Thu.Oct 12, 2023

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The Enshittification of Amazon Continues…

The Big Picture

In August of 2022, I explained how Amazon became ordinary. Today I want to discuss how they have become bad. Since I first discussed the companies that lost my affection during the pandemic nearly two years ago, Amazon continues to stand out as delivering an ever-worsening set of experiences. I wanted to wait until after the (faux retail holiday) Prime Day(s) ended before sharing a few tales of further (to use Cory Doctorow’s phrase) “ Enshittification.” There are many problem

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The Tech Transformation Blueprint

Wealth Management

Lessons learned to help companies avoid missteps when changing their technology stacks.

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Thursday links: the crypto craze

Abnormal Returns

Markets Retail investors love T-bills. (economist.com) You can't attribute changes in yields to any single factor. (economist.com) Finance VC activity is at multi-year lows. (venturebeat.com) Europe has an IPO problem. (ft.com) Facial recognition Like it or not, face search engines are coming. (npr.org) Five insights from "Your Face Belongs to Us: A Secretive Startup’s Quest to End Privacy as We Know It" by Kashmir Hill.

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Active Fund Managers Increased Allocations to Healthcare, Residential and Data Center REITs

Wealth Management

Recent Nareit research looked at actively-managed real estate funds, REIT balance sheets and the state of ESG among publicly-traded real estate investors.

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Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

Speaker: Claire Grosjean

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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Longform links: an inch-deep pool of self-interest

Abnormal Returns

Books Walt Hickey talks with Taylor Lorenz author of "Extremely Online: The Untold Story of Fame, Influence, and Power on the Internet." (numlock.com) A Q&A with Tom Wheeler author of "Techlash: Who Makes the Rules in the Digital Gilded Age?" (vox.com) Annie Duke talks with Jay Van Bavel co-author of "The Power of Us: Harnessing Our Shared Identities to Improve Performance, Increase Cooperation, and Promote Social Harmony.

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Surge Ventures Launches RegTech Company

Wealth Management

Sid Yenamandra's new company, RegVerse, has introduced its first product, Avery, a generative AI regulatory technology.

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More Trending

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More Goldman Sachs PFM Advisors Leave

Wealth Management

Quotient Wealth Partners, a new RIA created by other Goldman PFM defectors, adds more advisors, as does Meridian and Advisors Capital.

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Weekly Initial Unemployment Claims Unchanged at 209,000

Calculated Risk

The DOL reported : In the week ending October 7, the advance figure for seasonally adjusted initial claims was 209,000, unchanged from the previous week's revised level. The previous week's level was revised up by 2,000 from 207,000 to 209,000. The 4-week moving average was 206,250, a decrease of 3,000 from the previous week's revised average. The previous week's average was revised up by 500 from 208,750 to 209,250. emphasis added The following graph shows the 4-week moving average of weekly cl

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WealthManagement EDGE Podcast: Casting a Bold and Impactful Vision with Aisha Hunt

Wealth Management

The founder of law firm Kelley Hunt & Charles discusses legal changes in the way we do business and perspectives on diversity and inclusion.

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YoY Measures of Inflation: Services, Goods and Shelter

Calculated Risk

Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned earlier when services less rent of shelter was up 7.6% year-over-year. This has fallen sharply and is now up 2.8% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through September 2023.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

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.

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What Does NIL Mean for Advisors?

Wealth Management

The program offers advisors a unique opportunity to support student-athletes in understanding and navigating decisions around their new income.

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Cleveland Fed: Median CPI increased 0.5% and Trimmed-mean CPI increased 0.4% in September

Calculated Risk

The Cleveland Fed released the median CPI and the trimmed-mean CPI. According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.5% in September. The 16% trimmed-mean Consumer Price Index increased 0.4% in September. "The median CPI and 16% trimmed-mean CPI are measures of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics’ (BLS) monthly CPI report".

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Mindy Diamond on Independence: $1B Merrill Breakaway Team One Year Later

Wealth Management

The founders of Beverly Hills Private Wealth discuss their motivations to leave Merrill, their transition to independence and experience as one of the first RIAs to choose Goldman Sachs Advisor Solutions as their custodian.

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10 Thursday AM Reads

The Big Picture

My morning train WFH reads: • Here’s What We Do and Don’t Know About the Effects of Remote Work. Three years into a mass workplace experiment, we are beginning to understand more about how work from home is reshaping workers’ lives and the economy. ( New York Times ) • The economy has been strong. Why are economists so eager to predict it will tank?

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

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

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Carefull Raises $16.5M To Expand, Develop New Features to Protect Seniors

Wealth Management

Carefull, the the financial monitoring and collaboration technology, helps families and advisors protect aging seniors.

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What Was the Cost of the COVID Stimulus?

Discipline Funds

Here’s a Tweet (do we still call them Tweets?) from Paul Krugman which is getting a lot of flak. As I noted last month, he’s mostly right, but just explaining this in a bad way. After all, if you strip out most of the things people need in everyday life then yes, inflation is low. Heck, if we just stripped out everything from the index then inflation is 0%.

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Social Security Bump Won’t Calm Retiree Money Worries

Wealth Management

Workers in the US are increasingly concern about potential cuts to Social Security benefits in the coming decade.

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How to Save Money on a Lower Income

A Wealth of Common Sense

Kevin Young joined me again this week to discuss questions ranging from expected returns in corporate bonds, the best month to invest a lump sum, setting up an account to pay for your child’s healthcare costs, where pensions fit into a financial plan and how to allocate assets from life insurance. Further Reading: Income Alpha 13% per year might sound like a lot but that’s an increase of $180 the first year (.

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Book of Secrets on the Month-End Close

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.

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11 Must Reads for Real Estate Investors (Oct. 13, 2023)

Wealth Management

Funds targeting opportunistic and value-add situations are sitting on billions and waiting for deals to materialize, reports Bisnow. Several real estate associations sent a letter to Fed Chair Jerome Powell asking for a stop in rate hikes. These are among the must reads from the real estate investment world to wrap up the week.

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Inflation Since 1872: A Long-Term Look at the CPI

Advisor Perspectives

The Consumer Price Index for Urban Consumers (CPI-U) released for September puts the year-over-year inflation rate at 3.70%. The latest reading keeps inflation below the 3.75% average since the end of the Second World War for the fourth straight month. However, inflation remains above the 10-year moving average which is now at 2.70%.

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BLS: CPI increased 0.4% in September; Core CPI increased 0.3%

Calculated Risk

From the BLS : The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September on a seasonally adjusted basis , after increasing 0.6 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.7 percent before seasonal adjustment. The index for shelter was the largest contributor to the monthly all items increase, accounting for over half of the increase.

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KPIT Technologies Vs Tata Elxsi – Financials, Future Plans & More

Trade Brains

KPIT Technologies Vs Tata Elxsi : Who doesn’t like Nature? The greener the better we feel, breathe, and freshness. Embracing ourselves with nature will benefit our livelihood for good. Climate Change has wreaked havoc across the world and Companies are moving towards a greener future by adopting Solar, Thermal, and Nuclear as a source of energy replacing fossil fuels.

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Stop Falling Short When It Matters Most—The Elite Advisor’s Playbook to Success

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?

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IUL Is a Great Tool for Retaining Key Employees

NAIFA Advisor Today

Are your small and mid-size business clients having trouble attracting and keeping key employees? Jordan Skog , J.D., CLU, ChFC, CFP, Senior Advanced Market Consultant at Allianz Life , has some great ideas for using Indexed Universal Life products in compensation strategies that are uniquely appealing to highly sought key employees.

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WomenCart IPO Review – GMP, Price, Details & More

Trade Brains

WomenCart IPO Review : WomenCart is coming up with its Initial public offering. This is an SME (small and medium-sized enterprise) which is going to be listed on NSE SME. The IPO will be open for subscription on 16th October 2023 and closes on 18th October 2023. This article will provide a comprehensive WomenCart IPO Review, including an in-depth analysis of the company’s financials and the strengths and weaknesses of WomenCart.

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Financial Planning for the Latino Community

Tobias Financial

The Latino community is making significant strides in the U.S. economy, with projections indicating a remarkable growth in purchasing power over the next few years. While this progression is noteworthy, it’s essential to recognize the challenges faced by Latino individuals in achieving financial stability. Despite the positive statistics, disparities in income, workplace discrimination, and lower inheritance rates persist, impacting long-term wealth accumulation.

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Timing The Market Is Hard

Validea

Market timing is extremely difficult, evidenced by Stanley Druckenmiller’s conviction last year to short the dollar, only to be taken aback when the dollar index rose more than 2%. An August report from Morningstar reiterates how hard market timing can be, and shows the wide discrepancy between investment funds’ total returns and the average returns that investors actually receive, cites an article in the Financial Times.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

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.

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Women And Investing: 5 Key Tips For Women Investors

Clever Girl Finance

Women and investing is a topic that doesn’t get mentioned often enough, but it is extremely important. Women’s financial plans are unique, so their investing strategies should be, too. Find out more about women and investing, and discover ideas for creating your own investment plan. Table of contents Why women investors are amazing 5 Tips for how women can invest smartly Expert tip: Don’t rush the investing process Why are women investors important?

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Overseas Destinations to Beat the Cold This Winter

Integrity Financial Planning

Some people can’t stand the cold of winter. They’ll do anything to get away from it. If you are retired and you’re looking for a winter escape, check out these possible destinations. Each one has warmth, beauty, and ample opportunities for relaxation and exploration. Hawaii, USA Hawaii, the tropical paradise of the United States, is an ideal winter getaway for retirees.

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Amazon Strategy Could Unlock $100 Billion in Revenue

Advisor Perspectives

Amazon.com Inc.’s next big thing might be lurking in the expensive supply chain apparatus that’s helped transform its e-commerce business into a juggernaut.

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How To Create A Mindset Of Financial Abundance

Clever Girl Finance

Many of us are guilty of having a scarcity mindset when it comes to money, which holds us back from achieving financial abundance. You might believe that there isn’t enough money to go around or that you have to work extra hard for every penny you earn. But changing your mindset about money can improve your life in huge ways. Table of contents Financial abundance meaning Why is adopting a financial abundance mindset so important?

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.