The Reformed Broker
JULY 4, 2023
You know Hancock and Washington and Franklin and Jefferson. You might even know Greene and Knox, Henry and Hale. And we know you know Hamilton, pretty tough to escape that one these days! But it is very unlikely that you know the name Haym Solomon. This is unfortunate, because he’s the guy who arranged financing to keep the Continental Army alive during its darkest days, finding the money to keep the revolution goin.
Nerd's Eye View
JULY 5, 2023
As the U.S. stock market has, on average, outperformed international equities over the last 15 years since emerging from the Great Recession of 2008, many investors argue that international diversification is a poor allocation of dollars that would otherwise be earning more in the U.S. market. The outperformance of U.S. stocks has led to the favoritism of ‘local’ investments over international ones through behavioral biases (e.g., recency bias and the tendency to confuse the familiar
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The Big Picture
JULY 7, 2023
Today, the 500 th episode of Masters in Business drops. 1 I have described the inspiration for the show as “ an audio version of Market Wizards ” but the actual pitch to Bloomberg was “Mark Maron’s WTF meets Charlie Rose” (that was before we knew about his, um, behavior). It has been a wonderful ride, one that I feel grateful and privileged to be on.
Abnormal Returns
JULY 5, 2023
Podcasts Ben Carlson and Michael Batnick talk credit card points with Chris Hutchins, Host of All The Hacks Podcast. (theirrelevantinvestor.com) Chris Alacron talks with Jonathan Clements author of “My Money Journey: How 30 People Found Financial Freedom and You Can Too.” (financiallywelloff.com) Peter Mallouk and Jonathan Clements on the key ingredients of a good retirement.
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 Reformed Broker
JULY 3, 2023
Last month Michael, Duncan and I traveled down to St Petersburg for an event and, while we were there, my friend Shirl Penney set up a conversation with Scotty Neil, the founder of Horse Soldier Bourbon. Scott was part of the elite team of Green Berets who were sent behind the lines in the immediate aftermath of 9/11 to link up with our old mujahideen allies and knock the Taliban out of key Afghan cities.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Big Picture
JULY 6, 2023
Fascinating chart from Visual Capitalist showing the history of housing prices in the United States. I recall the 1990 Home Price recession — I was too broke to afford a condo, but I knew lots of recent grad school friends who took high-paying jobs and bought a place in the 1980s; more than a few were freaked out about falling prices. The issue with rising prices is the ongoing shortage of single-family homes relative to both population and job locations.
Abnormal Returns
JULY 7, 2023
Markets Stop dissing the Dow. (allstarcharts.com) Bitcoin has survived another bear market. (blockworks.co) Strategy Professional investors do better when thinking long term. (sapientcapital.com) What exactly is the problem with index fund concentration? (ft.com) Rates Higher for longer means investors can feast on short term rates. (disciplinefunds.com) Main street banks can no longer get away with paying under-market interest rates on deposits.
The Reformed Broker
JULY 1, 2023
And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. These are the most read posts on the site this week, in case you missed it: . The post This Week on TRB appeared first on The Reformed Broker.
Nerd's Eye View
JULY 4, 2023
Welcome back to the 340th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Melissa Joy. Melissa is the Founder of Pearl Planning, an independent RIA based in Dexter, Michigan, that oversees more than $175 million in assets under management for 251 client households. What's unique about Melissa, though, is how she originally built her career following a path of becoming a partner in a large ensemble firm, but when she finally got the opportunity to make partner sh
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
The Big Picture
JULY 5, 2023
This morning, the WSJ reported that “Consumers expect to see 4.1% inflation a year from now, the lowest such reading in two years and down sharply from its recent peak of 6.8%.” There are some who believe this is good news, but as we pointed out in May , it’s a meaningless, lagging survey. In fact, it may be even worse than that, because it appears that some at the Federal Reserve actually believe the Fed’s own survey of consumers contains information.
Abnormal Returns
JULY 1, 2023
EVs U.S. pedestrian deaths are soaring. (npr.org) Heavier EVs make for heavier auto haulers. RIP, our roads. (slate.com) Recent developments could doom the CSS charging standard in the U.S. (nytimes.com) Oregon is legalizing self-serve pumps. (oregonlive.com) Transport Zero-emission buses are coming. (theverge.com) Joby Aviation ($JOBY) is nearing commercial eVTOL production.
A Wealth of Common Sense
JULY 6, 2023
There was a viral post on Twitter last week about an Airbnb revenue collapse: Sounds scary. According to Elon Musk’s money pit of a company, this tweet had millions of views. A lot of people wanted this to be true because it would show how fragile the housing market is these days. A crash at last! Alas, there was a follow-up fact-check tweet that called into question the veracity of the Airbnb collapse: I’ve.
Nerd's Eye View
JULY 3, 2023
Welcome to the July 2023 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 Pershing X has announced the launch of its long-awaited (and newly renamed) “Wove” advisor technology platform – which despite purporting to be an open-architecture, multi-custodian so
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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.
The Big Picture
JULY 3, 2023
Barry Ritholtz, “Masters in Business” Radio and Podcast Host discusses the environment of hedge funds and the war on talent between them. He speaks with Romaine Bostick and Scarlet Fu on Bloomberg Markets: The Close Vast Majority of Hedgefunds Are Failing to Meet Targets: Ritholtz Source: Bloomberg See also : MiB: Ilana Weinstein Discusses the Hedge Fund War for Talent (July 1, 2023) The post Majority of Hedge Funds Fail to Meet Benchmarks appeared first on The Big Picture.
Abnormal Returns
JULY 5, 2023
Markets It's not just the U.S. stock market that is rallying YTD. (ft.com) Bitcoin and Ethereum are at 52-week highs. (allstarcharts.com) Strategy Six signs to help you avoid 'value traps.' (blog.validea.com) These two quality financials trade at 10-11x earnings. (brklyninvestor.com) Finance If ESG investing can be restricted, then so can religious-focused funds.
A Wealth of Common Sense
JULY 2, 2023
I have a hot take that’s been pre-heating in the over for a while that goes like this: The Big Short by Michael Lewis has lost investors more money than the last 3 bear markets combined. Allow me to explain. We’ve all read (or watched the movie) about the band of misfits who made a contrarian bet against the housing market and made a fortune.
Calculated Risk
JULY 3, 2023
Altos reports that active single-family inventory was up 1.3% week-over-week. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of June 30th, inventory was at 466 thousand (7-day average), compared to 460 thousand the prior week. Year-to-date, inventory is down 5.1%. And inventory is up 14.9% from the seasonal bottom eleven weeks ago.
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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.
The Big Picture
JULY 2, 2023
Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • The Military Recruiting Crisis: Even Veterans Don’t Want Their Children to Join : Pentagon scrambles to retain the main pipeline for new service members as disillusioned families steer young people away. ( Wall Street Journal ) • Middle America’s ‘doom loop’ Work from home is crushing Midwestern downtowns ( Business Insider ) see also St.
Abnormal Returns
JULY 7, 2023
Business Josh Brown and Michael Batnick talk with Darren Rovell about collectibes, sports gambling and the canned cocktail business. (thereformedbroker.com) Eric Newcomer talks the state of early stage venture with Techstars CEO Maëlle Gavet. (newcomer.co) Patrick O'Shaughnessy talks vertical market software with Dave Yuan who is the Founder of Tidemark Capital.
A Wealth of Common Sense
JULY 4, 2023
Last year I was pounding the table on The Bear (Hulu/FX) as one of my new favorite shows. I liked it so much I didn’t really know how a second season would go. I finished season 2 this week and it’s not hyperbole to say it was one of my favorite seasons of any TV show I’ve ever watched. It blew me away how good it was. It reminded me I actually wrote a post last year using one of my favorite scenes with.
Calculated Risk
JULY 7, 2023
From the Association of American Railroads (AAR) Rail Time Indicators. Graphs and excerpts reprinted with permission. Total originated carloads on U.S. railroads were down 0.2% in June 2023 from June 2022 , their first decline in three months. Total carloads in 2023 through June (5.84 million) were up 0.6% (32,547( carloads) over the same period in 2022 and were the highest since 2019.
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
The Big Picture
JULY 1, 2023
This week, we speak with Ilana Weinstein, CEO of hedge fund executive search firm IDW Group. The firm’s practice places senior hedge fund and business professionals across the investment landscape. She holds an MBA from Harvard Business School and a bachelor’s degree from the University of Pennsylvania. We discuss the challenges of attracting and retaining the best talent.
Abnormal Returns
JULY 3, 2023
Fintech Why fintech startups need advisers onboard to help them sell to wealth management firms. (matts-newsletter-7a3f46.beehiiv.com) A round-up of the past month's advisor-tech news including Vanilla's new "estate advisory" platform. (kitces.com) Estate planning Four things to consider in anticipation of 2026. (financial-planning.com) Wealth.com's Ester will help you read estate planning documents.
The Reformed Broker
JULY 6, 2023
Final Trades: Delta, Vertex, Cooper & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
Investment Writing
JULY 6, 2023
If you feel frustrated by coming up with topics for your financial blog, the journalist’s five Ws and one H can help. Below I share a list of 20 topics inspired by the five Ws and one H. As you brainstorm topics, think about how you can solve problems for members of your target audience. This will make your posts relevant to them. For help with this, read “ WHAT PROBLEM does this blog post solve for them?
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.
The Big Picture
JULY 4, 2023
The transcript from this week’s, MiB: Ilana Weinstein Discusses the Hedge Fund War for Talent , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , Bloomberg , Stitcher , Google , and YouTube. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ Ilana Weinstein on the War for Talent at Hedge Funds (Podcast) ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio.
Abnormal Returns
JULY 6, 2023
Crypto What changed Blackrock's idea about crypto? (coindesk.com) Why so many celebrities got caught up in the crypto craze. (nytimes.com) Venture capital AI startups continue to gain venture interest. (news.crunchbase.com) Later stage companies are feeling the venture pullback. (venturebeat.com) Threads Hands on with Meta's ($META) Twitter clone, Threads.
Calculated Risk
JULY 6, 2023
From the BLS: Job Openings and Labor Turnover Summary The number of job openings decreased to 9.8 million on the last business day of May , the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations were little changed at 6.2 million and 5.9 million, respectively. Within separations, quits (4.0 million) increased, while layoffs and discharges (1.6 million) changed little. emphasis added The following graph shows job openings (black line), hires
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