March, 2023

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Why the Stock Market Makes You Feel Bad All the Time

A Wealth of Common Sense

The last new all-time high for the S&P 500 was on January 3, 2022. That means it’s been almost 450 days since we’ve experienced new highs in the stock market. That feels like a long time. But based on the history of bear markets, it’s really not all that long. It might be a while until we hit new highs again if we use history as a guide.

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Investing in early childhood is a down payment on all our futures

Financial Times: Moral Money

Businesses should play a central role in changing attitudes

Investing 145
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UBS in talks to acquire Credit Suisse

Financial Times M&A

Swiss authorities press for merger to stem crisis of confidence in country’s banking sector

Banks 145
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Top.

The Reformed Broker

I feel pretty confident in making this call, and I don’t make market calls very often: We have seen the top for 2-year Treasury yields. It’s not going any higher than it’s been because there’s no reason for it to. Financial conditions are now contracting hard due in part to the events of this week but also because monetary policy operates on a lag – and the first Fed Funds hike of the cycle.

Funds 144
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How Much Money Buys Happiness?

The Big Picture

I love the idea of convergence — those rare times when multiple stories about very different issues seem to all land on the same “Grand Truth,” albeit from very different perspectives. Yesterday brought just such a three-part convergence into focus. It’s about money and happiness, which is very much the intersection of where I spend much of my time: Capital Markets , and Behavioral Finance.

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Customer Satisfaction Survey 2023

Private Equity Info

Customer Satisfaction Survey 2023: Results Show We Exceed Client Expectations in Quality of Data, Customer Service, and Pricing In January and February of 2023, Private Equity Info surveyed clients to understand our customers' perceptions of how we are doing, relative to the type of company we aim to be. My goal, when I founded Private Equity Info in 2005, was to create the data and tools I wished I had while working as an investment banker - to easily identify highly targeted lists of the priva

Companies 130
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One of the Biggest Mistakes in Investing

A Wealth of Common Sense

There are many different ways to succeed as an investor. If there were only one approach that worked, everyone would do that.1 I know plenty of investors with completely different styles that have found success in the markets over the years. But there are only a handful of ways investors fail in the markets: Allowing your emotions to get the best of you.

Investing 145

More Trending

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Adani seeks to sell stake in cement business for $450mn to reduce debt

Financial Times M&A

Indian group has sought lenders’ approval for disposal as it tries to boost investor confidence after fraud claims

Debt 145
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A shock to lending standards

The Reformed Broker

This is it. The only chart you need to concern yourself with now if you’re trying to figure out where the economy is heading. Construction and Industrial (C&I) loans are a $2.8 trillion business (approximately) for banks all over the country. If they roll over, we have a soft landing. If they roll over hard, we have a hard landing. It’s not complicated, the only thing that’s up in the air is the tim.

Banks 133
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The Fed is Breaking Things (and it could get worse)

The Big Picture

Armchair quarterbacking the decisions of the Federal Reserve long ago became a blood sport. With the benefit of hindsight, we all are genius central bankers. I particularly loathe managers who lay all the woes of the world at the feet of the Federal Reserve. For more than a century, America’s central bank has been a key part of the investing environment, and it’s your job as an active manager to incorporate their probable policy decisions into your strategy.

Banks 136
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Accessing Body Intelligence to Make Wiser Money Decisions with Gayle Colman

Steve Sanduski

Guest: Gayle Colman , Certified Financial Planner®, Master Integral Coach®, and author of the new book The Body of Money. In a Nutshell: Financial decisions are often framed as a tug of war between the head and the heart. But by paying attention to how the whole body expresses feelings around money, advisors can guide clients past their fears and towards a fulfilling sense of sufficiency and inner knowing. – Gayle Colman and I discuss: Gayle’s early history with the life planning mov

Finance 119
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The Happiness Paradox

A Wealth of Common Sense

John Marsden grew up in a wealthy family. He was a brilliant student who went to Harvard, graduated from law school and eventually fulfilled his dream of becoming a successful lawyer. John got married in his 30s and had children. Leo DeMarco also went to Harvard where he dreamed of becoming a famous writer. But after college he became a high school teacher and loved working with his students so much that his dream never c.

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I Squared Weighs Stake Sale in $1bn India’s Think Gas

Private Equity Insights

I Squared Capital is considering selling a minority stake in Think Gas Distribution Pvt. that could value the Indian natural gas supplier at more than $1bn, according to people familiar with the matter. The private equity firm is working with an adviser to sell as much as a 30% stake in Think Gas, said the people, who asked not to be identified as the information is private.

Stakes 130
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Silicon Valley Bank shut down by US banking regulators

Financial Times M&A

Tech-focused lender had faced deposit outflows and failed in eleventh-hour attempt to raise new capital

Banks 144
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This Week on TRB

The Reformed Broker

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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Déjà Vu? 2023 is Not 2008

The Big Picture

Depositors heaved a sigh of relief when news broke Sunday that the Federal Deposit Insurance Corporation was going to make whole all of the accounts held at Silicon Valley Bank. Having full access to bank accounts meant those tech start-ups that make up much of SVB’s depositors would be able to make their weekly payrolls. They were the lucky ones: SVB’s equity investors were wiped out and senior bank management was fired.

Banks 136
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Commas and independent clauses

Investment Writing

Commas drive me crazy. I’m often unsure about whether my clients’ long sentences need commas. A helpful rule is finally sinking into my head. I need to place a comma before an independent clause that follows a coordinating conjunction. What’s an independent clause? Here’s a nice, informative example from Actually, the Comma Goes Here by Lucy Cripps: Each independent clause makes sense on its own, but it links very closely in theme to the other independent clause.

Investing 111
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Why Aren’t Housing Prices Crashing?

A Wealth of Common Sense

The latest Case-Shiller national home price index data was released this week. Here’s where we stand in terms of the drawdown from peak prices: This is the third largest national home price drawdown since 1987 but I’m sure lots of people are surprised prices haven’t fallen more what with 7% mortgage rates and unsustainable price gains in recent years.

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Investcorp distributed $1.2bn to GCC investors over past 12 months

Private Equity Insights

Investcorp, an alternative asset manager that counts Mubadala Investment Company as its biggest shareholder, has distributed $1.2bn in total to its GCC-based investors over the past 12 months, driven by “several value realisation initiatives”. The investment realisations were across asset classes, including recent exits from its private equity platform in the US, the company said on Monday.

Investors 130
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Airbus drops deal with Atos digital unit after pressure from Chris Hohn

Financial Times M&A

Shares in Atos plummet after plane maker bows to demand from hedge fund boss to end interest in Evidian

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This Week on TRB

The Reformed Broker

I want to start out this week with a big thank you to all our fans, friends, employees and clients who came out to see us in Chicago this week for what can only be described as a whirlwind of productivity and fun. The meetings were meaningful, the catch-ups were long overdue and the food was fantastic. We will be back! If you live in the Chicago area and could use a little help with your portfolio, tax advice or just want.

Taxes 114
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Of Course WFH is “Really Working”

The Big Picture

Normally, I am a fan of Steve Rattner’s work. The former Obama “Car Czar” makes great charts and seems to be a fairly level-headed asset manager. But in the great baseball game of punditry, we all occasionally we step up to the plate and whiff. Such a down on three swings was contained in his recent NYT Op-Ed, “ Is Working From Home Really Working?

Legal 134
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Hundreds of funds to be stripped of ESG rating

Financial Times: Moral Money

Unpublished BlackRock research also reveals thousands more will be downgraded in wide-ranging MSCI shake-up

Funds 103
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How Much Do Americans Have Saved For Retirement?

A Wealth of Common Sense

According to the Bureau of Labor Statistics, nearly 70% of private industry workers had access to a workplace retirement plan in 2021. Just 51% of them participated in those plans. It’s estimated more than 100 million Americans are covered by a defined contribution retirement plan. Those plans hold something like $11 trillion. That’s a lot of money but is it enough to retire comfortably?

Financing 145
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MISTAKE MONDAY for March 27: Can YOU spot what’s wrong?

Investment Writing

Can you spot what’s wrong in the image below? Please post your answer as a comment. I think this one is pretty easy to spot. I post these challenges to raise awareness of the importance of proofreading. The post MISTAKE MONDAY for March 27: Can YOU spot what’s wrong? appeared first on Susan Weiner Investment Writing.

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Fiserv: the Steady Eddy that processes America’s readies

Financial Times M&A

Payments group made $17.

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SVB

The Reformed Broker

The spectacular blow-up currently taking place at SVB and its primary subsidiary, Silicon Valley Bank, is the biggest story in the markets this week. SVB is systemically important for the technology sector and its Northern California ecosystem. As Jim Cramer put it last night, the Federal Reserve has been firing a machine gun at the economy for the last 12 months but it hasn’t hit anything yet.

Banks 111
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How Many Bear Markets Have You Lived Through?

The Big Picture

Have a look at the BAML chart above. 1 It is one of my favorites, but for reasons that might not be readily apparent at first glance. The chart shows the peak-to-trough declines of all the bear markets with the popular definition of a 20% decline, measured up until the start of the first 20% rally. 2 The current move from 2021 highs is shown in red.

Finance 134
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So you think you know your supply chain?

Financial Times: Moral Money

With greater scrutiny by investors and new regulations, the issue of worker exploitation and abuse is more in the public eye than ever

Investors 100
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More Money Doesn’t Make You Better at Managing Your Finances

A Wealth of Common Sense

There were a lot of surprising details that came to light from the Silicon Valley Bank fiasco. It was surprising how quickly a bank run took hold for such a large institution. It was surprising how quickly the bank’s customers fled one of their most trusted partners. It was surprising how seemingly little oversight this now systemically important bank had.

Finance 143
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FAQ – Bank Failures and Is This 2008 All Over Again?

Walkner Condon Financial Advisors

Over the weekend, we learned that Silicon Valley Bank and two other banks failed and were taken over by the Federal Deposit Insurance Corporation (FDIC). These are the first bank failures since 2020 and three of the 563 that have taken place since 2001 ( [link] ). This caused a fear over the weekend that we might see a repeat of 2007-2009. As the week has gone on, fear has spread to larger regional banks such as First Republic in California and international banks such as Credit Suisse.

Banks 98
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‘Hard to fluster’ adviser lands central role in US bank mess clean-up

Financial Times M&A

Todd Snyder ran auctions of Silicon Valley and Signature after failures shook financial system

Banks 100
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The good news

The Reformed Broker

Apparently it’s news to the whole world this morning that Credit Suisse is some sort of undead Swiss zombie bank worth more dissected and sold off in chunks than alive. Who knew? Oh wait – everyone knew, for a long time now. Open secret. Single digit stock price. Come on. I meet financial advisors at industry events and cocktail parties – I wince when they say they work at Credit Suisse.

Banks 110
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U.S. Bank Failures, 2001 – Present

The Big Picture

Bank failures since 2001, scaled by amount of assets in 2023 dollars. The graphic above, via Flowing Data , puts recent events into perspective: At $209 billion in assets, the Silicon Valley Bank failure since Washington Mutual crashed in 2008 (JPM Chase took them over from the FDIC). The post U.S. Bank Failures, 2001 – Present appeared first on The Big Picture.

Banks 132
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Investors pull nearly $4bn from iShares ESG ETF in one day

Financial Times: Moral Money

Quality Factor ETF receives $4.

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Will AI Replace Financial Advisors?

A Wealth of Common Sense

A reader asks: Technology has made investing easier (indexing, direct indexing, robo advisors, etc.). With AI in vogue right now, what does the RIA space/ financial planning look like in another 20-30 years? Will there still be a human need to hold hands/talk you off a ledge, or will the only human interactions be those maintaining the tech behind the scenes?

Investing 142
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Traditional (And Unusual) Pets for Retirees

Integrity Financial Planning

If you are planning on retiring or you have just retired, this might be the perfect time to get a pet! Now that you have more time to focus on the things you want, you may find that you finally have time to take care of a pet. Pets are like companions and hobbies all rolled into one cute package! They can also be a great way to liven up your home if your kids have moved away and you feel like the house could use another friend around.

Finance 98