Thu.Dec 05, 2024

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Remembering Art Cashin

The Big Picture

We lost one of the greats this week: Art Cashin passed away Sunday at the age of 83. CNBC’s Bob Pisani did a wonderful remembrance of Art: “In the intensely competitive and often vicious world of stock market commentary, Cashin was that rarest of creatures: a man respected by all, bulls and bears, liberals and conservatives alike.” It made me want to share a few of my favorite Art Cashin stories… I first met Art when I was a newbie strategist in the 2000s.

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Thursday links: a brutal truth

Abnormal Returns

Strategy Diversification still matters. (novelinvestor.com) How to combat confirmation bias. (safalniveshak.com) Art Cashin Art Cashin was one of a kind. (ritholtz.com) A remembrance of Art Cashin. (jaywoods.substack.com) Companies Dollar stores have had a rough 2024. (sherwood.news) Palantir ($PLTR) did not. (axios.com) Fund management BlackRock ($BLK) will soon oversee almost $600 billion of alternative assets.

Retail 182
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Trade Deficit decreased to $73.8 Billion in October

Calculated Risk

The Census Bureau and the Bureau of Economic Analysis reported : The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $73.8 billion in October , down $10.0 billion from $83.8 billion in September, revised. October exports were $265.7 billion, $4.3 billion less than September exports.

Economics 147
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Ten Best Books of 2024 for Financial Advisors

Wealth Management

Memoirs dominate the best business books of 2024 for financial advisors.

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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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How a Donor-Advised Fund Can Help Your Charitable Giving

Carson Wealth

Giving is an important part of our society. It provides us the opportunity to support causes we believe in and make a positive impact. Keep in mind, giving isn’t always about donating money. It can also include volunteering time or donating goods and resources. Here are some examples of the impact: 1 In 2023, Americans donated $557.16 billion, 67% of this giving was attributed to individuals.

Taxes 112
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A Summary of the U.S. ETF Launches in November 2024

Wealth Management

The pace of ETF launches dipped slightly in November, with just shy of 50 new funds entering the market.

Marketing 266

More Trending

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Focused on the Future: Aligning Wealth with Purpose with Jon Jones

Wealth Management

Brighton Jones’ Jon Jones details how the firm’s client-centric, holistic approach has propelled the firm's growth.

Clients 261
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Weekly Initial Unemployment Claims Increase to 224,000

Calculated Risk

The DOL reported : In the week ending November 30, the advance figure for seasonally adjusted initial claims was 224,000 , an increase of 9,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 213,000 to 215,000. The 4-week moving average was 218,250, an increase of 750 from the previous week's revised average.

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Recently Launched RIA Opens New York Office

Wealth Management

Serenus Wealth Advisors, a $1.2 billion RIA launched in July, has brought on Graham K. Mandl, a former Certuity exec, to anchor its New York office.

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Why Most Investors Won’t Buy the Best Diversifier | Andrew Beer on Managed Futures

Validea

In this episode of Excess Returns, hosts Justin and Jack sit down with Andrew Beer of Dynamic Beta Investments to explore the fascinating world of managed futures and alternative investment strategies. Andrew, who manages over a billion dollars in assets, shares valuable insights on why managed futures remain underutilized despite their proven benefits for portfolio diversification.

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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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Former Envestnet Executive Joins Orion To Lead Strategy

Wealth Management

Longtime industry analyst Chris Shutler joins Orion as head of strategy from competitor Envestnet.

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Refreshed Find a Financial Professional Search Directory Connects Consumers and NAIFA Members

NAIFA Advisor Today

NAIFA, the leading association of financial professionals in the United States, has revitalized its Find a Financial Service Professional search directory to provide consumers with easy access to the highly skilled, experienced professionals who subscribe to NAIFA’s Code of Ethics. The tool is located on lifehappens.org , the consumer-facing website of NAIFA’s Life Happens community.

Ethics 52
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Mutual Fund Stalwart MFS Takes First Active ETFs Live

Wealth Management

The asset manager credited with launching the first mutual fund a century ago has remained a holdout in the ETF space until now.

Assets 245
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Unemployment Claims Up 9K, Worse Than Expected

Advisor Perspectives

In the week ending November 30th, initial jobless claims were at a seasonally adjusted level of 224,000. This represents an increase of 9,000 from the previous week's figure and is worse than forecasts for 215,000.

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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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The Importance of Financial Education from Childhood: A Gift for Future Generations

International College of Financial Planning

Introduction On November 14th, as we honor Children’s Day in remembrance of Pandit Jawaharlal Nehru’s birthday, we consider how to prepare the next generation for a promising future. Typically, Children’s Day is celebrated with joy, learning, and the immense potential that each child holds. In todays swiftly changing financial landscape, one of the best gifts we can offer our children is the insight and abilities needed to manage their finances well.

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How Much Cash Is Really on the Sidelines?

Advisor Perspectives

Dan Suzuki analyzes current and historical trends in investors' stock, bond, and cash holdings to assess whether this "cash on the sidelines" narrative could be a valid catalyst for pushing the stock market to new highs.

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The Diamond Podcast for Financial Advisors: $940B Hamilton Lane on the Changing Face of Private Markets

Wealth Management

Steve Brennan, managing director and head of private wealth solutions at Hamilton Lane, discusses how democratized access to private markets has helped foster growth beyond the warehouses, the impact on an advisor's business and more.

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Emerging Currencies Hold Gains After Powell While Won Rebounds

Advisor Perspectives

Emerging-market currencies held gains after Federal Reserve Chair Jerome Powell said policymakers could move cautiously as they lower interest rates. The South Korean won rebounded on Wednesday as President Yoon Suk Yeol rapidly reversed his martial law declaration.

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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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Asking Rents Mostly Unchanged Year-over-year

Calculated Risk

Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Another monthly update on rents. Tracking rents is important for understanding the dynamics of the housing market. Slower household formation and increased supply (more multi-family completions) has kept asking rents under pressure. Welcome to the December 2024 Apartment List National Rent Report.

Numbers 272
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This Is Not France’s "Truss" Moment

Advisor Perspectives

Quite a few observers have described the dramatic fall of the Barnier government in France not just as a political crisis but also an economic and financial crisis.

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Longform links: Silicon Valley innovation

Abnormal Returns

Technology It's not clear any CEO could have saved Intel ($INTC). (wsj.com) Can providing LLMs ever become a good business? (calpaterson.com) How the Silicon Valley consensus broke down. (programmablemutter.com) Global Why U.S. productivity is far outpacing the rest of the developed world. (on.ft.com) How weight loss drugs are powering the Danish economy.

Food 147
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Hedge Funds Make MicroStrategy Wall Street’s Hottest Trade

Advisor Perspectives

To sate his multibillion dollar rampant appetite for Bitcoin, Michael Saylor has tapped demand from retail investors transfixed by MicroStrategy Inc.’s more than 500% rally this year. He’s also benefited from hedge funds who care far less where the stock trades.

Retail 52
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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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When Will the “Bill” Come Due?

Advisor Perspectives

A couple of weeks ago, we wrote about how the deficit had come back into focus for the U.S. financial markets.

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The Greatest Scourge in Factorland: Revaluation Alpha = Fake Alpha (JPM Series)

Advisor Perspectives

We are all familiar with this SEC-required warning that “past performance does not predict future performance.

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Q4 2024 Strategy Letter: One More Before Year End

Advisor Perspectives

At the 2018 Berkshire Annual Meeting, Buffett noted that “multiple times in my life, people have felt the country was more divided than ever.

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Rethinking Cash

Advisor Perspectives

Assets in money market funds reached an all-time high of $7 trillion this past month. Now that rates are moving lower, money market yields may not be as attractive to many investors and assets may gradually leave money funds.

Assets 40
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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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$8 Billion for Intel Won’t Fix America’s Chip Problem

Advisor Perspectives

Since its enactment in 2022, the Chips and Science Act — a $280 billion splurge intended to revive US semiconductor manufacturing — has been at best a mixed success. A $7.9 billion grant to Intel Corp., announced by President Joe Biden’s administration last week, shows how this gravy train may be headed off the rails.

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Monthly Global Economic Report

Advisor Perspectives

While the economy helped President Trump win a second term, it also created expectations that could prove difficult to meet.

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Fed’s Powell Expects Good Relations With Trump Administration

Advisor Perspectives

Federal Reserve Chair Jerome Powell downplayed the prospects of tension with the incoming Trump administration and said he expects officials can move cautiously as they continue lowering interest rates.

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Bitcoin Soars Past $100,000 on Trump’s Pro-Crypto Pick for SEC

Advisor Perspectives

President-elect Donald Trump’s pick of a crypto proponent to be the next head of the US securities regulator lifted Bitcoin to $100,000 for the first time as traders warmed to the prospect of relaxed regulations.

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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