Particularly for financial advisors, website design quality is of utmost importanceits a digital showroom of what your company can offer to the individuals and families who will trust you with their hard-earned wealth.
Quality stocks serve as anchors in turbulent markets, offering resilience when economic uncertainty exposes weaker companies. These exceptional businesses consistently deliver earnings growth, maintain robust balance sheets, and possess enduring competitive advantages that sustain high capital returns during challenging periods. Investors who prioritize financial strength and operational excellence can build portfolios that both withstand market volatility and steadily compound wealth over time.
The independent brokerage insurance agency promotes NAIFA membership and grassroots participation while its advisors enjoy the benefits of NAIFA membership. The National Association of Insurance and Financial Advisors (NAIFA) and E4 Insurance Services (E4IS) have increased an educational partnership agreement, under which E4IS will promote membership in NAIFA to E4IS-affiliated agents and advisors and provide thought leadership to the NAIFA membership.
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.
Momentum investing captures sustained price trends by focusing on stocks with strong relative strength that consistently outperform. This strategy leverages market inefficiencies created by earnings surprises, institutional buying, and the gradual spread of positive information. Validea’s models enhance traditional momentum indicators with quantitative criteria from successful investors, screening for both price momentum and improving fundamentals like earnings growth and margin expansion.
Major players are acquiring independent broker dealers with increased frequency, leaving advisors caught up in these sales to wonder what the impact will be on their business. Here are four actions to take to find out. As an independent advisor whose broker dealer was just sold, no doubt the news can be unsettling. Because whether youre content at your current broker dealer or not, an acquisition means that change is comingand no one really likes change.
Recent findings from a McKinsey & Company study highlight a critical need for more financial professionals in the United States. As more Americans grow their wealth and look for financial guidance, the industry is confronted with a projected shortfall of up to 100,000 financial professionals by 2034. Increased reliance on personal savings for retirement, complex financial products, and rising client expectations all contribute to a growing demand thats outpacing supply.
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?
Welcome back to Carsons Take Five with Ryan Detrick, Chief Market Strategist at Carson Group, and Sonu Varghese, VP, Global Macro Strategist at Carson Group! In this episode of Carsons Take Five, we bring a mix of global macro insights with on-the-ground observations from Istanbul. While discussing the current economic turbulence from a significant currency decline and stock market crash in Turkey to soaring interest ratesthe conversation shifts into broader market sentiments and upcoming opport
A Columbia University student recently shone a light on a disturbing corner of today’s job market. Roy Lee, 21, was fed up with the antiquated way that large tech firms were testing job candidates with computer coding riddles you had to memorize, so he created a tool that his peers could use to beat the system.
You see, theres an important reason why every corporation has a chief financial officer on staff. The president and key executives, and the board of directors, need to be able to rely on somebody who understands the financials at a deep level, somebody who can keep them fully informed of the financial situation, and the trends, what the company can afford and when its able to take risks.
If you log onto Chinese social media these days, you may encounter many young people expressing the “involution” or neijuan mentality. It’s become a buzzword for a generation of college students and recent graduates beaten down by society’s relentless competition, and roughly translates to rolling inwards.
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.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent survey indicates that 70% of affluent financial advisory clients who believe their advisor is always obligated to act as a fiduciary indicated they are satisfied with their relationship and aren't seeking out a new advisor, while only 41% of clients who believe their advisor may put their own interests first indicated they are satisfied with their relationship.
UPDATE: Updated Goldman tracking this morning. From BofA: 1Q GDP tracking is down from our recently updated official forecast of 1.5% q/q saar to 1.0% q/q saar. [Mar 28th estimate] emphasis added From Goldman: We lowered our Q1 GDP tracking estimate by 0.4pp to +0.6% (quarter-over-quarter annualized). [Mar 28th estimate] And from the Atlanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 is -2.8 percent on March 28, down f
Long-maturity Treasury yields reached the highest levels in a month Thursday as investors demand compensation for the risk that tariffs will spur US inflation.
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.
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