Remember when banks were small? Those old enough to have a bank account in the 1970s should. Back then, most people did their banking with a locally owned institution, often the First National Bank of (Your Town).
Gold appears to be well-positioned for a strong pump that could carry it to new all-time high prices in 2023—and beyond. As you know, I’ve been following and writing about the precious metal market for a very long time, and I see a number of unique catalysts at the moment that could contribute to higher gold prices.
Stocks built on overnight gains and Treasury yields inched lower following today's relatively benign February PCE inflation data.
Early signs of economic unraveling are appearing. The federal corporation that insures bank deposits is woefully underfunded. The Fed is under pressure to pivot away from its inflation fight.
The investment landscape is pockmarked by intractable statistics that continue to impose strategic and psychological barriers to the short term potential of portfolio alpha.
Personal income (excluding transfer receipts) in February rose 0.3% and is up 6.6% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) MoM was up 0.03% and was up 1.6% year-over-year.
“QE” or “Quantitative Easing” has been the bull’s “siren song” of the last decade, but will “Not QE” be the same?
This morning's seasonally adjusted 198K new claims, up 7K from the previous week's revised figure, came in above the Investing.com forecast of 191K.
A group of conservative Republicans representatives known as the House Freedom Caucus came out last week against any proposal that would lift the cap on deposit insurance, currently set at $250,000. Members of US Congress on both sides of the aisle are understandably cautious about taking such a dramatic step in the middle of an unfolding crisis.
Congress is asking the Federal Reserve and other financial regulators what went wrong at Silicon Valley Bank and why they didn’t see it coming. In due course, they’ll admit some mistakes, draw some lessons and tweak some rules.
I’ve received more emails and calls from clients on the failure of SVB Bank than I did on the stock market crash in April of 2020. That tells me there is wide concern today about the stability of the economy and financial markets.
The Senate Banking Committee held a hearing to investigate the collapse of Signature Bank (SBNY) and Silicon Valley Bank (SIVB/SIVBQ) that brought to discussion possible changes for the entire banking system.
From the perspective of the U.S. stock market, 2022 was a miserable year (with the S&P 500 declining 19.4%), but until recently, 2023 was shaping up to be a stronger year.
A study, reported in the Harvard Business Review, claimed that likability was not important to the sales process.
The 2023 T3/Inside Information Software Survey is now available. It’s the best guide to the 300+ fintech solutions in the marketplace, and a good buyer’s guide for advisory firms that are looking for additions or enhancements to their tech stack.
The sudden loss of confidence by depositors in some US banks is causing many to focus on the scope for financial contagion and the needed policy responses. What should not be overlooked is the other, and slower, contagion channel in play — that involving enablers of economic growth...
A simple annuity can effectively replace bond holdings in a retirement plan that are earmarked to meet the lifetime spending goal. The question is why should a retiree hold any bonds in the portion of their asset base designed to cover ongoing retirement spending goals?
Many have questioned the importance of the recent bank failures.
The economic signals and a host of geopolitical risks confronting investors suggest that 2023 could be as challenging as 20022 for both stocks and bonds.
Annie Duke, once one of the best female poker players in the world, helped me understand why people work longer than they need to. This got me thinking about the decumulation problem more broadly and planning to live to age 100.
For all of you following the banking crises in the US and Europe, and asking why this is all happening again, I have bad news: Regardless of what laws are passed, or which regulations are issued, banking crises will recur — and not infrequently.
The fallout from SVB will make the Fed's job more difficult.
It’s rarely mentioned, but it’s stunning how often the financial planning profession has foreshadowed the evolution of our social environment.
The U.S. dollar remains the world’s top reserve currency for now, though its share of global central banks’ official holdings has slipped in the past 20 years. By contrast, the yuan’s share of official holdings has more than doubled since 2016.
As interest rates show signs of peaking, gold prices are nearing new all-time highs.
Chief Economist Eugenio J. Alemán discusses current economic conditions.
The GMO Focused Equity team has evaluated banks in the context of our Quality Strategy for 20 years, using both quantitative and fundamental analysis to invest in high-quality banks with healthy financials and in our opinion responsible management practices.
To help understand the current market volatility arising from the collapse of banks in the United States and Europe, Head of Franklin Templeton Institute Stephen Dover provides his answers to three crucial questions.
Yesterday, the Fed completed its regular meeting and announced that it would increase interest rates by 25 bps, or a quarter percentage point.
Read our latest insight where Dan Suzuki explains what investors need to know about the Silicon Valley Bank collapse.
Income-seeking investors are accustomed to casting wide nets after years of low yields.
Silicon Valley Bank was a “vital cog” in the private market ecosystem, which leads to many questions—and opportunities—across the alternative investments landscape.
There are five reasons why prospects decide to choose someone else.
US officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis.
CIO Larry Adam outlines the positive events that are outweighing negative developments and looks at dynamics to focus on in the week ahead.
The simplest thing that can be said about current financial market and banking conditions is this: the unwinding of this Fed-induced, yield-seeking speculative bubble is proceeding as one would expect, and it’s not over by a longshot.
Portfolio Manager Andy Acker explains why the healthcare sector could offer an attractive combination of defense and growth in today’s market.
A TIPS is risky in the short term and riskless in the long run, which is precisely the opposite of, and complementary to, a T-bill, which is riskless in the short term but, because of reinvestment rate volatility, risky in the long run.
For years I’ve used a sandpile metaphor to describe complex systems like banking. Keep dropping grains of sand long enough and you will eventually trigger an avalanche.
Sixty-six million Americans currently receive monthly benefits from Social Security, which, if nothing changes, is expected to be insolvent by 2035 at the latest. It’s time for Americans to take a greater role in their own retirement planning.
The full story of SVB is still unfolding, but we offer some initial reactions.
Just over a year before Silicon Valley Bank’s collapse threatened a generation of technology startups and their backers, the Federal Reserve Bank of San Francisco appointed a more senior team of examiners to assess the firm. They started calling out problem after problem.
U.S. equities are lower as pressure has returned to the banking sector, which remains top of mind.
The latest Conference Board Leading Economic Index (LEI) for February was down 0.3% to 110.0 from January's final figure of 110.3, marking the 11th consecutive MoM decline. Today's reading was consistent with the Investing.com forecast.
In a dovish move, the central bank raises rates by half a point.
Although the dust has not yet settled, we think it’s a good time to pause and consider the implications of the recent Silicon Valley Bank (SVB) collapse.
Advisors are increasingly using annuities when they determine that it is in their clients’ best interests. They recognize that it is a client’s income – not their wealth – that matters in retirement, and annuities are the only way to provide a longevity-protected income solution. Rising inflation and uncertainty over high market valuations have made the need to secure lifetime income more acute, and rising interest rates have made annuities more affordable.
Here to discuss how to help clients and prospects determine if an annuity is a good fit for their financial needs are three members of the Protective Life team: Lori Marino, Tom Sullivan and Mark Berwanger.
U.S. stocks are falling in pre-market trading as recent banking turmoil on this side of the pond made its way to Europe.
The failure of Silicon Valley Bank raises questions for Fed policy and economic growth.
The extreme “tail” risk ahead may be disorienting.
An acceleration in monthly core consumer prices seems likely to reinforce the Federal Reserve’s determination to raise interest rates to fight inflation, though the decision on next week’s move will be a tough call amid ongoing concern about financial turmoil.
Why did Silicon Valley Bank fail?
The Bureau of Labor Statistics released the February Consumer Price Index data this morning. The year-over-year Headline CPI came in as expected at 6.0%, down from 6.4% the previous month (n.s.a). Year-over-year Core CPI (ex Food and Energy) also came in as expected at 5.5%, down from 5.6% the previous month (n.s.a).
The high-profile collapse of Silicon Valley Bank last week is a story about bad debt, just not in the way most people think.
Let's take a close look at February's employment report numbers on Full and Part-Time Employment.
Can we aggressively position assets today that have the potential for strong growth in the next 24 months when a tuition bill is due, without exposing those assets to market risk?
What does the ratio of unemployment claims tell us about where we are in the business cycle and recession risk?
US authorities took extraordinary measures to shore up confidence in the financial system after the collapse of Silicon Valley Bank, introducing a new backstop for banks that Federal Reserve officials said was big enough to protect the entire nation’s deposits.
U.S. stocks are extending last week's sharp declines that have come amid worries regarding the ultimate impact on the banking sector of the recent collapses of SVB Financial and Silvergate Capital.
Here’s an update on the latest news involving Silicon Valley Bank and the implications for the Fed and markets, from Stephen Dover, Head of Franklin Templeton Institute.
If a picture is worth a thousand words, this will be the “longest” letter I’ve sent you in a while, as there are quite a few pictures. It may also be the most wide-ranging.
Like face recognition, artificial intelligence (AI), mRNA vaccines and other modern technology, Bitcoin is a key component of the ongoing, rapidly accelerating digital transformation.
Greg Becker sat in a red armchair at an invite-only conference in Los Angeles last week, legs crossed, one hand cutting through air.
Former Treasury Secretary Lawrence Summers said that the odds are now almost even that the Federal Reserve will have to raise its benchmark interest rate to 6% or more to bring inflation back down to its 2% target.
President Joe Biden is proposing a series of new tax increases on billionaires, rich investors and corporations in his latest proposal for how Congress should prioritize taxes and spending.
Anyone working with US regulators to salvage Silvergate Capital Corp., the crypto-friendly bank, will have to reckon with a key variable — the wariness of those same officials about digital assets.
I’m writing to ask why the advisory profession isn’t set up to provide more human-oriented support to advisors who are trying to transition.
Clients and prospects are demanding a more flexible, iterative financial planning process that evolves as their financial lives do. That is why my guest today created Elements, a mobile-first, client-centric, financial monitoring platform. Elements builds a one-page financial plan that helps the modern advisor remain in closer, deeper communication with clients as their financial needs shift. It encourages better behaviors with clients that promote financial health by displaying digestible pieces of critical financial data, including debt, savings, spending, insurance, investments, and more.
European stocks have outperformed this year as China’s economy restarts and the energy shock proved less severe than expected.
Lufthansa’s blockbuster report is just the latest signal that commercial aviation, one of the hardest-hit industries during the pandemic, may be ready to make a landing again in investors’ portfolios.
The February US services purchasing managers' index (PMI) conducted by S&P Global came in at 50.6 percent, notably up from 46.8 in January and just slightly higher than the Investing.com forecast of 50.5. This morning's reading moves the index into expansion territory after being in contraction for seven months.
There’s one strategy that is not only a great wealth-building solution but is also triple tax-advantaged…
As fourth-quarter earnings rolled in with mixed results, the stock market opened the year in rally mode.
Medical Properties Trust’s dividend at the 2022 rate of $1.16 is safe even if Prospect, its third-largest operator, does not pay a single cent in 2023.
The February S&P Global US Manufacturing PMI™ hit a 3-month high coming in at 47.3, up 0.4 from the final January figure, and slightly worse than the Investing.com forecast of 47.8. This marks the fourth consecutive month in contraction territory, a streak we have not seen since 2020.
Balancing the needs of your clients with the needs of your advisory business is challenging, but it’s essential to maintaining growth and scale. My guests today will discuss how to navigate the challenges advisors face through phases of growth by identifying opportunities to increase value, drive growth, and boost your firm’s performance. From client segmentation to succession planning to other key issues, my guests will identify the key decisions advisors must make to build a sustainable, successful business.
AssetMark is a turnkey asset management platform for financial advisors specifically tailored to help investors achieve their life goals. It supports more than $80 billion in client assets.
Scores of counties offer a free monitoring service to taxpayers if a new need is filed for a property.
This commentary reflects on the silver linings of the higher interest rate environment as well as explores the possible winners and losers under this new regime.
Consumers want meaningful connections, authenticity, and value from credible sources, whether or not they have “celebrity” status.
Being flexible with spending matters. My analysis shows that variable spending strategies – including floor-and-ceiling, guardrail, actuarial and other methods – can dramatically increase sustainable retirement spending.
Close to 90% of the world’s central banks are at some point in the process of creating their own digital currency. Are you ready?
For those advisors working with foreign nationals on work visas, I’ll discuss a couple of things you can do to help your clients who are impacted.
US economic growth in the fourth quarter was weaker than previously estimated, reflecting a downward revision to consumer spending as the Federal Reserve’s preferred inflation figures were revised higher.
January’s Consumer Price Index (CPI) released this week by the Bureau of Labor Statistics moderated to 6.4% on an annual basis, down from December’s 6.5% and well below its peak of 9.1% in June 2022.
MPW’s dividend is safe.
Passively managed equity funds are on the cusp of marking a milestone that’s been more than a decade in the making: Globally, net assets in such products are about to exceed those of their actively managed counterparts, according to Societe Generale.
ChatGPT has ignited the world’s imagination about the power of artificial intelligence (AI).
Healthcare
Disturbing Thoughts
Remember when banks were small? Those old enough to have a bank account in the 1970s should. Back then, most people did their banking with a locally owned institution, often the First National Bank of (Your Town).
The Top Three Catalysts For Higher Gold Prices In 2023
Gold appears to be well-positioned for a strong pump that could carry it to new all-time high prices in 2023—and beyond. As you know, I’ve been following and writing about the precious metal market for a very long time, and I see a number of unique catalysts at the moment that could contribute to higher gold prices.
Price Growth Slows, Stocks Gain
Stocks built on overnight gains and Treasury yields inched lower following today's relatively benign February PCE inflation data.
The Impact of Bank Failures and Disintermediation
Early signs of economic unraveling are appearing. The federal corporation that insures bank deposits is woefully underfunded. The Fed is under pressure to pivot away from its inflation fight.
T minus 10, 9, 8….
The investment landscape is pockmarked by intractable statistics that continue to impose strategic and psychological barriers to the short term potential of portfolio alpha.
The Big Four: Real Personal Income in February
Personal income (excluding transfer receipts) in February rose 0.3% and is up 6.6% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) MoM was up 0.03% and was up 1.6% year-over-year.
“Not QE” Puts Fed Between A “Rock And A Hard Place”
“QE” or “Quantitative Easing” has been the bull’s “siren song” of the last decade, but will “Not QE” be the same?
Weekly Unemployment Claims: Up 7K, Higher Than Expected
This morning's seasonally adjusted 198K new claims, up 7K from the previous week's revised figure, came in above the Investing.com forecast of 191K.
Insurance for All Bank Deposits Is a Manageable Cost
A group of conservative Republicans representatives known as the House Freedom Caucus came out last week against any proposal that would lift the cap on deposit insurance, currently set at $250,000. Members of US Congress on both sides of the aisle are understandably cautious about taking such a dramatic step in the middle of an unfolding crisis.
Want Safer Banks? Then Prepare for Slower Growth
Congress is asking the Federal Reserve and other financial regulators what went wrong at Silicon Valley Bank and why they didn’t see it coming. In due course, they’ll admit some mistakes, draw some lessons and tweak some rules.
Any Bank Can Fail; Don’t Panic
I’ve received more emails and calls from clients on the failure of SVB Bank than I did on the stock market crash in April of 2020. That tells me there is wide concern today about the stability of the economy and financial markets.
Proposed Bank Changes and Fed Comments
The Senate Banking Committee held a hearing to investigate the collapse of Signature Bank (SBNY) and Silicon Valley Bank (SIVB/SIVBQ) that brought to discussion possible changes for the entire banking system.
From Crisis Comes Opportunity
From the perspective of the U.S. stock market, 2022 was a miserable year (with the S&P 500 declining 19.4%), but until recently, 2023 was shaping up to be a stronger year.
Is the Harvard Business Review Always Right?
A study, reported in the Harvard Business Review, claimed that likability was not important to the sales process.
Some Observations from This Year’s Survey of the Fintech Landscape
The 2023 T3/Inside Information Software Survey is now available. It’s the best guide to the 300+ fintech solutions in the marketplace, and a good buyer’s guide for advisory firms that are looking for additions or enhancements to their tech stack.
What Happens in the Banking Sector Won’t Stay There
The sudden loss of confidence by depositors in some US banks is causing many to focus on the scope for financial contagion and the needed policy responses. What should not be overlooked is the other, and slower, contagion channel in play — that involving enablers of economic growth...
The Fundamental Logic of Annuities with Lifetime Income
A simple annuity can effectively replace bond holdings in a retirement plan that are earmarked to meet the lifetime spending goal. The question is why should a retiree hold any bonds in the portion of their asset base designed to cover ongoing retirement spending goals?
Silicon Valley Bank’s Failure Highlights Systemically Combustible Conditions
Many have questioned the importance of the recent bank failures.
First Quarter 2023 Economic Review and Forecast
The economic signals and a host of geopolitical risks confronting investors suggest that 2023 could be as challenging as 20022 for both stocks and bonds.
On Quitting Early, the Decumulation Problem and Living to 100
Annie Duke, once one of the best female poker players in the world, helped me understand why people work longer than they need to. This got me thinking about the decumulation problem more broadly and planning to live to age 100.
Regulation Can’t Prevent the Next Financial Crisis
For all of you following the banking crises in the US and Europe, and asking why this is all happening again, I have bad news: Regardless of what laws are passed, or which regulations are issued, banking crises will recur — and not infrequently.
The Fed Faces Its Trilemma
The fallout from SVB will make the Fed's job more difficult.
The Planning Profession is Leading Us to a Better World
It’s rarely mentioned, but it’s stunning how often the financial planning profession has foreshadowed the evolution of our social environment.
“Not QE” Puts Fed Between A “Rock And A Hard Place”
“QE” or “Quantitative Easing” has been the bull’s “siren song” of the last decade, but will “Not QE” be the same?
Is This The End Of The Petrodollar?
The U.S. dollar remains the world’s top reserve currency for now, though its share of global central banks’ official holdings has slipped in the past 20 years. By contrast, the yuan’s share of official holdings has more than doubled since 2016.
Fed Hikes Rates as Bank Worries Spread Globally
As interest rates show signs of peaking, gold prices are nearing new all-time highs.
Growth in Real Money Supply is What is Important for Taming Inflation, and for the Fed
Chief Economist Eugenio J. Alemán discusses current economic conditions.
Echoes Of '08? Don't Bank On It
The GMO Focused Equity team has evaluated banks in the context of our Quality Strategy for 20 years, using both quantitative and fundamental analysis to invest in high-quality banks with healthy financials and in our opinion responsible management practices.
The Crucial Questions
To help understand the current market volatility arising from the collapse of banks in the United States and Europe, Head of Franklin Templeton Institute Stephen Dover provides his answers to three crucial questions.
Market Focus Moves from the Fed to Financial Crisis
Yesterday, the Fed completed its regular meeting and announced that it would increase interest rates by 25 bps, or a quarter percentage point.
Some Thoughts on Banks
Read our latest insight where Dan Suzuki explains what investors need to know about the Silicon Valley Bank collapse.
Taming Biases in High-Dividend Equity Strategies
Income-seeking investors are accustomed to casting wide nets after years of low yields.
Alternative Investments Outlook Post-SVB
Silicon Valley Bank was a “vital cog” in the private market ecosystem, which leads to many questions—and opportunities—across the alternative investments landscape.
Five Research-Based Reasons Why You Lose Prospects
There are five reasons why prospects decide to choose someone else.
US Studies Ways to Insure All Bank Deposits If Crisis Grows
US officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis.
Incremental Progress Emerging in the Banking Sector Fallout
CIO Larry Adam outlines the positive events that are outweighing negative developments and looks at dynamics to focus on in the week ahead.
Edge of the Edge
The simplest thing that can be said about current financial market and banking conditions is this: the unwinding of this Fed-induced, yield-seeking speculative bubble is proceeding as one would expect, and it’s not over by a longshot.
A Difficult Job Becomes Even More Difficult
Chief Economist Eugenio J. Alemán discusses current economic conditions.
Two Sides of Healthcare, One Strong Investment Case
Portfolio Manager Andy Acker explains why the healthcare sector could offer an attractive combination of defense and growth in today’s market.
Riskless at Age 104
A TIPS is risky in the short term and riskless in the long run, which is precisely the opposite of, and complementary to, a T-bill, which is riskless in the short term but, because of reinvestment rate volatility, risky in the long run.
Another Unstable Finger
For years I’ve used a sandpile metaphor to describe complex systems like banking. Keep dropping grains of sand long enough and you will eventually trigger an avalanche.
Pension Reform Showdown: Will The U.S. Follow France’s Bold Retirement Age Changes?
Sixty-six million Americans currently receive monthly benefits from Social Security, which, if nothing changes, is expected to be insolvent by 2035 at the latest. It’s time for Americans to take a greater role in their own retirement planning.
Silicon Valley: The Consequences of a Bank's Failure
The full story of SVB is still unfolding, but we offer some initial reactions.
The Fed Was Too Late on SVB Even Though It Saw Problem After Problem
Just over a year before Silicon Valley Bank’s collapse threatened a generation of technology startups and their backers, the Federal Reserve Bank of San Francisco appointed a more senior team of examiners to assess the firm. They started calling out problem after problem.
Banking Sector Uncertainty Keeps Pressure on Stocks
U.S. equities are lower as pressure has returned to the banking sector, which remains top of mind.
CB LEI: Down 0.3% in February, Still Pointing to Risk of Recession
The latest Conference Board Leading Economic Index (LEI) for February was down 0.3% to 110.0 from January's final figure of 110.3, marking the 11th consecutive MoM decline. Today's reading was consistent with the Investing.com forecast.
The ECB Hikes Rates Amid Financial Market Volatility
In a dovish move, the central bank raises rates by half a point.
SVB Failure: The Impact on Private Credit
Although the dust has not yet settled, we think it’s a good time to pause and consider the implications of the recent Silicon Valley Bank (SVB) collapse.
How to Frame Client Discussions About Lifetime-Income Solutions
Advisors are increasingly using annuities when they determine that it is in their clients’ best interests. They recognize that it is a client’s income – not their wealth – that matters in retirement, and annuities are the only way to provide a longevity-protected income solution. Rising inflation and uncertainty over high market valuations have made the need to secure lifetime income more acute, and rising interest rates have made annuities more affordable.
Here to discuss how to help clients and prospects determine if an annuity is a good fit for their financial needs are three members of the Protective Life team: Lori Marino, Tom Sullivan and Mark Berwanger.
Stocks Falling as European Banking Worries Flare Up
U.S. stocks are falling in pre-market trading as recent banking turmoil on this side of the pond made its way to Europe.
Bank Failures and the Fed
The failure of Silicon Valley Bank raises questions for Fed policy and economic growth.
Headed For The Tail
The extreme “tail” risk ahead may be disorienting.
Fed Rate Pause Is a Tough Call After Inflation Reaccelerates
An acceleration in monthly core consumer prices seems likely to reinforce the Federal Reserve’s determination to raise interest rates to fight inflation, though the decision on next week’s move will be a tough call amid ongoing concern about financial turmoil.
Making Sense of SVB, a Unique Bank with a Classic Problem
Why did Silicon Valley Bank fail?
Consumer Price Index: February Headline at 6.0%, Down from January
The Bureau of Labor Statistics released the February Consumer Price Index data this morning. The year-over-year Headline CPI came in as expected at 6.0%, down from 6.4% the previous month (n.s.a). Year-over-year Core CPI (ex Food and Energy) also came in as expected at 5.5%, down from 5.6% the previous month (n.s.a).
Treasuries: "Risk Free" or "Risk Unlimited"?
The high-profile collapse of Silicon Valley Bank last week is a story about bad debt, just not in the way most people think.
Full-time and Part-time Employment: A Deeper Look
Let's take a close look at February's employment report numbers on Full and Part-Time Employment.
An Annuity Can Fund Looming College Tuition
Can we aggressively position assets today that have the potential for strong growth in the next 24 months when a tuition bill is due, without exposing those assets to market risk?
The Civilian Labor Force, Unemployment Claims and the Business Cycle
What does the ratio of unemployment claims tell us about where we are in the business cycle and recession risk?
Fed’s New Backstop Shields Banks From $300 Billion of Losses
US authorities took extraordinary measures to shore up confidence in the financial system after the collapse of Silicon Valley Bank, introducing a new backstop for banks that Federal Reserve officials said was big enough to protect the entire nation’s deposits.
Stocks Remain Under Pressure as Banking Worries Remain
U.S. stocks are extending last week's sharp declines that have come amid worries regarding the ultimate impact on the banking sector of the recent collapses of SVB Financial and Silvergate Capital.
Silicon Valley Bank Failure Ripples Through the Market
Here’s an update on the latest news involving Silicon Valley Bank and the implications for the Fed and markets, from Stephen Dover, Head of Franklin Templeton Institute.
Monetary Cycle Versus Fiscal Cycle: What is the Difference?
Chief Economist Eugenio J. Alemán discusses current economic conditions.
Thousand-Word Equivalents
If a picture is worth a thousand words, this will be the “longest” letter I’ve sent you in a while, as there are quite a few pictures. It may also be the most wide-ranging.
Bitcoin Is A Key Component Of The Great Digital Transformation
Like face recognition, artificial intelligence (AI), mRNA vaccines and other modern technology, Bitcoin is a key component of the ongoing, rapidly accelerating digital transformation.
SVB’s 44-Hour Collapse Was Rooted in Treasury Bets During Pandemic
Greg Becker sat in a red armchair at an invite-only conference in Los Angeles last week, legs crossed, one hand cutting through air.
Summers Sees Nearly 50-50 Odds Fed Must Hike to 6% or Higher
Former Treasury Secretary Lawrence Summers said that the odds are now almost even that the Federal Reserve will have to raise its benchmark interest rate to 6% or more to bring inflation back down to its 2% target.
Biden to Urge 25% Billionaire Tax, Levies on Rich Investors
President Joe Biden is proposing a series of new tax increases on billionaires, rich investors and corporations in his latest proposal for how Congress should prioritize taxes and spending.
US Crypto Caution Adds a Hurdle to Silvergate’s Rescue Effort
Anyone working with US regulators to salvage Silvergate Capital Corp., the crypto-friendly bank, will have to reckon with a key variable — the wariness of those same officials about digital assets.
Dealing With Unresponsive Vendors
I’m writing to ask why the advisory profession isn’t set up to provide more human-oriented support to advisors who are trying to transition.
Breakthrough Technology to Monitor Your Clients' Financial Health
Clients and prospects are demanding a more flexible, iterative financial planning process that evolves as their financial lives do. That is why my guest today created Elements, a mobile-first, client-centric, financial monitoring platform. Elements builds a one-page financial plan that helps the modern advisor remain in closer, deeper communication with clients as their financial needs shift. It encourages better behaviors with clients that promote financial health by displaying digestible pieces of critical financial data, including debt, savings, spending, insurance, investments, and more.
Europe: Sticky Inflation Favors Income
European stocks have outperformed this year as China’s economy restarts and the energy shock proved less severe than expected.
Airline Stocks Are Soaring Over The Negative Headlines, Lifted By Positive Earnings
Lufthansa’s blockbuster report is just the latest signal that commercial aviation, one of the hardest-hit industries during the pandemic, may be ready to make a landing again in investors’ portfolios.
S&P Global Services PMI: Renewed Expansion in February
The February US services purchasing managers' index (PMI) conducted by S&P Global came in at 50.6 percent, notably up from 46.8 in January and just slightly higher than the Investing.com forecast of 50.5. This morning's reading moves the index into expansion territory after being in contraction for seven months.
The Triple-Tax Advantaged Strategy that Too Few Advisors Use
There’s one strategy that is not only a great wealth-building solution but is also triple tax-advantaged…
Mixed Earnings Meet Market Rally: A Stock Investor’s Take
As fourth-quarter earnings rolled in with mixed results, the stock market opened the year in rally mode.
Medical Properties Trust: 11.26% Yield – The Risk is Priced In
Medical Properties Trust’s dividend at the 2022 rate of $1.16 is safe even if Prospect, its third-largest operator, does not pay a single cent in 2023.
February S&P Global US Manufacturing PMI™: Softest Decline in 3 Months
The February S&P Global US Manufacturing PMI™ hit a 3-month high coming in at 47.3, up 0.4 from the final January figure, and slightly worse than the Investing.com forecast of 47.8. This marks the fourth consecutive month in contraction territory, a streak we have not seen since 2020.
How to Position Your Practice for Growth in 2023
Balancing the needs of your clients with the needs of your advisory business is challenging, but it’s essential to maintaining growth and scale. My guests today will discuss how to navigate the challenges advisors face through phases of growth by identifying opportunities to increase value, drive growth, and boost your firm’s performance. From client segmentation to succession planning to other key issues, my guests will identify the key decisions advisors must make to build a sustainable, successful business.
AssetMark is a turnkey asset management platform for financial advisors specifically tailored to help investors achieve their life goals. It supports more than $80 billion in client assets.
Your Clients May Get Free Real Estate Title Monitoring
Scores of counties offer a free monitoring service to taxpayers if a new need is filed for a property.
Silver Linings - Our February 2023 market Commentary
This commentary reflects on the silver linings of the higher interest rate environment as well as explores the possible winners and losers under this new regime.
How to Reimagine Influencer Marketing for Your Firm
Consumers want meaningful connections, authenticity, and value from credible sources, whether or not they have “celebrity” status.
A Framework for Assessing Variable Spending Strategies
Being flexible with spending matters. My analysis shows that variable spending strategies – including floor-and-ceiling, guardrail, actuarial and other methods – can dramatically increase sustainable retirement spending.
Your CBDC Survival Guide
Close to 90% of the world’s central banks are at some point in the process of creating their own digital currency. Are you ready?
Advising Clients Impacted by the Tech Layoffs
For those advisors working with foreign nationals on work visas, I’ll discuss a couple of things you can do to help your clients who are impacted.
US Fourth-Quarter GDP Revised Lower on Weaker Consumer Spending
US economic growth in the fourth quarter was weaker than previously estimated, reflecting a downward revision to consumer spending as the Federal Reserve’s preferred inflation figures were revised higher.
Takeaways from January’s CPI Announcement
January’s Consumer Price Index (CPI) released this week by the Bureau of Labor Statistics moderated to 6.4% on an annual basis, down from December’s 6.5% and well below its peak of 9.1% in June 2022.
Medical Properties Trust: 9% Current And Growing Dividend Yield
MPW’s dividend is safe.
Global Passive Equity Funds Set to Overtake Active Funds
Passively managed equity funds are on the cusp of marking a milestone that’s been more than a decade in the making: Globally, net assets in such products are about to exceed those of their actively managed counterparts, according to Societe Generale.
AI Chatbots Rewrite Code for Technology Sector’s Future
ChatGPT has ignited the world’s imagination about the power of artificial intelligence (AI).