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Altos reports that active single-family inventory was up 0.8% week-over-week. Inventory is now up 41.4% from the February seasonal bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of August 16th, inventory was at 698 thousand (7-day average), compared to 693 thousand the prior week. This is the highest level of inventory since June 2020 ; however, inventory is still well below pre-pandemic levels.
According to the federal complaint calling for a class action, the firm’s policies “maximize profits for UBS while at the same time disregarding its clients’ best interests.
Markets There is big difference between politics and policies when it comes to investing. (optimisticallie.com) 20 pandemic darlings that have yet to rebound. (investmenttalk.co) Companies Couche-Tard seeks to buy US$31 billion owner of 7-Eleven stores (bnnbloomberg.ca) Why Carl Icahn and Icahn Enterprises ($IEP) just settled with the SEC. (ft.com) How the cannabis landscape is changing.
Irrevocable trusts lie at the heart of a variety of estate planning strategies, as gifts to irrevocable trusts can allow for the transfer of assets outside of an owner’s estate for estate tax purposes with more structure than an outright gift. The downside, however, is that irrevocable trusts are "irrevocable" and can't easily be undone; in moving assets to the trust, the original owner gives up their authority over the assets, with the trustee taking over the management and distribution o
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
The key reports this week are July New and Existing Home sales. Fed Chair Jerome Powell will speak on the "Economic Outlook" at the Jackson Hole Symposium on Friday. The BLS will release the preliminary employment benchmark revision on Wednesday. -- Monday, August 19th -- No major economic releases scheduled. -- Tuesday, August 20th -- No major economic releases scheduled. -- Wednesday, August 21st -- 7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage pu
Also on the site When it comes to finances, you are on your own. No one is coming to save you. (abnormalreturns.com) Top clicks this week Callie Cox, "Your portfolio’s success depends on your behavior during the wild panics." (optimisticallie.com) Big up and down days in the stock market tend to cluster. (downtownjoshbrown.com) There is nothing normal about the distribution of angel investment returns.
Also on the site When it comes to finances, you are on your own. No one is coming to save you. (abnormalreturns.com) Top clicks this week Callie Cox, "Your portfolio’s success depends on your behavior during the wild panics." (optimisticallie.com) Big up and down days in the stock market tend to cluster. (downtownjoshbrown.com) There is nothing normal about the distribution of angel investment returns.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a new study indicates that while financial advisory firms are largely satisfied with their tech stacks, they take a range of approaches to applying tech: from "innovators" that invest in tech to differentiate themselves from their competition and to enhance the client experience to "operators" that invest in technology largely to improve operations and internal efficiency
This week, we speak with Ricky Sandler , the chief investment officer and the founder of Eminence Capital. Today, Eminence is a $7B global investment management organization. Sandler came to prominence as a savvy long/short investor and Eminence continues to successfully run several different Long/Short portfolios. Prior to launching Eminence, Ricky was co-founder and co-general partner of Fusion Capital Management, LLC.
The biz Apple ($AAPL) is losing its dominance as a podcast player. (bloomberg.com) Apple has launched a web app for podcasts. (theverge.com) The story of how Alex Cooper of “Call Her Daddy” fame went from unemployed to a nine-figure deal with SiriusXM. (readtrung.com) How Stephen West's 'Philosophize This' podcast became a hit. (substack.com) Nate Silver Jeff Ma and Rufus Peabody talk with Nate Silver author of "On the Edge.
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.
Container traffic gives us an idea about the volume of goods being exported and imported - and usually some hints about the trade report since LA area ports handle about 40% of the nation's container port traffic. The following graphs are for inbound and outbound traffic at the ports of Los Angeles and Long Beach in TEUs (TEUs: 20-foot equivalent units or 20-foot-long cargo container).
The transcript from this week’s, MiB: Mike Greene, Simplify Asset Management , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ This is Masters in Business with Barry Ritholtz on Bloomberg Radio.
Books An excerpt from Brooke Harrington’s forthcoming book, "Offshore: Stealth Wealth and the New Colonialism." (theatlantic.com) An excerpt from “Gray Matters: A Biography of Brain Surgery,” by Dr. Theodore H. Schwartz. (wsj.com) An excerpt from "The Happiness of Dogs: Why the Unexamined Life Is Most Worth Living" by Mark Rowlands. (theguardian.com) A Q&A with Julie McFadden author of "Nothing to Fear: Demystifying Death to Live More Fully.
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?
I'll be out of contact until Sept 5th. The key housing reports over the next two weeks are existing home sales on Thursday, New Home sales on Friday, and the Case-Shiller house price index next Tuesday. Best to all!
At The Money: At the Money: Learning Lifecycles of Companies. (August 21, 2024) The Magnificent Seven, the Nifty Fifty, FAANG: Each of these were popular groups of companies investors erroneously believed they could “Set & Forget,” put them away forever, and you’re set for life. But as history informs us, the list of once-great companies that dominated their eras and then declined is long.
Podcast Jim Dahle talks with Michael Kitces talk about the state of the financial planning business. (whitecoatinvestor.com) Daniel Crosby talks with Charles Eckhart, co-founder of Cathexis Group, about family wealth dynamics. (standarddeviationspod.com) Advisor tech VCs are betting big that Savvy Wealth can use AI to upend the RIA business model. (riabiz.com) Vanilla raised another round of capital.
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
Today, in the Calculated Risk Real Estate Newsletter: Lawler: Early Read on Existing Home Sales in July and 3rd Look at Local Housing Markets A brief excerpt: From housing economist Tom Lawler: Based on publicly-available local realtor/MLS reports released across the country through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted annual rate of 3.96 million in July , up 1.8% from June’s preliminary pace but down 2.2% fro
My keynote at the Greater Kansas City FPA Symposium 2024 is above. They are a great group of people, and very motivated to serve their clients. The deck is an updated version of last year’s presentation to investors at the Orlando Money Show. It has evolved into a few chapters in my upcoming book (more on that to come later). The folks attending the FPA event are all CFPs and advisors, and so I tailored the presentation to ideas they can use to better serve their clients.
Markets It's not your imagination, market moves are getting faster. (awealthofcommonsense.com) Why bonds are now a better diversifier than they were a couple years ago. (sherwood.news) Companies What's wrong with Starbucks ($SBUX)? (wsj.com) Investors are still paying up for AI exposure. (tomtunguz.com) What do you get when you buy a share of Berkshire Hathaway ($BRK.B)?
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.
Weekend: • Schedule for Week of August 18, 2024 Monday: • No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are up 6 and DOW futures are up 39 (fair value). Oil prices were up mostly unchanged over the last week with WTI futures at $76.65 per barrel and Brent at $79.68 per barrel. A year ago, WTI was at $81, and Brent was at $86 - so WTI oil prices are down about 5% year-over-year.
After the Great Financial Crisis, everyone was trying to figure out how it would impact the coming wave of millennials entering adulthood. Millennials were getting blamed for killing everything — napkins, diamond rings, chain restaurants, motorcycles, bar soap and more. Sure, whatever. The one that never made sense to me was all the pundits predicting millennials would never buy a home or move out of big cities.
Insiders Corporate insiders are playing games with how they are reporting their stock sales. (bloomberg.com) How corporate insiders get away with insider trading while following the rules. (papers.ssrn.com) Corporate finance How inclusion in a benchmark can affect subsequent corporate investment. (papers.ssrn.com) Nobody wants to talk about diversity on conference calls any more.
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.
From STR: U.S. hotel results for week ending 10 August The U.S. hotel industry reported positive comparisons year over year, according to CoStar’s latest data through 10 August. 4-10 August 2024 (percentage change from comparable week in 2023): • Occupancy: 68.7% (+0.5%) • Average daily rate (ADR): US$159.49 (+1.4%) • Revenue per available room (RevPAR): US$109.51 (+1.9%) emphasis added The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.
US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.
Strategy Successful investors have a long time horizon. (awealthofcommonsense.com) An example of overconfidence and leverage. (novelinvestor.com) Finance The VC boom of the early 2020s is showing up in historically bad performance. (sherwood.news) Credit card companies are adding additional perks like lounges at concert venues. (wsj.com) The popularity of sports gambling as a market failure.
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.
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