The Big Picture
JUNE 6, 2024
I spend a lot of time debunking investment-related b t. Given the general innumeracy of the public, it’s easy for a dishonest publisher of economic data to create narratives that are not only false and misleading but effective at confusing the public. Typically, it takes years before sufficient data amasses to prove how wrong these people were.
Abnormal Returns
JUNE 5, 2024
Podcasts Barry Ritholtz talks with Peter Mallouk about better managing your financial affairs. (ritholtz.com) Dan Haylett talks with Stephanie McCullough, founder of Sophia Financial, about the challenges facing women planning for retirement. (humansvsretirement.com) Jonathan Clements and Peter Mallouk talk about the challenges of raising money savvy children.
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Nerd's Eye View
JUNE 3, 2024
Welcome to the June 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 'startup' custodian Altruist has completed a $169 million fundraising round as it continues to rebuild the RIA custodial tech stack layer-by-layer while positioning itself as the biggest RIA custodian b
A Wealth of Common Sense
JUNE 2, 2024
The pandemic housing boom means Americans have more home equity than ever. Households have added roughly $12 trillion in home equity since the end of 2019: To put this number in context, there was only ~$6 trillion in home equity following the bursting of the housing bubble following the Great Financial Crisis. Out of the $32 trillion in total equity, let’s say half of it is tappable (meaning homeowners can cash it.
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.
The Big Picture
JUNE 4, 2024
Today, I am participating in a few events at Bloomberg’s Hedge Fund Forum 2024. I will be moderating the Emerging Managers Panel (I did this last year as well). It is a great collection of three new(ish) managers, in a variety of areas, all of whom have put up solid numbers: 3:45 PM Panel Discussion: Emerging Managers Panelists: Vince Aita, CIO & Managing Partner, Cutter Capital Management Brian Hurst, Founder and CIO, ClearAlpha Technologies Melvin Ike, Founder and Managing Partner, The
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Nerd's Eye View
JUNE 7, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that recent surveys indicate that consumers continue to trust human financial advisors more than Artificial Intelligence (AI)-powered tools. Nonetheless, respondents (particularly those in younger generations) do not see this as an either-or choice, but rather anticipate benefitting from working with human advisors who leverage AI tools for certain tasks (e.g., detecting fraud
A Wealth of Common Sense
JUNE 4, 2024
Through the end of May, the S&P 500 has experienced 24 new all-time highs this year alone. Volatility has been relatively low for some time now. We haven’t had a 2% down day on the S&P 500 in well over 300 trading days: That’s fast approaching the longest streak without a nasty down day over the past 10 years. The S&P 500 is up around 11% for the year on a total return basis.
Calculated Risk
JUNE 4, 2024
From the BLS: Job Openings and Labor Turnover Summary The number of job openings changed little at 8.1 million on the last business day of April , the U.S. Bureau of Labor Statistics reported today. Over the month, both the number of hires and total separations were little changed at 5.6 million and 5.4 million, respectively. Within separations, quits (3.5 million) and layoffs and discharges (1.5 million) changed little. emphasis added The following graph shows job openings (black line), hires (
Abnormal Returns
JUNE 5, 2024
Markets Dedicated short-sellers are a dying breed. (bloomberg.com) Which should give investors pause. (herbgreenberg.substack.com) Crypto The Ether ETF fee war is already here. (barrons.com) Bitcoin miners with attractive power contracts could become targets. (coindesk.com) Finance The Texas Stock Exchange is taking steps to start trading. (wsj.com) Alphabet ($GOOGL) is stealing Eli Lilly's ($LLY) CFO.
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.
Nerd's Eye View
JUNE 5, 2024
For the most part, solo advicers launching their first practice often have plenty of time and not a lot of revenue, which means they tend to take care of every aspect of the business themselves. As their practices grow and they start to serve more clients, though, advicers invariably reach a point where they simply don't have the time to do everything on their own and need to decide whether to make their first hire (or not!).
A Wealth of Common Sense
JUNE 7, 2024
Americans are earning more income from their investments than ever before. Here’s the data from the Wall Street Journal: Americans in the first quarter earned about $3.7 trillion from interest and dividends at a seasonally adjusted annual rate, according to the Commerce Department, up roughly $770 billion from four years earlier. That’s a whole lot of passive income.
Wealth Management
JUNE 6, 2024
Create a brand focused on you by being relatable and authentic helps gain clients.
Abnormal Returns
JUNE 6, 2024
Books Jack Raines talks with Kyla Scanlon about her new book "In This Economy?: How Money & Markets Really Work." (sherwood.news) An excerpt from "Triumph of the Yuppies: America, the Eighties, and the Creation of an Unequal Nation" by Tom McGrath. (politico.com) An excerpt from "In the Shadows: True Stories of High-Stakes Negotiations to Free Americans Captured Abroad" by Mickey Bergman.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Nerd's Eye View
JUNE 4, 2024
Welcome everyone! Welcome to the 388th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Freeman Linde. Freeman is the Co-Founder of La Crosse Financial Planning, an RIA based in La Crosse, Wisconsin, that oversees nearly $50 million in assets under management (AUM) for 73 client households. What's unique about Freeman, though, is how despite the conventional industry view that it takes $10s of millions of AUM to go independent, launched his own RIA with just $7M
A Wealth of Common Sense
JUNE 6, 2024
We also discussed questions about our personal investment decisions, switching your portfolio from individual stocks to index funds, the potential impact of artificial general intelligence and investment advice for a college senior. Further Reading: If You’re Still Worried You Aren’t Wealthy 1That CFA designation still comes in handy from time to time. 2Assuming you put some thought into that allocation and i.
Wealth Management
JUNE 4, 2024
What if your client’s annuity wasn’t an annuity?
Abnormal Returns
JUNE 7, 2024
Markets Why the ranks of 'degens' are growing. (wsj.com) How to avoid the meme stock drama. (morningstar.com) Some math that traders need to know. (scheplick.com) Crypto What Robinhood ($HOOD) wants with BitStamp. (blockworks.co) Autos The car market is normalizing. (nytimes.com) Unsold Tesla ($TSLA) inventory is piling up. (sherwood.news) Tourism How much does tourism help you understand about another country?
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Nerd's Eye View
JUNE 4, 2024
Welcome everyone! Welcome to the 388th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Freeman Linde. Freeman is the Co-Founder of La Crosse Financial Planning, an RIA based in La Crosse, Wisconsin, that oversees nearly $50 million in assets under management (AUM) for 73 client households. What's unique about Freeman, though, is how despite the conventional industry view that it takes $10s of millions of AUM to go independent, launched his own RIA with just $7M
Calculated Risk
JUNE 7, 2024
The headline jobs number in the May employment report was well above expectations, however March and April payrolls were revised down by 15,000 combined. The participation rate and employment population ratio decreased, and the unemployment rate increased to 4.0%. Construction employment increased 21 thousand and is now 613 thousand above the pre-pandemic level.
Wealth Management
JUNE 4, 2024
The tenth annual WealthManagement.com Industry Awards ceremony will be held in New York City on Sept. 5.
Abnormal Returns
JUNE 6, 2024
Markets When does 'talking your book' tip over into market manipulation? (wsj.com) Why you shouldn't be worried about index funds just yet. (thefinancialbodyguard.com) Crypto Robinhood ($HOOD) is buying BitStamp. (theblock.co) Franklin Templeton ($BEN) is exploring funds with altcoins. (coindesk.com) Former FTX customers just got a big break. (sherwood.news) Alternatives There are very good reasons why hedge fund managers are not publicly traded.
Speaker: Igli Laci, Strategic Finance Leader
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
A Wealth of Common Sense
JUNE 5, 2024
Today’s Animal Spirits is brought to you by YCharts and CME Group: See here for 20% off (new customers only) and for more info on the transition analysis tool. See here for more information on CME Group’s valuable educational materials and trading tools and learn more about what adding futures can do for you. On today’s show, we discuss: 200 years of market concentration Wall Street’s favorite r.
Calculated Risk
JUNE 6, 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 35.2% YoY, but still down almost 34% compared to April 2017 to 2019 levels. Now - on a weekly basis - inventory is up 35.5% YoY. Realtor.com has monthly and weekly data on the existing home market.
Wealth Management
JUNE 6, 2024
F2 Strategy's co-founder and CEO provides his take on the most important wealth management technology news of the last month.
Abnormal Returns
JUNE 3, 2024
Podcasts Dan Haylett talks with Jamie Hopkins about rewiring the way we think about retirement and its underlying assumptions. (humansvsretirement.com) Bogumil Baranowski talks with Brian Portnoy of Shaping Wealth about the search for funded contentment. (open.spotify.com) Charles Schwab Charles Schwab ($SCHW) will rely on iCapital to power its push into alternatives.
Speaker: Joe Buhrmann, MBA, CFP®, CLU®, ChFC® Senior Financial Planning Practice Management Consultant eMoney Advisor
During an era of evolving consumer preferences, the banking sector is undergoing a profound shift. As customers continue to broaden their perspectives, banking professionals must support their customers' financial wellness by providing holistic financial advice that aligns with individual goals and circumstances. Without adapting, financial institutions will find that loyalty may crumble amid uncertainty.
Trade Brains
JUNE 5, 2024
The tyres that carry us across continents and down dusty paths are often an afterthought. Yet JK Tyre and Industries Ltd recognizes their critical role in the transportation industry. JK Tyre has carved its niche in the Indian market, becoming the undisputed leader in truck and bus radial tyres. Their commitment translates to efficient and safe movement of goods and people across the nation’s vast network.
Calculated Risk
JUNE 7, 2024
From Manheim Consulting today: Wholesale Used-Vehicle Prices Declined in May Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in May compared to April. The Manheim Used Vehicle Value Index (MUVVI) fell to 197.3, a decline of 12.1% from a year ago. The seasonal adjustment to the index reduced the impact on the month, resulting in values that declined 0.6% month over month.
Wealth Management
JUNE 4, 2024
SAM INSIGHTS, Ask SAM and SAM Score are the latest iterations of the Canadian firm’s AI-based planning platform.
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