The Big Picture
AUGUST 12, 2024
I’m deep in my book writing work discussing federal debt when I see a tweet that simply epitomizes the entire genre. Full disclosure: My priors on federal debt are that I don’t know where the line of too much should be drawn, but I do know that none of the terrible things we were warned about over the past 50 years due to excess debt have come to pass.
Wealth Management
AUGUST 14, 2024
The agency doesn’t have the authority to fully forgive fines and interest.
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Calculated Risk
AUGUST 13, 2024
Fannie reported results for Q2 2024. Here is some information on single-family Real Estate Owned (REOs). Fannie Mae reported the number of REOs decreased to 7,179 at the end of Q2 2024, down 10% from 7,971 at the end of the previous quarter, and down 17% year-over-year from Q2 2023. For Fannie, this is down 96% from the 166,787 peak number of REOs in Q3 2010.
Abnormal Returns
AUGUST 11, 2024
Top clicks this week Good luck trying to figure out the stock market these days. (sherwood.news) The stock market is not economy, and vice versa. (awealthofcommonsense.com) On the differences between individual bonds and bond funds. (humbledollar.com) What to do the next time the stock market tanks. (tonyisola.com) You may be surprised by what Olympians eat.
Speaker: David Worrell, CFO, Author & Speaker
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.
The Big Picture
AUGUST 11, 2024
Our story so far : Stuck at home over the pandemic, it was a perfect time to revisit a pastime of my youth – buying cheap beater cars, and turning them into something fun and worthwhile. Only this time, I have a lifetime of experience with what does and doesn’t work well, along with a somewhat more generous budget. All of this got restarted about a decade ago; I was personalizing a 2013 flood salvage-title Rubicon ; it reminded me how much fun it was to do these little projects.
Wealth Management
AUGUST 12, 2024
Our columnist sees the future of wealthtech in a small band of young entrepreneurs solving the “lead generation” problem.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
AUGUST 14, 2024
Companies Mars Inc. is buying Cheez-It maker Kellanova ($K). (wsj.com) Tilray Brands ($TLRY) has acquired four craft breweries from Molson Coors ($TAP). (finance.yahoo.com) Finance How much of the work of a junior analyst can be done by AI? (ft.com) Reverse stock splits are usually a last ditch effort. (sherwood.news) Fund management Ten questions for Vanguard's new CEO Salim Ramji.
Nerd's Eye View
AUGUST 16, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Securities and Exchange Commission (SEC) announced that a total of 26 broker-dealers, investment advisers, and dually-registered firms agreed to pay combined civil penalties of almost $400 million for failing to maintain and preserve required records for "off-channel" communications, signaling the regulator's interest in cracking down on text messages and other communi
Wealth Management
AUGUST 13, 2024
The finalization of the actress’ divorce gave her control over her estate plan.
Calculated Risk
AUGUST 14, 2024
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey Mortgage applications increased 16.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 9, 2024. The Market Composite Index, a measure of mortgage loan application volume, increased 16.8 percent on a seasonally adjusted basis from one week earlier.
Speaker: Erroll Amacker
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
Abnormal Returns
AUGUST 14, 2024
Podcasts Barry Ritholtz talks with Meir Statman, author of “A Wealth of Well-Being: A Holistic Approach to Behavioral Finance.” (ritholtz.com) Carl Richards talks money mindfulness with Sharon Salzberg. (50fires.com) Steve Chen talks financial education with Tim Ranzetta, founder of Next Generation Personal Finance. (newretirement.com) Jess Bost and Mark Newfield talk with Dave Nadig about planning for big professional transitions.
Nerd's Eye View
AUGUST 12, 2024
In the modern era of financial advice, the advicer/client relationship is tightly centered on trust. And because of that foundation of trust, in an ideal advisor/client relationship, mistakes, disagreements, and concerns are surfaced quickly; action items are agreed and acted upon by everyone involved; and everyone feels aligned and accountable to their overall objectives.
Wealth Management
AUGUST 16, 2024
Some athletes might see a tax bill for their Olympics triumphs.
Calculated Risk
AUGUST 13, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-August 2024 A brief excerpt: This 2-part overview for mid-August provides a snapshot of the current housing market. I always focus first on inventory, since inventory usually tells the tale ! Here is a graph of new listing from Realtor.com’s J uly 2024 Monthly Housing Market Trends Report showing new listings were up 3.6% year-over-year in June.
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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.
Abnormal Returns
AUGUST 15, 2024
Business Another example of advisors getting rich while their clients underperform to the tune of billions. (bloomberg.com) Pixar bounced back with 'Inside Out 2' but you shouldn't expect a return to the company's golden age. (readtrung.com) How the U.S. fell behind in the drone business. (noahpinion.blog) How the magazine business died. (honest-broker.com) Companies Nine takeaway from six months of the Apple ($AAPL) Vision Pro.
The Big Picture
AUGUST 10, 2024
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The End of Spam: Robocalls and texts… your days are numbered : The industry blasting your phone with spam calls and texts is about to implode. The feds could throw a wrench into the opaque, sometimes sketchy, and incredibly lucrative lead-generator industry. ( Sherwood ) • The Well-Off People Who Can’t Spend Money : Tightwads drag around a phantom limb of poverty, no
Wealth Management
AUGUST 12, 2024
Estate planning and financial planning are two peas in a pod that are becoming inextricably tied.
Calculated Risk
AUGUST 14, 2024
The BLS reported this morning: The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.9 percent over the last 12 months to an index level of 308.501 (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).
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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?
Abnormal Returns
AUGUST 15, 2024
Companies Brian Niccol has his hands full with turning around Starbucks ($SBUX). (barrons.com) Apple ($AAPL) stock was a much bigger bargain when Buffett first purchased shares. (bloomberg.com) Why Airbus has been unable to take full advantage of Boeing's ($BA) woes. (nytimes.com) Finance It seems the SEC will approve just about any ETF these days. (ft.com) What VC returns look like in the real world.
A Wealth of Common Sense
AUGUST 16, 2024
I’m a neat freak, so occasionally, I clean out my office and re-organize. While doing so earlier this week I came across an old Life magazine a reader sent me a number of years ago. It’s from June 1962 and the stock market was the cover story: The pictures are fantastic. So was the lede of the story: The signs, like rumblings of an Alpine ice pack at the time of thaw, had been heard.
Wealth Management
AUGUST 15, 2024
A new study claims that for every dollar spent on sports gambling, net investments in stocks and other financial instruments dropped by just over $2.
Calculated Risk
AUGUST 14, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 2: Current State of the Housing Market; Overview for mid-August 2024 A brief excerpt: Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-August 2024 I reviewed home inventory, housing starts and sales. In Part 2, I will look at house prices, mortgage rates, rents and more.
Speaker: Aaron Berson
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
Abnormal Returns
AUGUST 13, 2024
Venture capital There is nothing normal about the distribution of angel investment returns. (blogs.cfainstitute.org) How VCs drive media coverage of their portfolio companies. (papers.ssrn.com) Research How long can stocks underperform inflation? (ofdollarsanddata.com) Retail trading frenzies can have real world impacts. (papers.ssrn.com) How much protection do individual investors need?
A Wealth of Common Sense
AUGUST 13, 2024
Do you know how long we’ve been in a recession for since the end of the Great Financial Crisis? Two months. In 15 years, the U.S. economy has been in a recession for just two months! That’s roughly 1% of the time, meaning that since July 2009, the United States has avoided a recession 99% of the time.
Wealth Management
AUGUST 14, 2024
More than two dozen broker/dealers and RIAs agreed to pay a combined $392.75 million in penalties, including Raymond James, LPL, Edward Jones and Osaic, among others.
Calculated Risk
AUGUST 12, 2024
Altos reports that active single-family inventory was up 1.3% week-over-week. Inventory is now up 40.2% from the February seasonal bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of August 9th, inventory was at 693 thousand (7-day average), compared to 684 thousand the prior week. This is the highest level of inventory since June 2020 ; however, inventory is still well below pre-pandemic levels.
Speaker: Sierre Lindgren
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.
Abnormal Returns
AUGUST 12, 2024
Fidelity Fidelity has released two technology packages for small and mid-sized RIAs. (citywire.com) Hopes are high for the Fidelity/Advyzon service offering. (riabiz.com) Altruist Altruist is shifting more clients onto its own custodian platform. (riabiz.com) The latest in financial advisortech including a look at Altruist' new product offerings. (kitces.com) Advisers Why private equity is going after retail investors: fees, high fees.
A Wealth of Common Sense
AUGUST 15, 2024
My colleague Alex Palumbo joined us on the show this week to discuss questions about how to deploy a big chunk of cash savings, how to diversify out of company stock, benchmarking financial performance and how to think about alpha when it comes to choosing a financial advisor. Further Reading: The Holy Grail of Portfolio Management 1The S&P 500 was up 9.8% per year while the 10 year Treasury gained 4.6% annually from.
Wealth Management
AUGUST 15, 2024
Take these steps to ensure your RIA is ready for an influx in advisors and clients.
Calculated Risk
AUGUST 16, 2024
From the Census Bureau: Permits, Starts and Completions Housing Starts: Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,238,000. This is 6.8 percent below the revised June estimate of 1,329,000 and is 16.0 percent below the July 2023 rate of 1,473,000. Single-family housing starts in July were at a rate of 851,000; this is 14.1 percent below the revised June figure of 991,000.
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