Mish Talk

DECEMBER 16, 2022

Early Benchmark Revisions of State Payroll Employment Please consider Early Benchmarks for All 50 States and the District of Columbia for the second quarter of 2022. Estimates by the Federal Reserve Bank of Philadelphia indicate that the employment changes from March through June 2022 were significantly different in 33 states and the District of Columbia compared with current state estimates from the Bureau of Labor Statistics’ (BLS) Current Employment Statistics (CES).

Banks 144

Banks Accounting 144

A Wealth of Common Sense

DECEMBER 13, 2022

Unless we get a Christmas miracle, the U.S. stock market is going to finish the year with double-digit losses. If this downturn holds, it would be the 12th time in the past 95 years this has happened. So it’s relatively rare but not completely out of the range of possibilities. There’s nothing special about calendar year returns. It’s not like market cycles die on December 31st and are born again each ye.

Stock Market 138

Stock Market Stock Market Returns 138

The Big Picture

DECEMBER 16, 2022

There seems to be a lot of confusion going on today with respect to inflation, interest rates, and ongoing Federal Reserve policy. A framework for exploring this has many parts: What the Fed (obviously) knows, how it express those views through police like FOMC rates, ZIRP, QE, QT, etc. There remains the question of what the Fed is actually wrong about. 1 .

Stock Market 121

Stock Market Stock Market Banks Assets 121

The Reformed Broker

DECEMBER 10, 2022

This past week we stayed at the Post Oak in Houston, one of the top ten hotels in America, supposedly 6 or 7 stars – and let me tell you, that place was opulent. More marble in one building than anywhere I’ve ever been, save for perhaps the Vatican. Billionaire hospitality guru Tilman Fertitta, the hotel’s owner, furnished this place as though he would actually live there – and he does.

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Mish Talk

DECEMBER 11, 2022

"CZ" Image likeness courtesy of Coin Telegraph article below. Binance's Proof of Reserves Statement When we say Proof of Reserves, we are specifically referring to those assets that we hold in custody for users. This means that we are showing evidence and proof that Binance has funds that cover all of our users assets 1:1, as well as some reserves. When a user deposits one Bitcoin, Binance's reserves increase by at least one Bitcoin to ensure client funds are fully backed.

Liabilities 145

Liabilities Assets Financing Finance 145

A Wealth of Common Sense

DECEMBER 16, 2022

I loved the first season of The White Lotus. It was the perfect pandemic show at the perfect time, allowing us to escape to an exotic locale and enjoy the quirks of some wonderfully written characters. Season two just wrapped on HBO and I enjoyed it even more than the first one. The murder mystery aspect of the show was tremendous but my finance brain couldn’t help but notice a number of money and behavioral psycho.

Financing 108

Financing Finance 108

The Reformed Broker

DECEMBER 15, 2022

A few weeks back I sat down with Bank of America’s quantitative and equity strategist Savita Subramanian and fellow financial advisor Georgia Lee Hussey to talk about how investors can protect themselves and find opportunity in 2023. There’s definitely a cloud hanging over the year to come – we’ve never seen a steeper or faster rate hiking cycle in the last half century and a lot of trends that mad.

Banks 98

Banks Investors 98

Walkner Condon Financial Advisors

DECEMBER 13, 2022

Going back to work after nearly 11 years was an exciting and daunting prospect. For me, it was also a career change. I was diving into a new job in a new industry armed with a freshly completed Master’s degree and an infectious enthusiasm for my newly chosen profession. My kids – ages 11, 8, and 8 (yes that’s right, twins) – went back to school this fall, and I went back to work. .

Returns 98

Returns Accounting Financing Finance 98

Covisum

DECEMBER 14, 2022

Between record-high inflation, recession fears, and the ongoing threat of Social Security benefit cuts, many Americans are worried about their nest eggs in the current economic environment.

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The Big Picture

DECEMBER 10, 2022

This week, we speak with Kathleen McCarthy , the global co-head of Blackstone Real Estate. The largest owner of commercial real estate globally, Blackstone Real Estate has a $565 billion portfolio and $319 billion in investor capital under management. McCarthy previously served as Blackstone’s global chief operating officer; before joining Blackstone in 2010, she worked at Goldman Sachs.

Debt 118

Debt Capital Portfolios Funds 118

Financial Symmetry

DECEMBER 11, 2022

Behavioral finance biases can make or break your journey to building wealth. The truth at the heart of behavioral finance is the fact that we are not rational decision-makers when it comes to our money. The following five psychological and … Continued. The post Types of Behavioral Finance and How to Overcome Them appeared first on Financial Symmetry, Inc.

Financing 98

Financing Finance Investing 98

Mish Talk

DECEMBER 14, 2022

Month-over-month CPI food prices from the BLS, chart by Mish. Month-Over-Month Details For November Meat, Fish, Poultry, Eggs: -0.2%, up 9 of 11 months in 2022 Cereals and Bakery:+1.1%, up 11 of 11 months in 2022 Dairy: +0.7 percent: up 11 of 11 months in 2022 Fruits and Vegetables: up 1.4%, up 9 of 11 months in 2022 Nonalcoholic Beverages: -0.3%, up 10 of 11 months in 2022 Other Food at Home: -0.1%, up 10 of 11 months in 2022 Three Major Food Categories.

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Integrity Financial Planning

DECEMBER 16, 2022

Close your eyes and think back to your childhood. What’s the first thing you remember? Your first thoughts may be about your childhood room or your old posters and magazines. Maybe it was your living room couch that had a distinctly comfortable spring to it, even in its final years before it was tossed. It wouldn’t be surprising, however, if your favorite childhood memories were of your kitchen and the people who used it.

Financing 97

Financing Finance 97

The Big Picture

DECEMBER 12, 2022

In this week’s podcast, I chatted with Kathleen McCarthy , Global co-head of Blackstone Real Estate. 1 We recorded this on November 30 th , before all the news broke on the BREIT liquidity gates. But I am very familiar with the product. RWM is a discretionary RIA, which primarily invests in stocks and bonds via ETFs, Mutual Funds, and Direct Indexing.

Investors 116

Investors Mutual Funds Hedge Funds Venture Capital 116

A Wealth of Common Sense

DECEMBER 11, 2022

Some random thoughts about markets and investing I’ve been thinking about lately: The fear of missing out and the joy of missing out are two sides of the same coin. In bull markets, you feel like an idiot for not going all-in on the highest of high fliers. In bear markets, that FOMO quickly turns into JOMO (the joy of missing out). If nothing else, both up and down markets provide reminders that there is rarely an e.

Investing 92

Investing Financing Finance 92

Million Dollar Round Table (MDRT)

DECEMBER 13, 2022

By Jaslyn Ng One of the most frequently asked questions I get is about how I manage my time due to my three roles as an agency leader, Court of the Table member and a mother. For me, it’s about three time management principles I strictly adhere to. These are. 1. Efficiency vs. effectiveness. Efficiency and effectiveness are not the same thing. Efficiency is the ability to accomplish something with the least amount of wasted time, money and effort for competency in performance.

Prospects 83

Prospects Investing 83

Integrity Financial Planning

DECEMBER 13, 2022

The 2022 economy has broken multiple records, first, with the highest inflation rate in 40 years, and now, the highest federal reserve interest rates since 2008. [1] In efforts to curb raging inflation, the US Federal Reserve has raised interest rates six times in 2022, reaching a target of 3.75% in November. [2] This rise in the cost of borrowing not only affects inflation but trickles into the decisions you make before and in retirement.

Pension Funds 97

Pension Funds Accounting Debt Banks 97

The Big Picture

DECEMBER 15, 2022

My morning train WFH reads: • Why You Should Enable Apple’s New Security Feature in iOS 16.2 Right Now : Apple just rolled out iOS 16.2, a software update that includes a key new feature called Advanced Data Protection for iCloud. That means you can finally enable end-to-end encryption for your iCloud backups so no one but you—not even Apple—can access your iCloud data. ( New York Times ). • The FUD Behind the Crypto Collapse : Sam Bankman-Fried and Binance’s Changpeng Zhao were ostensible partn

Private Equity Firms 107

Private Equity Firms Private Equity Firms Debt Funds 107

A Wealth of Common Sense

DECEMBER 15, 2022

A reader asks: Collective wisdom is that over the long-term markets go up. While this may have been the case in the past, it’s the baby boomers who control the vast majority of the equity market on a generational basis, and they are in the process of selling out in mass due to financing retirement over the next decade. Is this a real cause for concern that this will trigger endless selling pressure and keep returns down.

Stock Market 85

Stock Market Stock Market Financing Finance 85

XY Planning Network

DECEMBER 12, 2022

8 MIN READ. No matter how long I work with fee-for-service planners, I find they dread fee increases. Especially now with inflation and the market, it can feel daunting. So let me give you friendly permission: if you are not using a percentage of assets fee structure, you need to reassess your fees every year or so. As your business grows, your firm is likely to be your biggest personal asset - or one of your most valuable assets.

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Fee Structure Assets 83

Mish Talk

DECEMBER 14, 2022

Dot Plot Interest Rate projections from FOMC, highlights and annotations by Mish. Please consider the FOMC Press Release from December 14. Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures.

Debt 82

Debt Accounting Returns Funds 82

Financial Times: Moral Money

DECEMBER 14, 2022

Soaring executive pay is prompting resistance from those who believe business should play a role in shaping a fairer, more equitable society

Capital 86

Capital 86

A Wealth of Common Sense

DECEMBER 12, 2022

Today’s Talk Your Book is brought to you by Helios: See here to learn more about utilizing Helios’ insourced CIO and other tailored tools for advisors On today’s show, we are joined by Joe Mallen, CIO of Helios to discuss Helios’ offerings for advisors. On today’s show we discuss: What Helios does Typical Helios clientele The growth of model portfolios Insourced vs outsourced CIOs How advisors are.

Portfolios 64

Portfolios 64

The Big Picture

DECEMBER 13, 2022

My Two-for-Tuesday train reads: • The fall of FTX shocked everyone. Except this guy. The world of cryptocurrency is rich with eccentric characters and anonymous Twitter personalities. So perhaps it shouldn’t be a surprise that one of the early figures who called attention to the problems with Sam Bankman-Fried’s cryptocurrency exchange, FTX, is a 30-year-old Michigan psychiatrist who investigates financial crimes as a hobby. ( The Atlantic ). • You Bought a Hot Fund.

Funds 61

Funds Accounting Capital Portfolios 61

Mish Talk

DECEMBER 16, 2022

Chart courtesy of CoinMarketCap, annotations by Mish. A wave of selling is hitting Binance right now in the wake of crypto concerns in the fallout of FTX. To see it, let's take a look at the past week. Binance BNB Last Seven Days. Binance Says Accounting Firm Mazars Pauses Work for Crypto Clients The Wall Street Journal reports Binance Says Accounting Firm Mazars Pauses Work for Crypto Clients Cryptocurrency-trading giant Binance said the accounting firm it used to verify its reserves has paused

Liabilities 79

Liabilities Accounting Companies 79

Financial Times: Moral Money

DECEMBER 14, 2022

Second-largest asset manager dropped from state hearing a week after it quit financial alliance on climate change

Asset Management 89

Asset Management Assets 89

Financial Times M&A

DECEMBER 13, 2022

The Saudi bank backing Credit Suisse’s turnround strategy and Apollo’s pitch to wealthy equity investors

Banks 78

Banks Investors 78

The Big Picture

DECEMBER 14, 2022

My mid-week morning train reads: • What surprisingly low November inflation means for 2023 : There was barely any inflation in November, indicating that the economic environment might be more mild than previously thought, potentially giving the Federal Reserve the opportunity to ease up on interest rate hikes and perhaps even avoid a recession — if it wants to. ( Grid ). • The Fed is Dead : Its interest rate hikes are hurting consumers and workers while bypassing the main source of inflation ( R

Capital 57

Capital Portfolios Investors Companies 57

Mish Talk

DECEMBER 13, 2022

SBF Arrested Yesterday Indictment Unsealed Charges Against SBF Wire fraud Commodities and securities fraud Money laundering Campaign finance violations SEC Involved Formal Request for Extradition FTX is Unique No Record Keeping Whatsoever Please think about that for a second. Blockchain's big promise was record keeping. FTX kept no records, of anything.

Stock Exchanges 75

Stock Exchanges Financing Finance Assets 75

Financial Times: Moral Money

DECEMBER 13, 2022

Asset manager owned up to breach of Australian regulations days before pulling out of net zero alliance

Asset Management 91

Asset Management Assets 91

Financial Times M&A

DECEMBER 12, 2022

The £740mn deal will lead to transfer of 600 branches to Danish group Stark

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SuperAngel.Fund

DECEMBER 16, 2022

Founder Friday is a content series from SuperAngel.Fund that highlights companies across our portfolio and the inspiring founders behind them. In our 37th edition we are featuring Ammar Moiz , Founder & CEO of Mayple , an eCommerce enablement platform that helps brands sell cross-border to customers all around the world. Ammar’s experience with international trade spans generations.

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Conglomerates Investment Firms Capital Portfolios 52

ModernAdvisor

DECEMBER 16, 2022

November was another good month for equity markets, and a good one for fixed income markets as well. November 2022 Market Performance All index returns are total return (includes reinvestment of dividends) and are in Canadian Dollars unless noted. *Absolute change in yield, not the return from holding the security. November was another good month for equity markets, and […].

Returns 52

Returns Investing 52

Conneqtor

DECEMBER 16, 2022

Let me tell you a story on how I use/used Richard Branson’s advice on embracing entrepreneurship as a Financial Advisor. I started my entrepreneurial journey as a ‘virgin’, and like most virgins, I didn’t know what I was doing.

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