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I love FRED — I am a big user of their charts and data (and even their swag ). Where I go full heterodox are in things like the Macroeconomic Uncertainty Index, which is a recent addition to FRED’s awesome database. It is a “monthly measure of how unpredictable overall economic conditions are 1 month, 3 months, and 1 year ahead.” FRED’s post on it observed that “Economists Kyle Jurado, Sydney Ludvigson, and Serena Ng use a set of 132 individual macroeconomic t
Today, in the Calculated Risk Real Estate Newsletter: The Long-Term Housing and Population Shift A brief excerpt: Something different … Here is a look at the last 50 to 60 years, and some predictions about the next 50+ years. First, here is a graph from the Census Bureau showing the Median Center of Population for the United States: 1880 to 2020 A key driver of the westward movement was the availability of water , and this boosted population growth in California, and in several other states like
The original SECURE Act, signed into law in December 2019, changed many of the long-standing rules governing IRAs and other retirement accounts, and no single measure in the legislation had a more seismic impact on planning than the changes to the post-death distribution rules for retirement accounts. Specifically, the law stipulated that "Non-Eligible Designated Beneficiaries" (i.e., designated beneficiaries who are neither surviving spouses nor fall into a limited number of other categories) w
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.
My RWM colleagues Josh Brown and Michael Batnick do a bang-up job each week diving into the specifics of the newsflow in What Are Your Thoughts? Don’t miss my favorite chart from this week’s discussion 46 minutes deep into the episode ; its from Bank of America by way of Batnick (above). All of the fall-off surrounding the 8% pullback in S&P 500 profits — literally, more than 100% of it — is due to the huge drop in energy profits.
Utah-based Alpine Securities is challenging the constitutionality of FINRA. Given recent judicial decisions from more conservative courts, some legal scholars think it may succeed.
From the MBA: Mortgage Delinquencies Decrease in the Second Quarter of 2023 The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.37 percent of all loans outstanding at the end of the second quarter of 2023 , according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.
From the MBA: Mortgage Delinquencies Decrease in the Second Quarter of 2023 The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.37 percent of all loans outstanding at the end of the second quarter of 2023 , according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.
Podcasts Christine Benz and Jeff Ptak talks with Manisha Thakor about her new book ”MoneyZen: The Secret to Finding Your “Enough.” (morningstar.com) Peter Lazaroff talks with John Jennings, author of "The Uncertainty Solution" about how to invest with confidence in inherently uncertain markets. (peterlazaroff.com) Fraud How an empty lot was sold without the owner's knowledge or consent.
Welcome back to the 345th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Lori Van Dusen. Lori is the CEO of LVW Advisors, an independent RIA based in Pittsford, New York, that oversees more than $2 billion in assets under management for over 450 small-to-mid-sized institutions and ultra-high-net-worth families. What's unique about Lori, though, is how through her multi-decade career, she has built a deep expertise in the investment intricacies and complex issue
CI Financial revealed Corient’s latest additions during an earnings call this week, Dynamic Advisor Solutions added five new teams in the first half of the year, Integrated added a new Denver affiliate and WEG is staffing up for more growth.
We had a lot of fun with Joe Terranova and Mark Fisher on the show this week. Mark shared a lot of behavioral stuff about what it takes to make it as a trader. It’s not for everyone and it costs a lot to find this out. I was fascinated by the discussion and judging for the feedback we’ve gotten, a lot of our listeners were as well. You can watch the full episode here: Or find it on your favorite podcast ap.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Business Will the AI boom bail out San Francisco as a destination? (marketwatch.com) How Larry Fink, CEO of Blackrock ($BLK), became so demonized. (economist.com) Being an Airbnb ($ABNB) host is no longer easy money. (bloomberg.com) Cities When it comes to housing, supply and demand work. (nymag.com) How to make cities safe. (unchartedterritories.tomaspueyo.com) Environment Just how much have we already overfished the oceans?
Welcome to the August 2023 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, underlying trends, and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that estate planning platform Wealth.com has launched Ester, an AI-driven 'legal assistant' that uses machine learning to help advisors quickly review and extract the key information from clients' estate plan
My end-of-week morning train WFH reads: • Seth Klarman on What Makes a Value Investor and Committing ‘Sacrilege’ in New Edition of ‘Security Analysis.’ Klarman edited the classic to remind investors of basic principles — but he questions “how much of this will be read by institutional investors who may think they know it all.” ( Institutional Investor ) • Flying Cars Are Nearly Here—and They’re Electric : Companies like Joby and Archer are about to begin production of electric vertical takeoff a
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Strategy Bonds are showing positive real yield for the first time in a long time. (ft.com) Why Seth Klarman spearheaded a re-write of Graham and Dodd's classic "Security Analysis." (institutionalinvestor.com) Active ETFs are the future. (ft.com) Goldman Sachs Goldman Sachs ($GS) has a morale problem. (nymag.com) Why fingers are being pointed at Goldman Sachs' ($GS) CEO David Solomon could use a friend.
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-August A brief excerpt: Interestingly, new home inventory is close to a record percentage of total inventory. This graph uses Not Seasonally Adjusted (NSA) existing home inventory from the National Association of Realtors® (NAR) and new home inventory from the Census Bureau ( only completed and under construction inventory ).
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Massachusetts Secretary of the Commonwealth has launched an investigation into how investment firms are using artificial intelligence-enabled technologies, echoing concerns expressed by the SEC that these tools could be used to put the firms' interests ahead of their clients if the methods of the developers who create the tools and the 'training' the AI goes through is
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?
Quant stuff James Picerno, "In short, there are no silver bullets for building a solid backtest." (capitalspectator.com) How ChatGPT can suss out information in company filings. (marginalrevolution.com) Quants have beliefs: in their systems not a narrative. (mrzepczynski.blogspot.com) C-suite How the stock ownership of medical device company CEOs affects recalls.
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from Danielle Hale: Weekly Housing Trends View — Data Week Ending Aug 5, 2023 • Active inventory declined, with for-sale homes lagging behind year ago levels by 9%. This week marks a 7th consecutive decline in the number of homes actively for sale compared to the prior year, and the gap is growing. • New listings–a measure of sellers putting homes up for sale–were down again this week, by 14% from on
Brookfield Asset Management is aiming to raise $150 billion this year to take advantage of the buying opportunities it sees, reports The Wall Street Journal. Industry experts react to WeWork’s “going concern” warning and what it might mean for the already beleaguered office market. These are among the must reads from around the real estate investment world to end the week.
I am super jazzed for this year’s Future Proof. Our second go-around is even bigger and better than last year’s! It is nothing like the usual financial conference — it’s totally outdoors, right on the Pacific in Huntington Beach. We took over all 5 hotels for the 3000 attendees, including 1,000 registered advisors and over 500 sponsors.
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
Crypto PayPal ($PYPL) has launched its own stablecoin. (theverge.com) Five questions about the PayPal stablecoin. (coindesk.com) Companies How Apple ($AAPL) saves money on new chips manufactured by Taiwan Semi ($TSM). (theinformation.com) Uber ($UBER) seems to have threaded the needle. (youngmoney.co) A closer look at Berkshire Hathaway's ($BRK.A) second quarter results.
Financial advisors who have established and successfully built up their advisory firms over several years can often go through many stages of firm development, requiring them to hire staff and additional advisors to manage their growing clientele. When a firm becomes large enough, though, the firm owner may be compelled to consider stepping away from their long-standing work as a client-facing financial advisor into a more pronounced business leadership role to manage the growing business.
A quick note on today’s BLS report on the Consumer Price Index (CPI), which rose 0.2% in July on a seasonally adjusted basis, Over the last 12 months, the CPI has increased 3.2%. Once again, the biggest part of the gains was for shelter. As I have noted before, the entity primarily responsible for rising home prices higher is the Fed. There are numerous ways to measure price increases, and I wanted to highlight a specific approach the BLS occasionally references: “The 16% trimmed-mea
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.
Markets Cullen Roche, "This has been one of the more fascinating years in economic and market history." (disciplinefunds.com) Countertrend rallies shouldn't be surprising. (awealthofcommonsense.com) Apple Why Apple ($AAPL) may be the most important company in history. (blairbellecurve.com) You don't need an 'everything app' when you already have the 'everything phone.
Here are a few measures of inflation: The first graph is the one Fed Chair Powell had mentioned when services less rent of shelter was up 7.6% year-over-year. This has fallen sharply and is now up 3.3% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through July 2023. Services were up 5.7% YoY as of July 2023, from 5.7% YoY in June.
Institutional investors remain committed to the best-performing sectors, although there is some interest in newer subsectors, according to exclusive WMRE research.
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Bob Elliott, Ben Carlson, and Downtown Josh Brown discuss Bob’s time running money at Bridgewater, CPI, global macro, the labor market, why hedge funds are typically bearish, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
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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