The Big Picture
OCTOBER 10, 2022
Imagine the impact of markets losing a ~quarter of their value in one trading session. That was what happened 35 years ago today: October 13 th , Black Monday a/k/a the 1987 crash. If you are a relatively young investor, you may be unfamiliar with what happened that day or why. The 87 crash impacted many market-related elements. We can trace lots of today’s market structure to that event, and the changes it wrought subsequently.
The Reformed Broker
OCTOBER 8, 2022
Thanks for checking out piece from last Sunday “You weren’t supposed to see that” – it went crazy viral all over the place. I can’t believe how much feedback came in. Mostly in agreement with my conclusion but not all of it, there were some reasonable counterarguments too. And if you haven’t subscribed yet, don’t wait.
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Abnormal Returns
OCTOBER 12, 2022
Work There is a difference between avoiding failure and achieving success. (bankeronfire.com) Companies are not looking out for your financial needs. (tonyisola.com) Ambition comes with a price. (radreads.co) Investing Under what circumstances should you tweak an off-the-shelf portfolio? (morningstar.com) Don't let a market downturn prevent you from doing things you love.
Nerd's Eye View
OCTOBER 14, 2022
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the Cost Of Living Adjustment (COLA) for Social Security beneficiaries will be 8.7% for 2023, the largest COLA since 1981. While this will help seniors keep pace with rising prices, it also creates tax planning opportunities for advisors and raises the possibility that the Social Security Trust Fund could be depleted sooner than expected.
Speaker: Amanda Adams, Fractional CFO, CPA
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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
OCTOBER 14, 2022
There’s nothing like confusing market action to send people into narrative creation overdrive. Yesterday’s 2% collapse on hotter-than-expected CPI data, followed by ~5% recovery to finish the day up more than 2% is a perfect example of random market action begetting endless explanations. What was the takeaway from CPI? Check out the BAML chart above: Core goods are coming down ( that’s good!
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
OCTOBER 11, 2022
Strategy Mark Rzepczynski, "Every good trader thinks about opportunity cost and exit strategies. In fact, quitting is the core skill for protecting principal." (mrzepczynski.blogspot.com) Jason Zweig, "Try to watch a tree growing, and you see nothing; yet it is growing all the same. It can send out new branches and green foliage for several human lifetimes.
Nerd's Eye View
OCTOBER 12, 2022
Prospective clients often approach a financial advisor because they have a problem. Perhaps they are approaching retirement and do not know whether their current path is financially sustainable, or maybe they have a complicated equity compensation problem to sort through. But after this initial problem is solved, long-term goals are discussed, and a financial plan is implemented, what comes next?
The Big Picture
OCTOBER 9, 2022
It was one of those minor stories that seemed to have taken on a life of its own: The New York Times 1 reported last week about an adjunct Organic Chemistry professor at NYU who was fired after students complained his tests were too hard. I would have missed it, but for J.V Last discussing it at The Bulwark. 2. Both discussions touched on what a gut course org chem is; how many aspiring doctors see their career hopes dashed by the class.
The Reformed Broker
OCTOBER 14, 2022
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Bob Pisani, Kyla Scanlon, and Downtown Josh Brown discuss stories from the stock exchange, investors of the future, the Fed’s toolbox, stocks for the long run, the most important developments in trading over the past 30 years, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your.
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.
Abnormal Returns
OCTOBER 14, 2022
Podcasting Jim O'Shaughnessy talks with David Senra about the Founders Podcast. (infiniteloopspodcast.com) Jason Buck talks with Bill Brewster from The Business Brew podcast. (mutinyfund.com) Business Patrick O'Shaughnessy talks product pricing with Madhavan Ramanujam author of "Monetizing Innovation: How Smart Companies Design the Product Around the Price.
Nerd's Eye View
OCTOBER 11, 2022
Welcome back to the 302nd episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Libby Greiwe. Libby is the owner of The Efficient Advisor, a financial advisor coaching and consulting business based out of Loveland, Ohio, that’s focused on helping advisors create systems and processes for themselves so that they can run their businesses in less time and with less stress.
The Big Picture
OCTOBER 8, 2022
? ?. Michael Levy is CEO of Crow Holding , a 75-year old real estate investment and development firm. Crow is the largest builder of multi-family apartment buildings in the United States. Previously, he worked in real estate finance and investment management at Morgan Stanley. Levy is currently a member of the Real Estate Roundtable, the Advisory Board at the Institute for Real Estate Operating Companies, and is an Urban Land Institute Foundation governor.
The Reformed Broker
OCTOBER 13, 2022
Final Trades: Deere, Dutch Bros & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
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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.
Abnormal Returns
OCTOBER 12, 2022
Strategy Sometimes your best trade is a loss. (allstarcharts.com) The all-weather portfolio has not fared well in 2022. (blog.validea.com) Companies Apple ($AAPL) is shifting more production out of China. (9to5mac.com) How Microsoft ($MSFT) could bring VR to the enterprise. (stratechery.com) A Labor Department ruling could make it easier for gig workers to get classified as employees.
Nerd's Eye View
OCTOBER 10, 2022
Communicating ongoing value to clients and prospects can be a challenge for financial advisors. Although there are many ways to articulate how an advisor can create value for a client, there is no guarantee that any one particular method will resonate with every potential client. An expression of value that works for one prospect might fall completely flat with another – and for advisors, it might feel like guesswork to find out what message will be the most effective for a particular clie
The Big Picture
OCTOBER 13, 2022
Boaz Weinstein, Founder & CIO, Saba Capital Management speaks with Barry Ritholtz, Co-Founder & CIO, Ritholtz Wealth Management; Host, Bloomberg’s Masters in Business at Bloomberg Invest. Source: Bloomberg. click for video . The post Saba Capital Management’s Weinstein on Whales, Tails, & Fails appeared first on The Big Picture.
Calculated Risk
OCTOBER 14, 2022
On a monthly basis, retail sales were unchanged from August to September (seasonally adjusted), and sales were up 8.2 percent from September 2021. From the Census Bureau report : Advance estimates of U.S. retail and food services sales for September 2022, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $684.0 billion, virtually unchanged from the previous month, but 8.2 percent above September 2021.
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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
OCTOBER 9, 2022
Top clicks this week Three reasons why international stocks have been such a big disappointment. (morningstar.com) Why selling after a 25% decline has historically been a bad idea. (theirrelevantinvestor.com) For those people investing regularly, your money is going to do more work for you. (theirrelevantinvestor.com) Every bear market is different.
Alpha Architect
OCTOBER 10, 2022
In this article, we examine the academic research about what millionaires invest in. Pulling the curtain back: what do millionaires invest in? was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
The Big Picture
OCTOBER 8, 2022
The weekend is here! Pour yourself a mug of Volcanica coffee, grab a seat by the window, and get ready for our longer-form weekend reads: • Why You Hate Your Job : A theory on the function of b t jobs: to maintain the illusion of meritocracy and to provide status and prestige for elites. ( Current Affairs ). • You weren’t supposed to see that. I’m going to tell you a quick story in the order in which it happened.
Calculated Risk
OCTOBER 13, 2022
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from economist Jiayi Xu: Weekly Housing Trends View — Data Week Ending Oct 8, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, increasing 31% above one year ago.
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
OCTOBER 14, 2022
Markets Bond market volatility is at crisis levels. (axios.com) The biggest risk to the market right now is central bank policy error. (awealthofcommonsense.com) When the stock market is down 25% we are usually already in a recession. (theirrelevantinvestor.com) Expectations for the 60/40 portfolio have been reset this year. (morningstar.com) Companies Details on Netflix ($NFLX) Basic with Ads is here.
A Wealth of Common Sense
OCTOBER 14, 2022
A new research paper from an economist at Yale did a deep dive into 50 of the most popular personal finance books of all-time. If you’re a personal finance nerd like me you should be familiar with the authors — Dave Ramsey, Suze Orman, Robert Kiyosaki, Ramit Sethi, David Bach and the like. The point of the paper was to show how typical personal finance advice differs from academic economic models.
The Big Picture
OCTOBER 10, 2022
My back-to-work morning train WFH reads: • Fed’s Inflation Fight Has Some Economists Fearing an Unnecessarily Deep Downturn : Rapid rate increases provide less time for central bankers to study their economic effects ( Wall Street Journal ). • Eight ways Elon Musk could still get out of buying Twitter : TL; DR they’re all quite stupid ( Financial Times ) see also Twitter investors should be very careful about trusting Elon Musk : And it wasn’t going well for him.
Calculated Risk
OCTOBER 12, 2022
"Purposefully moving" towards a more restrictive policy. From the Fed: Minutes of the Federal Open Market Committee, September 20-21, 2022. Excerpt: In their assessment of the effects of policy actions and communications to date, participants concurred that the Committee's actions to raise expeditiously the target range for the federal funds rate demonstrated its resolve to lower inflation to 2 percent and to keep inflation expectations anchored at levels consistent with that longer-run goal.
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
OCTOBER 13, 2022
Books A Q&A with Dr. Wes Ely author of "Every Deep-Drawn Breath: A Critical Care Doctor on Healing, Recovery, and Transforming Medicine in the ICU." (statnews.com) An excerpt from "Of Boys and Men: Why the Modern Male Is Struggling, Why It Matters, and What to Do About It" by Richard V. Reeves. (nationalaffairs.com) An excerpt from "Belonging: The Science of Creating Connection and Bridging Divides' by Geoffrey L.
Wealth Management
OCTOBER 13, 2022
“We know firsthand from deals we’ve been working on that buyers have pulled back and lenders are more conservative,” says one broker. Nevertheless, the medical office sector is still considered a favored asset class among investors.
The Big Picture
OCTOBER 14, 2022
One of the hottest trends in cars lately is retro-modding. It can go in either direction: Take a modern car and make it look like a retro classic — see the post-2000s Ford Mustang or the new Bronco as examples. But the other way to go is to take an older car and modernize it. Perhaps the most outrageous approach to this is done by Singer — as an example, see this gorgeous baby blue 1989 Porsche 964 Carrera 4 Coupe , that is bid up to $950k.
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