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Here is another monthly update on lumber prices. SPECIAL NOTE: The CME group discontinued the Random Length Lumber Futures contract on May 16, 2023. I switched to a physically-delivered Lumber Futures contract that was started in August 2022. Unfortunately, this impacts long term price comparisons since the new contract was priced about 24% higher than the old random length contract for the period when both contracts were available.
@TBPInvictus here If you’re tired of California-minimum-wage-and-its-impact-on-limited-service-restaurant-employment stories, I understand. Leave this page immediately. I’m tired of it, too, but some stories are so factually challenged that they demand a response. So, allow me to address a hot mess of a story that appeared recently in the California Globe.
Top clicks this week How major asset classes performed in June 2024. (capitalspectator.com) Just how useful is historical financial markets data? (retirementresearcher.com) Don't forget, stocks are real assets. (downtownjoshbrown.com) Europe's stock market has badly lagged the U.S. How much longer can it last? (awealthofcommonsense.com) Beware small sample sizes.
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.
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 around 8% year-over-year. This declined, but has turned up recently, and is now up 4.8% YoY. Click on graph for larger image. This graph shows the YoY price change for Services and Services less rent of shelter through May 2024.
A quick break from book duty and doing our quarterly client call to share this fascinating discussion from tennis great Roger Federer: “In the 1,526 singles matches I played in my career, I won almost 80% of those matches… What percentage of the POINTS do you think I won in those matches? Only 54%.” -Roger Federer This is one of those great commencement addresses that will only gain stature over time.
Autos How 'electric trees' could allow for charging on city streets. (thecooldown.com) Where an EV saves you money, by state. (axios.com) Why choose a self-driving taxi? (fastcompany.com) Energy Clean energy is being transported over even longer distances. (wsj.com) What's the ideal temperature to set your AC? (vox.com) Solar panels need regular maintenance.
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications decreased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 5, 2024. Last week’s results included an adjustment for the July 4th holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.2 percent on a seasonally adjusted basis from one week earlier.
The Tax Cuts and Jobs Act (TCJA), passed in 2017, was one of the most extensive pieces of tax legislation to be passed in the last 30 years, touching many aspects of individual, corporate, and estate tax. However, most of TCJA's provisions are set to 'sunset' at the end of 2025 – an event that would have at least as much impact as TCJA's initial passage.
Today, the conversation isn’t led by you saying, “Let me tell you about our firm.” It’s led by prospects saying, “Hey, I’ve been following your content, and now I want to meet.
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
Defense How Russia has adapted to Western weapons in Ukraine. (wsj.com) Advances in drone warfare has happened outside the purview of the defense giants. (on.ft.com) GPS is increasingly under attack. (nytimes.com) Gambling Stock trading continues to migrate onto smartphones and apps. (bloomberg.com) Smartphones and ubiquitous gambling go hand-in-hand.
The BLS reported yesterday: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.3 percent over the last 12 months to an index level of 308.163 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment. CPI-W is the index that is used to calculate the Cost-Of-Living Adjustments (COLA).
Source: New York Times The NYT: The final votes in Britain’s parliamentary elections are still being counted, but one thing is crystal clear: After 14 years in power, the Conservative Party is out. More than that: It’s been thoroughly punished by the British public, reduced to barely 120 seats, the party’s worst result in its history. Several prominent figures — including former Prime Minister Liz Truss — lost their seats.
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.
Podcasts Barry Ritholtz talks with William Bernstein about changing your behavior for the better. (ritholtz.com) Sam Parr talks with Scott Galloway author of "The Algebra of Wealth: A Simple Formula for Financial Security." (podcasts.apple.com) Dan Haylett talks with David Blanchett about swapping 'financial independence' for retirement. (humansvsretirement.com) Thomas Kopelman and Jacob Turner talk retirement planning with Taylor Schulte.
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores • Moody's: Apartment Vacancy Rate Unchanged in Q2; Office Vacancy Rate at New Record High • ICE Mortgage Monitor: Existing Home Inventory Surges in Florida and Texas • Asking Rents Mostly Unchanged Year-over-year • Final Look at Local Housing Markets in May and a Look Ahead to June Sales This is usually published 4 to 6 t
Welcome everyone! Welcome to the 393rd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Alex Lewis. Alex is the owner of Blackbridge Financial, a hybrid advisory firm based in Irmo, South Carolina, that oversees approximately $330 million in assets under management for 415 client households. What's unique about Alex, though, is how, at age 29, he took on a multi-million-dollar loan to purchase the firm from its founder as his successor, and, in the 4 years since,
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?
Finance Why Bill Ackman spends so much time on Twitter. (sherwood.news) Hedge funds are boosting their electricity trading capabilities. (wsj.com) Human FX traders are getting replaced by algorithms. (bloomberg.com) Why you should expect to see more ETFs designed by, and for, institutional investors. (institutionalinvestor.com) Housing Housing supply and affordability go hand-in-hand.
From Dodge Data Analytics: Dodge Momentum Index Gained 10% in June The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 10.4% in June to 198.6 (2000=100) from the revised May reading of 179.9. Over the month, commercial planning increased 14.5% and institutional planning ticked up 0.2%. “Data centers continued to dominate planning projects in June – fueling another strong month for commercial planning,” stated Sarah Martin, associate director of forecasting at Dodge Co
After several turbulent years in both markets and workforces, 2024 appears to be the 'most normal' year of late, with strong market performance, cooling (or at least no longer rising!?) interest rates, and relatively little new tax legislation (yet). Yet the need for advisor education – and the regulatory requirements to get it (in the form of Continuing Education obligations) – never ends, with the latest focus for most financial advisors being on the ongoing expansion of NASAA's 20
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
The biz How a podcast network makes money. (linkedin.com) Spotify ($SPOT) has a bundling problem. (vox.com) Global Tyler Cowen talks with Brian Winter discuss the politics and economics of nearly every country from the equator down. (conversationswithtyler.com) Russell Napier talks with Harold James, author of "Seven Crashes: The Economic Crises That Shaped Globalisation.
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday: • At 8:30 AM: The Consumer Price Index for June from the BLS. The consensus is for a 0.1% increase in CPI, and a 0.2% increase in core CPI. The consensus is for CPI to be up 3.1% year-over-year and core CPI to be up 3.4% YoY. 8:30 AM: The initial weekly unemployment claims report will be released.
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • These people still believe in democracy (little d) and are working to keep it. On this July 4th holiday, America’s system of democracy is under threat. These people are working to keep it alive and well. ( USA Today ) • The Fried Chicken Sandwich Wars Are More Cutthroat Than Ever Before : Here’s why everyone from fast-casual chains to chefs at Michelin-starred resta
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.
Asset pricing The CAPM doesn't work. Maybe this measure does. (klementoninvesting.substack.com) Brown stocks outperform green stocks. (alphaarchitect.com) Hedge funds Replicating multi-strategy hedge fund returns is kind of a waste. (insights.finominal.com) Do even failed activist investors help stock prices? (klementoninvesting.substack.com) Quant stuff More research is being done on the interaction between social media and market outcomes.
Altos reports that active single-family inventory was up 1.1% week-over-week. Inventory is now up 32.1% from the February seasonal bottom, and at the highest level since July 2020. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of July 5th, inventory was at 653 thousand (7-day average), compared to 646 thousand the prior week.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that at a time when employee retention has heightened importance for advisory firms given the ongoing competition for advisor talent, recent studies indicate that factors such as firm culture and leadership, as well as providing advisors with a sense of autonomy, can play important roles in building advisor loyalty to the firm.
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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