The Reformed Broker
JANUARY 21, 2023
Hung with my friends Haley Sacks (Mrs. Dow Jones), Pat McAuliffe (Barstool Sports) and Gabe Walker (PRE.VEYOR) at the Knicks game this week. That’s after doing Closing Bell from the NYSE and then a quick slice at Joe’s Pizza (“Famous Since 1975). A very New York night, really reminded me of what I love so much about this town, despite its flaws and annoyances.
The Big Picture
JANUARY 23, 2023
I wanted to drop a quick note about the endless spate of layoff announcements — and why you should (mostly) ignore them. Let’s start with some numbers: Microsoft 22,000 (10%) Amazon 18,000 (1%) Google 12,000 (6.4%) Salesforce 7,000 (10%) Tesla 10,000 (10%) Twitter 3,700 (50%) Apple 0 (0%) Keep in mind a few things as you con
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A VC: Musings of a VC in NYC
JANUARY 23, 2023
I wrote last week that I have started coding again. And I have been amazed at how much easier it is now that I can code and deploy in the cloud without having to spin up anything myself. But the other massive improvement in programming is the “AI assist.” I am working in a Javascript library called jQuery and I don’t really understand its commands and syntax very well.
A Wealth of Common Sense
JANUARY 26, 2023
A reader asks: I’ve heard you say quite a few times that “trees don’t grow to the sky”, and you’re usually talking a particular company or Bitcoin or maybe ARK, etc. But could the same be true for the stock market in general, i.e., does it hit a point where it simply can’t grow anymore. After all, money and dollar are scarce and limited. If everyone hypothetically invests, we can’t all become millionaires, r.
The Reformed Broker
JANUARY 25, 2023
I had a bit of a flashback last night to the year 2000, sitting in my office after hours watching JDS Uniphase collapse on the heels of its conference call after reporting “better than expected” earnings for the quarter. Throughout 2000, techs and telecoms were still making a ton of profit, but it was becoming apparent that they were still coasting on the spend from 1999.
The Big Picture
JANUARY 25, 2023
Fascinating discussion this morning from Robin Powell. He points to a research note from Kings College where the authors surveyed active managers about how they were responding to the shift in favor from active to passive fund management over the past decade or two. But they also asked questions about how these managers invested their own monies. Robin buries the lede in his discussion, but allow me to correct that oversight: “ Active managers invest their own capital passively.” Man
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A Wealth of Common Sense
JANUARY 22, 2023
This continues to be one of the more confusing economic environments in history. Every other day the narrative switches between an imminent recession and a soft landing. Neither outcome would surprise me at this point. Some economic indicators are screaming slowdown while others are giving an all-clear. This state of limbo is making it difficult to know what’s going to happen.
The Reformed Broker
JANUARY 27, 2023
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Nathan Vardi, and Downtown Josh Brown discuss Nathan’s book (For Blood and Money), the biotech landscape, hedge fund returns, the GOAT of investing, venture capital, why the market is rallying, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
The Big Picture
JANUARY 26, 2023
I am genuinely excited about a new presentation I have been working on since the holidays: How to Avoid Financial Disasters. My career in finance has coincided with an amazing string of disasters, ranging from the analyst scandal, IPO spinning, and accounting restatements, to say nothing of Enron, Bernie Madoff, and FTX. The TL:DR version: there are three big problems that HNW and UHNW investors that lead to a devastating loss of capital: 1.
Integrity Financial Planning
JANUARY 27, 2023
Retirement is a time for rest, relaxation, and a chance to sit back and appreciate all that we have gained. No longer do we have to rush around trying to meet deadlines or fulfill the demands of a boss. Instead, we can take the time to slow down and truly enjoy the moments we have planned. Gone are the days of frantically rushing from one task to the next, always chasing after success and the next big thing.
A Wealth of Common Sense
JANUARY 24, 2023
One of the strange things about growing older is you begin to realize how much your place in life determines your taste in entertainment. There are movies and TV shows that stand the test of time but there are also many that hold a special place in your heart simply because you watched them at a certain age. There are movies that I loved as a little kid that I probably wouldn’t relate to as much today.
The Reformed Broker
JANUARY 26, 2023
Final Trades: Qualcomm, Chevron, Carlyle Group & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
The Big Picture
JANUARY 25, 2023
My mid-week morning train WFH reads: • NYSE Investigates Technical Issue That Caused Wild Market Open : At least 40 S&P 500 stocks were hit with trading halts. NYSE says it’s investigating issues with the opening auction. ( Bloomberg ) • For Tech Companies, Years of Easy Money Yield to Hard Times : Rock-bottom rates were the secret engine fueling $1 billion start-ups and virtual attempts to conquer the physical world.
Million Dollar Round Table (MDRT)
JANUARY 24, 2023
By Thomas F. Levasseur, CLU, MS Ed. I’ve been an MDRT member for more than 30 years. During that time, I’ve served on numerous committees and task forces where I got to rub elbows with great leaders. From those experiences, I’ve found that an important part of life is seeking to serve, not to shine. The desire to shine can cause you to get in your own way.
Integrity Financial Planning
JANUARY 23, 2023
For most, Social Security provides a solid foundation for retirement income. In fact, as of September 2022, over 70 million Americans were collecting benefits. [1] However, not everyone knows exactly how or when to start tapping into this resource. As you grow older and retirement looms on the horizon, the decisions you make start to have a more crucial impact on the amount of money you receive, so it’s important that you know what to expect.
The Reformed Broker
JANUARY 24, 2023
Final Trades: Live Nation, Chevron, Citigroup and more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.
The Big Picture
JANUARY 26, 2023
My morning train WFH reads: • ChatGPT is everything you wanted Bitcoin to be : ChatGPT was introduced a few months ago and has already spread like wildfire in a way that Bitcoin never has, despite the latter’s explosive rise into the public consciousness as a way to gamble and speculate. OpenAI’s ChatGPT has instantly found use cases, most notably at the high school and college level as children begin to experiment with it as a way to help them complete (or cheat on) their assignments. ( Reforme
Million Dollar Round Table (MDRT)
JANUARY 22, 2023
By Lisa Apolinski, CMC How important is your website to prospects? Quite a bit. According to HubSpot, 65% of consumers state that the experience they encounter on a website is a “very important” factor in recommending a brand. Also, 75% expect new technologies to create memorable and better experiences. If you don’t want your website to turn away prospects before you even get to talk with them, how can you create memorable digital consumer experiences?
A Wealth of Common Sense
JANUARY 27, 2023
Six questions I’m thinking about right now: Is inflation falling because things are normalizing or because we’re going into a recession? This is going to be one of the hardest economic questions to answer in the coming months as inflation falls. One thing is for sure — we are NOT in a recession right now. The 4th quarter of last year saw real GDP grow at an annualized pace of 2.9%.
The Reformed Broker
JANUARY 25, 2023
IBM beats on top line, profits in margin from CNBC. The post Clips From Today’s Closing Bell appeared first on The Reformed Broker.
The Big Picture
JANUARY 27, 2023
My end-of-week morning train WFH reads: • Elon Musk’s Epic Quest for LOLs Is Only Hurting Tesla : Amid falling demand and sudden price cuts, the CEO seems determined to take a blowtorch to his company’s brand. ( Businessweek ) see also Consumer Reports calls Ford’s automated driving tech much better than Tesla’s Tesla’s Autopilot was once groundbreaking technology.
Financial Times M&A
JANUARY 22, 2023
Pressure mounts on Marc Benioff’s software group after Starboard Value fund calls to boost profit margins
A Wealth of Common Sense
JANUARY 23, 2023
Today’s Talk Your Book is brought to you by KraneShares: Today we are joined by Luke Oliver, Managing Director, Head of Climate Investments, and Head of Strategy at Kraneshares to discuss Kraneshares suite of climate ETFs. On today’s show, we discuss: How emissions are financialized Voluntary vs compliant carbon markets How emissions are related to political risk How the ETF is constructed What drives carbon price H.
XY Planning Network
JANUARY 23, 2023
3 MIN READ Are taxes too taxing? No one likes taxes. I get it. Even though I do taxes for a living, I’ll be the first to admit it’s not always easy or simple. It can be stressful, right? Taxes are a hassle at least and a complete nightmare at worst. None of that sounds like fun. As a result, many people might want to put it off, procrastinate, avoid, ignore, and do all the things that don’t involve dealing with their taxes.
The Big Picture
JANUARY 24, 2023
The transcript from this week’s, MiB: Steven Klinsky, New Mountain Capital , is below. You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. 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.
Financial Times: Moral Money
JANUARY 22, 2023
Ron O’Hanley calls incorporating climate into corporate governance ‘a matter of value, not values’
A Wealth of Common Sense
JANUARY 25, 2023
Today’s Animal Spirits is brought to you by YCharts: Enter your information here to get 20% off YCharts (new clients only) On today’s show, we discuss: The narrative vortex December 2022 retail sales Auto market weekly summary: January 13 Tesla’s price cuts are roiling the car market Over 5M new US startups show Covid-era boom has legs Google laid off high performers and earners while largely sparing ̵.
Financial Times M&A
JANUARY 24, 2023
Media tycoon in talks to sell stake in digital property group instead
The Big Picture
JANUARY 21, 2023
The weekend is here! Pour yourself a mug of Colombia Tolima Los Brasiles Peaberry Organic coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The Art and Science of Spending Money : Money “the greatest show on earth” because of its ability to reveal things about people’s character and values. How people invest their money tends to be hidden from view.
FMG
JANUARY 23, 2023
The challenge of writing compelling emails often comes down to a balance of two things; quality and quantity. As an advisor, you need to be engaging your email list with consistent, personalized and relevant content. Creating emails that meet these criteria, though, can take a lot of time. This is where email automation steps in, providing financial advisors with a tool to schedule and create emails quickly.
Financial Times: Moral Money
JANUARY 27, 2023
Plus, investors push for battery metals transparency
Financial Times M&A
JANUARY 26, 2023
Wholesale and retail conglomerate says it may look to buy more shares in the UK supermarket chain
The Big Picture
JANUARY 27, 2023
Most podcasts have a Q&A between a guest and the host. Whenever I get together with Pete, it’s just two idiot friends BS-ing about whatever. I hope you enjoy this hour-long discussion about everything and nothing. (We start at the 15:15 mark). Pete always sneaks in some early chitchat that is candid and I don’t expect to make it to the show; after 4 years, I should know better.
Integrity Financial Planning
JANUARY 25, 2023
What does it mean to invest like a genius? We talk about the common characteristics among intelligent people and how you can apply those characteristics to your investing strategies. Then, Brian answers two questions from the mailbag about money in retirement. Here’s what we discuss on today’s show: Highly intelligent people are adaptable. (0:42) Geniuses understand how much they don’t know. (2:52) Talking about your mistakes helps. (6:52) Mailbag: Ready to sell my business to retire.
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