Alpha Architect
FEBRUARY 28, 2023
In this article, the authors examine the research on the benefits of international diversification. Some argue that because equity markets generally crash simultaneously, there are no benefits to having equity diversification. The evidence from this paper rejects this hypothesis. Does International Diversification Work? was originally published at Alpha Architect.
Calculated Risk
MARCH 2, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Feb 25, 2023 • Active inventory growth continued to climb with for-sale homes up 67% above one year ago. Inventories of for-sale homes rose again, but climbed on par with last week’s pace, which was a slightly slower yearly pace than we saw late January and early February.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
The Big Picture
MARCH 3, 2023
Have a look at the BAML chart above. 1 It is one of my favorites, but for reasons that might not be readily apparent at first glance. The chart shows the peak-to-trough declines of all the bear markets with the popular definition of a 20% decline, measured up until the start of the first 20% rally. 2 The current move from 2021 highs is shown in red.
Wealth Management
MARCH 2, 2023
Depending on where your clients live, property taxes can be a small inconvenience or a major burden.
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
The Reformed Broker
FEBRUARY 26, 2023
Act I Our hero Josh Brown spends a decade working at a succession of third-tier brokerage firms on Long Island and in New York City. He’s in his early twenties and knows less than nothing about stocks, bonds, mutual funds, investing, the economy, financial advice or anything else germane to the profession. He works for thieves, hustlers, well-meaning know-nothings and the morally compromised, men who will say and se.
Calculated Risk
FEBRUARY 28, 2023
The FDIC released the Quarterly Banking Profile for Q4 2022: Reports from 4,706 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reflect aggregate net income of $68.4 billion in fourth quarter 2022, a decrease of $3.3 billion (4.6 percent) from the third quarter. Lower noninterest income and higher provision expenses offset an increase in net interest income.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Wealth Management
FEBRUARY 28, 2023
Many long-term owners are starting to recognize their upside in the near future is gone, yet their management headaches and expenses remain.
Nerd's Eye View
MARCH 1, 2023
When holding discovery meetings with a prospective client, financial advisors often ask the prospect about their goals. The hope is that these conversations will help the prospect ease into a positive frame of mind (by thinking about a vacation, retirement, or another future aspiration) and, at the same time, present the advisor with an opportunity to show how their services can help the prospect achieve their goals.
Calculated Risk
MARCH 1, 2023
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 5.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 24, 2023. The Market Composite Index, a measure of mortgage loan application volume, decreased 5.7 percent on a seasonally adjusted basis from one week earlier.
The Big Picture
MARCH 2, 2023
Fascinating dive into rent increases on a county by county basis via USAFacts: Rents rose in 58% of all counties nationwide between 2020 and 2023. Data shows that rents rose and dipped between neighboring zip codes. Housing prices jumped during the COVID-19 pandemic as remote work caused many Americans to reconsider their living situations. Rent prices also rose, with inflation-adjusted median rent growing from $1,163 in 2019 to $1,191 in 2021, according to the US Census Bureau.
Advertisement
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.
Wealth Management
MARCH 1, 2023
Ohio-based Clearstead Advisors, a private equity-backed RIA with $28 billion in client assets, has purchased a second trust business.
Abnormal Returns
MARCH 3, 2023
The biz There's really no distinction between podcasts and audiobooks. (hollywoodreporter.com) Podcasts are coming to YouTube Music. (techcrunch.com) Nicole Lapin is launching the Money News Network. (variety.com) Startups Patrick O'Shaughnessy talks with Doug Leone who is a long time Partner at Sequoia Capital (joincolossus.com) David Cover and Brett Beshore talk with Anu Hariharan of YCombinator about managing small businesses.
Calculated Risk
MARCH 2, 2023
From CoStar: STR: Weekly US Hotel Occupancy Eclipses 64% U.S. hotel performance increased from the previous week, according to STR‘s latest data through Feb. 25. Feb. 19-25, 2023 (percentage change from comparable week in 2019*): • Occupancy: 64.2% (-1.5%) • Average daily rate (ADR): US$156.51 (+22.2%) • Revenue per available room (RevPAR): US$100.43 (+20.3%) *Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
The Big Picture
FEBRUARY 27, 2023
My back-to-work morning train WFH reads: • How to Print Money : Cash may seem old-fashioned these days — but in much of the world, cash is still king. The process of making money requires teams of experienced designers and engravers who etch the plates with portraits, vignettes, lettering and ornamentation. The designs are crafted with both aesthetics and security in mind. ( New York Times ) • Apartment Rents Fall as Crush of New Supply Hits Market : Declines signal tenants may be maxed-ou
Advertisement
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?
Wealth Management
FEBRUARY 28, 2023
New York-based Ritholtz Wealth Management will take over the direct-to-consumer robo business from FutureAdvisor.
Abnormal Returns
FEBRUARY 27, 2023
Podcasts Christine Benz and Jeff Ptak talk with Derek Tharp about retirement-spending strategies, sequence risk, and portfolio construction. (morningstar.com) Daniel Crosby talks with Rachel J. Robasciotti is the Founder and CEO of Adasina Social Capital. (standarddeviationspod.com) Michael Kitces talks with Danqin Fang who is a Lead Advisor for Austin Asset, an independent RIA.
Calculated Risk
MARCH 1, 2023
From the Census Bureau reported that overall construction spending decreased: Construction spending during January 2023 was estimated at a seasonally adjusted annual rate of $1,825.7 billion, 0.1 percent below the revised December estimate of $1,827.5 billion. The January figure is 5.7 percent above the January 2022 estimate of $1,726.6 billion. emphasis added Private spending was "virtually unchanged" and public spending decreased: Spending on private construction was at a seasonally adjusted a
The Big Picture
MARCH 3, 2023
My end-of-week, Non-NonFarmPayroll, morning train WFH reads: • American workers aren’t returning to the office like their international counterparts—here’s why : Even as people got vaccinated and Covid restrictions eased over the years, U.S. office occupancy remains stagnant around 40% to 60% of pre-pandemic levels, Meanwhile, office attendance has returned to 70% to 90% in Europe and the Middle East, and around 80% to 110% in some Asian cities, meaning some workers are spending more time in the
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
Wealth Management
MARCH 2, 2023
Falcon, with more than $500 million in assets under management, has made its first acquisition as the firm considers taking on a capital partner.
Abnormal Returns
MARCH 3, 2023
Markets Retail investors can't quit Tesla ($TSLA) stock. (wsj.com) Softbank is planning to IPO chip maker Arm Holdings in New York. (cnbc.com) Short-dated options are distorting market data. (ft.com) Strategy When does it make sense to take on duration in your bond portfolio? (awealthofcommonsense.com) Index funds have two major advantages. (morningstar.com) Berkshire Hathaway Evidence that Warren Buffett has become less verbose over time.
Calculated Risk
MARCH 2, 2023
Today, in the Calculated Risk Real Estate Newsletter: Year-over-year Rent Growth Continues to Decelerate A brief excerpt: The rental market has changed significantly from 2021 and the first half of 2022. Here is a graph of the year-over-year (YoY) change for these measures since January 2015. Most of these measures are through January 2023, except CoreLogic is through December and Apartment List is through February 2023.
The Big Picture
MARCH 2, 2023
My morning train WFH reads: • All the recessions that didn’t happen. The future doesn’t always cooperate with the present because whatever is going to happen hasn’t happened yet. So forecasters are frequently wrong. They’ll never stop forecasting, but their recent track record should make you skeptical every time you hear somebody predicting a recession. ( Yahoo Finance ) • World’s Rich Take Advantage as $1 Trillion Property Market Craters : Wealthy investors were the most active buyers of comme
Speaker: Sierre Lindgren
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
Wealth Management
MARCH 1, 2023
Tax benefits are typically secondary factors with large gifts.
Abnormal Returns
FEBRUARY 26, 2023
Berkshire Hathaway Some of the best nuggets from Warren Buffet's latest shareholder letter. (investmenttalk.substack.com) Warren Buffett has been badmouthing GAAP for awhile now. (tker.co) A link to the 2022 Berkshire Hathaway ($BRK.A) annual shareholder report. (berkshirehathaway.com) Warren Buffett isn't shy about admitting mistakes. (bloomberg.com) Companies Why you shouldn't fall in love with companies.
Calculated Risk
MARCH 2, 2023
From Matthew Graham at Mortgage News Daily: Mortgage Rates Now Back Above 7% Mortgage rates have been hit hard on two fronts over the past month. The first front is the obvious one: the bond market has moved in a way that forces rates to go higher. To be fair, it's almost always the bond market that forces rates to go wherever they're going. There's a different problem in the "everything else" category right now.
Nerd's Eye View
MARCH 3, 2023
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that amid economic and market headwinds, the pace of RIA M&A activity was slower in January and February compared to the same period last year. If this trend continues, 2023 would be the first year in more than a decade to see fewer transactions than the year before, though some industry observers continue to see significant appetite for deals.
Advertisement
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.
Wealth Management
FEBRUARY 27, 2023
Private real estate investors have lowered targeted IRRs, but market conditions make it tough to find deals that pencil out.
Abnormal Returns
MARCH 1, 2023
Podcasts Peter Lazaroff talks with Robin Powell about evidence-based investing. (peterlazaroff.com) The Mad Fientist talks with Ramit Sethi author of "I Will Teach You to Be Rich." (madfientist.com) Retirement Why retirement planning is not easy - uncertainty. (awealthofcommonsense.com) Some questions you need to ask yourself about retirement. (humbledollar.com) If you love something, why wouldn't you want to do it indefinitely?
Calculated Risk
FEBRUARY 28, 2023
Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index "Decline Continued" to 5.8% year-over-year increase in December Excerpt: Both the Case-Shiller House Price Index (HPI) and the Federal Housing Finance Agency (FHFA) HPI for December were released today. Here is a graph of the month-over-month (MoM) change in the Case-Shiller National Index Seasonally Adjusted (SA).
The Big Picture
MARCH 1, 2023
I did a brand new presentation last week, the first one since the pandemic lockdown began 3 years ago this month. I mentioned how much fun it was to get back on stage , but it definitely took a while to settle into a groove. Haven’t brought myself to watch the full discussion yet, but from the first 5 minutes you can see lots of excess nervous energy and pacing about the stage.
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.
Expert insights. Personalized for you.
137 
Let's personalize your content