The Reformed Broker
SEPTEMBER 23, 2022
A recession so contrived and man-made that every economist, politician, business owner, college student, CEO, rapper and professional athlete has been able to see it coming in real-time for months and months… Take a picture, you may never see anything so obviously about to happen ever again. A child could have foreseen it. At a certain point, a person who is charge of price stability should probably look in the mirr.
The Big Picture
SEPTEMBER 21, 2022
One of the things we know about inflation expectations is that Federal Reserve Chairman Jerome Powell relies heavily on them. He thinks about expectations, gives speeches on them, and uses the data series when enacting Federal Reserve policies to combat inflation. The problem is that all consumer surveys (including inflation expectations) are deeply problematic.
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Abnormal Returns
SEPTEMBER 21, 2022
Podcasts Daniel Crosby talks with Morgan Housel author of "The Psychology of Money." (standarddeviationspod.com) Christine Benz and Jeff Ptak talk with Farnoosh Torabi about navigating family money dynamics. (morningstar.com) Cody and Justin talk with Vitaliy Katsenelson about his new book "Soul in the Game." (thefishow.com) College Parent PLUS loans are a disaster.
Nerd's Eye View
SEPTEMBER 21, 2022
There are many financial advisors who take issue with the financial advice offered by popular personal finance personalities such as Dave Ramsey. Some disagree on technical details like the plausibility (or purported lack thereof) of his assumptions for future investment returns, while others criticize broader elements of his approach (like his reliance on rules of thumb and a one-size-fits-all approach to building wealth).
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 Reformed Broker
SEPTEMBER 17, 2022
Here’s a group shot of my team at Ritholtz Wealth and the Advisor Circle group with whom we put on the inaugural Future Proof Festival this week. There are a lot of similarities between our two companies. Barry and I started RWM because we had both reached the point in our respective careers where we’d had enough of watching other firm owners bumble and stumble their way into mediocrity.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Pragmatic Capitalism
SEPTEMBER 19, 2022
I joined Dr. Daniel Crosby on the Standard Deviations podcast for a wide ranging discussion about portfolio management and navigating the conspiracy theories of the financial markets.
Nerd's Eye View
SEPTEMBER 23, 2022
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the SEC has issued a risk alert putting advisors on notice that examiners will be conducting a number of reviews to evaluate how firms are complying with the Commission’s new marketing rule, which it will begin to enforce starting November 4.
Abnormal Returns
SEPTEMBER 21, 2022
Strategy Why learning to be a good investor is difficult. (behaviouralinvestment.com) What fantasy football can teach us about investing. (impersonalfinances.com) Beware of the narcissistic CEO. (klementoninvesting.substack.com) Companies What is the potential financial impact of the 'GTA VI' hack on Take-Two ($TTWO). (variety.com) Opendoor ($OPEN) is feeling the pain of falling house prices.
The Big Picture
SEPTEMBER 23, 2022
The Devil must be strapping on his ice skates: Ferrari just introduced the Purosangue, a 4-door, 4-seater SUV crossover. We should not be surprised. Other sports car makers have embraced the SUV to great success: The Cayenne (literally) saved Porshe from bankruptcy; Lamborghini Urus helped drive the company’s worth to ~$11 billion. That Maranello wants some of that juice reveals how the modern world of ultra-luxury playthings works.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Pragmatic Capitalism
SEPTEMBER 19, 2022
Here’s a new 3 Minute Money. In this video I discuss the implications of the surging US Dollar: Why is the USD surging despite rising inflation?
Nerd's Eye View
SEPTEMBER 19, 2022
2022 marks the 50 th anniversary of the enrollment of students into the first Certified Financial Planner (CFP) course, and in the years since then, financial planning (and the process of creating a financial plan) has changed extensively. Early on, the ‘financial plan’ was primarily used as a way to demonstrate a prospective client’s ‘gaps’ and needs for products such as mutual funds or life insurance (which the advisor would then be ready to sell to the client).
Abnormal Returns
SEPTEMBER 23, 2022
The biz Are the days of the blockbuster podcast long gone? (vulture.com) Frederick Geischen talks with Patrick O'Shaughnessy about building Colossus into a self-perpetuating learning machine. (manual.withcompound.com) Spotify ($SPOT) is going to start offering audiobooks on the platform. (theverge.com) Business Nilay Patel talks supply chains with Flexport CEO Ryan Petersen.
The Big Picture
SEPTEMBER 19, 2022
? ?. The transcript from this week’s, MiB: Albert Wenger, Union Square Ventures , is below. You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , Bloomberg , and Acast. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~. ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio.
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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.
Pragmatic Capitalism
SEPTEMBER 18, 2022
Here’s a good podcast I did earlier this month about Monetary Policy and the Federal Reserve. Jack and Justin are great friends of mine and run an excellent podcast called [ … ].
Nerd's Eye View
SEPTEMBER 20, 2022
Welcome back to the 299th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Tim Regan. Tim is the founder of PrairieView Wealth Partners, a hybrid advisory firm based in Orland Park, Illinois, that oversees $100 million in assets under management for 190 client households. What's unique about Tim, though, is how he leverages the independence he gained by transitioning from an insurance agency model to becoming a hybrid with Thrivent Advisor Network to focus his fi
The Reformed Broker
SEPTEMBER 23, 2022
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Joy Wiltermuth, and Downtown Josh Brown discuss Future Proof, the housing landscape, Jay Powell and the Fed, the yield curve, recession fears, and much more! This episode was recorded in front of a live audience at MarketWatch’s Best New Ideas in Money Festival on 9/22/22.
The Big Picture
SEPTEMBER 19, 2022
My back-to-work morning train WFH reads: • Most pros can’t beat the market : 2021 is the 13th consecutive years in which the majority of fund managers in this category have lagged the index. ( TKer ). • The 55-and-Older Labor Market Exodus Is a Statistical Mirage People in their late 50s and early 60s haven’t stopped working, and for those over 65, workforce participation declines have been smaller than generally portrayed. ( Bloomberg ) see also Quiet Quitting Is a Fake Trend : What peopl
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.
Abnormal Returns
SEPTEMBER 22, 2022
Markets Retail investors have been this bearish only five other times in history. (twitter.com) The rise in interest rates has been relentless. (capitalspectator.com) FAANG The FAANG stocks, except for Apple ($AAPL) are in big drawdowns. (theirrelevantinvestor.com) Google ($GOOGL) and Meta ($META) are tightening their belts. (vox.com) Bubbles Why the SPAC bubble burst.
Nerd's Eye View
SEPTEMBER 22, 2022
As the world becomes increasingly digital, the barrier to get one’s ideas out and in front of others becomes lower and lower. In the financial sector, in particular, this has led to an open floodgate of financial tips and advice. Many financial advisors have found that sharing their own expertise and marketing their intellectual property are great ways to establish themselves as dependable, trustworthy sources.
The Reformed Broker
SEPTEMBER 22, 2022
We are getting into a situation where this is a really good investing environment, says Ritholtz’s Josh Brown from CNBC. The post Clips From Today’s Closing Bell appeared first on The Reformed Broker.
The Big Picture
SEPTEMBER 17, 2022
The weekend is here! Pour yourself a mug of Bean Box coffee, grab a seat on the sofa, and get ready for our longer-form weekend reads: • The Illusion of Knowledge : I’ve been expressing my disregard for forecasts for almost as long as I’ve been writing my memos, starting with The Value of Predictions, or Where’d All This Rain Come From in February 1993.
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
SEPTEMBER 22, 2022
Books Insights from "Two and Twenty: How the Masters of Private Equity Always Win" by Sachin Khajuria (newrepublic.com) A Q&A with Lina Flanagan author of "Take Back the Game: How Money and Mania Are Ruining Kids’ Sports, and Why It Matters." (annehelen.substack.com) An excerpt from "The Year Of The Puppy - How Dogs Become Themselves" by Alexandra Horowitz.
Pragmatic Capitalism
SEPTEMBER 19, 2022
Here’s a good podcast I did earlier this month about Monetary Policy and the Federal Reserve.
The Reformed Broker
SEPTEMBER 20, 2022
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: ?FedEx or Uber? – Fedex kicks us off with a big disappointing announcement one week before scheduled earnings… ?A Less Intense Low – “Watching for a “Less Intense” October Low” ?
The Big Picture
SEPTEMBER 20, 2022
My Two-for-Tuesday morning train reads: • Rising Bond Yields Change the Calculus for Stocks : Whether markets get any reprieve from their recent selloff depends in part on what happens at the Fed meeting. ( Wall Street Journal ) see also Municipal Bonds Suddenly Look Cheap. Some Are Tax Traps. Investors are bailing out of municipal bond funds at a record pace, but bargain hunters should beware of some potential pitfalls. ( Wall Street Journal ). • Interest Rates Are Up, So Why Are Bank Stocks Do
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
SEPTEMBER 22, 2022
Markets Market valuations are a lot more attractive than they were a year ago. (blog.validea.com) Visualizing U.S. interest rates since 2020. (visualcapitalist.com) Strategy The hardest part of investing is holding through tough times. (evidenceinvestor.com) A lot of investor problems are self-inflicted. (mantaro.money) Media Jeff Jarvis, "If network prime time has lost its value, so have networks, so has television, so has broadcast.
A Wealth of Common Sense
SEPTEMBER 23, 2022
Earlier this week I posted a chart showing how volatile the stock market has been this year: Things have gotten even more volatile since then. This post prompted the following response from someone on Twitter experiencing their first bear market: Yes, there is precedent for this. These are all of the bear markets since World War II: If anything, it’s surprising the current iteration isn’t down more.
The Reformed Broker
SEPTEMBER 19, 2022
TONIGHT AT 5:30PM EST! Michael Lombardi joins Michael Batnick and I on a special episode of Live from The Compound! Michael Lombardi is a former General Manager and three-time Super Bowl-winning NFL executive, after thirty years working for the New England Patriots, San Francisco 49ers, the Oakland Raiders, and the Cleveland Browns. He also has a top-ten sports podcast, GM Shuffle, on the Ringer podcast network.
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