The Big Picture
SEPTEMBER 28, 2022
Around the world, markets lost 5% or worse just last week. Year to date, the S&P 500 is down more than 23%; the Russell 2000 small caps are off more than 26%; Emerging markets are down almost 28%; and the Nasdaq Tech index is off more than 31%. All jokes aside , September has lived up to its reputation as a challenging month for equities. After the brutal sell-off, a relief rally was due, hence the green on your screen this morning.
The Reformed Broker
SEPTEMBER 26, 2022
All of the value creation for investors comes from the actions they take in falling markets, not rising ones. If you’re not yet in retirement and not finished putting money into your retirement accounts, every 5% the market falls is an increased opportunity for you to buy things that will be worth much more in the future when you eventually sell them.
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Nerd's Eye View
SEPTEMBER 29, 2022
As an individual begins planning for retirement, one of the factors often considered is whether (and where) they might relocate to enjoy their retirement. When evaluating their potential options across the U.S., a state’s income tax rules can have a significant impact on where they might choose to live. The perception of a state as having high or low taxes could make it more or less attractive for someone choosing where to relocate, and those perceptions are often skewed by the state’
Abnormal Returns
SEPTEMBER 29, 2022
Podcasts Brett McKay talks with Nick Maggiulli about his book "Just Keep Buying: Proven Ways to Save Money and Build Your Wealth." (artofmanliness.com) Six questions you should ask your financial advisor, including 'If something happens to you, who will take over my account?' (peterlazaroff.com) Housing There is a lot about our financial lives we can't control, including home prices.
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 25, 2022
This week, we speak with Steve Case , co-founder of America On-Line (AOL), founder of investment firm Revolution , Chair of the Smithsonian, and author of The Rise of the Rest: How Entrepreneurs in Surprising Places are Building the New American Dream. We discuss how he launched America Online in 1985 back when the internet was restricted to academia and the government.
Financial Advisor Source brings together the best content for financial advisor professionals from the widest variety of industry thought leaders.
Pragmatic Capitalism
SEPTEMBER 30, 2022
Just a quick note here in case you noticed the new email subscription feed. Google recently killed Feedburner so we moved everything over to FollowIt.
Abnormal Returns
SEPTEMBER 28, 2022
Rates Yields on cash equivalents are rising rapidly. (wealthmanagement.com) Rapidly rising real interest rates provide competition for stocks. (capitalspectator.com) Expected returns on bonds are finally attractive. (awealthofcommonsense.com) Markets Lumber prices are back down to pre-pandemic levels. (wsj.com) Don't fight the last war: this isn't 2008.
The Big Picture
SEPTEMBER 29, 2022
For years, we have heard that “there is no alternative” – TINA – to equities, and that thanks to the Fed, “Cash is trash.”. No longer. The Federal Reserve, in its belated attempt to fight inflation, has cranked up rates to the point where today, there is an alternative to stocks: Bonds. It’s been over two decades since the Fed first began panic cutting interest rates in response to such events as the 1998 Long Term Capital Management implosion, the 2000 dotcom crash (2001-03), the Septembe
The Reformed Broker
SEPTEMBER 25, 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.
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.
Nerd's Eye View
SEPTEMBER 28, 2022
Welcome back to the 300th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Joe Duran. Joe is a Partner and Head of Goldman Sachs Personal Financial Management, a national wealth management firm within Goldman Sachs which oversees more than $100 billion in assets under advisement for tens of thousands of client households.
Abnormal Returns
SEPTEMBER 25, 2022
Markets Quality stocks have not been a defense against a bear market. (wsj.com) TIPS yields are at their highest level in a decade. (marketwatch.com) How rogue waves help explain market disasters. (bestinterest.blog) Strategy The bear case is obvious. What's the bull case? (theirrelevantinvestor.com) Why you should be happier investing today than a year ago.
The Big Picture
SEPTEMBER 25, 2022
The weekend is here! Pour yourself a mug of BeanBox coffee, grab a seat int he den, and get ready for our longer-form weekend reads: • LaGuardia Airport Is No Longer the Worst. This Team Fixed It : An elite squad was tasked with making sure the gleaming Terminal B was ready to open. There are lessons from LaGuardia for every business. ( Wall Street Journal ). • The robots are here.
The Reformed Broker
SEPTEMBER 29, 2022
Apple is actually a detractor from the market today, says Ritholtz’s Josh Brown from CNBC. The post Clips From Today’s Closing Bell appeared first on The Reformed Broker.
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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.
Nerd's Eye View
SEPTEMBER 26, 2022
In a now-famous 1970 paper, economist George Akerlof used the market for used cars to demonstrate the negative effects that can occur when there are significant information asymmetries between buyers and sellers of a good or service. He highlighted the market for used cars at the time, where, because consumers could not be sure of the quality of a used car they were offered, they were only willing to pay the price of a car in average condition, driving out sellers of high-quality used cars (R
Abnormal Returns
SEPTEMBER 25, 2022
Also on the site A home is a bundle of things, not just a house with a mortgage attached. (abnormalreturns.com) Top clicks this week There is a big problem with investing more during sharp market declines. (ofdollarsanddata.com) How much do interest rates matter for the stock market? (awealthofcommonsense.com) The Uber ($UBER) hack is bad, real bad.
The Big Picture
SEPTEMBER 26, 2022
My back-to-work morning train WFH reads: • What is the Fed Doing? Don’t fight the Fed used to be a positive slogan. That’s not the case anymore. If anything, it feels like the Fed wants to fight us, all of us, including the stock market and the economy. The Fed is actively trying to crash the stock market, break the housing market and push the economy into a recession.
The Reformed Broker
SEPTEMBER 28, 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: ?Reverse Face Ripper – I broke one of my cardinal rules as a market commentator. ?RIP BTD – It is the worst year for buying the stock-market dip since the 1930s. ?
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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.
A Wealth of Common Sense
SEPTEMBER 25, 2022
Don’t fight the Fed used to be a positive slogan. That’s not the case anymore. If anything, it feels like the Fed wants to fight us, all of us, including the stock market and the economy. The Fed is actively trying to crash the stock market, break the housing market and push the economy into a recession. How do I know this? Because Fed officials are literally telling us this every time they speak.
Abnormal Returns
SEPTEMBER 30, 2022
Strategy It's been a long time since you could say bonds were competition for stocks. (ritholtz.com) Mitigating risk in your portfolio always comes with a trade-off. (blog.validea.com) International stocks Why you shouldn't hedge the currency exposure of international stocks. (monevator.com) This week shows why you need to mitigate your home country bias.
The Big Picture
SEPTEMBER 30, 2022
At Future Proof , I spoke with hosts Jeffrey Sherman and Samuel Lau of Doubleline + The Sherman Show about investing, the future of financial conferences, and why not failing means you are not taking enough risk. It’s fun conversation, and Jeff & Sam are great hosts. TSS Episode 125: Barry Ritholtz on Financial Advisers, Clients, Market Outlooks and Building Portfolios.
The Reformed Broker
SEPTEMBER 28, 2022
Final Trades: Deere, Johnson & Johnson, UnitedHealth & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
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
Calculated Risk
SEPTEMBER 28, 2022
The Census Bureau reports New Home Sales in August were at a seasonally adjusted annual rate (SAAR) of 685 thousand. The previous three months were revised up, combined. Sales of new single?family houses in August 2022 were at a seasonally adjusted annual rate of 685,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
Abnormal Returns
SEPTEMBER 29, 2022
Markets Less than 10% of Nasdaq stocks are above their 200-day moving average. (theirrelevantinvestor.com) The Nasdaq has been outperforming the S&P 500 since June. (allstarcharts.com) IPOs are down to GFC-type levels. (ft.com) Strategy If you have to speculate in the markets, at least follow these guidelines, including 'Do not speculate on the margin.
The Big Picture
SEPTEMBER 24, 2022
? ?. Visual Capitalist : “The sharp rise in interest rates has sent shockwaves through markets. The S&P 500 Index has steadily declined ~20% year-to-date, and the NASDAQ Composite Index has fallen ~30%. Bond markets are also showing signs of uncertainty, with the 10-year minus 2-year Treasury yield curve acting as a prime example. This yield curve subtracts the return on short-term government bonds from long-term government bonds.” The post Visualizing Interest Rates Since 2020 a
The Reformed Broker
SEPTEMBER 30, 2022
Final Trades: Salesforce, Volkswagen, Booz Allen & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
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.
Calculated Risk
SEPTEMBER 26, 2022
Active inventory increased for the 2nd consecutive week, increasing 0.9% last week, and hitting a new peak for the year. Here are the same week inventory changes for the last four years: 2022: +4.9K 2021: -3.7K 2020: -5.2K 2019: -0.3K Inventory bottomed seasonally at the beginning of March 2022 and is now up 131% since then. More than double! Altos reports inventory is up 28.7% year-over-year.
Abnormal Returns
SEPTEMBER 26, 2022
Podcasts Christine Benz and Jeff Ptak talk with Tim Steffen, director of tax planning for Baird. (morningstar.com) Michael Kitces and Carl Richards talk about repurposing lessons from clients for content. (kitces.com) Daniel Crosby talks with Tom Morgan about personal myth making. (standarddeviationspod.com) Future Proof Lisa Shidler, "Future Proof 2022's festival-style event was a hit and will return next year to the same Huntington Beach coastal location.
The Big Picture
SEPTEMBER 30, 2022
My morning train WFH reads: • The Forbes 400 2022: The Definitive Ranking of The Wealthiest Americans : In 2022 The wealthiest people in the U.S. are poorer than a year ago—and the cutoff to make the list fell for the first time since the Great Recession. ( Forbes ). • Sympathy for the Dimon : He’s dealing with an important shortage: Balance Sheet. ( Financial Times ) see also The Reinvention of Goldman Sachs : what has David Solomon achieved?
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