Fri.Oct 11, 2024

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Q3 GDP Tracking: Around 3%

Calculated Risk

From BofA: Since our last weekly publication, our 3Q GDP tracking estimate is unchanged at 2.6% q/q saar. [Oct 11th estimate] emphasis added From Goldman: We left our Q3 GDP tracking estimate unchanged at +3.2% (quarter-over-quarter annualized) and our Q3 domestic final sales forecast unchanged at +2.8%. [Oct 8th estimate] And from the Atlanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2024 is 3.2 percent on October 9, unch

Sales 288
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Friday links: a cursed star

Abnormal Returns

Finance JP Morgan Chase ($JPM) says the consumer is in good shape. (sherwood.news) One company's loss is another's gain. (ft.com) Biotech IPOs keep happening. (biopharmadive.com) Fund management A closer look at the proposed SPDR SSGA Apollo IG Public & Private Credit ETF. (citywire.com) Blackrock ($BLK) now manages some $11.5 trillion. (s24.q4cdn.com) AI How Flexport is using AI.

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Part 1: Current State of the Housing Market; Overview for mid-October 2024

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-October 2024 A brief excerpt: This 2-part overview for mid-October provides a snapshot of the current housing market. I always focus first on inventory, since inventory usually tells the tale ! And currently inventory is increasing year-over-year but is still well below pre-pandemic levels.

Marketing 278
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Podcast links: hedge fund math

Abnormal Returns

Listening Google's NotebookLM is a game-changer. (wsj.com) How 'Smartless' became a big and growing business. (nytimes.com) Venture capital Patrick O'Shaughnessy talks with Kareem Zaki who is a General Partner at Thrive Capital. (joincolossus.com) Barry Ritholtz talks with Joe Lonsdale of 8VC. (bloomberg.com) Rick Buhrman and Paul Busser talk with Ravi Gupta who is a partner at Sequoia Capital.

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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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AlTi Tiedemann: Operating an RIA in the Public Markets

Wealth Management

AlTi’s CEO Michael Tiedemann says his firm raised a “whopping $980,000” going public via SPAC, but it created a permanent path for the business.

Marketing 272
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Weekend Reading For Financial Planners (October 12–13)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a CFP Board ad campaign promoting a career in financial planning to high school and college students sparked an uproar in the planning community, as some advisors questioned whether the messages being sent in the ads – in particular, certain static ads that did not provide as much context into the messaging as a series of 15-second video ads – realistically rep

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MiB: Joe Lonsdale of 8VC, Palantir, Adapar & Opto

The Big Picture

Live from FutureProof in Huntington Beach, California, Barry Ritholtz speaks with Joe Lonsdale of 8VC. Previously, he co-founded Palantir Technologies , founded Adapar , a wealth management platform, and Opto , a private market investment platform. In this episode, Lonsdale discusses the importance of technology in various sectors, the need for innovation in defense, and the potential of AI to transform the services industry.

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The WealthStack Podcast: Harnessing the Power of Testimonials for Business Growth with Andrew Johnson of Testimonial IQ

Wealth Management

Testimonial IQ's co-founder and CEO explains why financial advisors should care about Google reviews, the role of compliance and more.

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Realtor.com Reports Active Inventory Up 30.5% YoY

Calculated Risk

What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For September, Realtor.com reported inventory was up 34.0% YoY, but still down 23.2% compared to the 2017 to 2019 same month levels. Now - on a weekly basis - inventory is up 30.5% YoY.

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Q&A: Smarsh's CEO on the Role of AI in Communications Compliance

Wealth Management

Our tech columnist discusses AI and compliance with the chief executive of one of the industry’s largest providers of communications compliance technology.

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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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The Sahm Rule as a Recession Indicator

Alpha Architect

Because the Sahm rule focuses solely on the unemployment rate, caution is warranted before assuming it is signaling a recession. The Sahm Rule as a Recession Indicator was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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Clearing Firms Must Be Leaders in Improving Technology, Customer Experience

Wealth Management

Technology enables better human interactions; it does not replace them, writes the head of Axos Clearing.

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Producer Price Index: Wholesale Inflation Held Steady in September

Advisor Perspectives

Wholesale inflation was unchanged last month, compared to expectations of a 0.1% increase. The producer price index for final demand was flat month-over-month (s.a.). On an annual basis, headline PPI decelerated from 1.9% in August to 1.8% in September.

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RIA Leaders: To Find Talent, Look Outside the Norm

Wealth Management

Two leaders with different career paths, but a common theme: Joining principals who gave them the latitude to make an impact.

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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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Will Grasim’s Entry into the Paint Business Impact Asian Paints?

Trade Brains

The Indian paint industry is rapidly growing, driven by rising urbanization and increased disposable incomes. Stiff competition among key players has made the market highly dynamic. Asian Paints, the industry leader, continues to dominate with its strong brand presence and extensive distribution network. Kansai Nerolac and Berger Paints also hold significant market shares, offering various decorative and industrial paints.

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BlackRock Hits $11.5T With Push into Private Markets

Wealth Management

BlackRock has pulled in $360 billion of total net inflows so far this year, surpassing the full-year net flows of 2022 and 2023.

Marketing 233
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High Earner Not Yet Rich

A Wealth of Common Sense

A study from Cambridge University trained monkeys to expect either 2 or 20 liquid treats for completing certain tasks. Think of these rewards as income earned for doing their job. Once those baseline expectations were set, the researchers would unexpectedly give them 4 (instead of 2) or 40 (instead of 20) reward units. The crazy thing is the magnitude of the increase in reward didn’t matter — the dopamine rele.

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Ex-UBS CEO Ralph Hamers Joins Former Googlers’ AI Wealth Firm

Wealth Management

Hamers, 58, is an external senior adviser at Arta Finance, a digital-wealth platform leveraging artificial intelligence in an attempt to bring family office-style investing to the masses.

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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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The IPO Slump Is Fine Unless You’re Jamie Dimon

Advisor Perspectives

Two senior Wall Street executives complained this week that over-regulation is discouraging initial public offerings. JPMorgan Chase & Co. CEO Jamie Dimon partly blamed the zeal of securities regulators for the drop in IPOs that began in March 2022, a sentiment echoed by Citadel Securities CEO Peng Zhao.

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Investment needs to be boring

Truemind Capital

If you seek excitement from your investment portfolio, you are doing it wrong. One of my clients recently asked “Why don’t we invest in hot themes like AI, defense, and other growth stocks? Why only value-focused portfolios?” I asked, “Why do you think we should invest in these hot themes?” He said “I feel we are missing out” Classic – Fear of missing out I told him that his investment portfolio is already generating excellent returns close to thes

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US Credit Draws In Foreign Investors Eying Lower Costs to Hedge

Advisor Perspectives

Foreign investors have been buying more US corporate bonds, a trend that will likely continue as Federal Reserve monetary easing lowers the cost of hedging and investors hunt for yield.

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Facts Vs Feelings Take 5 – Five Things To Look Forward to in the 4th Quarter

Carson Wealth

This week on Take 5, Ryan Detrick, Chief Market Strategist at Carson Group, and Sonu Varghese, VP, Global Macro Strategist at Carson Group, discuss the factors behind the current market strength and provide insights into what lies ahead. Tune in as they analyze: The impact of GDP growth Profit gains The addition of 254,000 new jobs Ways investors can navigate today’s economic landscape And more!

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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.

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Social Security COLA:  2.5% Increase for 2025

Covisum

On October 10, 2024, the Social Security Administration (SSA) declared a 2.5 percent increase in the monthly Social Security benefits. This Cost of Living Adjustment (COLA) is aimed at preserving the purchasing power of Social Security and Supplemental Security Income benefits against inflation.

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Uncompensated Complexity

Random Roger's Retirement Planning

Eric Crittenden sat for the Algorithmic Advantage podcast , it was about an hour and twenty minutes and covered a lot of ground. Crittenden manages the Standpoint Multi-Asset Fund (BLNDX/REMIX) which I've owned personally and for clients pretty much since the fund listed. There were some great points made to share and explore. The first point is that I think he validated a point I've been making for many years about managed futures and the importance of T-bill yields to the funds in the space.

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Ask Wealthfront: What Do I Need To Know About the Yield Curve?

Wealthfront

Welcome to our Ask Wealthfront series, where we tackle your questions about personal finance and investing. Want to see your question answered here? Reach out to us on social media and we’ll try to address it in a future column. What do I actually need to know about the yield curve? You’ve probably seen the […] The post Ask Wealthfront: What Do I Need To Know About the Yield Curve?

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Market Update – Q3 2024

ModernAdvisor

Market Update All index returns are total return (includes reinvestment of dividends) and are in Canadian Dollars unless noted. Sources: *Sources: MSCI, FTSE, TMX, S&P The third quarter of 2024 was an uncharacteristically strong one, with most equity and fixed income markets producing strong returns. The third quarter is historically the weakest quarter of the year, with September being the […] The post Market Update – Q3 2024 appeared first on ModernAdvisor Blog.

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Fall In Love With the Month-End Close

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.

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S&P 500 Snapshot: Record Rally Rolls On

Advisor Perspectives

The S&P 500 finished the week ending October 11 with another record-breaking rally, up 0.97% from last Friday. The index just notched a new all-time closing high and is now up 22.61% year-to-date.

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Top Benjamin Graham Stocks – October 2024

Validea

Validea’s Ben Graham strategy is based on the value investing approach pioneered by Benjamin Graham, often called the “Father of Value Investing” This strategy aims to identify undervalued stocks by focusing on companies with strong financial positions and consistent earnings. The approach uses strict criteria to select stocks, emphasizing safety and value over growth potential.

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US Elections: How the Presidential Candidates Stand on Taxes

Advisor Perspectives

Taxes are top of mind for many. See what the US presidential candidates stand on tax policy as we enter the final weeks before the election. Our Bill Cass compares their plans.

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4 Things to Review During Open Enrollment

MainStreet Financial Planning

It’s that time of year again—Open Enrollment season! This is your opportunity to review and update your benefit elections, which can include health insurance and other employer-provided options. Here are four key categories to review during your open enrollment this year: 1. Healthcare Open enrollment is an excellent time to reassess your healthcare needs for the upcoming year.

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The Future Of Finance: How To Manage Spend The Right Way

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