Abnormal Returns
SEPTEMBER 8, 2024
Top clicks this week High yields come with risk. Don't let anyone tell you otherwise. (wsj.com) Three reasons why the stock market declines. (awealthofcommonsense.com) Early in retirement is the time to do some tax planning. (whitecoatinvestor.com) Three reasons to buy Josh Brown's new book "You Weren’t Supposed To See That." (ritholtz.com) How pour-over coffee got so good.
Nerd's Eye View
SEPTEMBER 11, 2024
Among all the different types of retirement account beneficiaries, those who are the surviving spouse of the original account owner receive the most preferential tax treatment when it comes to distributing the account's assets after the owner's death. While non-spouse beneficiaries face strict timelines – either starting Required Minimum Distributions (RMDs) the year after the original owner's death and stretching them over their remaining life expectancy (if they were considered Eligible
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The Big Picture
SEPTEMBER 13, 2024
 This week, we speak with David Rubenstein , Co-Founder and Co-Chairman of The Carlyle Group , which manages over $426 billion is private equity, credit and venture funds. Prior to forming the firm in 1987, David practiced law and served as Deputy Assistant to the President for Domestic Policy, as well as Chief Counsel to the U.S. Senate Judiciary Committee’s Subcommittee on Constitutional Amendments.
Calculated Risk
SEPTEMBER 12, 2024
The Federal Reserve released the Q2 2024 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits rose to $163.8 trillion during the second quarter of 2024. The value of directly and indirectly held corporate equities increased $0.7 trillion and the value of real estate increased $1.8 trillion. Household debt increased 3.2 percent at an annual rate in the second quarter of 2024.
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.
Abnormal Returns
SEPTEMBER 13, 2024
Listening The 'Acquired' podcast is selling out arenas with the help of Zuck. (nytimes.com) Podcast 'historians' aren't bound by anything resembling the truth. (theatlantic.com) Economy Jack Forehand and Matt Zeigler talk with Ed Yardeni about the potential for a 'Roaring 20's.' (youtube.com) James Pethokoukis talks American dynamism with Katherine Boyle who is a general partner at VC giant Andreessen Horowitz.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
The Big Picture
SEPTEMBER 10, 2024
 The transcript from this week’s, MiB: Mike Wilson, Morgan Stanley , 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. ~~~ Barry Ritholtz : This week on the podcast, I have an extra special guest.
A Wealth of Common Sense
SEPTEMBER 8, 2024
Each year since 2011, Gallup has asked people what they think is the best long-term investment: After a brief love affair with gold, real estate has been in the top spot every year since 2013. Stocks are a distant second. So why do we Americans love the housing market so much from an investment perspective? There is something about the American Dream of homeownership combined with the size of the price tag involved for s.
Abnormal Returns
SEPTEMBER 12, 2024
Books An excerpt from Tim Harford’s book, “The Undercover Economist Strikes Back.” (on.ft.com) A Q&A with Alison Fragle author of "Likeable Badass: How Women Get the Success They Deserve." (annieduke.substack.com) AI Why AI really could disrupt work. (danielmiessler.com) Just how transformational is AI in the big picture? (thezvi.substack.com) 11 predictions about AI including 'AI will create more disruption than profit.
Nerd's Eye View
SEPTEMBER 10, 2024
Welcome everyone! Welcome to the 402nd episode of the Financial Advisor Success Podcast! My guest on today's podcast is John Mason. John is the President of Mason & Associates, an RIA based in Newport News, Virginia, that oversees $370 million in assets under management for approximately 390 client households. What's unique about John, though, is how joining a firm that served the niche of Federal government employees allowed him to quickly accelerate his own learning curve and demonstrate h
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Calculated Risk
SEPTEMBER 12, 2024
Today, in the Real Estate Newsletter: The "Home ATM" Mostly Closed in Q2 Excerpt: During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.
A Wealth of Common Sense
SEPTEMBER 13, 2024
Mario Draghi, the former Jerome Powell of the European Union, was tasked with writing a detailed report on the economic competitiveness (or lack thereof) in Europe. His findings are striking. Here are some facts and figures that stood out: Across different metrics, a wide gap in GDP has opened up between the EU and the US, driven mainly by a more pronounced slowdown in productivity growth in Europe.
Abnormal Returns
SEPTEMBER 12, 2024
Apple How the new AirPod Pros 2 could upend the hearing aid industry. (cnbc.com) Why it's smart for Apple ($AAPL) to add a Camera Control button to the new iPhones. (macworld.com) The iPhone camera is going to be an onramp for 'visual AI.' (om.co) The iPhone 16s are not 'AI phones.' (spyglass.org) Companies Kevin Plank has a tough job in his second go-round as Under Armour ($UA) CEO.
Nerd's Eye View
SEPTEMBER 9, 2024
While the share of advisors with the CFP marks has risen steadily over time, today, about 2/3 of financial advisors are not CFP professionals. This means that, for most advisors, the decision to obtain this designation remains an open one. A crucial factor in an advisor's decision to prepare for the CFP exam – often requiring them to sacrifice evenings and weekends to complete the requisite coursework (which can take more than a year), and spending many thousands of dollars – is whet
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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.
Calculated Risk
SEPTEMBER 13, 2024
Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-September 2024 A brief excerpt: This 2-part overview for mid-September 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 August 2024 Monthly Housing Market Trends Report showing new listings were down 0.9% year-over-year in August.
A Wealth of Common Sense
SEPTEMBER 12, 2024
Our resident estate expert, Taylor Hollis, joined me on the show this week to discuss questions about CD rates, how trusts work, how to protect your finances from an illness in the family and paying off student loans with a 401k loan. Further Reading: How Individual Retirement Accounts Changed the Stock Market Forever 1Assets did fall and then stagnated coming out of the Great Financial Crisis but that was a period with.
Abnormal Returns
SEPTEMBER 13, 2024
Google What happens if Google loses its antitrust case? (thebignewsletter.com) Google Search is now adding links to archived websites in the Internet Archive’s Wayback Machine. (theverge.com) How the Google and Apple app ecosystems compare. (genuineimpact.substack.com) Companies Zuck DGAF any more. (sherwood.news) Does Intel ($INTC) need Microsoft ($MSFT) to save it?
Advisor Perspectives
SEPTEMBER 11, 2024
Inflation cooled for a fifth straight month in August, dropping to its lowest level since February 2021. According to the Bureau of Labor Statistics, the headline figure for the Consumer Price Index fell to 2.5% year-over-year, right in line with economist expectations. Additionally, core CPI cooled to 3.2% as expected.
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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.
Calculated Risk
SEPTEMBER 10, 2024
From Dodge Data Analytics: Dodge Momentum Index Rises 3% in August The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 2.9% in August to 220.4 (2000=100) from the revised July reading of 214.2. Over the month, commercial planning expanded 1.9% and institutional planning improved 5.7%. “Owners and developers continued to prime the planning queue in August, ahead of next year’s anticipated stronger market conditions,” stated Sarah Martin, associate director of forecasti
A Wealth of Common Sense
SEPTEMBER 10, 2024
I’m not good at timing the markets. I’m not good at predicting turning points. I don’t know when certain asset classes, stocks, or strategies will over- or underperform. I do know nothing is more dependable in the markets than cycles. John Templeton famously said the four most dangerous words in investing are “this time is different.” The hard part about cycles is sometimes things really are.
Abnormal Returns
SEPTEMBER 9, 2024
Finance Analysts are in no rush to cut earnings estimates. (sherwood.news) Kalshi won its lawsuit against the CFTC to offer political prediction markets. (coindesk.com) Apple Will AI drive a renewed iPhone upgrade cycle? (spyglass.org) What is Apple ($AAPL) spending all that R&D money on? (sherwood.news) How Apple ($AAPL) turned the watch into THE wearable.
Advisor Perspectives
SEPTEMBER 12, 2024
In the week ending September 7th, initial jobless claims were at a seasonally adjusted level of 230,000. This represents an increase of 2,000 from the previous week's figure and is worse than the 227,000 economists were expecting.
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
Calculated Risk
SEPTEMBER 11, 2024
Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year Brief excerpt: Tracking rents is important for understanding the dynamics of the housing market. For example, the sharp increase in rents helped me deduce that there was a surge in household formation in 2021 (See from September 2021: Household Formation Drives Housing Demand ).
Wealth Management
SEPTEMBER 11, 2024
For an upfront purchase price of $50 million, the deal brings $47 billion of assets in the emerging and mid-market retirement plan segments and competitive ESOP administration.
Abnormal Returns
SEPTEMBER 8, 2024
Rates The yield curve inversion is over. (mrzepczynski.blogspot.com) Mortgage rates have come down in anticipation of a Fed rate cut. (thebasispoint.com) Why you can't just talk about 'bonds' as a single market. (humbledollar.com) Finance The CBOE ($CBOE) has launched a platform to trade shares in private companies. (finance.yahoo.com) Vanguard is now a 'no' on ESG shareholder votes.
Advisor Perspectives
SEPTEMBER 9, 2024
78 million baby boomers are about one-third of the voter-eligible population and 77 percent of them vote, so there are 60 million baby boomer votes. That 60 million is 38 percent of the 158 million votes cast in the 2020 presidential election. The baby boomer voters’ bloc is a big deal.
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.
Calculated Risk
SEPTEMBER 7, 2024
Today, in the Calculated Risk Real Estate Newsletter: House Price Weekend: Case-Shiller: National House Price Index Up 5.4% year-over-year in June Excerpt: S&P/Case-Shiller released the monthly Home Price Indices for June ("June" is a 3-month average of April, May and June closing prices). June closing prices include some contracts signed in February, so there is a significant lag to this data.
Trade Brains
SEPTEMBER 12, 2024
The semiconductor industry has been playing a crucial role in driving technological advancements in India. As the demand for electronic devices surged, companies were continuously innovating to meet this need. This sector not only supports the growth of various industries but also aims to reduce India’s reliance on semiconductor imports. By promoting local manufacturing capabilities, the semiconductor industry is paving the way for economic growth and technological self-sufficiency in Indi
Abnormal Returns
SEPTEMBER 11, 2024
Podcasts Barry Ritholtz talks with Samuel Miller about the housing market. (ritholtz.com) Christine Benz talks about her new book "How to Retire." (morningstar.com) Peter Lazaroff on what to do with your maturing CD. (peterlazaroff.com) Carl Richards talks with economist Stephanie Kelton talk money and the economy. (podcasts.apple.com) Fraud Financial fraudsters end up harming those who an afford it least.
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