A Wealth of Common Sense
NOVEMBER 27, 2022
It feels like we can’t go a week without some crazy cheating scandal popping up. First, there were the professional fishermen who put lead weights and raw fish fillets into the fish they caught to literally tip the scales in their favor. Then there was the bizarre chess cheating affair where one of the top players in the world was accused of using a vibrating device placed in his rear end.
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?
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The Reformed Broker
NOVEMBER 8, 2022
A lot of reporters and public intellectuals were writing their obituaries for Twitter this weekend. First, we saw the revolt of the Blue Checkmarks. Then, the first inklings of an advertiser exodus. The timing of all this – on the eve of a midterm election that will determine whether or not Americans actually care about democracy – could not have been more ominous.
Financial Times M&A
NOVEMBER 7, 2022
Move comes months after Chelsea was sold to consortium led by American financier Todd Boehly for £2.
Mish Talk
NOVEMBER 22, 2022
Bitcoin daily chart courtesy of StockCharts.Com. I have been making notes, some of them incorrectly. Apologies offered. Generational Bottoms Bitcoin is Life Hoot of the Day (From May 2022). Hmm 6 months is up. On May 8, Bitcoin was $34,000. It's now under $16,000. That's OK because 6 months doesn't matter and $1BTC is still $1BTC. Bitcoin Log Chart.
Wealthfront
NOVEMBER 10, 2022
Today, we’re excited to announce we’ve doubled the FDIC insurance you get on your deposits in a Wealthfront Cash Account. Your Cash Account deposits are now insured for up to $2 million through our partner banks, which is 8x the amount available in a traditional bank account. For joint accounts, Cash Account deposits are now […]. The post The Wealthfront Cash Account Now Offers $2M in FDIC Insurance appeared first on Wealthfront Blog.
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The Big Picture
NOVEMBER 4, 2022
Since it is late on a Friday, I thought I might share some quick thoughts about the week. I have been wondering, more than usual, about the disconnect between what we see in falling prices and the Federal Reserve’s anti-inflation actions. It is difficult to reconcile Fed rhetoric with the actual price of Goods. One can reach only so many conclusions: Perhaps the Fed is right and everybody else is wrong.
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.
Financial Times M&A
NOVEMBER 7, 2022
Country lacks a global or even regional lender that could accompany its industry in an internationalisation push
Mish Talk
NOVEMBER 7, 2022
Twitter Axe Last Friday, Elon Musk cut about half of the company’s work force. That's approximately 3,700 jobs. Many employees did not know until they saw their corporate access blocked. I saw some Tweets in which managers did not even know which of their subordinates were axed. The managers sent emails to their subordinates asking if they still had access.
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.
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.
The Big Picture
NOVEMBER 7, 2022
My views on inflation continue to evolve: I was correct in identifying inflation during the mid-2000s; during the post-crash 2010s I remained appropriately skeptical about rising prices. The price dynamic during and after the pandemic appeared to be troublesome but my expectations were that inflation would be resolved relatively quickly as supply chains reopened and life returned to normal. “ Transitory ” turned out to be too optimistic, and I was wrong in my expectations for a faster decline in
The Reformed Broker
NOVEMBER 5, 2022
Just wanted to start by saying thanks to everyone who made a donation to our Long Island Cares food drive for Thanksgiving. The money really goes a long way, we’re going to be making a big difference in the lives of people who need help this holiday season. We shattered the goal dollar-wise and I’m hoping to see a few hundred donated meals this weekend at our drop.
Financial Times M&A
NOVEMBER 4, 2022
In first week as owner, the billionaire has axed management, begun mass job cuts and launched new products
Mish Talk
NOVEMBER 9, 2022
Image from Investing.com yellow highlights and comments are mine. Market Still Reeling From Collapse of FTX Yesterday I noted Crypto Crash Is Led by a Whopping 88 Percent Plunge in FTX Here is the chart I posted yesterday. Today's chart will follow. FTX chart courtesy of CoinDesk. Price points added by Mish. Valuation Plunge The 44 percent rally was due to the announcement of a deal with Binance.
Investment Writing
NOVEMBER 28, 2022
Can you spot what’s wrong in the image below? Please post your answer as a comment. I wince every time I hear someone use this expression. I post these challenges to raise awareness of the importance of proofreading. The post MISTAKE MONDAY for November 28: Can YOU spot what’s wrong? appeared first on Susan Weiner Investment Writing.
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.
The Big Picture
NOVEMBER 21, 2022
You may have missed this wonderful Josh Zumbrun column in the Wall Street Journal last week: “ Inflation and Unemployment Both Make You Miserable, but Maybe Not Equally.”. It’s one of those things that are so obvious no one ever stops to think about it – and so we have overlooked this for decades. 1. Stop for a moment and consider the original Misery Index formula as invented by the economist Arthur Okun : add the 3.7% unemployment rate ( BLS NFP ) to the 7.7% inflation rate as measured by the c
The Reformed Broker
NOVEMBER 18, 2022
Welcome to the latest episode of The Compound & Friends. This week, Michael Batnick, Gregor Macdonald, and Downtown Josh Brown discuss the latest on the Sam Bankman-Fried saga, the inverted yield curve, electrification of the power grid, the growth of electric vehicles, peak oil, and much more! You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods!
Financial Times M&A
NOVEMBER 18, 2022
Price rise supercharged by widespread share redemptions before Spac merger
Mish Talk
NOVEMBER 25, 2022
Demand Weakness Weighs On private sector business activity in November The S&P Global Flash US Composite PMI™ shows and escalation in private sector demand weakness. Key Findings Flash US PMI Composite Output Index at 46.3 (October: 48.2). 3-month low. Flash US Services Business Activity Index at 46.1 (October: 47.8). 3-month low. Flash US Manufacturing Output Index at 47.2 (October: 50.7). 30-month low.
Indigo Marketing Agency
NOVEMBER 1, 2022
On his podcast Bridging The Gap , host Matt Reiner recently welcomed our founder, Claire Akin, to dig into the basics of embracing a speciality and the importance of marketing “you” as a person and not necessarily “you” as a brand or company—just to scratch the surface! This is a must-listen for any advisor wondering how to grow their business more naturally and in a way that benefits everyone.
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.
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.
The Reformed Broker
NOVEMBER 19, 2022
We made some industry news this week with the hiring of Ritholtz Wealth Management’s first President. You can read about it at Investment News here. 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.
Financial Times M&A
NOVEMBER 17, 2022
Investors balk at loan and bond to fund Apollo buyout of car parts maker as hung deals pile up
Mish Talk
NOVEMBER 29, 2022
Monthly average Fed Funds Rate via St. Louis Fed. Chart Notes I use monthly averages because the Fed now targets a range. Also the Fed Funds Target Rate is discontinued and only dates to 1982. This is the steepest, most aggressive hiking cycle ever. You can see the impact especially in mortgage rates and thus housing. 30-Year Fixed Mortgage Rates 1975-Present. 30-year fixed mortgage rates courtesy of Mortgage News Daily. 30-Year Fixed Mortgage Rates - One Year. 30-year fixed mortgage rates court
A VC: Musings of a VC in NYC
NOVEMBER 28, 2022
When markets are in turmoil, like they have been for most of this year, I like to have a buy-and-hold mindset when it comes to making new investments. It is hard to know when you’ve reached the bottom and can start buying again, but if you think about a ten or twenty-year hold, then it becomes a bit easier. The Gotham Gal and I buy and build a fair bit of real estate on the side and we generally use a “cap rate” of between 5 and 10 when we acquire and develop real estate.
A Wealth of Common Sense
NOVEMBER 8, 2022
The most important skill in finance has nothing to do with math. Creating the best discounted cash flow models in the world won’t help you raise assets from prospective clients. No one really cares about your Microsoft Excel skills if you can’t explain what they’re good for. Spreadsheets aren’t nearly as important as soft skills.
The Big Picture
NOVEMBER 3, 2022
Fed Chair Jerome Powell and the FOMC increased the Fed Funds Rate another 75 bps yesterday, to 3.75-4.0%. Markets have given back much of October’s gains fairly quickly. I have been turning this over slowly in my mind, trying to assess their thinking here. I am not sure what models they use, what data they think is most important, what impact their actions will have, and perhaps most importantly, exactly what they are hoping to accomplish.
The Reformed Broker
NOVEMBER 30, 2022
Let’s assume we’re going to have a recession in 2023. I don’t know if we will, but everyone seems to think so, so let’s just say. So what. What can you do to stop it? Not much. Can you change your own spending and psych yourself up to survive it? Absolutely. Are there changes you could make to a portfolio in order to gird yourself for a worsening economy?
Financial Times M&A
NOVEMBER 10, 2022
Regulators cite ‘public interest concerns’ and shareholders object to offer for mining group with stake in Oyu Tolgoi project
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.
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