The Big Picture

OCTOBER 18, 2022

At the beginning of each quarter, I prepare a short but in-depth conference call for RWM clients. The team & I put together the most revealing and informative slides. In that half hour, I blow through ~40 slides that capture and explain what is going on. About a quarter of the October 2022 slides were focused on real estate. This is atypical. The reason we emphasized real estate this Q is that housing is very often where we see FOMC policy having its most immediate effect.

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Budgeting Economy Taxes Economics 363

The Reformed Broker

OCTOBER 15, 2022

Hey guys, didn’t get a chance to do any writing this week but we did two really good shows on the YouTube / podcast front I wanted to make sure you don’t miss… 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

OCTOBER 21, 2022

Finance Per AngelList, the Q3 drop in venture activity was substantial. (angellist.com) Questions keep getting raised about TikTok's data practices. (forbes.com) Fidelity is not abandoning crypto. (bloomberg.com) InstaCart has paused its IPO. (axios.com) Global Why isn't Japan raising rates? (nytimes.com) The backlog of container ships off the coast of Southern California is effectively gone.

Financial Advising 246

Financial Advising Media Economy Economics 246

Nerd's Eye View

OCTOBER 20, 2022

In recent years, politically charged topics have become the forefront of news and media, and with the rise of access to digitally distributed media, it has become commonplace for clients to have concerns about the possible impact of political events on their portfolios. These concerns have compelled many clients to reach out to their advisors, urging them to make changes in response to the political environment.

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Portfolio Clients Financial Planning Communication 246

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

The Big Picture

OCTOBER 16, 2022

This is pretty mind-blowing: a podcast that is entirely generated by artificial intelligence where Joe Rogan interviews Steve Jobs. One of the most important women in Apple’s history never worked for Apple Margot Comstock took her winnings from a TV game show and bought a computer. It led to a magazine, which turned into a major hub for the nascent community of developers and fans of one of the most important computers in history.

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Abnormal Returns

OCTOBER 18, 2022

Research Are index funds to blame for the lack of investment in oil and gas production? (ft.com) On the relationship between asset growth and lottery stock status. (alphaarchitect.com) The problem with growth: persistence is fleeting. (mailchi.mp) Why companies see a jump in their stock price when they hire a black CEO. (wapo.st) Is democracy good for the stock market?

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Assets Investing Investments Marketing 246

Nerd's Eye View

OCTOBER 17, 2022

After more than 2 years of ongoing disruptions, from the original COVID-19 outbreak, to wave after wave of variants as the pandemic rolled on, 2022 proved to be the year that advisor conferences were “back”, as events ceased canceling or rescheduling in response to new variants and powered forward… often with virtual options for those who still felt uncomfortable traveling, but with most events actually reaching or even exceeding their pre-pandemic highs as advisors showed that

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Financial Advisor Education Budgeting Management 246

The Big Picture

OCTOBER 20, 2022

Which cities have the greatest housing bubble risk? That is the basis of this very interesting graphic from UBS. The full PDF is well worth your time to peruse through – you can find it here: UBS Global Real Estate Bubble Index. Source : UBS Global Real Estate Bubble Index 2022. The post Global Real Estate Bubble Index appeared first on The Big Picture.

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The Reformed Broker

OCTOBER 21, 2022

Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Dan Greenhaus, and Downtown Josh Brown discuss what constitutes a recession, the Fed, ramifications of a strong dollar, Tesla’s earnings call, buybacks, the importance of interest rates, and more! BONUS: Barry Ritholtz makes a special appearance! You can listen to the whole thing below, or find it wherever you like to listen to.

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Marketing Marketing 152

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

Abnormal Returns

OCTOBER 20, 2022

Strategy Diversifiers don't always work. (rogersplanning.blogspot.com) Another example of why running money is difficult. (ft.com) Crypto The vast majority of El Salvador thinks its Bitcoin experiment was a mistake. (barrons.com) IPOs Aside from Airbnb ($ABNB), gig economy stocks have been a disaster. (oversharing.substack.com) Newly public real estate startups have been a disaster as well.

Financial Advising 246

Financial Advising Startup Economy Media 246

Nerd's Eye View

OCTOBER 21, 2022

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that Congress appears poised to pass a series of changes affecting retirement planning, dubbed “SECURE ACT 2.0”, by the end of the year. Provisions in the proposed legislation include gradually increasing the age for RMDs from 72 to 75, allowing extra ‘catch-up’ contributions to workplace retirement plans, and permitting companies to ma

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Financial Planner Retirement Planning Retirement Insurance 234

The Big Picture

OCTOBER 17, 2022

US equity markets are off about 25% YTD; Tech-heavy Nasdaq is off 32%; But the poster child for the past few years has been Tesla (TSLA), which is down 38.5% YTD and is 46.9% off of its 2021 highs. From a fundamental perspective, Tesla is doing quite well: In the third quarter, Tesla sold a record 343,000 vehicles. They also have an advantage over traditional automakers: An ability to quickly reprogram the firmware of chips.

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Valuation Numbers Sales Marketing 317

Calculated Risk

OCTOBER 20, 2022

Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report released today from Chief Economist Danielle Hale: Weekly Housing Trends View — Data Week Ending Oct 15, 2022. Note: They have data on list prices, new listings and more, but this focus is on inventory. • Active inventory continued to grow, increasing 34% above one year ago.

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Sales Numbers Marketing Marketing 145

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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

Abnormal Returns

OCTOBER 20, 2022

Business Why Mark Cuban teamed up with Alex Oshmyansky to try to disrupt the pharmaceutical industry. (dmagazine.com) Apartment property management companies are increasingly using YieldStar software to set rents. (propublica.org) How TikTok came to rule the Internet. (wapo.st) How the TMZ model works. (trungphan.substack.com) Society Like it or not, West Virginia's future is in being able to move beyond coal.

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Pharmaceutical Food Education Management 244

A Wealth of Common Sense

OCTOBER 18, 2022

Bear markets are never any fun to live through but every stock market correction in history has been an opportunity if you’re able to zoom out a little bit. But how you view the short-term risks involved in big market declines should be colored by where you reside in your investor lifecycle. With that in mind, I wrote a new piece at Fortune that looks at the present opportunity set through the lens of each generatio.

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Marketing Marketing 145

The Big Picture

OCTOBER 21, 2022

Why are markets rallying and/or falling every other day? They make gains only to give them back, or they sell off hard only to subsequently regain the losses. I suspect it is because the dispersion of likely future outcomes is so unusually wide. Meaning, what investors imagine as the most likely outcomes are all over the map. Perhaps a weather analogy may help explain : Since its October, let’s imagine a typical weather report: 80% chance of sunshine, with a slight chance of showers overni

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Budgeting Government Marketing Marketing 306

Calculated Risk

OCTOBER 17, 2022

Active inventory increased again, hitting a new peak for the year. Here are the same week inventory changes for the last four years ( usually inventory is declining at this time of year ): 2022: +5.0K 2021: -2.4K 2020: -0.9K 2019: -10.9K Inventory bottomed seasonally at the beginning of March 2022 and is now up 135% since then. Altos reports inventory is up 33.7% year-over-year.

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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

Abnormal Returns

OCTOBER 16, 2022

60/40 portfolios The 60/40 portfolio is having its worse returns in a century. (marketwatch.com) Why investors should pay more attention the 40 in a 60/40 portfolio. (rogersplanning.blogspot.com) Strategy How market bottoms are made. (ritholtz.com) Why you shouldn't make big changes to your portfolio based on economics. (humbledollar.com) Will they, won't they, Fed predictions don't help investors one bit.

Financial Advising 242

Financial Advising Portfolio Valuation Economy 242

A Wealth of Common Sense

OCTOBER 16, 2022

There’s an old saying that they don’t ring a bell for you at the top. I know this to be true because investors spent more than 10 years during the bull market of the 2010s calling everything they saw a top. The regime changes are rarely obvious until after the fact. The same is true when trying to call a bottom during a bear market. They don’t announce these things over a PA for everyone to hear.

Marketing 145

Marketing Marketing 145

The Big Picture

OCTOBER 15, 2022

This week, we speak with Thomas Rampulla, managing director of Vanguard’s Financial Advisor Services. The division provides investments, services, education and research to more than 1,000 financial advisory firms representing more than $3 trillion in assets. Rampulla has held a variety of management positions at Vanguard since he joined in 1988.

Financial Advisor 305

Financial Advisor Education Retail Management 305

Calculated Risk

OCTOBER 18, 2022

From the Fed: Industrial Production and Capacity Utilization Industrial production increased 0.4 percent in September and 2.9 percent at an annual rate in the third quarter. In September, manufacturing output rose 0.4 percent after advancing a similar amount in the previous month. The index for mining moved up 0.6 percent, and the index for utilities fell 0.3 percent.

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Manufacturing 145

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

Abnormal Returns

OCTOBER 16, 2022

Top clicks this week How millionaires invest. (alphaarchitect.com) The all-weather portfolio has not fared well in 2022. (blog.validea.com) Jason Zweig, "Try to watch a tree growing, and you see nothing; yet it is growing all the same. It can send out new branches and green foliage for several human lifetimes. Prune it back properly, and you make it stronger.

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Retail Economy Portfolio Investing 163

A Wealth of Common Sense

OCTOBER 20, 2022

In the spring of 2020 I wrote a piece about how the Fed’s actions during financial crises could make stock market returns lower in the future. This was the gist of it: If the stock market during the worst economic contraction in 90 years can be smoothed out by government spending and Fed actions, does this change the risk-return framework in the stock market going forward?

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Government Economics Marketing Marketing 139

The Big Picture

OCTOBER 15, 2022

The weekend is here! Pour yourself a mug of Bean Box coffee, grab a seat by the lake, and get ready for our longer-form weekend reads: • The Rise and Fall of Bitcoin Culture: Crypto’s first token created a culture and then a monster. ( CoinDesk ). • The computer errors from outer space : The Earth is subjected to a hail of subatomic particles from the Sun and beyond our solar system which could be the cause of glitches that afflict our phones and computers.

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Medical Financial Advisor Education Assets 297

Calculated Risk

OCTOBER 19, 2022

From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 14, 2022. The Refinance Index decreased 7 percent from the previous week and was 86 percent lower than the same week one year ago.

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Sales Marketing Marketing 144

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

Abnormal Returns

OCTOBER 19, 2022

Investing A bear market provides different opportunities for different generations. (awealthofcommonsense.com) Why now is a great time to get started investing. (dariusforoux.com) College More states are requiring high school seniors to complete the FASFA application. (nytimes.com) Student loan debt forgiveness is now open to applications. (npr.org) Pets Don't underestimate the costs of taking care of a dog.

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Financial Advice Financial Planning Planning Investing 148

Wealth Management

OCTOBER 18, 2022

Once a niche play, DSTs have drawn the interest of institutional-grade sponsors to offer as an option to retail investors managing their real estate plays.

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Retail Investing Investments Management 131

The Big Picture

OCTOBER 21, 2022

Earlier this week I asked What’s Ailing Tesla’s Stock? The usual answers — Elon Musk’s distraction(s), and the company’s high valuation – are certainly fair reasons, but I suspect the biggest challenge is competition from legacy car makers. The latest comes from Mercedes-Benz: The EQE. Aimed squarely at Tesla’s best-selling Model Y, the EQE SUV boasts 367 miles of battery range and starts at ~$68,000.

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Valuation Manufacturing 277