The Big Picture
SEPTEMBER 14, 2022
The First Totally Honest Stock Market Story. FRIDAY’S MARKETS. By Vinnie Foster Wynans III. Staff Reporter of The Wall Street Journal. The market rallied early this morning for reasons nobody understands and nobody predicted. CNBC analysts confidently asserted it had something to do with the Senegalese money supply but others pointed to revised monthly figures showing a poor tuna haul off the Peruvian coast.
The Reformed Broker
SEPTEMBER 16, 2022
Thank you all for coming and for all the amazing feedback for the event we threw this week. It was a long time in the making and such a whirlwind. I am still recovering and resting up. I will have more to say soon, but for now here are some great shots of Future proof 2022. The post Pics from Future Proof Festival 2022 appeared first on The Reformed Broker.
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Nerd's Eye View
SEPTEMBER 16, 2022
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with a report from Future Proof, dubbed the “world’s largest wealth festival”, held this week on(!) Huntington Beach, California. In addition to being held outdoors, the event stood out from ‘standard’ industry conferences in other ways, from the wide scope of its content to the diverse makeup of its attendees.
Abnormal Returns
SEPTEMBER 12, 2022
Top clicks this week What to read instead of "Rich Dad, Poor Dad" or "The Millionaire Next Door." (impersonalfinances.com) The performance of major asset classes in August 2022. (capitalspectator.com) There are two kinds of happiness. Choose wisely. (humbledollar.com) Jason Zweig, "We need to realize, though, that when we look back at the past, we don’t recapture it; we reconstitute it.
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 Big Picture
SEPTEMBER 16, 2022
The traditional finance conference was murdered this week. A stake was driven through its heart by innovators tired of the old ways. It was, to be fair, a mercy killing. Living in the past, running on inertia, nobody bothered to tell the patient that it was time to say your goodbyes before we pull the plug. The industry had forgotten why it even exists: To serve an audience that wants to get out of the office, hang with its peers, and learn how to be better at what it does.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Nerd's Eye View
SEPTEMBER 14, 2022
When it comes to helping clients clarify their most important financial planning goals and priorities, many advisors may find it difficult to facilitate the insightful conversations necessary to guide clients through an exploration of these values. Clients may be tempted to postpone having such intimately personal discussions, and advisors may not be certain how to frame the discussion so that it is both productive and comfortable for the client.
Abnormal Returns
SEPTEMBER 14, 2022
Housing Downsizing in retirement is not without its challenges. (nytimes.com) It's hard to own a second home without a reliable 'guy' to take care of stuff. (marketwatch.com) The many downsides of owning a vacation home. (wsj.com) Rates If you are earning 0% on your bank deposits, it's time to look around for a better deal. (compoundadvisors.com) What you need to understand about muni bond pricing.
The Big Picture
SEPTEMBER 10, 2022
The weekend is here! Pour yourself a mug of Volcanica coffee, grab a seat on the aisle, and get ready for our longer-form weekend reads: • An economist studied popular finance tips. Some might be leading you astray : Thinkfluencers versus economists: Economists may know a lot about how people should act. But, as an empirically minded behavioral economists, we recognize that people don’t act this way.
Calculated Risk
SEPTEMBER 16, 2022
The recession callers were back in the first half of 2022, and some like ARK's Cathie Wood and Home Depot's Ken Langone claimed the US was already in a recession. I disagreed and noted I wasn't even on recession watch! We did see negative real GDP growth in Q1 and in Q2 - but that didn't mean the US economy was in a recession (and this has never been the definition of a US recession).
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.
Nerd's Eye View
SEPTEMBER 12, 2022
For many financial advisors, choosing their profession was based on a genuine desire to help others achieve their financial goals. Yet, while these advisors recognize the importance of business development to grow their firms, they are also very often intimidated by the process of adopting sales techniques to convert leads to clients. It can feel stressful at best and disingenuous at worst.
A Wealth of Common Sense
SEPTEMBER 11, 2022
Following the Great Financial Crisis of 2008 a number of macro doom-and-gloomers began predicting a collapse of the U.S. dollar. The Fed was “printing” trillions of dollars. Interest rates had never been that low before. It was an appealing narrative if you were someone stuck in the negative feedback loop of the biggest economic crash since the Great Depression.
The Big Picture
SEPTEMBER 16, 2022
Earlier this month, we discussed the idea of Electrifying Classic Cars. I spoke to several people and decided to work with a shop in Austin, Texas. After reviewing the process, costs, and timeline, I put down a deposit. Note there is a one-year waiting list before your spot in the queue comes up for work to even begin. Step 2: Decide on a model and date range to convert.
Calculated Risk
SEPTEMBER 15, 2022
From Matthew Graham at MortgageNewsDaily: Boring Day For Rates, But Not "Good" Boring The mortgage market is no stranger to excitement in 2022. Unfortunately, it hasn't been the good kind of excitement. That's especially true of the past few weeks as rates pushed back up to long term highs. After yesterday's upside surprise in the Consumer Price Index (a key inflation report that frequently causes volatility in markets), rates surged up to match the highest levels in 14 years.
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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.
Nerd's Eye View
SEPTEMBER 13, 2022
Welcome back to the 298th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Carolyn Armitage. Carolyn is the President of Thrivent Advisor Network, an RIA platform that offers partnership and affiliate models for financial advisors and oversees $6.5 billion in assets managed by over 20 affiliated independent advisor businesses.
A Wealth of Common Sense
SEPTEMBER 10, 2022
I’m not a fan of blaming the Fed for everything you don’t like about the markets or the economy. Markets have always been rigged or manipulated. Truly free markets are a pipe dream. You have to invest in the markets as they are, not as you wish them to be. Having said that, the Fed deserves some blame for what’s going on in the housing market.
The Big Picture
SEPTEMBER 12, 2022
The Steve Jobs Archive is now up and running. I have been playing about it a bit, there is a lot to explore. The post Steve Jobs Archive appeared first on The Big Picture.
Calculated Risk
SEPTEMBER 12, 2022
These indicators are mostly for travel and entertainment. It is interesting to watch these sectors recover as the pandemic subsides. Notes: I've added back gasoline supplied to see if there is an impact from higher gasoline prices. -- Airlines: Transportation Security Administration -- The TSA is providing daily travel numbers. This data is as of September 11th.
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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.
Abnormal Returns
SEPTEMBER 16, 2022
Economy Derek Thompson talks with Mark Zandi about the coming housing recession. (theringer.com) Roben Farzad talks abou the new world of work with Ed Zitron and Kian Gohar. (podcasts.apple.com) Cameron Passmore and Benjamin Felix talk gender inequality with Colleen Ammerman, author of "Glass Half-Broken: Shattering the Barriers That Still Hold Women Back at Work.
The Reformed Broker
SEPTEMBER 16, 2022
Final Trades: Intuitive Surgical, Ardagh Metal & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
The Big Picture
SEPTEMBER 12, 2022
?. The transcript from this week’s, MiB: Kristen Bitterly Michell, Citi Global Wealth , is below. You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , Bloomberg , and Acast. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~. ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio.
Calculated Risk
SEPTEMBER 16, 2022
The DOL reported : In the week ending September 10, the advance figure for seasonally adjusted initial claims was 213,000 , a decrease of 5,000 from the previous week's revised level. The previous week's level was revised down by 4,000 from 222,000 to 218,000. The 4-week moving average was 224,000, a decrease of 8,000 from the previous week's revised average.
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
Abnormal Returns
SEPTEMBER 15, 2022
Books An excerpt from "They Knew: How a Culture of Conspiracy Keeps America Complacent" by Sarah Kendzior. (vanityfair.com) An excerpt from "How to Speak Whale: An Voyage Into the Future of Animal Communicaiton" by Tom Mustill. (hakaimagazine.com) Environment The planet is changing in a number of ways, including how it sounds. (canadiangeographic.ca) Boreal forests store a lot of carbon.
The Reformed Broker
SEPTEMBER 13, 2022
Wells Fargo’s bullish call on this big bank from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
The Big Picture
SEPTEMBER 10, 2022
This week, we speak with Kristen Bitterly Michell, Head of North American Investments for Citi Global Wealth, which manages $800 billion in client assets. Previously, she was Head of Structured Solutions at Citi. Prior to joining Citi, she led structured product sales to Latin American investors at Credit Suisse and provided structured derivative solutions to private investor clients at JPMorgan.
Calculated Risk
SEPTEMBER 14, 2022
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 9, 2022. This week’s results include an adjustment for the observance of Labor Day.
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.
Abnormal Returns
SEPTEMBER 16, 2022
Strategy Being bullish on America, doesn't mean dismissing the rest of the world. (awealthofcommonsense.com) Why studying the stock market is so fascinating. (dariusforoux.com) Bonds The SEC wants more Treasury trades in a clearinghouse. (wsj.com) Using CDs as an alternative to bonds. (compoundadvisors.com) Investors are pulling cash from bond funds YTD.
A Wealth of Common Sense
SEPTEMBER 13, 2022
I’m in sunny California this week for our Future Proof Festival. There are people from all over the place here so there have been a number of conversations about the prospects of living in California. Some people complain about the high cost of living (especially housing), the high taxes, high gas prices and threat of wildfires or earthquakes.
The Big Picture
SEPTEMBER 16, 2022
?. My segment begins about the ~50-minute mark. We discuss everything from EVs to Inflation to Roe v Wade, to companies that behaved poorly during the pandemic. The post Stand Up with Pete appeared first on The Big Picture.
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