Wealth Management News & Insights
- Minutes of the Federal Open Market Committee – March 21–22, 2023: Update on recent developments in the banking sector, developments in financial markets and open market operations, staff review of the economic & financial situation, participants’ views on current conditions and the economic outlook, and more. [FRB]
- 12 Charts Show a Global Recession Has Already Begun — and How Investors Can Protect Their Portfolios: BofA’s ‘dirty dozen’ charts show signs of recession abound, even if some assets remain blissfully unaware. [Market Watch]
- Business Cycle Dating Procedure: Frequently Asked Questions: The National Bureau of Economic Research comments on how they identify the dates of peak and trough months in economic activity, how they define a recession, and more FAQ’s. [NBER]
- Warren Buffett Says We’re Not Through With Bank Failures: Investing legend Warren Buffett believes there could be more bank failures down the road, but depositors should not ever be worried. [CNBC]
- The Era of Easy Deposits Is Over for Main Street Banks: Lenders like Citizens Financial and Hancock Whitney are paying more to keep depositors around. [WSJ]
- They Can’t Even: A Generation Avoids Facing Its Finances: Pandemic whiplash and inflation make managing a budget a challenge for young people. [WSJ]
- What’s the Tax Bite When You Own—Or Sell—a Rental Property: Whether you already own a rental property or are thinking about buying your first investment, it’s essential to understand how real estate taxes work. [Investopedia]
- When Will I Retire? How About Never: For many people, the idea of stopping work is a nonstarter—an inevitable path to boredom, ill health and a life devoid of meaning. [WSJ]
- Don’t Call Them ‘Barbarians at the Gate’: KKR plans to invest broadly and double earnings as founders Kravis and Roberts prepare to hand off control. [WSJ]
- McDonald’s and Franchisees Escalate Battle Over Chain Rules: Restaurant operators push legislation to give them more say; McDonald’s says such bills are dividing the chain. [WSJ]
- A $787.5 Million Settlement and Embarrassing Disclosures: The Costs of Airing a Lie: Fox News’s late-stage agreement with Dominion Voting Systems came with a rare acknowledgment of broadcasting false claims by the conservative media powerhouse. [NYT]
- David Zaslav Challenged the Streaming Industry’s Orthodoxy. Now, Rivals Are Following His Lead: Warner Bros. Discovery to unveil new streaming service Wednesday, but CEO’s playbook is much broader than that. [WSJ]
Life & Work
- AI Can Write a Song, but It Can’t Beat the Market: Wall Street has long used automated algorithms for tasks such as placing trades and managing risk. But investors haven’t made much progress relying on AI to tackle their biggest challenge: beating the market. [WSJ]
- We Must Slow Down the Race to God-Like AI: I’ve invested in more than 50 artificial intelligence start-ups. What I’ve seen worries me. [Financial Times]
- The Mind Behind the Music You Can’t Get Out of Your Head: The ‘Super Mario Bros.’ theme is one of the biggest earworms of all time. It was also a tech breakthrough. [WSJ]
- The iPhone Setting Thieves Use to Lock You Out of Your Apple Account: The recovery key was designed to make Apple IDs safer. Instead, these victims permanently lost family photos and other precious digital possessions. [WSJ]
- Why Airplane Seats Are So Uncomfortable and How to Improve Them: Economy airplane seats push many passengers into positions that are uncomfortable and sometimes bad for their health. We spoke to an ergonomics expert about how to redesign airplane seats to support fliers better. [WSJ]
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