The Reformed Broker
OCTOBER 3, 2022
I’m going to tell you a quick story in the order in which it happened. You were there. You will be familiar with the sequence of these events. But you may not have reached the shocking conclusion that I have. At least not yet. Wait for it… Our story begins in 2019… It was the best of times, it was the best of times. The tail end of a decade of uninterrupted asset price appreciation for the top decile of.
Calculated Risk
OCTOBER 7, 2022
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released yesterday from Chief Economist Danielle Hale and Jiayi Xu: Weekly Housing Trends View — Data Week Ending Oct 1, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, increasing 30% above one year ago.
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The Big Picture
OCTOBER 7, 2022
One of the really strange things about watching Federal Reserve policy is the excess of deference that is given to the Fed’s judgment. While the Fed deserves credit for when they get things right – e.g., rescuing the credit system from the great financial crisis (GFC) – they also deserve plenty of blame for the multitude of sins they commit. I am not a Fed hater or part of the crew that wants to “End the Fed.
Wealth Management
OCTOBER 4, 2022
Office-to-multifamily conversions have ticked up lately. But such redevelopments remain difficult to pull off and represent a small percentage of the apartment pipeline.
Speaker: David Worrell, CFO, Author & Speaker
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 Reformed Broker
OCTOBER 3, 2022
Every bear market has these two things in common: They end Expected returns go up The first thing is self-explanatory. The second thing should be obvious but from my talks with thousands of investors over the years, I have found that it is most certainly not intuitive to most people. When I tell you that expected returns are rising as stock prices fall, this is an overly simplistic way of saying that investors only get.
Calculated Risk
OCTOBER 3, 2022
Active inventory increased for the 3rd consecutive week, increasing 0.8% last week, and hitting a new peak for the year. Here are the same week inventory changes for the last four years ( usually inventory is declining at this time of year ): 2022: +4.3K 2021: -4.6K 2020: -4.9K 2019: -7.7K Inventory bottomed seasonally at the beginning of March 2022 and is now up 133% since then.
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Wealth Management
OCTOBER 4, 2022
Mercer's California-based addition adds to a string of 14 deals so far this year for the $38 billion AUM RIA.
The Reformed Broker
OCTOBER 3, 2022
TONIGHT AT 5:30PM EST! Skylar Olsen joins Michael Batnick and I on a special episode of Live from The Compound! Dr. Skyler Olsen is the Chief Economist at Zillow. Previous to her current position, Skyler founded a consultancy supporting public-facing economic data program, was head of economics at a digital mortgage start-up, and spent 8 years supporting the Zillow economic research department.
Calculated Risk
OCTOBER 4, 2022
Notes: This CoreLogic House Price Index report is for August. The recent Case-Shiller index release was for July. The CoreLogic HPI is a three-month weighted average and is not seasonally adjusted (NSA). From CoreLogic: Annual US Home Price Gains Lose Steam Again in August, CoreLogic Reports CoreLogic®. today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for August 2022.
The Big Picture
OCTOBER 1, 2022
“ Are we there yet? ” is not just a line from the kids the in the back of the car. It’s a question that investors, speculators, and professional traders have been asking themselves. The tl:dr is almost. We are almost there – down ~25% this year (so far). I wouldn’t call this an orderly sell-off, but it also hasn’t been the sort of collapse associated with true crashes like the 2000 tech wreck or the subprime mortgage/derivatives crisis.
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
Wealth Management
OCTOBER 4, 2022
Net lease retail REITs, aggregators and cash buyers are anticipating an extremely active acquisitions environment for the remainder of the year as terms become more attractive.
Nerd's Eye View
OCTOBER 5, 2022
In recent years, numerous software solutions have sprung up that aim to automate the process of tax-loss harvesting. Both retail-focused robo-advisors and advisor-focused TAMPs have begun to offer automated tax-loss harvesting, which – by systematically checking for losses to harvest, typically on a daily basis – purports to increase investors’ after-tax returns by 1% or more.
Calculated Risk
OCTOBER 3, 2022
From the Census Bureau reported that overall construction spending increased: Construction spending during August 2022 was estimated at a seasonally adjusted annual rate of $1,781.3 billion, 0.7 percent below the revised July estimate of $1,793.5 billion. The August figure is 8.5 percent above the August 2021 estimate of $1,641.6 billion. emphasis added Both private spending and public spending decreased: Spending on private construction was at a seasonally adjusted annual rate of $1,426.0 billi
The Big Picture
OCTOBER 1, 2022
. This week, we speak with science journalist David McRaney, who investigates the psychology of reasoning, decision-making and judgment on his blog “ You Are Not So Smart.” The blog, which he launched in 2009, spawned a bestselling book, now available in 17 languages, as well as a podcast. McRaney’s most recent book, “ How Minds Change: The Surprising Science of Belief, Opinion, and Persuasion ,” came out this year.
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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
OCTOBER 4, 2022
American Homes 4 Rent, which owns about 60,000 single-family rental homes across the country, has been tweaking designs of houses it builds itself to make them more durable and energy-efficient. The company says it could eventually operate its entire portfolio at net-zero.
Nerd's Eye View
OCTOBER 4, 2022
Welcome back to the 301st episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Ramit Sethi. Ramit is the author of the New York Times’s bestselling book, I Will Teach You To Be Rich , and the owner of the online platform of the same name that offers financial education content and programs to consumers so they can get refocused on their personal finances and the things they love.
Calculated Risk
OCTOBER 1, 2022
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released yesterday from Chief Economist Danielle Hale and Jiayi Xu: Weekly Housing Trends View — Data Week Ending Sep 24, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, and improved 29% above one year ago.
The Big Picture
OCTOBER 3, 2022
Click for audio. I sat down with Jon Luskin of Bogleheads to record episode #18: We focus on the cognitive & behavioral side of investing, as well as different ways of approaching risk. The post Bogleheads Live appeared first on The Big Picture.
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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
OCTOBER 4, 2022
Latest acquisition follows a $4 million technology overhaul bringing client data in-house. It adds two new offices and establishes Merit’s presence in the greater Seattle area.
Nerd's Eye View
OCTOBER 3, 2022
Welcome to the October 2022 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors! This month's edition kicks off with the news that DPL Financial Partners has raised $20M of capital to continue scaling up its marketplace of no-commission annuities for RIAs, as the ongoing development of new fee-based products – combined wit
Calculated Risk
OCTOBER 2, 2022
Here is another monthly update on framing lumber prices. This graph shows CME random length framing futures through September 30th. Lumber was at $425 per 1000 board feet on Friday. This is down from the peak of $1,733, and down 34% from $643 a year ago. Prices are close to the pre-pandemic levels of around $400. Click on graph for larger image. There is somewhat of a seasonal demand for lumber, and lumber prices usually peak in April or May, although peaked much earlier this year.
The Big Picture
OCTOBER 4, 2022
My Two-for-Tuesday morning train WFH reads: • Washout : If the leaders are falling, you know the rest of the bunch already got washed out. Indeed, only 8% of the Nasdaq-100 is above the 200-day moving average. ( Irrelevant Investor ) see also Getting Long-Term Bullish : My general investment philosophy is the more bearish things feel in the short run the more bullish I should be over the long run.
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
OCTOBER 4, 2022
Corporations, partnerships and LLCs must meet Jan. 1, 2024 reporting deadline.
The Reformed Broker
OCTOBER 2, 2022
And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. . The post This Week on TRB appeared first on The Reformed Broker.
Calculated Risk
OCTOBER 4, 2022
The BEA released their estimate of vehicle sales for September this morning. This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the September 2022 seasonally adjusted annual sales rate (SAAR). Heavy truck sales really collapsed during the great recession, falling to a low of 180 thousand SAAR in May 2009. Then heavy truck sales increased to a new all-time high of 570 thousand SAAR in April 2019.
The Big Picture
OCTOBER 1, 2022
The new BMW XM Hybrid is a lot of things: a high horsepower, very expensive, top-of-the-line SUV, that is the first hybrid from BMW Motorsports GmbH, aka “M” sports division. The specs on the Plug-in hybrid powertrain are impressive: -TwinPower Turbo, 4.4-liter V-8 engine. -644HP + 590lb-ft of torque. -0-60 mph in 4.1 seconds. -8-speed M Steptronic transmission. -194-hp electric motor. -317-volt battery pack 25.7-kWh battery pack (30 miles e-driving range).
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
OCTOBER 6, 2022
There's a reason Monte Carlo is synonymous with gambling.
Abnormal Returns
OCTOBER 1, 2022
The biz Podcasters are not above using tricks to boost downloads. (bloomberg.com) Why the podcasting world seems so tired these days. (garbageday.email) Business Barry Ritholtz talks with Steve Case about his career at AOL and investing in startups today. (ritholtz.com) Benjamin Gilbert and David Rosenthal take a deep dive into the history and strategy of Benchmark Capital.
Calculated Risk
OCTOBER 4, 2022
From the BLS: Job Openings and Labor Turnover Summary The number of job openings decreased to 10.1 million on the last business day of August, the U.S. Bureau of Labor Statistics reported today. Hires and total separations were little changed at 6.3 million and 6.0 million, respectively. Within separations, quits (4.2 million) and layoffs and discharges (1.5 million) were little changed. emphasis added The following graph shows job openings (black line), hires (dark blue), Layoff, Discharges and
The Big Picture
OCTOBER 1, 2022
Welcome to October! The weekend is here, so pour yourself a mug of Porto Rico Import coffee, grab a seat on the sofa, and get ready for our longer-form weekend reads: • The Great Bluff: How the Ukrainians Outwitted Putin’s Army : Russia’s army was thought to be vastly superior. But Ukraine has nevertheless managed to secure an almost unbelievable coup, taking back huge swaths of territory in the northeast.
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