The Big Picture
SEPTEMBER 6, 2022
So, it was just Labor Day Weekend, and while we all should be out NOT laboring, I spent part of the long holiday weekend thinking about a few of my favorite FRED charts. Rather than include all of my favorites, I set a challenge for myself: Limit the list to the three most telling charts: U3 Unemployment Rate : When has unemployment been lower than today?
The Reformed Broker
SEPTEMBER 4, 2022
Happy Labor Day Weekend! We did some amazing stuff on the blogs and podcasts this week. Volatile markets really bring the best out in our writers. Hope you’ve been checking out Ben’s blog, Nick’s blog, Animal Spirits, Portfolio Rescue and all the rest this summer. I think we’re balancing a dose of realism about the current situation with plenty of constructive commentary and some optimism about the.
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Abnormal Returns
SEPTEMBER 7, 2022
Retirement Dror Poleg, "Telling people you're retired gives you a legitimate, socially-acceptable identity. Saying you're unemployed doesn't." (drorpoleg.com) Jim, "Early retirement shouldn’t just be defined as a solution for those who dislike their jobs." (routetoretire.com) Mortgages Higher mortgage rates no longer make paying off a mortgage early a no-brainer.
Nerd's Eye View
SEPTEMBER 6, 2022
Welcome back to the 297th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Andy Panko. Andy is the owner of Tenon Financial, a virtual independent RIA that oversees $70 million in assets under management for 43 retired client households. What's unique about Andy, though, is how, shortly after launching his practice, he created a Facebook group so that he could share his expertise directly with the types of clients he wanted to serve… which unexpectedly beca
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 3, 2022
This week, we speak with Lynn Martin , President of the NYSE , which is part of the Intercontinental Exchange. NYSE is the world’s largest stock exchange, with 2,400 listed companies and a combined market cap of ~$36 trillion dollars. She began her career at IBM in its Global Services. We discuss the IPO process and how many companies go public, primarily to raise capital and create liquidity.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Abnormal Returns
SEPTEMBER 5, 2022
Podcasts Michael Kitces talks with Ed Coambs who is the founder of Healthy Love & Money, a financial therapy practice. (kitces.com) Eric Balchunas and Joel Weber talk with Patrick O'Shaughnessy about the case for custom indexing. (bloomberg.com) Daniel Crosby talks "all duration investing" with Cullen Roche who is the Founder and Chief Investment Officer of Discipline Funds.
Nerd's Eye View
SEPTEMBER 9, 2022
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that as Millennials grow their wealth, they could be increasingly turning to financial advisors for guidance. But amid competition from large asset managers and broker-dealers, advisors can consider how they can shape their service offerings and fee structures to attract Millennials and build client relationships that could last for decades to come.
The Big Picture
SEPTEMBER 8, 2022
Barry Ritholtz, Ritholtz Wealth Management Chairman & CIO and “Masters in Business” Bloomberg Radio & Podcast Host, discusses global shocks impacting market volatility (Source: Bloomberg). Hard for an Individual to Beat the Collective. Source: Bloomberg. The post Tough to Beat the Market appeared first on The Big Picture.
Calculated Risk
SEPTEMBER 9, 2022
The Federal Reserve released the Q2 2022 Flow of Funds report today: Financial Accounts of the United States. The net worth of households and nonprofits fell to $143.8 trillion during the second quarter of 2022. The value of directly and indirectly held corporate equities decreased $7.7 trillion and the value of real estate increased $1.4 trillion. Household debt increased 7.4 percent at an annual rate in the second quarter of 2022.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Abnormal Returns
SEPTEMBER 9, 2022
Business Patrick O'Shaughnessy talks with Jay Goldberg about the rise of AMD ($AMD). (joincolossus.com) Benjamin Gilbert and David Rosenthal talk about the history of Amazon Web Services. (acquired.fm) Ali Griswold talks with Eliot Brown, co-author of "The Cult of We: WeWork and the Great Startup Delusion." (oversharing.substack.com) Tom Dotan and Eric Newcomer talk with Mark Bergen author of "Like, Comment, Subscribe: Inside YouTube’s Chaotic Rise to World Domination.
Nerd's Eye View
SEPTEMBER 7, 2022
Tax-loss harvesting – i.e., selling investments at a loss to capture a tax deduction while re-investing the proceeds to maintain market exposure – is a popular strategy for financial advisors to increase their clients’ after-tax investment returns. For many, however, tax-loss harvesting remains somewhat more of an art than a science: Because the value of harvesting losses is so dependent on an individual’s own tax situation, there is no single strategy that can be impleme
The Big Picture
SEPTEMBER 3, 2022
The weekend is here! Pour yourself a mug of Bean Box coffee, grab a seat on the beach, and get ready for our longer-form weekend reads: • Americans are terrible at taking vacations. Why are U.S. workers so bad at taking time off? U.S. companies are stingy with vacation time when compared with other countries. But U.S. workers can’t seem to leave work at work anyway. ( Grid ). • In Seattle, It’s Almost Normal : The pandemic may have left some gaps in the urban fabric, but a neighborhood-by-neigh
A Wealth of Common Sense
SEPTEMBER 5, 2022
According to Bill Bryson, the visible universe is a million million million million miles across. That’s a 1 with 24 zeroes after it (1,000,000,000,000,000,000,000,000). That sounds rather large. But the universe beyond what we can see is even harder to comprehend: The number of light years to the edge of this larger, unseen universe would be written not “with ten zeroes, not even with a hundred, but with million.
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Abnormal Returns
SEPTEMBER 6, 2022
Fund selection Using maximum drawdown as a fund selection tool. (advisorperspectives.com) How do Morningstar's ($MORN) star ratings work in practice? (riabiz.com) The performance of active equity mutual fund managers continues to degrade. (morningstar.com) ETFs Sector ETFs by and large underperform the broad market. (papers.ssrn.com) ETF issuers need to have a strong online presence.
Nerd's Eye View
SEPTEMBER 5, 2022
Welcome to the September 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 VRGL (pronounced “Virgil”) has raised a $15M Series A round to scale up its tool that can scan investment account statements and automatically extract the available information about th
The Big Picture
SEPTEMBER 7, 2022
My mid-week morning train WFH reads: • Interest Rates vs. Inflation The average yields savers earned in the 1980s were higher than inflation, including education, healthcare and housing prices. Average yields remained above healing CPI numbers throughout the 1990s and 2000s. ( A Wealth of Common Sense ) see also Your guide to ‘good news is bad news’ and ‘bad news is good news’ High inflation has made for unusual times. ( TKer ). • The Obscure Economist Silicon Valley Bi
Calculated Risk
SEPTEMBER 6, 2022
Notes: This CoreLogic House Price Index report is for July. The recent Case-Shiller index release was for June. The CoreLogic HPI is a three-month weighted average and is not seasonally adjusted (NSA). From CoreLogic: CoreLogic: US Year-Over-Year Home Price Growth Dips Again in July as Higher Mortgage Rates Cool Demand CoreLogic®. today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for July 2022.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Abnormal Returns
SEPTEMBER 4, 2022
Top clicks this week The S&P 500 has been below its 200 day moving average for awhile now. (theirrelevantinvestor.com) The S&P 500 was unable to breach the 200 day moving average. (thereformedbroker.com) Investors can now get non-zero yields on risk-free assets. (awealthofcommonsense.com) Some drama at Goldman Sachs ($GS). (nypost.com) People who get out of the market have a hard time getting back in.
Nerd's Eye View
SEPTEMBER 8, 2022
For many financial advisors, the most valuable part of what they offer comes down to the financial advice that they give, whether it be the expert guidance they give to a certain niche or a unique point of view that presents unique insights to an individual client. However, the advice given to clients is not always the only useful offering provided, as the process through which financial advisors deliver their advice can also be an important part of their value proposition.
The Big Picture
SEPTEMBER 9, 2022
Introduced at the 1966 Turin Motor Show, the Ghibli was styled by Giorgetto Giugiaro with Carrozzeria Ghia. Dual air vents in its hood, chrome fender vent spears, and what looks like the longest bonnet ever made created a unique design for this Maserati V8 grand tourer. American magazine Sports Car International named it number 9 on its list of Top Sports Cars of the 1960s.
Calculated Risk
SEPTEMBER 9, 2022
The DOL reported : In the week ending September 3, the advance figure for seasonally adjusted initial claims was 222,000 , a decrease of 6,000 from the previous week's revised level. The previous week's level was revised down by 4,000 from 232,000 to 228,000. The 4-week moving average was 233,000, a decrease of 7,500 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
A Wealth of Common Sense
SEPTEMBER 7, 2022
I’ve been watching The Offer on Paramount Plus recently. It tells the story of the making of The Godfather, arguably one of the best films of all-time, and how it almost never made it to the big screen. There was an unproven director (Francis Ford Coppola), a one-hit-wonder writer (Mario Puzo), an unproven producer (Al Ruddy) and an eccentric movie executive (Robert Evans).
The Irrelevant Investor
SEPTEMBER 7, 2022
One of these things is not like the others. A 60/40 portfolio just experienced the worst eight-month stretch to start a year going back to the inception of the Barclay’s aggregate bond index in 1976. One year ago the 10-year rate was 1.32%. It’s 3.35% today. The last time it experienced a 12-month increase that large was in January 2000!
The Big Picture
SEPTEMBER 5, 2022
It’s Labor Day, the unofficial end of Summer. Ease off with our special 3-day weekend reads: • Enough, Bosses Say: This Fall, It Really Is Time to Get Back to the Office* After more than two years, corporate leaders say time is up on avoiding in-person work. ( Wall Street Journal ). • A Job Market Anomaly Begins to Correct : After diverging for awhile, business and household surveys of employment are headed in the same direction again: Up. ( Bloomberg ) see also The Labor Shortage Will Get
Calculated Risk
SEPTEMBER 7, 2022
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 0.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 2, 2022. The Refinance Index decreased 1 percent from the previous week and was 83 percent lower than the same week one year ago.
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.
A Wealth of Common Sense
SEPTEMBER 3, 2022
I’m not afraid to wade into The Compound YouTube comments on occasion. Sure, sometimes people on the internet can be mean but once you get over a handful of those comments it’s good to hear some feedback, pushback, further research, jokes, questions and thoughts from your audience. In the comments for last week’s Animal Spirits someone called us out for being too bearish: This was a new experience for.
Wealthfront
SEPTEMBER 3, 2022
Today we announced that together with UBS we decided to terminate our pending acquisition and will instead remain an independent company. We are continuing to explore ways to work together in a partnership and UBS has given us $69.7 million in financing at a $1.4 billion valuation. I am incredibly excited about Wealthfront’s path forward […]. The post Our Plans to Remain an Independent Company appeared first on Wealthfront Blog.
The Big Picture
SEPTEMBER 4, 2022
I would do this in a heartbeat: “At Austin, Texas-based Moment Motor Co., beloved vintage cars from Porsches to DeLoreans are converted into electric vehicles, making them cleaner and more reliable while retaining their classic feel.” The Shop Where High-End Classic Cars Go Electric. Source: Bloomberg , April 6th, 2022. See also : Moment Motors, Co.
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