Abnormal Returns

NOVEMBER 30, 2023

Charlie Munger Jason Zweig, "More than almost anyone I’ve ever known, Munger also possessed what philosophers call epistemic humility: a profound sense of how little anyone can know and how important it is to open and change your mind." (wsj.com) Berkshire Hathaway ($BRK.A) shareholders need to closely contemplate a post-Buffett era. (morningstar.com) Some more Charlie Munger quotes including 'In my whole life, I have known no wise people who didn’t read all the time — none, zero.

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Financial Advising Portfolio Management Media Economics 278

The Big Picture

NOVEMBER 30, 2023

My morning train WFH reads: • Owners Keep Zombie Malls Alive Even When Towns Want to Pull the Plug : Aging malls often take a long time to expire, but they can remain valuable assets. ( Wall Street Journal ) • A strange, short journey through Shein’s world : The fast fashion brand has been trying to drop the secrecy around its business model and supply chain.

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Education Assets Economics Numbers 265

Abnormal Returns

NOVEMBER 30, 2023

Books A Q&A with Michele Gelfand author of "Rule Makers Rule Breakers: How Tight and Loose Cultures Wire Our World." (behavioralscientist.org) An excerpt from "The Bill Gates Problem: Reckoning with the Myth of the Good Billionaire" by Tim Schwab. (nextbigideaclub.com) A Q&A with Jay Owens author of "Dust: The Modern World in a Trillion Particles.

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Wealth Management

NOVEMBER 30, 2023

California-based accounting firm Windes will leverage Integrated Partners’ platform to provide more comprehensive services for complex clients through a new wealth management practice.

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Wealth Management Accounting Clients Management 130

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Accounting

A Wealth of Common Sense

NOVEMBER 30, 2023

A reader asks: I’m finding it incredibly hard to invest my excess cash, even in my kids’ college funds, with the S&P 500 closing in on new highs. Objectively, I know I’m supposed to just grit my teeth and invest, not try to predict the market, take comfort in knowing that time-in-the-market is biggest factor in my long-term investment success…but IT IS SO DAMN HARD for me to do it psychological.

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Portfolio Investing Investments Marketing 120

Calculated Risk

NOVEMBER 30, 2023

Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased in October to New High; Up 6.0% Year-over-year A brief excerpt: On a year-over-year basis, the National FMHPI was up 6.0% in October , from up 5.1% YoY in September. The YoY increase peaked at 19.1% in July 2021, and for this cycle, bottomed at up 0.9% in April 2023.

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Wealth Management

NOVEMBER 30, 2023

While the technology will be used to identify patterns in large data sets, it will not be used to automatically initiate any trading on its own.

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Investing Investments 121

Calculated Risk

NOVEMBER 30, 2023

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 October 2023. CPI Shelter was up 6.7% year-over-year in October, down from 7.1% in September, and down from the cycle peak of 8.2% in March 2023. Housing (PCE) was up 6.9% YoY in October , down from 7.2% in September, and down from the cycle peak of 8.3% in April 2023.

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Wealth Management

NOVEMBER 30, 2023

Savvy snaps up Schwab advisor, LaSalle St. adds former Atria OSJ, Perigon Wealth buys Vegas shop and other news from Modern Wealth, Freestone Capital and Thurston Springer.

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Management 119

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.

Assets

Advisor Perspectives

NOVEMBER 30, 2023

The latest Chicago Purchasing Manager's Index (Chicago Business Barometer) jumped to 55.8 in November from 44.0 in October, marking the highest level in the past 17 months. The latest reading is better than the 45.4 forecast and pushes the index into expansion territory for the first time in 15 months.

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Management 111

Wealth Management

NOVEMBER 30, 2023

Abacus Life is betting big on its longevity- and lifespan-based approach to financial planning.

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Financial Planning Planning 119

Trade Brains

NOVEMBER 30, 2023

Best NBFC Stocks in India : Non-Banking Financial Institutions or NBFCs for short are Companies that almost function like a bank. They are free to lend to the public as well as borrow from the financial markets. However, when it comes to borrowing, a Bank is allowed to accept deposits from the public, whereas an NBFC cannot. NBFCs tend to be smaller in size as compared to banks, but they can have their specific niches, like a specific segment that they would lend to.

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Financial Services Banking Assets Management 105

Wealth Management

NOVEMBER 30, 2023

Advisory firms planning multiple mergers need a standardized system.

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Planning 116

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

Management

AdvicePay

NOVEMBER 30, 2023

Efficient. Compliant. Secure. In today's increasingly digital world, financial transactions and data are constantly at risk from cyber threats. The wealth management industry, in particular, must be vigilant when it comes to safeguarding sensitive client information and ensuring secure payment processing. AdvicePay has taken this challenge head-on. We’ve designed the AdvicePay system to maximize data security at every level of our payment processing.

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Wealth Management Clients Management Sales 80

Wealth Management

NOVEMBER 30, 2023

The $24 billion Grayscale Bitcoin Trust (GBTC) is currently trading at a roughly 8% discount to its underlying Bitcoin holdings, the narrowest dislocation in over two years.

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Million Dollar Round Table (MDRT)

NOVEMBER 30, 2023

By Bryce Sanders If you are active in the community, you are going to find yourself networking at an event where you do not know anyone in the room. This can be scary, especially if you think they are all older and richer than you. Meeting people can be a lot easier than you think though. These networking events might be a museum reception, a donor recognition event at the hospital or the cocktail hour at a charity fundraiser.

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Sales Marketing Marketing 77

Wealth Management

NOVEMBER 30, 2023

Matt Celenza returns to the podcast to share an insider perspective on “what he wishes he knew before breaking away”—the good and the bad.

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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.

Accounting

Calculated Risk

NOVEMBER 30, 2023

The DOL reported : In the week ending November 25, the advance figure for seasonally adjusted initial claims was 218,000 , an increase of 7,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 209,000 to 211,000. The 4-week moving average was 220,000, a decrease of 500 from the previous week's revised average.

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Wealth Management

NOVEMBER 30, 2023

Blackstone has raised $2.6 billion for a new vehicle dedicated to real estate secondaries, reports The Wall Street Journal. The FDIC flagged office loans as a potential risk to banks in its latest quarterly report. These are among today’s must reads from around the commercial real estate industry.

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Banking 110

Random Roger's Retirement Planning

NOVEMBER 30, 2023

This post could just as easily titled "so you think you want to be diversified eh?" Well here's one glimpse of what diversification looks like. LOTIX is a managed futures fund that is not in my ownership universe. I use it for blogging purposes because it has been around a long time which allows for decent backtesting. I use a different fund in my practice.

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Management Taxes Portfolio Marketing 74

Wealth Management

NOVEMBER 30, 2023

We are pivoting to cover the wider world of alternatives and how wealth advisors are using these tools in client portfolios.

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Wealth Management Wealth Advisor Management Portfolio 109

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.

Clients

Calculated Risk

NOVEMBER 30, 2023

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Friday: • At 10:00 AM ET, ISM Manufacturing Index for November. The consensus is for 47.7%, up from 46.7%. • Also at 10:00 AM, Construction Spending for October. The consensus is for 0.4% increase in spending. • At 11:00 AM, Discussion, Fed Chair Jerome Powell , Conversation with Spelman College President Helene Gayle , At a Fireside Chat at Spelman College, Atlanta, Ga. • All day, Light vehicle sales for Novembe

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Sales Manufacturing 72

Wealth Management

NOVEMBER 30, 2023

The newest additions are the second and third teams to jump to Snowden Lane Partners from within the independent channel.

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Recruitment 107

Calculated Risk

NOVEMBER 30, 2023

The BEA released the Personal Income and Outlays report for October: Personal income increased $57.1 billion (0.2 percent at a monthly rate) in October , according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes, increased $63.4 billion (0.3 percent) and personal consumption expenditures (PCE) increased $41.2 billion (0.2 percent).

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Food Taxes Economics 72

Wealth Management

NOVEMBER 30, 2023

Ten-figure fortunes come mainly from inheritance, not from hard work. But if heirs don’t know how to make money, are they good stewards of family riches?

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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.

Accounting

Advisor Perspectives

NOVEMBER 30, 2023

Real estate headlines seem to only focus on bad news right now, from remote work’s impact on offices to struggles for city center retail.

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Retail 72

Calculated Risk

NOVEMBER 30, 2023

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report: Weekly Housing Trends View — Data Week Ending Nov 25, 2023 • Active inventory increased slightly, with for-sale homes 1.8% above year ago levels. Active listings exceeded last year’s levels again this week, growing by a slightly higher rate than previous week (+1.8% year-over-year vs +1.5%).

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Sales Numbers Marketing Marketing 69

Advisor Perspectives

NOVEMBER 30, 2023

In the week ending November 25, initial jobless claims were at a seasonally adjusted level of 218,000, an increase of 7,000 from the previous week's revised figure. The latest reading is lower than the forecast of 220,000.

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