The Big Picture
MAY 9, 2024
Nestled in between lip-sync dancers and fashion influencers, financial fraud lurks on TikTok. At least one person1 has noticed the risks to young consumers of social media: Since August 2020, @TikTokInvestors has been curating the most outrageous money-losing and dangerous videos culled from the “financial experts” at TikTok. The advice ranges from wrong to risky to criminal: -401ks?
Calculated Risk
MAY 6, 2024
Fannie reported results for Q1 2024. Here is some information on single-family Real Estate Owned (REOs). Fannie Mae reported the number of REOs decreased to 7,791 at the end of Q1 2024, down 5% from 8,403 at the end of the previous quarter, and down 9% year-over-year from Q1 2023. For Fannie, this is down 95% from the 166,787 peak number of REOs in Q3 2010.
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Wealth Management
MAY 7, 2024
A look at the recent performance of private direct lending.
Abnormal Returns
MAY 5, 2024
Top clicks this week Widen your investing lens. (awealthofcommonsense.com) Why the stock market usually goes up. (humbledollar.com) The best investors are running their own race. (klementoninvesting.substack.com) How stocks, bonds and cash have performed over the past 30 years. (awealthofcommonsense.com) How major asset classes performed in April 2024.
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.
The Big Picture
MAY 6, 2024
It’s taken me months to organize all of my research for my next book project; it’s a lot of stuff, some dating back to 2000. Much of it reflects the bad ideas and numbers, and worse advice, that float around Wall Street. A lot of it has not aged well. But every now and then, something I saved turned out to be prescient — not because it was lucky, but because it contained a well-considered insight that has stood the test of time.
Calculated Risk
MAY 7, 2024
From Manheim Consulting today: Wholesale Used-Vehicle Prices Declined in April Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in April compared to March. The Manheim Used Vehicle Value Index (MUVVI) fell to 198.4, a decline of 14.0% from a year ago. The seasonal adjustment to the index magnified the results for the month, resulting in a 2.3% month-over-month decrease.
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Abnormal Returns
MAY 4, 2024
EVs What is going to become of Tesla's ($TSLA) charging network? (washingtonpost.com) Do EVs need artificial noises? (axios.com) Autos Automatic braking will soon be a standard, required feature on cars. (theverge.com) Do you really want a GM ($GM) car without Apple CarPlay? (bloomberg.com) What goes into a VIN? (theconversation.com) Energy Why Plant Vogle could be the last large scale nuclear power plants built in the U.S.
Nerd's Eye View
MAY 10, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners"– this week's edition kicks off with the news that a recent analysis from Morningstar suggests that the Department of Labor's (DoL's) new Retirement Security Rule (aka Fiduciary Rule 2.0) could save retirement plan participants $55 billion over the next 10 years (due to an expectation of more low-cost fees being offered in plans) and those rolling over workplace plans into IRAs to purchase annuities another $32.5 bill
Calculated Risk
MAY 6, 2024
Altos reports that active single-family inventory was up 0.6% week-over-week. Inventory is now up 13.3% from the February bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of May 3rd, inventory was at 560 thousand (7-day average), compared to 556 thousand the prior week. Inventory is still far below pre-pandemic levels.
Wealth Management
MAY 6, 2024
While the lack or breach of trust is its kryptonite.
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
Abnormal Returns
MAY 7, 2024
Markets Why TIPS are more attractive than nominal bonds at this point. (morningstar.com) Chinese stocks have badly underperformed for more than a decade. (sherwood.news) ETFs Just because somebody puts a strategy in an ETF wrapper doesn't mean you need to buy it. (rogersplanning.blogspot.com) Is there another class of investors able to push spot Bitcoin ETF adoption higher?
Nerd's Eye View
MAY 8, 2024
Measuring a client's tolerance for risk is an essential (and required!) step when onboarding a new client, as making any sort of recommendation is impossible without first understanding how comfortable clients may be when their portfolios inevitably experience volatility. Over the years, 2 types of measurement tools have emerged as the standards for assessing risk tolerance: 1) psychometric tests, which feature a series of questions (such as, "What amount of risk do you feel you have taken with
Calculated Risk
MAY 4, 2024
At the Calculated Risk Real Estate Newsletter this week: • Case-Shiller: National House Price Index Up 6.4% year-over-year in February • Inflation Adjusted House Prices 2.4% Below Peak • Lawler: Update on Mortgage Rates and Spreads and also New / Renewal Rents • Freddie Mac House Price Index Increased in March; Up 6.6% Year-over-year This is usually published 4 to 6 times a week and provides more in-depth analysis of the housing market.
Wealth Management
MAY 8, 2024
An advisor team collectively manging $800 million in assets are joining Raymond James' independent channel from Commonwealth.
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Abnormal Returns
MAY 8, 2024
Markets Earnings continue to be supportive of the bull market. (carsongroup.com) Measures of corporate sentiment are ticking higher. (wsj.com) ETFs The number of single-stock ETFs is growing. (wsj.com) Good performance need not equal AUM. (etf.com) Sports business Sports betting companies are looking for new ways to get your money. (cnn.com) Can a sports league have too much inventory?
Nerd's Eye View
MAY 7, 2024
Welcome everyone! Welcome to the 384th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Hannah Provost. Hannah is a partner and financial advisor at Lomanto Provost Financial Advisors, a hybrid advisory firm based in Plattsburgh, New York, that oversees approximately $150 million in assets under management for about 380 client households.
Calculated Risk
MAY 8, 2024
Today, in the Calculated Risk Real Estate Newsletter: 1st Look at Local Housing Markets in April A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to April 2019 for each local market (some 2019 data is not available). This is the first look at several early reporting local markets in April.
Wealth Management
MAY 8, 2024
Taxpayers must apply for a private letter ruling to get an extension.
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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?
Abnormal Returns
MAY 10, 2024
The biz How the Acquired podcast became a favorite in the business world. (wsj.com) Scott Galloway is launching a new finance-focused podcast. (semafor.com) Business Rick Buhrman and Paul Buser talk with Mitch Rales, co-founder of Danaher Corp. (joincolossus.com) Derek Thompson talks with Gideon Lewis-Kraus about the prospects for eVTOLs. (theringer.com) Josh Brown and Michael Batnick talk all things Hollywood with Matt Belloni.
Nerd's Eye View
MAY 6, 2024
Welcome to the May 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that self-directed retirement planning software provider NewRetirement has raised a $20M Series A round as the company demonstrates that its DIY tools really do turn a subset of consumers into bona fide prosp
Calculated Risk
MAY 9, 2024
Today, in the Calculated Risk Real Estate Newsletter: Housing Starts: Record Average Length of Time from Start to Completion in 2023 A brief excerpt: In 2023, it took a record 8.6 months from start to completion for single family homes, up from an already elevated 8.3 months in 2022. For 2+ unit buildings, it took a record 17.1 months for buildings with 2 or more units in 2023, unchanged from 17.1 months in 2022.
Wealth Management
MAY 7, 2024
In the world, the United States has the most cities boasting millionaire residents, followed by China.
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
Abnormal Returns
MAY 8, 2024
Podcasts Brett McKay talks with Jared Dillian author of "No Worries: How to Live a Stress-Free Financial Life." (artofmanliness.com) Cameron Passmore and Benamin Felix talk with Scott Galloway author of "The Algebra of Wealth: A Simple Formula for Financial Security." (rationalreminder.libsyn.com) Barry Ritholtz talks with Larry Swedroe about the challenge of stock picking.
The Big Picture
MAY 10, 2024
This week, we speak with Jim O’Shaughnessy, founder and CEO of O’Shaughnessy Ventures. He is also chairman of the board at Stability AI. He is the host of the Infinite Loops podcast and the author of How to Retire Rich , Invest Like the Best , and Predicting the Markets of Tomorrow. We discuss how the book What Works on Wall Street set the tone for his entire career as a quant.
Calculated Risk
MAY 8, 2024
From Dodge Data Analytics: Dodge Momentum Index Rose 6% in April The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 6.1% in April to 173.9 (2000=100) from the revised March reading of 164.0. Over the month, commercial planning improved 12.6% and institutional planning dropped 6.3%. “The Dodge Momentum Index (DMI) saw positive progress in April, alongside a deluge of data center projects that entered the planning stage ,” stated Sarah Martin, associate director of for
Wealth Management
MAY 7, 2024
The planning provider has seen significant demand from advisors, contributing to the rollout of RightRisk.
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.
Abnormal Returns
MAY 10, 2024
Markets Picking 30 companies for the Dow Jones Industrial Average isn't easy in a dynamic economy. (wsj.com) The stock market doesn't love high inflation. (klementoninvesting.substack.com) Apple Apple ($AAPL) is in a tough spot. (om.co) Apple ($AAPL) may be late in AI, but don't count them out. (barrons.com) If Apple ($AAPL) is no longer the world's biggest brand, what is?
The Big Picture
MAY 8, 2024
APPLE EMBED At The Money: Concentrated Portfolios: Andrew Slimmon, Morgan Stanley (May 8, 2024) Are your expensive active mutual funds and ETFs actually active? Or, as is too often the case, are they only pretending to be active? Do they charge a high active fee but then behave more like an index fund? AndrewToday, we discuss the advantages of concentrated portfolios.
Calculated Risk
MAY 9, 2024
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 April, Realtor.com reported inventory was up 30.4% YoY, but still down almost 36% compared to April 2017 to 2019 levels. Now - on a weekly basis - inventory is up 35.1% YoY. Realtor.com has monthly and weekly data on the existing home market.
Wealth Management
MAY 6, 2024
According to the settlement letter, third parties used the firm’s cash management brokerage account to withdraw funds from accounts they’d illegally accessed at other financial institutions.
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