Nerd's Eye View

JANUARY 9, 2023

While it may be easy to assume that having more money would make a person happier by opening consumption opportunities unavailable to those with less income, experienced advisors can likely identify many examples of high-income individuals who are unhappy with their lives. To provide a more holistic view, researchers have sought to assess whether increased income leads to greater happiness on two dimensions: emotional wellbeing (how an individual feels today) and evaluative wellbeing (how an ind

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The Big Picture

JANUARY 13, 2023

It may surprise you to learn that during this cycle of falling inflation, there seems to be little correlation with rising Fed Rates. This is very counter-intuitive but it makes sense when you consider what an aberrational and unusual cycle this has been. Despite zero rates for a decade plus inflation was quite benign. it was only the combination of the global pandemic and lockdown, a massive fiscal stimulus, and a surge in demand for goods that have driven the 2020 to 2022 inflation.

Economy 347

Economy Marketing Marketing 347

The Reformed Broker

JANUARY 7, 2023

Happy New Year everyone! Great to be back in the saddle this week, working with our new president as we prepare for 2023 and beyond. We’ve got lots of projects and initiatives underway at Ritholtz Wealth, some of which you’ll be hearing about from me very soon. This week we went back to our regularly scheduled programming, with fresh episodes of all your favorite shows – What Are Your Thoughts, Animal Sp.

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Abnormal Returns

JANUARY 11, 2023

Podcasts Christine Benz and Jeff Ptak talk with Mark Miller, author of "Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track." (the-long-view.simplecast.com) A discussion about when it is time to adjust your retirement plans. (mullooly.net) Banking High yield bank savings accounts are now actually high yield. (awealthofcommonsense.com) The BNPL bubble is set to burst.

Planning 245

Planning Retirement Planning Retirement Retail 245

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.

Accounting

Nerd's Eye View

JANUARY 12, 2023

As comprehensive financial planning has become more widely adopted, many financial advisors have felt pressure to find new ways to differentiate themselves by demonstrating their unique value to clients. And while providing fee-only advice or highlighting service as a fiduciary may have once been a fair differentiator, these services are now often considered table stakes, necessitating financial advisors to find more creative solutions that show current and prospective clients that they provide

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Clients Communication Fee Only Financial Advisor 244

The Reformed Broker

JANUARY 13, 2023

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Callie Cox, and Downtown Josh Brown discuss discuss the latest CPI data, why Michael’s feeling a little bullish, calling the Fed’s bluff, chances of a soft landing, retail investor sentiment, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!

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Retail Marketing Marketing 262

Abnormal Returns

JANUARY 11, 2023

Markets How does the 60/40 portfolio perform after big down years? (awealthofcommonsense.com) GMO loves deep value stocks. (ft.com) FTX Bankruptcy courts were not built to unwind crypto messes like FTX. (economist.com) Alameda Research made a big investment in miner Genesis Digital Assets soon before the FTX unwind. (wsj.com) BITO Bitcoin tanked in 2022 but Bitcoin futures ETPs held in there.

Financial Advising 244

Financial Advising Startup Economy Media 244

Nerd's Eye View

JANUARY 13, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the Federal Trade Commission has proposed a nationwide ban on noncompete clauses in employee contracts, aiming to give employees more freedom to change jobs within the same industry. In the advisor world, where noncompete agreements are fairly common, a ban on the practice could incentivize firms to reassess their employee value proposition and to conside

Financial Planner 241

Financial Planner Retirement Planning Compliance Retirement 241

The Big Picture

JANUARY 12, 2023

CPI for December 2021 came in as expected , showing a decrease in core inflation is driven primarily by falling gasoline prices. Most in the media have credited the aggressive action by the Federal Reserve in helping to lower rates of inflation, but I have a decidedly different view: Inflation has come down not because of but despite the rate-increasing regime of the Federal Reserve.

Economy 299

Economy Economics Media Retirement 299

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.

Accounting

The Reformed Broker

JANUARY 11, 2023

After December’s trash fire, markets are optimistic, says Ritholtz’s Josh Brown from CNBC. The post Clips From Today’s Closing Bell appeared first on The Reformed Broker.

Marketing 246

Marketing Marketing 246

Abnormal Returns

JANUARY 9, 2023

Markets There's no sign that options trading is slowing down. (wsj.com) The 10-year Treasury rates peaked back in the Fall. (axios.com) Finance Private equity managers are abusing their discretion when it comes to valuations. (institutionalinvestor.com) Goldman Sachs ($GS) is laying off thousands of workers this week. (thinkadvisor.com) Black founders in the U.S. raised about 1% of 2022 venture capital funding.

Financial Advising 242

Financial Advising Valuation Media Economy 242

Pragmatic Capitalism

JANUARY 13, 2023

We are going to do a new 3 Minute Macro “Ask Me Anything” edition. It should be out next week or so.

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The Big Picture

JANUARY 13, 2023

My Friday the 13th, end-of-week morning train WFH reads: • F@*$#*! 2022 was a record year for earnings call swearing : The “polycrisis” of runaway inflation, pandemics, interest rate increases, supply chain snafus and wars helped lift swearing on earnings calls and investor days to a new record high in 2022. Good job everyone. ( Financial Times Alphaville ). • Elon Musk Might Never Be the World’s Richest Person Again : It’s not just that he became the first person in history to have $200 billion

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Media Transportation Engineering Distribution 276

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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.

Accounting

A Wealth of Common Sense

JANUARY 10, 2023

It’s now well-documented that 2022 is one of the worst years in history for financial markets. Last year was one of the worst years ever for stocks and the worst year ever for bonds. The logical next step is to look at what has happened next following the prior worst years for stocks, bonds and diversified portfolios. Past performance tells us nothing about future performance but studying market history can provide.

Financial Market 145

Financial Market Portfolio Marketing Marketing 145

Abnormal Returns

JANUARY 10, 2023

Markets What role do interest rates have in stock prices? (ofdollarsanddata.com) Why the golden age of biotech stocks may be over. (statnews.com) Crypto Coinbase ($COIN) is laying off 20% of its workforce. (cnbc.com) Why so many are focused on the big discount on the Grayscale Bitcoin Trust ($GBTC). (blockworks.co) Could another firm actually take over management of GBTC?

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Recruitment Financial Advising Engineering Media 240

Calculated Risk

JANUARY 12, 2023

The Cleveland Fed released the median CPI and the trimmed-mean CPI: According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.4% in December. The 16% trimmed-mean Consumer Price Index increased 0.4% in December. "The median CPI and 16% trimmed-mean CPI are measures of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics’ (BLS) monthly CPI report".

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Food Banking Accounting 145

The Big Picture

JANUARY 7, 2023

The weekend is here! Pour yourself a mug of Tolima Los Brasiles Peaberry coffee, grab a seat outside, and get ready for our longer-form weekend reads: • How Not to Play the Game : Magic beans, Bahamian penthouses, old-fashioned fraud and other important SBF-inspired insights. A postscript to Bloomberg Businessweek’s The Crypto Story. ( Businessweek ). • 99 Good News Stories You Probably Didn’t Hear About in 2022 : The world didn’t fall apart this year.

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Communication Management Marketing Marketing 262

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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.

Banking

A Wealth of Common Sense

JANUARY 8, 2023

We have a handful of traditions in my family. We watch the Lions lose every year on Thanksgiving. We wear Hawaiian shirts at holiday dinners (try it…it’s fun). We get Chinese takeout for lunch every year on Christmas day. And we update my asset allocation quilt once a year when the calendar turns (OK that’s just me). Let’s do this.

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Asset Allocation Assets Marketing Marketing 145

Abnormal Returns

JANUARY 8, 2023

Also on the site Dropping habits that don't serve you is just as important as adopting new habits. (abnormalreturns.com) Top clicks this week 15 charts that explain 2022 returns. (morningstar.com) Average annual stock market returns are not-so average. (awealthofcommonsense.com) How to talk to adult children about inheritances. (kindnessfp.com) Five ETF predictions for 2023 including an end to $SPY's reign.

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Startup Retirement Portfolio Marketing 163

Pragmatic Capitalism

JANUARY 13, 2023

Here are some things I think I am thinking about: 1) The 3 Most Important Charts Today We posted a new 3 Minute Macro video about the three most important [ … ]

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The Big Picture

JANUARY 11, 2023

My mid-week morning train WFH reads: • The Fed May Finally Be Winning the War on Inflation. But at What Cost? There’s a good chance that the Fed could push the economy into recession. The pain will not be shared equally. ( New York Times ). • Something big is happening in the U.S. housing market—here’s where 27 leading research firms think it’ll take home prices in 2023.

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Retail Economy Marketing Marketing 258

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

Numbers

Calculated Risk

JANUARY 9, 2023

Altos reports inventory is down 4.0% week-over-week. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of January 6th, inventory was at 471 thousand (7-day average), compared to 491 thousand the prior week. Inventory has declined sharply seasonally in the winter. The second graph shows the seasonal pattern for active single-family inventory since 2015.

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Abnormal Returns

JANUARY 13, 2023

Markets What has happened since the U.S. dollar topped out. (allstarcharts.com) Credit spreads are off their 2022 highs. (allstarcharts.com) Dividends The return from stock dividends compound over time. (awealthofcommonsense.com) Investing solely based on dividend yields is a mug's game. (humbledollar.com) Companies Apple's ($AAPL) CEO Tim Cook is taking a pay cut.

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Financial Advising Media Economy Investing 148

A Wealth of Common Sense

JANUARY 13, 2023

I don’t like making big, bold macro predictions. There are too many unknown variables involved and even if I did nail my macro forecast, it probably wouldn’t help my portfolio anyway since the market reaction to the economic data is more important than the data itself. Last week Michael and I were on Plain English with Derek Thompson discussing the confusing nature of the current macro environment.

Economics 131

Economics Portfolio Marketing Marketing 131

The Big Picture

JANUARY 8, 2023

This is about as nice of an example of a vintage 1990s-era 911 Turbo as you will find — but let’s get this out of the way up front: It sold last month for an eye-popping $1,265,000. That is quite an increase from the 1994 dealer selling price of $126,360. Why does a 30-year-old Porsche command 7 figures? As best as I can tell, the combination of rarity, conditions, ultra-low miles, and options made this a bit of a one-off for collectors.

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Distribution 223

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.

Financial Advice

Calculated Risk

JANUARY 10, 2023

With the pandemic, there was a surge in 2nd home buying. I'm looking at data for some second home markets - and I'm tracking those markets to see if there is an impact from lending changes, rising mortgage rates or the easing of the pandemic. This graph is for South Lake Tahoe since 2004 through December 2022, and shows inventory (blue), and the year-over-year (YoY) change in the median price (12-month average).

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Marketing Marketing 136

Abnormal Returns

JANUARY 13, 2023

The biz We are at the beginning of the AI-read audiobook wave. (arstechnica.com) AI narrators are better than you think. (slate.com) Text-to-speech is becoming incredibly simple. (arstechnica.com) A Random Walk Down Wall Street Peter Lazaroff talks with Burton Malkiel about the newly released 50th-anniversary edition of "A Random Walk Down Wall Street.

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Food Sales Management 130

Nerd's Eye View

JANUARY 11, 2023

Leading up to 2022, financial advisors and their clients had grown accustomed to a relatively low mortgage rate environment. In fact, until earlier this year, the average 30-year fixed mortgage rate had stayed below 5% since 2010 (and below 7% since 2001). But as the Federal Reserve has sought to raise interest rates this year to combat inflation, mortgage rates have reached higher levels not seen in more than 20 years, with 30-year fixed mortgages reaching an average of 6.9% in October 2022, tw

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Clients Financial Advisor Financial Planning Government 130