The Big Picture
NOVEMBER 17, 2022
. There is a new 60/40 in town, and it is the contribution to inflation from consumer demand for goods and the pandemic-broken supply chain. That is according to a study by Julian di Giovanni, who publishes at the NY Fed’s blog Liberty Street Economics. Over the summer, he posed a fascinating question: How Much Did Supply Constraints Boost U.S. Inflation?
A Wealth of Common Sense
NOVEMBER 15, 2022
Boring is better this year in the markets. The more exciting your portfolio, the worse your performance is in this bear market. Those old stodgy blue chip stocks in the Dow that pay dividends and have stable cash flows are crushing the innovation-led stocks that have more potential than profits in 2022. This is in stark contrast to the FOMO days of 2020 and 2021 when it felt like the only place to put your money was the.
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The Reformed Broker
NOVEMBER 16, 2022
Glamour is a supernatural form of mental compulsion or influence that is specific to vampires. Glamouring is similar to hypnosis, and while all vampires have this power, it needs to be taught as it does not appear to come naturally… The process of glamouring begins with eye contact between a vampire and a respondent. Once eye contact is made, the respondent is held in a trance, making them susceptible to the pow.
Mish Talk
NOVEMBER 17, 2022
Strong Recession Signal Since 1990, the spread between 30-month T-Bills and the 10-year Treasury Note was only more inverted ahead of the 2001 recession. Since 1990, the spread between 30-month T-Bills and the 30-year long bond has only been more inverted a couple of times. This is a very strong recession signal. Reducing Inflation Without a Recession Might Not Be Feasible I's unusual for the Fed to be this candid but Kansas City Fed President Esther George says Reducing Inflation Without a Rece
The Big Picture
NOVEMBER 14, 2022
I wonder how far my view of the universe is from (objective) reality. My pal Dave Nadig suggests that we are all much further away from any sort of recognition of the true universe than we suspect. We chatted about this last week, and the more I thought about it, the further away from reality it turns out that we actually are. Best I can figure, we may all be at least six degrees 1 away from truly comprehending, well, anything: 1.
A Wealth of Common Sense
NOVEMBER 17, 2022
A reader asks: I’ve been minimally invested in bonds as a long-term investor but if I can get 5% or more interest, I’d love to allocate funds and lock that in for as long as possible. I’m looking at corporate investment grade new issues and they largely seem to be callable in a year. While I would be happy if rates came down and I got my principal back in a year, I’d also be happy holding them if they are not call.
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Mish Talk
NOVEMBER 13, 2022
Integration Issue or Fraud Issue? An ATX notice says " Due to the current market situation, the integration is taking longer than usual." Is this an integration issue or something else? Please consider the AAX announcement Forward Through Adversity. AAX scheduled a system upgrade that will help protect our users from the multiple malicious attacks that we’ve observed during this vulnerable time.
The Big Picture
NOVEMBER 16, 2022
So, the whole house is down with Covid. I had some minor symptoms I assumed were vaccine side effects, but I kept testing negative. By the time I tested positive it was way too late for Paxlovid. I isolated to keep everyone else safe. Too late! Mrs. Big Picture went from no symptoms to full-on flu 2 days after me. Paxlovid helped her dramatically — she went from worse than me to much better in 24 hours.
A Wealth of Common Sense
NOVEMBER 18, 2022
Scott Galloway once said, “It’s never been easier to become a billionaire, or harder to become a millionaire.” I’m not sure I agree but it does seem like more people want to become a billionaire these days. I honestly don’t think it’s worth it. More money in your life is obviously better than less money but only up to a certain point.
A VC: Musings of a VC in NYC
NOVEMBER 15, 2022
This post was co-written by Katie Haun and Fred Wilson. The events surrounding FTX have shaken the confidence of many. How did one of the largest crypto exchanges collapse so quickly? Why do meltdowns like this seem to keep happening? At times like this, it helps to have a long-term view of web3 as a sector, not just a forward-looking long-term view, but also some perspective on where we have come from.
Investment Writing
NOVEMBER 15, 2022
Here are some of the books that I enjoyed reading during 2022. Writing. Actually, the Comma Goes Here by Lucy Cripps. The Plain English Approach to Business Writing by Edward P. Bailey—This book offers sound suggestions for good writing. By the way, if you want to improve your financial writing, check out my book, Financial Blogging: How to Write Powerful Posts That Attract Clients.
This is going to be BIG.
NOVEMBER 14, 2022
Years ago, I got invited by Steven Messer to join him and his co-founder (and brother-in-law) Tad Martin, two very successful NYC founders, out on a bike ride up the West Side Highway and up 9W over the Palisades. It’s a pretty standard route for hundreds of experienced road cyclists every weekend morning. This is before I ever did a triathlon and before I ever even had a proper road bike.
A Wealth of Common Sense
NOVEMBER 12, 2022
“Everything in life is founded on confidence.” – Ivar Kreuger On October 28, 1929, Swedish businessman Ivar Kreuger appeared on the cover of Time Magazine. He was the most talked about person in the United States at the time because he was rich, powerful and mysterious. Kreuger controlled three-quarters of the production and sales of matches, owning more than 200 match factories in 35 different countries all ar.
Integrity Financial Planning
NOVEMBER 18, 2022
There has historically been a pay gap between men and women for comparable jobs which favors men. This phenomenon generally affects retirement funds as well – this is called the gender retirement gap. [1] On average, women earn 17% less than men, taking home $89 compared to the man’s $100. [2] The gender pay gap has lasted throughout history, affecting global economic potential, and has cost the US an annual $1.6 trillion [3] in potential economic activity.
The Big Picture
NOVEMBER 17, 2022
My morning train WFH reads: • Sam Bankman-Fried, the disgraced boy king of crypto, explained : He was a billionaire who had quickly amassed political and philanthropic influence. What happened? ( Vox ). • Electric Vehicles Start to Enter the Car-Buying Mainstream : While sales are still skewed toward affluent buyers, more people are choosing electric vehicles to save money. ( New York Times ) see also Toyota to Unveil New Prius as Hybrids Lose Luster to Battery EVs : Sales of the pioneering hybr
Mish Talk
NOVEMBER 16, 2022
Data from BLS, calculation and chart by Mish. Definitions The Civilian Noninstitutional Population is defined as persons 16 years of age and older residing in the 50 states and the District of Columbia, who are not inmates of institutions (e.g., penal and mental facilities, homes for the aged), and who are not on active duty in the Armed Forces. The participation rate is the percentage of the population that is either working or actively looking for work.
XY Planning Network
NOVEMBER 14, 2022
3 MIN READ. “Knowledge is Power, Power provides Information; Information leads to Education, Education breeds Wisdom; Wisdom is Liberation. People are not liberated because of lack of knowledge.”? Israelmore Ayivor. I love learning and growing my brain, don’t you? I also love when I can immediately apply what I’ve learned, especially when I get the opportunity to do so in a professional setting.
Integrity Financial Planning
NOVEMBER 15, 2022
You’ve probably had a daily routine for most of your life – from tying your tie and greeting your coworkers to loosening that tie when you get home. When thinking about retirement, not only does your daily routine change but your financial routine does too. In your working years, you made sure to have a savings and wealth accumulation plan. Your retirement goals were focused on building wealth, but now, your goal is to spend it efficiently.
The Big Picture
NOVEMBER 13, 2022
Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • ‘What if Yale finds out?’ : Suicidal students are pressured to withdraw from Yale, then have to apply to get back into the university ( Washington Post ). • The Incredibly Stupid Catastrophe Caused by Sam Bankman-Fried and FTX : A crypto implosion for the history books. ( Slate ) see also Bankman-Fried’s Cabal of Roommates in the Bahamas Ran His Crypto Empire – and Dated.
Million Dollar Round Table (MDRT)
NOVEMBER 17, 2022
By Corry Collins, CLU, CH.F.C. In my long career, I’ve found this important lesson to be true: If the rate of change outside your business is greater than inside your business, you are out of business. One area where we see a lot of change is technology, and using technology is no longer a choice. They say 80% of the internet is now video. We see robo-advisors, we find advice-free online sales of mutual funds and what was known as identity theft is now known as synthetic cyber identity creation.
Financial Times M&A
NOVEMBER 16, 2022
Settlement of dispute related to ‘tracking stock’ will be one of the largest at Delaware Court of Chancery
A Wealth of Common Sense
NOVEMBER 14, 2022
Today’s Talk Your Book is brought to you by Innovator Capital Management. We had Co-Founder and CEO Bruce Bond back on the show to give us an update on buffered ETFs. On today’s show we discuss: How advisors are using the buffer ETFs in this market How the known outcome buffers work How volatility has affected the upside caps Fixed income v buffered ETFs Innovators new managed product Floors vs buffers How mar.
Mish Talk
NOVEMBER 15, 2022
Producer Price Index from BLS, chart by Mish. Please consider the BLS Producer Price Index report for October 2022. PPI Key Month-Over-Month Details The Producer Price Index for final demand increased 0.2 percent in October, seasonally adjusted. Final demand prices rose 0.2 percent in September and were unchanged in August. In October, the rise in the index for final demand can be attributed to a 0.6-percent advance in prices for final demand goods.
Million Dollar Round Table (MDRT)
NOVEMBER 15, 2022
By Bryce Sanders Connecting with clients is less about asking them to buy something and more about them wanting to buy something. This means you’ll want to be top of mind when their bonus comes in or their accountant suggests doing something with their finances. In other words, use a light touch, and the holidays provide an opportunity to do so. Send holiday cards.
Financial Times M&A
NOVEMBER 16, 2022
Months of wrangling over chipmaker sees deal with China-owned company thwarted on national security grounds
Financial Times: Moral Money
NOVEMBER 14, 2022
Geoengineering is risky and undesirable but thinking of pragmatic insurance policies is important
Wealthfront
NOVEMBER 17, 2022
When you’re shopping around to find a good home for your cash, you might see some very high APYs advertised. At first, this probably seems like a good thing. However, if you dig into the fine print for some of these accounts, you’ll notice that the advertised rate can actually have all kinds of strings […]. The post <strong> </strong>How Some Banks Avoid Paying You a High APY appeared first on Wealthfront Blog.
Million Dollar Round Table (MDRT)
NOVEMBER 13, 2022
By Cynthia Kane If I say someone will “never” listen to you, you may bristle at that as you recall all the clients who do listen to you. In fact, there may be a thing or two you’d like to set straight with me. One of these is that it’s impossible that clients never listen to you, or you wouldn’t be in business. What you’re having is a normal reaction to the word “never,” which is what’s known as an absolute word, and it’s a conversation stopper.
Financial Times M&A
NOVEMBER 14, 2022
Investment adds another technology group to industrial conglomerate’s sprawling portfolio
Diamond Consultants
NOVEMBER 15, 2022
With The Clash ringing in their heads, advisors often get stuck when trying to answer the proverbial question: “Should I stay or should I go?”. In their 1982 hit, “Should I Stay or Should I Go,” English punk rock band The Clash asks a compelling question of financial advisors. (OK, so maybe they weren’t specifically speaking to wealth managers…) Regardless, it is a question on the minds of most, if not all, advisors in this world of heightened optionality and competition for top talent.
Don Connelly & Associates
NOVEMBER 14, 2022
Any successful person would agree that making mistakes—and learning from them—is as vital to one’s growth and development as any training or life experience. That’s good because we’re human, and we all make mistakes. Even the brightest and most conscientious financial advisors make mistakes periodically. While mistakes that impact clients can be serious, they don’t have to be the end of the world or a career.
The Big Picture
NOVEMBER 14, 2022
My back-to-work morning train WFH reads: • Big Investors Are Giving Up on Crypto Markets Going Mainstream : Bitcoin as a portfolio diversifier hasn’t worked for investors Crypto won’t ‘find a home in institutional asset allocation’. ( Bloomberg ). • Good News is Good News : Good News ( Irrelevant Investor ) but see also Move Over, Inflation: Here Comes the Earnings Crunch : Even as markets delight in the prospect of smaller rate increases from the Federal Reserve, earnings are becoming more of
Financial Times M&A
NOVEMBER 18, 2022
Price rise supercharged by widespread share redemptions before Spac merger
The Reformed Broker
NOVEMBER 16, 2022
Stocks aren’t fully pricing in a recession, 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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