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Last weeks comments, Tune Out the Noise , was my suggestion that investors should not get drawn into the firehose of noise, partisan wrestling matches, and trolling generated by the new administration. My emphasis was on staying focused on the long term. This includes setting goals, having a financial plan, and acknowledging our collective inability to predict the outcomes of geopolitical events (either domestic or overseas).
From housing economist Tom Lawler: Treasury Secretary Wrongly Says Fed Has Been Big Seller of Treasuries In an interview last week, Treasury Secretary Bessent said that any plans by the Treasury to extend the maturity were a long ways off. One of the reasons cited by Secretary Bessent was the Federal Reserves current balance sheet runoff policy. Here is a quote from Bessent.
Parents often want to ensure their children have the resources to pursue their potential and lead fulfilling lives. To achieve this, financial support may start at a very young age, allowing for a longer growth horizon and, in many cases, serving tax and estate planning purposes. However, once a child reaches the age of majority, they may not always be in a position to manage assets responsibly.
Top clicks this week Successful investing is about avoiding unforced errors. (ritholtz.com) Josh Brown, "Every entrepreneur I talk to in the wealth business is scrambling to add services, not cut fees." (downtownjoshbrown.com) On the looming adviser shortage, per McKinsey. (mckinsey.com) This company has thoroughly scrubbed any mention of diversity, inclusion or DEI from its SEC filings.
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
The transcript from this weeks, MiB: Charley Ellis on Rethinking Investing , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ This is Masters in Business with Barry Ritholtz on Bloomberg Radio.
This morning, Carl Quintanilla posted a graph on Bluesky from BESPOKE suggesting the US is heading towards a recession. Quintanilla quoted BESPOKE: On a 12-month average basis, Housing Starts have completely rolled over from their peak. . Recessions have always followed a rollover in Housing Starts, and the only question is timing. Housing is the basis of one of my favorite models for business cycle forecasting.
Early in a firm's life cycle, a founder might take on nearly any client (and their fees) just to generate enough revenue to 'keep the lights on'. However, as the firm grows, some of those early clients may no longer be profitable to serve – especially if they generate lower fees than newly onboarded clients. Which leaves the firm founder faced with a difficult decision: Should they continue serving these unprofitable (or less-profitable) clients or 'graduate' them to a different service mo
Early in a firm's life cycle, a founder might take on nearly any client (and their fees) just to generate enough revenue to 'keep the lights on'. However, as the firm grows, some of those early clients may no longer be profitable to serve – especially if they generate lower fees than newly onboarded clients. Which leaves the firm founder faced with a difficult decision: Should they continue serving these unprofitable (or less-profitable) clients or 'graduate' them to a different service mo
Podcasts Sam Dogen talks with Dr. Jordan Grumet author of "The Purpose Code." (sites.libsyn.com) Katie Gatti Tassin talks with Jeremy Porter about how home insurance and climate change are affecting the housing market. (podcast.moneywithkatie.com) Jim Dahle talks with Devon Gimbel and Lisha Taylor about maximizing travel rewards. (whitecoatinvestor.com) Carl Richards talks minimalism, wealth and happiness with Joshua Becker.
The top 10% owns 87% of the stocks in this country. They also own 84% of the private businesses, 44% of real estate and two-thirds of overall wealth. These numbers have all increased since 1989 as well — total wealth (60.8% to 67.3%), stocks (81.7% to 87.2%), private businesses (78.4% to 84.4%) and real estate (38.2% to 43.9%). According to The Wall Street Journal, the top 10% also accounts for 50% of all consumer.
From the NAR: Pending Home Sales Waned 4.6% in January Pending home sales pulled back 4.6% in January according to the National Association of REALTORS. The Midwest, South and West experienced month-over-month losses in transactions with the most significant drop in the South while the Northeast saw a modest gain. Year-over-year, contract signings lowered in all four U.S. regions, with the South seeing the greatest falloff.
Welcome everyone! Welcome to the 426th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jennifer des Groseilliers. Jennifer is the CEO of The Mather Group, an RIA based in Chicago, Illinois, that oversees $15 billion in combined assets under management and advisement for approximately 4,400 client households. What's unique about Jennifer, though, is how her firm has rolled out an equity compensation plan, built around providing grants based on performance and mee
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
The weekend is here! Pour yourself a mug of Colombia Tolima Los Brasiles Peaberry Organic coffee, grab a seat by the fire, and get ready for our longer-form weekend reads: Trust in a Black Hat World : Investors and Advisors, on the state of markets, and the state of ETFs: You are on your own. There are few left to trust. ( Echo Beach ) Why Japan Succeeds Despite Stagnation : For more than three decades, Japan has endured near-complete economic stagnation.
ETFs Private shares in a public ETF. The case of the ERShares Private-Public Crossover ETF ($XOVR) (morningstar.com) Leveraged ETFs are not for holding. (theblock.co) Big Tech Apple ($AAPL) is finally replacing Qualcomm ($QCOM) modems. (macworld.com) Microsoft ($MSFT) is letting Softbank take the lead with OpenAI. (spyglass.org) Amazon ($AMZN) Alexa+, powered by AI, is coming.
Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 3.9% year-over-year in December Excerpt: S&P/Case-Shiller released the monthly Home Price Indices for December ("December" is a 3-month average of October, November and December closing prices). December closing prices include some contracts signed in August, so there is a significant lag to this data.
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 hottest chart in the markets right now is not Nvidia, Fartcoin or one of the quantum computing stocks…it’s the price of eggs: It looks like a chart of Bitcoin, Gamestop or the hottest AI stock on the street. Since 1947, the price of eggs has grown at an annual rate of 2.4%, more than one percent lower than the overall annual inflation rate of 3.5%.
Podcasts Christine Benz and Amy Arnott talk with Preston Cherry, author of a new book "Wealth in the Key of Life: Finding Your Financial Harmony." (morningstar.com) Carl Richards and Michael Kitces on whether a client should take time before coming on as a client. (kitces.com) Morningstar Why Morningstar ($MORN) is getting out of the RIA software business.
The Census Bureau reports New Home Sales in January were at a seasonally adjusted annual rate (SAAR) of 657 thousand. The previous three months were revised up. Sales of new single-family houses in January 2025 were at a seasonally adjusted annual rate of 657,000 , according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
The Utah-based broker petitioned the nations highest court to consider hearing its appeal questioning the self-regulatory organizations constitutionality. One securities attorney questions whether the Court will do soat least for now.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
The life insurance and financial services industry is evolving rapidly, and advisors who embrace technology have a competitive edge. Thats why I, Ken Leibow, Founder and CEO of InsurTech Express, have partnered with Nick Bowman, CFP, MS, CEP, Co-founder & Head of Sales at Xcela, to bring you this actionable guide on leveraging AI to enhance your practice.
Markets The chances of you successfully timing the market based on macro stuff is slim. (awealthofcommonsense.com) Would you invest in Norway's sovereign wealth fund if you could? (ft.com) Berkshire Hathaway Geico was the star of Berkshire Hathaway's ($BRK.A) 2024 results. (newsletter.rationalwalk.com) Berkshire's portfolio highlights the impact of a few key positive outliers.
Today, in the Calculated Risk Real Estate Newsletter: New Home Sales Decrease to 657,000 Annual Rate in January Brief excerpt: The Census Bureau reported New Home Sales in January were at a seasonally adjusted annual rate (SAAR) of 657 thousand. The previous three months were revised up. The next graph shows new home sales for 2024 and 2025 by month (Seasonally Adjusted Annual Rate).
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?
Here are some things I think I am thinking about this weekend: 1) A Negative GDP NOW Print!?! It was a wild week in the markets, but the biggest news of the week dropped on Friday when the Atlanta Fed revised their GDP Now estimate from +2.3% to -1.5%. Yes, you read that correctly. NEGATIVE 1.5%. That’s a reduction of 3.8%. What in the world just happened?
By Roy Hall, ADFP, CCFP There are times when hiring and retaining effective back-office staff can be daunting, especially if you’re a financial advisor in an environment with extensive regulatory oversight. This requires staff who are up to date on regulations and who pay attention to crucial details. One solution I learned from an MDRT friend was to outsource to offshore virtual assistants.
Altos reports that active single-family inventory was up 0.3% week-over-week. Inventory always declines seasonally in the Winter and usually bottoms in January or February. Inventory is now up 2.5% from the bottom six weeks ago in January. The first graph shows the seasonal pattern for active single-family inventory since 2015. Click on graph for larger image.
Matt Schlueter, an executive vice president of products and platform, will step into the leadership role. Meanwhile, Greg Cornick and Ed Swenson lose their 'president' titles.
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
– And by lately, I mean the past several years or more. The value of the S&P 500 index of stocks, where most of us hopefully have a good chunk of our retirement savings stashed into index funds, is up about fifty seven percent in just the past two years. And it has more than doubled in the past five. S&P returns (including dividends) since 2019, graph by the excellent portfolio visualizer website.
Chatting with Tom Keene and Paul Sweeney on Bloomberg Surveillance about investing strategies and mistakes… The post Talking Bad Trades & Regret Minimization appeared first on The Big Picture.
Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 1.0% Below 2022 Peak Excerpt: It has been over 18 years since the housing bubble peak. In the December Case-Shiller house price index released this week, the seasonally adjusted National Index (SA), was reported as being 77% above the bubble peak in 2006. However, in real terms, the National index (SA) is about 12% above the bubble peak (and historically there has been an upward slope to real house prices).
The SEC's worries over the Apollo Global/State Street private credit ETF center on the funds liquidity, its name and its ability to comply with valuation rules.
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.
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