Sat.Jun 29, 2024 - Fri.Jul 05, 2024

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Top clicks this week on Abnormal Returns

Abnormal Returns

Also on the site Some reasons why being online is so exhausting these days. (abnormalreturns.com) Top clicks this week Mean reversion happens in the stock market. Good luck trying to time it. (awealthofcommonsense.com) The degenerate economy is booming. (howardlindzon.com) Stop dissing standard deviation as a risk measure. (morningstar.com) Holding cash is comfortable right now, too comfortable.

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Weekend Reading For Financial Planners (July 6-7)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent U.S. Supreme Court decision shifting authority to interpret laws passed by Congress from Federal agencies to the judicial system could have significant impacts on regulation of the financial advice industry, including the potential for additional legal challenges to regulations from the Securities and Exchange Commission (SEC), the Department of Labor (DoL), and o

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8 Financial Planning Tips for Small Business Owners

Carson Wealth

Running a small business involves juggling multiple responsibilities. Managing the business’s finances is one of the most crucial aspects. Proper financial management can be the difference between a thriving business and one that struggles to stay afloat. Here are eight essential financial tips for small business owners to help ensure long-term success. 1.

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Asking Rents Mostly Unchanged Year-over-year

Calculated Risk

Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Tracking rents is important for understanding the dynamics of the housing market. For example, the sharp increase in rents helped me deduce that there was a surge in household formation in 2021 (See from September 2021: Household Formation Drives Housing Demand ).

Marketing 126
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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Sunday links: helping you win

Abnormal Returns

Markets Entertainment stocks are struggling YTD. (hollywoodreporter.com) Lumber prices are struggling YTD. (wsj.com) Strategy Europe's stock market has badly lagged the U.S. How much longer can it last? (awealthofcommonsense.com) There's no getting around it, investing is complicated. (tker.co) Don't forget, stocks are real assets. (downtownjoshbrown.com) Policy The Supreme Court has overturned the Chevron doctrine.

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Supreme Court Decision Weakening SEC Could Boost Settlements, State Regulators’ Roles

Wealth Management

Last week, the Court ruled that the commission’s use of in-house administrative law judges violated the Constitution’s guarantee of a jury trial in certain cases. That may change the landscape for financial advisors defending themselves against SEC charges and civil penalties.

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MBA: Mortgage Applications Decreased in Weekly Survey

Calculated Risk

From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications decreased 2.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending June 28, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.6 percent on a seasonally adjusted basis from one week earlier.

Marketing 120
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Research links: a valuable tool

Abnormal Returns

Quant stuff Beware small sample sizes. (mrzepczynski.blogspot.com) Just how useful is historical financial markets data? (retirementresearcher.com) A round-up of recent white papers including 'Embracing Down Rounds: A Potential Path to Long-Term Equity Value.' (bpsandpieces.com) Corporate finance Are companies any good at timing share repurchases? (marketwatch.com) When a company shifts its financial targets - take note.

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Why Quality Factor ETFs Have Seen Large Inflows Over The Last Year – And How Advisors Can Use Them In Client Portfolios

Nerd's Eye View

Over the past few decades, technological advances and plummeting transaction costs have facilitated the emergence of a dizzying variety of ways to gain exposure to very specific areas of the market. As a result, advicers have more options than ever to add value for their clients by tailoring investment portfolios that are specific to their unique needs, goals, and risk tolerance.

Portfolio 177
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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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The Automatic Investing Revolution

A Wealth of Common Sense

My personal finance pipedream for America is that we adopt something like Australia’s retirement system where workers are forced to save a certain percentage of their income for retirement. That pipedream will never happen because Americans hate being forced to do anything. You need to make people think that saving for retirement is their idea.

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June Employment Report: 206 thousand Jobs, 4.1% Unemployment Rate

Calculated Risk

From the BLS: Employment Situation Total nonfarm payroll employment increased by 206,000 in June , and the unemployment rate changed little at 4.1 percent , the U.S. Bureau of Labor Statistics reported today. Job gains occurred in government, health care, social assistance, and construction. The change in total nonfarm payroll employment for April was revised down by 57,000, from +165,000 to +108,000, and the change for May was revised down by 54,000, from +272,000 to +218,000.

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Podcast links: the solar revolution

Abnormal Returns

Economy Paul Podolsky talks with Lev Borodovsky, creator of The Daily Shot. (paulpodolsky.substack.com) Tyler Cowen talks with Joseph Stiglitz, author of "The Road to Freedom: Economics and the Good Society." (conversationswithtyler.com) Roben Farzad talks with Hal Hodson about the mind-boggling solar revolution. (pod.link) Alternatives Eric Golden talks with Phil Huber, Head of Portfolio Solutions at Cliffwater, about the case for private credit.

Economy 216
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#FASuccess Ep 392: Crafting Your Specialization When There Is No Standard Playbook To Learn It, With Kristopher Heck

Nerd's Eye View

Welcome everyone! Welcome to the 392nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Kristopher Heck. Kristopher is a Founding Partner of Tanager Wealth Management, an RIA based in London, England, that oversees approximately $1.1 billion in assets under management (AUM) for 630 client households. What's unique about Kristopher, though, is how his firm has scaled to more than a billion dollars of AUM while specializing in working with clients whose personal an

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Pricing for Profit: How to Set, Negotiate, and Succeed

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

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How to Check the ROI of Academic Programs

Wealth Management

On the Foundation for Research on Equal Opportunity website, advisors and clients can search for the ROI of individual programs offered by private and state colleges and universities.

Clients 119
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FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores

Calculated Risk

Today, in the Calculated Risk Real Estate Newsletter: FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores A brief excerpt: Here are some graphs on outstanding mortgages by interest rate, the average mortgage interest rate, borrowers’ credit scores and current loan-to-value (LTV) from the FHFA’s National Mortgage Database through Q4 2023 (released this morning).

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Saturday links: a permanent condition of mourning

Abnormal Returns

Autos Traffic deaths fell in Q1 but remain elevated. (fastcompany.com) A look at the growing battle over emergency braking systems. (axios.com) Waymo no longer has a wait list in San Francisco. (theverge.com) How much does it cost to insure a Tesla ($TSLA) Cybertruck? (sherwood.news) Energy We need a smarter grid, not just bigger. (semafor.com) How to use molten salt to store energy.

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Polluters Provide Higher Returns than Non-Polluters

Alpha Architect

Atilgan, Demirtas, and Gunaydin found that there has been a pollution premium for US stocks and that the premium translated into superior investment performance. Polluters Provide Higher Returns than Non-Polluters was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

Investing 117
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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

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.

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The U.S. Real Estate Market in Charts

A Wealth of Common Sense

Back in 2020 I wrote a quick rundown of the U.S. real estate market in charts to show how the pandemic was impacting the housing market. It’s been a few years so it’s time to update those charts. The existing home months’ supply measures the number of months it would take to sell all of the houses on the market at the current pace of sales: It’s well off the lows of late-2021/early-2022 and trendi.

Marketing 114
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Wednesday: Trade Deficit, Unemployment Claims, ADP Employment, FOMC Minutes

Calculated Risk

Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Wednesday: • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:15 AM, The ADP Employment Report for June. This report is for private payrolls only (no government). The consensus is for 170,000 payroll jobs added in June, up from 152,000 in May. • At 8:30 AM, The initial weekly unemployment claims report will be released.

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Tuesday links: what prosperity looks like

Abnormal Returns

Markets It's been awhile since we had a 1% drop in the S&P 500. (cautiouslyoptimist.com) Even when the stock market is up YTD there are plenty of stocks that are down on the year. (awealthofcommonsense.com) Putting the growth in private credit into some perspective. (apolloacademy.com) Fund management Hedge funds have a size problem. (bloomberg.com) A great reminder that index construction matters.

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The Competition Conundrum: Charge Less or Offer More?

Wealth Management

If your only differentiator is that you charge 75 basis points, you’ll likely lose the battle when the advisor across town drops to 50.

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Banking on Loyalty: Holistic Financial Advice for Unparalleled Business Growth

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.

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The Big Four Recession Indicators: June Employment

Advisor Perspectives

There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of those indicators, nonfarm employment. June saw a 206,000 increase in total non-farm payrolls and the unemployment rose to 4.1%.

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Schedule for Week of June 30, 2024

Calculated Risk

The key report scheduled for this week is the June employment report to be released on Friday. Other key reports include the June ISM Manufacturing survey, June Vehicle Sales and the Trade Deficit for May. -- Monday, July 1st -- 10:00 AM: ISM Manufacturing Index for June. The consensus is for the ISM to be at 49.0, up from 48.7 in May. 10:00 AM: Construction Spending for May.

Sales 114
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Wednesday links: inescapable forecasts

Abnormal Returns

Strategy Politics and investing don't mix. (howardlindzon.com) Good luck trying to time market factors. (rogersplanning.blogspot.com) Not all investment decisions are created alike. (behaviouralinvestment.com) Finance A lot of loans got repriced in 2024, so far. (axios.com) What former Vanguard OCIO clients should expect. (blogs.cfainstitute.org) Startups Half of VC funding in Q2 went to AI-related startups.

Startup 209
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401(k) Real Talk Episode 112: July 3, 2024

Wealth Management

Open, honest and candid discussion about the Supreme Court's rulings on regulators, Fisher Investments spinning off its 401(k) business, record keeper turnover and more.

Investing 107
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Benchmarking ROI with Forrester: Measuring the Success of Finance Transformation

Finance Transformation Myths Busted Over 75% of organizations struggle to define the right success metrics to benchmark the impact of their finance transformation investment. Whether you are just initiating your digital transformation journey or planning to pitch your next AI project to leadership, without the right metrics and a rigorous tracking process - all your efforts might go to waste!

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Does Crypto Belong in a Portfolio?

Advisor Perspectives

With crypto going mainstream, it’s important that advisors understand the pros and cons of including crypto in a portfolio.

Portfolio 119
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How do macroeconomic announcements impact household spending?

Alpha Architect

What are the primary factors contributing to the steep and persistent decline in U.S. consumption growth during the Great Financial Crisis of 2008-2009? How do macroeconomic announcements impact household spending? was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.

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Longform links: something we forgot

Abnormal Returns

Books An excerpt from "Unit X: How the Pentagon and Silicon Valley Are Transforming the Future of War" by Raj Shah and Christopher Kirchhoff. (theatlantic.com) A Q&A with Soraya Chemaly, author of "The Resilience Myth: New Thinking on Grit, Strength, and Growth After Trauma." (annehelen.substack.com) Insights from “Holding it Together: How Women Became America’s Safety Net,” by Jessica Calarco (crr.bc.edu) Business Shareholder supremacy explains a lot of the dysfunction and grifting around u

Insurance 204