The Big Picture
MARCH 22, 2023
Bank failures since 2001, scaled by amount of assets in 2023 dollars. The graphic above, via Flowing Data , puts recent events into perspective: At $209 billion in assets, the Silicon Valley Bank failure since Washington Mutual crashed in 2008 (JPM Chase took them over from the FDIC). The post U.S. Bank Failures, 2001 – Present appeared first on The Big Picture.
The Reformed Broker
MARCH 18, 2023
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.
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Abnormal Returns
MARCH 23, 2023
Books A Q&A with Jenny Odell author of "Saving Time: Discovering a Life Beyond the Clock." (wired.com) An excerpt from "Mixed Signals: How Incentives Really Work" by Uri Gneezy. (behavioralscientist.org) Technology What jobs are generative AI going to eliminate? (unchartedterritories.tomaspueyo.com) An awe inspiring visit to a state-of-the-art semiconductor fab.
A Wealth of Common Sense
MARCH 21, 2023
John Marsden grew up in a wealthy family. He was a brilliant student who went to Harvard, graduated from law school and eventually fulfilled his dream of becoming a successful lawyer. John got married in his 30s and had children. Leo DeMarco also went to Harvard where he dreamed of becoming a famous writer. But after college he became a high school teacher and loved working with his students so much that his dream never c.
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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.
The Big Picture
MARCH 20, 2023
Silicon Valley Bank depositors made whole; Credit Suisse counter-parties saved; First Republic bondholders protected — are these bailouts or something else? Were these people “bailed out?” What are the differences between insured depositors getting their cash back, a private sector rescue orchestrated by the Fed or the Swiss government, and a taxpayer-funded bailout?
The Reformed Broker
MARCH 19, 2023
Dan McMurtrie crushed it on TCAF this week. In case you haven’t gotten to it yet, the whole video is embedded below. You can also listen to it if you’re on the go. At the 25 minute mark, he does this really great explanation of why shorting stocks is so hard, including the toll it can take on a trader’s mental health – even when they end up being right.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Calculated Risk
MARCH 22, 2023
Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture Billings Index (ABI) Slowdown Continues into February More architecture firms reported a decline in billings in February, indicating an extension of a recent downturn in design activity according to a new report released today from The American Institute of Architects (AIA).
The Big Picture
MARCH 18, 2023
This week, we speak with Cliff Asness , co-founder and managing partner at AQR Capital Management. The firm has ~$100 billion in assets under management. An active researcher, Asness contributes to numerous publications and has received a variety of accolades, including the James R. Vertin Award from CFA Institute in recognition of his lifetime contribution to research.
The Reformed Broker
MARCH 24, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Jill Schlesinger, and Downtown Josh Brown discuss the Fed decision aftermath, unlimited FDIC insurance for banks, the SEC’s crypto crackdown, banning TikTok, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
Abnormal Returns
MARCH 22, 2023
Markets Bond market volatility is at GFC-type levels. (axios.com) Chasing 'smooth returns' is a fool's errand. (capitalallocators.com) Crypto Does your portfolio have more crypto exposure than you think? (morningstar.com) Crypto hype has died down, but the environmental effect hasn't. (theatlantic.com) AI Google ($GOOGL) is opening up access to its ChatGPT competitor, Bard.
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.
Calculated Risk
MARCH 24, 2023
Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released yesterday from Sabrina Speianu: Weekly Housing Trends View — Data Week Ending Mar 18, 2023 • Active inventory growth continued to climb with for-sale homes up 59% above one year ago. Inventories of for-sale homes rose, but at a slightly slower pace than last week’s gain, as new sellers on the market held back more.
The Big Picture
MARCH 18, 2023
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The A to Z of economics : Economic terms, from “absolute advantage” to “zero-sum game”, explained to you in plain English. ( The Economist ) • The Incredible Tantrum Venture Capitalists Threw Over Silicon Valley Bank : Remind me why, exactly, these guys have so much control over technological innovation?
The Reformed Broker
MARCH 23, 2023
Final Trades: AbbVie, Nike, FedEx & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
Abnormal Returns
MARCH 22, 2023
Podcasts Morgan Housel talks about his top 30 rules of the money game. (open.spotify.com) Jeff Ptak and Christine Benz talk financial independence with Brad Barrett, co-founder of ChooseFI. (morningstar.com) Retirement Retirement is filled with all sorts of challenging decisions. (humbledollar.com) Stranded retirement accounts are a big problem. (nytimes.com) What goes into the decision about taking a lump sum pension payout.
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
Calculated Risk
MARCH 21, 2023
From the NAR: Existing-Home Sales Surged 14.5% in February, Ending 12-Month Streak of Declines Existing-home sales reversed a 12-month slide in February, registering the largest monthly percentage increase since July 2020, according to the National Association of REALTORS®. Month-over-month sales rose in all four major U.S. regions. All regions posted year-over-year declines.
The Big Picture
MARCH 22, 2023
Note: We are off to California and Arizona for a few events; no Morning Reads for the next few days… My mid-week morning train plane reads: • How the Swiss ‘trinity’ forced UBS to save Credit Suisse : The takeover of its local rival could end up being a generational boon for UBS. But the government-orchestrated deal has angered many investors. ( Financial Times Alphaville ) • Why Job Reshoring Is Merely a Trickle : U.S. manufacturing can’t compete on cost, but it has a leg up in some areas
Nerd's Eye View
MARCH 23, 2023
Offering financial advice can mean many things for different financial advisors, and there are many reasons that advisors choose to join the planning profession. But for many advisors, the process of articulating their philosophies about financial advice and what it is the advisor stands for can be much more challenging than learning the technical aspects of financial planning.
Abnormal Returns
MARCH 19, 2023
Markets Ben Carlson, "History is chock-full of panics, crises, crashes, ups, downs and the unexpected." (awealthofcommonsense.com) Surprises shouldn't be surprising. (mrzepczynski.blogspot.com) Energy stocks are now struggling. (allstarcharts.com) Companies Growth in spending on SaaS services is slowing. (tomtunguz.com) Why Berkshire Hathaway's ($BRK.A) proxy statement is so short.
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.
Calculated Risk
MARCH 23, 2023
The DOL reported : In the week ending March 18, the advance figure for seasonally adjusted initial claims was 191,000, a decrease of 1,000 from the previous week's unrevised level of 192,000. The 4-week moving average was 196,250, a decrease of 250 from the previous week's unrevised average of 196,500. emphasis added The following graph shows the 4-week moving average of weekly claims since 1971.
The Big Picture
MARCH 20, 2023
My back to work morning train WFH reads: • Your NCAA Tournament Bracket Is a Business School in Disguise : What can you learn from the biggest upsets in college basketball? ( Wall Street Journal ) • What CEOs Are Getting Wrong About the Future of Work—and How to Make It Right : To build better companies, leaders need to experiment more, quit ‘living in fear of opening Pandora’s box,’ says Wharton management professor Adam Grant. ( Wall Street Journal ) see also Why Job Reshoring Is Merely a Tric
Advisor Perspectives
MARCH 22, 2023
Do advisors need to accept that technology will forever be a drag, or can the right approach lead to personal happiness and a more productive practice?
Abnormal Returns
MARCH 23, 2023
Strategy Why isn't the stock market going down? (theirrelevantinvestor.com) Bonds have had a rough five years. Things are different moving forward. (morningstar.com) Novel Investor, "Investors must make bets on imperfect information to earn sought-after long-run returns." (novelinvestor.com) Crypto Why is Bitcoin going higher? (newsletter.mollywhite.net) Coinbase ($COIN) is at-risk if the SEC forces it to delist coins it believes to be securities.
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
MARCH 22, 2023
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey — Mortgage applications increased 3.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 17, 2023. The Market Composite Index, a measure of mortgage loan application volume, increased 3.0 percent on a seasonally adjusted basis from one week earlier.
The Big Picture
MARCH 21, 2023
Note: We are off to California and Arizona for a few events later this week; publishing will be spotty… Welcome to Spring! Start the new season with our Two-for-Tuesday morning train reads: • Are Banks OK? Where the sector stands after a turbulent week. ( Slate ) see also Déjà Vu? Why 2023 is Not 2008 : But that is incomparable to the 2008-09 era, where every financial institution had consumed CDOs, where toxic sub-prime loans were securitized into ticking time bombs.
The Reformed Broker
MARCH 21, 2023
Morgan Stanley says buy Meta from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
Abnormal Returns
MARCH 24, 2023
Markets The stock market bottomed three years ago in the early days of the pandemic. (demystifyingmarkets.com) Financial stress has increased but is not at GFC-type levels. (econbrowser.com) Banks The banking crisis could play out in tighter credit for small and mid-sized businesses. (wsj.com) Why selling SVB has proven to be a difficult task. (theinformation.com) Further banking consolidation could create 'banking deserts.
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Wealth Management
MARCH 21, 2023
It’s rare to find a firm that grows strongly and consistently without a strategic growth framework approach.
Advisor Perspectives
MARCH 20, 2023
The strongest force standing in the way of nuclear energy is the antiquated, irrational fear of it.
The Reformed Broker
MARCH 21, 2023
Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including: ►Tech Resurgence – Silicon Valley Bank event feels bottom-y. The ultimate anecdotal sign. ►1 Year Later – One year ago, the FOMC first hiked interest rates.
Abnormal Returns
MARCH 21, 2023
Strategy Jeff Ptak, "If we know that we don’t know what we don’t know, then it stands to reason we should give ourselves some breathing room when an issue suddenly bursts onto the scene." (morningstar.com) Risks are often only obvious in hindsight. (youngmoney.co) What risks should you actually hedge? (mr-stingy.com) Finance Banks may have to re-think deposit velocity going forward.
Speaker: Ashley Harlan, MBA
What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.
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