BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on January 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
SHORT SALE
By Staff Reporters
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DEFINITION: Short selling involves borrowing a security whose price you think is going to fall from your brokerage and selling it on the open market. Your plan is to then buy the same stock back later, hopefully for a lower price than you initially sold it for, and pocket the difference after repaying the initial loan.
Tesla’s stock plummeted more than 12% yesterday for its worst trading session in more than two years. The proximate cause: Though the EV manufacturer sent out a record 405,278 vehicles in the last quarter of 2022, it missed analyst expectations and its own growth goal for the year.
Tesla’s brutal selloff was the continuation of a dramatic downward trend: The most valuable automaker in the world lost 65% of its value in 2022.
And while it may be easy to pin the blame on CEO Elon Musk’s fascination with his shiny new toy, Twitter, the problems go beyond a distracted boss:
Production has slowed down due to Covid shutdowns in China.
Demand has cooled for its vehicles due to lower gas prices, interest rate hikes, and increased competition.
It has suffered from logistical issues that were at least partially to blame for its inability to deliver all of the vehicles that it produced.
Posted on January 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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U.S. equities gave up early gains and finished lower on the first trading session of the year. Today’s movement followed the long holiday weekend, and the end of 2022, which posted the worst yearly decline since 2008. Equity news was light to begin the new year, but Tesla’s shares fell after the company missed on Q4 delivery expectations due to ongoing logistical issues, growing demand concerns, and stiff competition.
Several economic reports were released after the opening bell, as a read on domestic manufacturing activity remained in contraction territory, while construction spending unexpectedly rose in December.
Treasury yields fell and the U.S. dollar rallied, while crude oil prices lost solid ground, and gold was higher.
Finally, Asian stocks finished mixed, and markets in Europe rose, as the international markets digested a host of PMI reports, German inflation data, and the recent rise in China’s COVID cases.
Posted on January 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
There are several types of mental illnesses, but the list below will provide an overview. These categories are also helpful in understanding a person with a particular ailment. Knowing more about these conditions will help you develop more profound empathy for those with the same condition and hope that treatment will be available. The following […]
“Central bank money” refers to money that is a liability of the central bank. In the United States, there are currently two types of central bank money: physical currency issued by the Federal Reserve and digital balances held by commercial banks at the Federal Reserve.
While Americans have long held money predominantly in digital form—for example in bank accounts, payment apps or through online transactions—a CBDC would differ from existing digital money available to the general public because a CBDC would be a liability of the Federal Reserve, not of a commercial bank.
Posted on January 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Stocks are coming off their worst year since 2008 due to investors misjudging how high inflation would soar and the lengths central banks would go to bring it back down.
For example, Global equities lost a record $18 trillion in 2022 amid nearly 300 interest rate hikes from central banks around the world.
But not all stocks were clobbered equally by Jerome Powell and Co.: High-growth tech companies that got a boost from an era of low interest rates got rocked the most in what some are calling the sequel to the bursting of the dot-com bubble in 2000–01. The tech-heavy NASDAQ posted four straight negative quarters for the first time since that crash.
Others survived unscathed. The energy sector soared 59% last year thanks to a boost from surging oil prices. Exxon Mobil finished the year as the eighth-most valuable public company in the US, despite starting 2022 outside the top 25.
The Future?
No one really knows, but analysts generally think stocks will go sideways, weighed down by more rate hikes and a potential recession. The average Bloomberg projection for the S&P at the end of 2023 is 4,009 points (the index closed 2022 at 3,839.50).
Another down year would be extremely rare: The S&P has dropped for two consecutive years in just four instances since 1928.
Stock market holidays are non-weekend business days when the two major U.S. stock exchanges, the New York Stock Exchange (NYSE) and the NASDAQ, are closed for the day. These days often closely follow federal holiday schedules and include major holidays like Independence Day and Thanksgiving.
Regular operating hours for both exchanges are Monday-Friday from 9:30 a.m. – 4 p.m. ET. Markets do not operate during the weekend.
Sometimes, if a holiday falls on a weekend, stock markets will close on the Friday prior to the holiday, as is often the case with Good Friday and Easter. Other times, a holiday will be observed on a Monday after it occurs, like New Year’s Day taking place on Sunday, yesterday, in 2023.
Thus, it is a good time to catch up on you reading:
Posted on January 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
The Fed hikes interest rates, sending economy teetering toward a recession?
If everyone was an opinionated virologist in 2020, then 2022 turned us all into macro-economists. In an effort to fight historic inflation, the Fed raised its benchmark interest rate seven times this year, pushing it to a 15-year high. Chair Jerome Powell’s hawkish turn slowed the economy and was a major catalyst for the brutal sell-off in stocks, particularly in the tech sector. This year, Amazon became the first public company to lose $1 trillion in market value.
The U.S. housing market is experiencing its second-biggest home price correction of the post-World War II era. Macro Trends Advisors founding partner Mitch Roschelle attributed the massive correction to Americans’ uncertainty for the markets and their “uneasiness” regarding the economy. He explained on “Varney & Co.” that the “shoe to drop” would be if the nation starts to see a rise in unemployment, which could cause a “leg down” in the housing market.
Finis?
So what’s ahead for 2023? According to MorningBrew, Economists think that a recession is likely, but a few are holding out hope that the Fed can achieve a so-called “soft landing,” where it brings inflation down to normal levels without causing the economy to shrink. Recent months have brought cautiously hopeful news: Annual inflation has cooled from a peak of 9.1% to 7.1%, so rate hikes are expected to be much less aggressive next year.
Posted on December 31, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
NO SANTA CLAUSE RALLY THIS YEAR!
By Staff Reporters
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Tesla CEO Elon Musk’s net worth has shrunk by an astounding $140 billion, slashing his wealth to $130 billion as of 2022, according to the Bloomberg Billionaires Index. The sharp decline reflects the roughly 70% drop in Tesla stock this year, driven by investors swapping technology stocks for safer assets, worrying that running Twitter is a costly distraction for Musk, and fearing a US economic downturn and overseas headwinds will hit the automaker’s growth.
Meanwhile, Amazon founder Jeff Bezos’ wealth has fallen by $86 billion, while Alphabet cofounders Larry Page and Sergey Brin have seen their fortunes shrink by a combined $91 billion. Microsoft cofounder Bill Gates’ net worth has also tumbled by $29 billion, while former CEO Steve Ballmer has taken a $21 billion hit.
Similarly, Oracle cofounder and Tesla investor Larry Ellison has suffered a $17 billion blow to his fortune, while Warren Buffett’s wealth has only dropped by $3 billion. The eight Americans, along with LVMH’s Bernard Arnault, Adani Group’s Gautam Adani, and Reliance Industries’ Mukesh Ambani, hold the top 11 spots in Bloomberg’s global wealth rankings.
Posted on December 31, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Tesla stock is on pace for its worst year on record as trading in 2022 comes to a close. Shares have lost about 65% from the start of the year. CEO Elon Musk has faced pressure from investors over his preoccupation with Twitter.
The S&P 500 closes out dismal year with worst loss since 2008
And, the U.S. dollar surrendered its status as the world’s premier safe haven in Q4. Central banks in Europe and — more recently — Japan applied a more aggressive monetary policy, signaling that they intend to close the gap with higher U.S. yields created by the Federal Reserve. This helped to drive their currencies higher. At the same time, investors in the U.S. were betting that the Fed’s campaign of interest rate rises was drawing nearer to its end. This resulted in the euro rising roughly 8.8% against the dollar, its biggest quarterly gain since 2010, according to Dow Jones Market Data.
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Finally, U.S. equities closed out 2022 in the red, and all three major indexes registered solid losses on a yearly basis. The stock market posted its worst yearly decline since 2008. Trading remained subdued in the final days of the year as volumes continued to be on the lighter side. Equity news remained in short supply, but Southwest Airlines continued to be in the headlines after saying its latest troubles will affect Q4 results.
The economic calendar was also relatively quiet, with today’s lone report showing a surprising rebound in manufacturing activity in the Chicago region.
Treasury yields gained ground, and the U.S. dollar declined, while crude oil prices rose, and gold was slightly higher.
Asian stocks finished out the year mixed in thin trading, and markets in Europe saw widespread losses, with the region posting the worst year since 2018.
Posted on December 31, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Centene Corporation showers politicians with millions as it courts contracts and settles over-billing allegationsby Samantha Young, Andy Miller, and Rebecca Grapevine (Kaiser Health News)
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Somehow KHN made Medicaid over-billing sound sexy.
This deep dive into Centene, “the nation’s largest private managed-care provider for Medicaid,” shows how the company has maintained good relationships with politicians as it looked to keep its market share and settle over-billing allegations.
Posted on December 30, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Ann Miller RN MHA CMP®
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About the Institute of Medical Business Advisors, Inc
The Institute of Medical Business Advisors, Inc provides a team of experienced, senior level consultants led by iMBA Chief Executive Officer Dr. David Edward Marcinko MBA CMP™ MBBS [Hon] and Ann Miller RN MHA CMP™ to provide ongoing contact with our clients throughout all phases of each project, with most of the communications between iMBA and the key client participants flowing through this Senior Team. iMBA Inc., and its skilled staff of certified professionals have many years of significant experience, enjoy a national reputation in the healthcare consulting field, and are supported by an unsurpassed research and support staff of CPAs, MBAs, MPHs, PhDs, CMPs™, CFPs® and JDs to maintain a thorough and extensive knowledge of the healthcare environment. The iMBA team approach emphasizes providing superior service in a timely, cost-effective manner to our clients by working together to focus on identifying and presenting solutions for our clients’ unique, individual needs.
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The iMBA Inc project team’s exclusive focus on the healthcare industry provides a unique advantage for our clients. Over the years, our industry specialization has allowed iMBA to maintain instantaneous access to a comprehensive collection of healthcare industry-focused data comprised of both historically-significant resources as well as the most recent information available. iMBA Inc’s specific, in-depth knowledge and understanding of the “value drivers” in various healthcare markets, in addition to the transaction marketplace for healthcare entities, will provide you with a level of confidence unsurpassed in the public health, health economics, management, administration, and financial planning and consulting fields. iMBA Inc’s information resources and network of healthcare industry textbook resources enhanced by our professional consultants and research staff, ensure that the iMBA project team will maintain the highest level of knowledge regarding the current and future trends of the specific specialty market related to the project, as well as the healthcare industry overall, which serves as the “foundation” for each of our client engagements.
Considered for years to be a “duopoly” over the advertising industry, they are on track to account for only 48.4% of US ad revenues this year. It’s the first time their market share has fallen below 50% since 2014, per Insider Intelligence.
Posted on December 30, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 225,000 for the week ending December 24th, the Labor Department reported, in line with the median estimate among economists polled by Reuters. Meanwhile, the number of people receiving benefits after an initial week of aid rose 41,000 to 1.710 million in the week ending December, 17th, 2022.
Meanwhile, Amazon stock closed the December 22 trading session at $83.79, which represents a 49.7% drop compared to December 31, 2021. This is the lowest closing level for the Amazon stock since March 12, 2019. Basically, the group, founded by Jeff Bezos, has completely erased all the gains during the two years when strict restrictions were put in place to limit the spread of COVID-19. It closed today at $84.18.
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Finally, U.S. stocks rose sharply, ending a two-session losing streak, though trading volumes remain subdued in the final days of the year. The heavyweight Information Technology sector led the rally, rebounding from a recent drop that has weighed on the markets this week. The equity front continued to offer little in terms of headlines, though shares of Cal-Maine Foods fell after the company missed earnings estimates.
The economic calendar introduced labor data, as jobless claims ticked slightly higher compared to the prior week.
Treasury yields were mixed, the U.S. dollar dropped, crude oil prices were lower, and gold traded higher.
Asian stocks finished mostly lower after yesterday’s downturn in the U.S., while markets in Europe were higher despite uncertainty regarding the ultimate global impact of aggressive monetary policy tightening across the world.
On December 6, 2022, the Centers for Medicare & Medicaid Services (CMS) proposed a modernization of the prior authorization process for health insurance. The proposed rule seeks to require certain insurers to implement electronic prior authorization, shorten decision timeframes, and make the process more transparent and efficient.
The rule includes “five key provisions and five Requests for Information,” aiming to “improve patient and provider access to health information and streamline processes related to prior authorization for medical items and services.” This Health Capital Topics article will review those provisions and requests for information, as well as stakeholder responses to the proposals. (Read more…)
Posted on December 29, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Popular money manager Cathie Wood of Ark Investment Management has seen her young-technology-stock funds hit the skids this year amid weak earnings. Her Ark Innovation ETF (ARKK) – Get Free Report has lost 68% in 2022 and is down 81% from its February 2021 peak. The Ark chief executive has defended her strategy by noting that she has a five-year investment horizon. But the five-year annualized return of Ark Innovation totaled a negative 2.66% through Dec. 26, against the S&P 500’s positive return of 9.38%. The fund’s performance also doesn’t come close to Wood’s goal for annualized returns of 15% over five-year periods.
U.S. equities finished lower, adding recent losses with the markets approaching year-end. The moves came amid lighter volume in the waning days of a dismal 2022, with the equity front offering little in terms of news. However, Southwest Airlines continues to be troubled by mass flight cancellations.
The economic calendar delivered another drop in pending home sales, while Richmond manufacturing activity unexpectedly moved into expansion territory.
Treasury yields were mixed after yesterday’s solid gains, and the U.S. dollar was slightly higher. Crude oil prices fell, and gold pulled back from Tuesday’s rise.
Asia finished mixed and Europe also diverged as the global markets wrestled with China’s reopening and uncertainty regarding the ultimate impact of aggressive monetary policy tightening across the globe.
Posted on December 28, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
SUSPICIOUS AFFINITY MARKETING?
By Staff Reporters
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DEFINITION: Affinity marketing is a concept that consists of a partnership between a company and an organization that gathers persons sharing the same interests to bring a greater consumer base to their service, product or opinion. This partnership is known as an affinity group.
So, after the collapse of Sam Bankman-Fried’s crypto exchange FTX, a number of celebs who had acted as ambassadors for the company were named as defendants in a class-action suit against it.
Comedian and Seinfeld creator Larry David, Tampa Bay Buccaneers quarterback Tom Brady, and basketball stars Shaquille O’Neal and Stephen Curry were likely trading lawyer recommendations in the A-lister group chat.
Posted on December 28, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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U.S. equities were mixed on the first trading session of the week following the long holiday weekend. The markets reacted to a host of economic data that was released, as home prices decreased on a seasonally adjusted basis, the trade deficit narrowed much more than expected, wholesale inventories increased, and manufacturing activity in the Dallas region contracted more than predicted.
Equity news was light, but shares of Southwest Airlines declined after the U.S. Department of Transportation said that it would examine the mass flight cancellations and delays. Additionally, Tesla’s shares fell after the company announced that it plans on running a reduced production schedule at its Shanghai factory.
Treasury yields continued to rise, and the U.S. dollar dipped, while crude oil prices were little changed, and gold was solidly higher.
Asian equities increased, led by mainland Chinese stocks, after the Chinese government announced that it would put an end to quarantine restrictions for inbound travelers effective early January.
Markets in Europe were mixed amid improved sentiment in the wake of the news.
Posted on December 28, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By SMART ASSET
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If shrinking your tax liability is high on your list of priorities, a few states stand out. The winners in the list below either have no state income tax, no tax on retirement income, or a substantial discount on the taxes levied on retirement income. But that’s just the start.
While several additional states have no state income tax, the states that made our list also have favorable sales, property, inheritance, and estate taxes.
Alaska
Florida
Georgia
Mississippi
Nevada
South Dakota
Wyoming
If those seven locations aren’t ideal, consider the next tier of tax-friendly states. Tax benefits aren’t quite as high as those above, but they do stand out in one specific category: no taxes on social security income.
That’s not to say they don’t make up for it in other areas, however. Washington State, for example, has no state income tax, but does have a 6.5% state sales tax. Still, it’s always beneficial to avoid income tax when possible.
Posted on December 27, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Value of a $1,000 investment in Microsoft’s IPO today
Microsoft completed its initial public offering (IPO) on March 13, 1986, at a price of $21 per share. Since then, the company has grown so valuable, and its stock price has soared so high, that management opted to conduct nine stock splits over time to ensure its shares remained accessible to small investors.
Had you invested $1,000 in Microsoft at its IPO, you would have acquired 47 shares at $21 per share. Adjusting for the stock splits, you’d actually have 13,536 shares today with a cost basis of $0.0729 per share.
Given Microsoft now trades at $238.73 per share, that translates to a return of 327,401%.
In dollar terms, that $1,000 investment in 1986 would be worth a whopping $3.23 million today. But it gets better, because Microsoft has paid a dividend since 2003 — and assuming you never sold a single share along the way, you’d have also received $341,513 in dividends.
Given Microsoft continues to pay a quarterly dividend of $0.68 per share, you would still be collecting a cool $36,817 each year, or 36 times your initial $1,000 outlay. That’s the power of long-term investing.
On December 20, 2022, the U.S. Congress announced its deal to fund the federal government through 2023, averting an imminent government shutdown. The 4,155-page, $1.7 trillion spending bill spans a vast array of funding initiatives and other bipartisan measures, including a number of noteworthy healthcare provisions.
Perhaps most significantly, Congress intervened in the impending cuts to the Medicare Physician Fee Schedule (MPFS), overriding some, but not all, of the payment reductions. This Health Capital Topics article will discuss the congressional measures to ameliorate the payment cuts to physicians in 2023, as well as the other healthcare provisions included in the omnibus spending bill. (Read more…)
Posted on December 27, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Since Christmas Day [Sunday], the U.S. stock markets were closed on Monday, December, 26th, 2022.
OPENTODAY!
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Nevertheless, nearly 125,000 employees lost their jobs this year as more than 120 large U.S. tech companies, banks and manufacturers implemented massive rounds of layoffs, according to the Forbeslayoff tracker, which documented major cuts (over 100) beginning in June when recession fears began to surge.
That’s a troubling figure for what had been one of the economy’s strongest growth sectors, but economists don’t expect it to spell doom for other industries. Even as tech companies downsized, the broader labor market remained strong throughout the year, with the unemployment rate ticking up slightly, to just 3.7% as of November.
The bargain-hunting value style is looking for shares that are under priced in relation to the company’s future potential. A value investor will invest in a company in the expectation that its shares will increase in value over time. Value investing is based essentially on quantitative criteria; asset values, cash flow, and discounted future earnings. The key properties of value shares are low Price/Earnings, Price/Sales ratios, and normally higher dividend yields.
So, on observing a company’s earnings growth, a value manager will decide whether to buy shares based on the company’s consistency or recovery prospects. The key research questions are: 1) Does the current P/E ratio warrant an investment in a slow growth company or, 2) Is the company a higher growth candidate that has dropped in price due to a temporary problem. If this is the case, will the company’s earnings growth recover, and if so, when? The key to value investing is to find bargain shares (priced low historically or for temporary and/or irrational reasons), avoiding shares that are merely cheap (priced low because the company is failing).
The buying opportunity is identified when a company undergoing some immediate problems is perceived to have good chances of recovery in the medium to long term. If there is a loss in market confidence in the company, the share price may fall, and the value investor can step in. Once the share price has achieved a suitable value, reflecting the predicted turnaround in company performance, the shareholding is sold, realizing a capital gain. A potential risk in value investing is that the company may not turn around, in which case the share price may stay static or fall.
Tax-loss harvesting is a strategy to lower investment taxes that involves selling securities at a loss to offset capital gains. BofA said investors in the past week also pulled out $10 billion from bonds.
Amazon.com Inc. has erased more shareholder wealth than any other publicly traded company in 2022. In total, investors in Amazon have lost $804.6 billion this year. The stock is down 48% in 2022.
Apple Inc. and Microsoft Corp. have also suffered larger market-cap declines than Tesla, by virtue of their sheer size.
Posted on December 25, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The House passed, and President Biden later signed, a $1.7 trillion spending bill that will fund the federal government through FY 2023 and do a lot more—like send $45 billion to Ukraine and NATO allies and offer $40 billion in US disaster relief.
Happy Holidays from the Institute of Medical Business Advisors, Inc
At this special time of year, we give thanks for our clients and our employees, as well as all essential workers in hospitals, health centers and medical practices across the country.
May the holiday spirit be with you and your family throughout the season and everyday We look forward to serving you in 2024.
Posted on December 24, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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he emerging Omicron subvariant XBB contributes to an increasingly high number of COVID-19 cases in the U.S., rivaling the sister strains BQ.1.1 and BQ.1, according to the latest estimates from the Centers for Disease Control and Prevention (CDC).
Recent studies have indicated that the updated bivalent COVID-19 booster performed poorly against BQ.1.1, with even a weaker antibody response against XBB.
In late November, citing its poor neutralization effect on BQ.1 and BQ.1.1., the FDA pulled the emergency use authorization granted for bebtelovimab, a COVID-19 antibody therapy developed by Eli Lilly (LLY) and AbCellera Biologics (ABCL).
The CDC estimates for the week ending Dec. 24 show that XBB has made up ~18% of COVID cases in the U.S. compared to ~11% a week ago. Meanwhile, BQ.1.1 has led to ~36% of cases unchanged from a week ago, and BQ.1 caused ~27% of cases, a decline from ~29% last week.
Posted on December 24, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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You don’t have to sign all the forms to be treated
Part of being a patient is signing stacks of forms, most of which you barely read much less understood. This is a mistake, Charlotte O’Leary says. Look for any “blank check” clauses on intake forms—it’s the part that reads, “I will be responsible for all costs not covered by insurance.”
Instead, Charlotte Hilton Andersen, MS recommends crossing it out and writing, “I will be responsible for all costs that are medically necessary, that are not the responsibility of my insurer, are competitively priced, and that I am made aware of prior to treatment if they are not part of standard operating procedures.”
Posted on December 24, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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IRS pauses rule requiring people to report PayPal, Venmo transactions over $600. To avert taxpayer confusion in the upcoming tax season, the IRS is delaying a rule that would have required e-commerce sites and payment platforms like eBay Etsy and PayPal to send out tax paperwork to a much wider swath of people in 2023.
And, U.S. equities ended the day higher and the week mixed. The S&P 500 and NASDAQ posted a third-straight week of losses, while the Dow was able to buck the trend by posting a weekly gain. The moves came amid a day full of economic reports that offered varying results. Personal income rose slightly, and the Fed-favored inflation gauge showed continued moderation, new home sales surprisingly rose, and consumer sentiment was revised higher.
However, durable goods orders fell noticeably, and personal spending came in softer than expected. Treasury yields were higher, and the U.S. dollar was lower, while crude oil and gold prices traded to the upside. News on the equity front was in short supply, but Meta Platforms garnered attention after it agreed to settle a class action lawsuit for $725 million.
Finally, Asian stocks finished lower amid some disappointing data out of Japan, while markets in Europe diverged heading into the long holiday weekend.
Posted on December 23, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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U.S. stocks plunged as December’s sell-off intensified after a fleeting rally in the previous session. The S&P 500 (^GSPC) closed down 1.4% after dropping as much as 2.8% in afternoon trading, while the Dow Jones Industrial Average (^DJI) shed 350 points, or 1%. The technology-heavy NASDAQ Composite (^IXIC) tumbled 2.2%.
And, the markets continued to contend with the ultimate impacts of aggressive monetary policy tightening globally. Earnings reports disappointed, as Micron Technology and CarMax both missed earnings estimates and lowered their guidance. A host of economic reports were released, as jobless claims came in below estimates, which seems to play into the theme of a tight labor market that has dampened investor sentiment.
Additionally, Q3 GDP and Personal Consumption were revised higher, the Leading Economic Index declined more than anticipated, and manufacturing activity in the Kansas City region fell further into contraction territory.
Treasury yields were mixed, and the U.S. dollar ticked higher, while crude oil and gold prices lost ground.
Asian stocks diverged and markets in Europe ended lower as the international markets continued to digest recent central bank actions.
Moreover, Micron Technology will reduce its workforce by 10% next year and take other cost-cutting measures as the computer memory chip maker struggles to deal with too much supply amid a drop in demand. Micron CEO Sanjay Mehrotra announced the restructuring during during a quarterly conference call with investors, noting that prices for computer memory products had “deteriorated significantly” in recent months, Boise television station KTVB reported.
Posted on December 22, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Vitaliy Katsenelson CFA
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The stock market bubble that I’ve been writing about for the last few years is finally bursting. For the first time in almost a decade, it feels like common sense has stopped being a painful headwind and is turning into a tailwind.
Paying any price for the stocks of companies that were growing revenues but had no hint of profitability and were diluting shareholders by giving away 10% of shares in stock-based compensation every year is an approach that has stopped working.
Investors are discovering that the price you pay matters, eventually. Many of these companies are down 70-80% from their highs and are still expensive.
Rising interest rates are making value investing great again!
Posted on December 22, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
As I read Predictably Irrational by Dan Ariely, I found his ideas not only enlightening to understand my own predictable irrationality but also to think through ideas on motivation and change management for our teams. 1️⃣ Context matters – we find it hard to understand things in absolute terms so explain value in relative terms […]
Posted on December 22, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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U.S. equities posted solid gains, adding to yesterday’s advance, amid some upbeat earnings results and economic data. Dow member Nike rallied after easily topping profit projections and raising its full-year revenue outlook, while FedEx rose after exceeding earnings estimates and announcing a larger-than-expected outlook for cost reductions.
Treasury yields were mixed, and the U.S. dollar traded to the upside, while crude oil prices were higher, and gold slipped.
In economic news, Consumer Confidence unexpectedly jumped to an eight-month high, while housing data showed existing home sales dropped more than expected, and mortgage applications rose for a second-straight week.
Asia finished mixed as the markets continued to digest yesterday’s surprising policy move from the Bank of Japan, and Europe was noticeably higher, rebounding from some recent choppiness that has come from monetary policy tightening actions on both sides of the pond.
Posted on December 22, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Darrell K. Pruitt DDS
Digital security and the ADA
I wrote the following letter four years ago today. Neither The Digital Dental Record nor its sponsor, The American Dental Association, responded. In fact, a few years later, The Digital Dental Record was predictably hacked and more than 500 dentists, including many ADA members, were victims of a breach of the ADA’s favored digital record system. The ADA is still silent, but they did however, terminate their business relationship with The Digital Dental Record.
Dear The Digital Dental Record,
Thanks for your response on Linkedin to my concerns about the security of EHRs compared to paper. To be honest with you, I’m pleasantly surprised. Contrary to the norm of what I consider an open and free market, very few vendors in the dental IT industry seem willing to openly discuss the dangers or cost of software they hope to sell to dentists – who obviously don’t ask the right questions. That is why I respectfully decline your offer of a private telephone conversation.
You know my name is Darrell Pruitt because it heads my post. I never hide it. Whoever you are, you should probably show potential customers the respect of accountability through transparency. After all, The Digital Dental Record is the only EHR system endorsed by the ADA. I hope that still stands for something of value.
If you have any non-anecdotal evidence on which you base your bold claim that DDS Safe R2 is more secure than paper dental records, please share it. I’ll be transparent: Nobody believes you. Then again, maybe “Luddites” who question the security of digital records are simply wrong. Here’s your chance to show the nation why the ADA chose to endorse The Digital Dental Record above all other electronic dental record systems.
Posted on December 21, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
SEASONAL AFFECTATION DISORDER
Out … Like a Light!
DST: Daylight saving time, also known as daylight savings time or daylight time, and summer time, is the practice of advancing clocks during warmer months so that darkness falls at a later clock time.
BUT – Do you have trouble fitting daylight into your winter lifestyle? Or, have difficulty seeing medical patients, making hospital rounds, or serving consulting or financial advisory clients? Maybe it’s SAD?
But, how do you cope with the long dark, days of December and January?
To raise awareness of SAD, First Choice has brought together statistics from sources such as SADA, SAD.org.uk, Bupa and the Mood Disorders Society of Canada to create this new infographic.
In it you can find out how much daylight office workers receive year-round, as well as a collection of facts that can help you recognize and treat SAD. With December and the winter solstice drawing in we are certainly in for some short days in the coming weeks.
Conclusion
And so, your thoughts and comments on this ME-P are appreciated. Regardless of occupation, how do you cope with SAD?
Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
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Posted on December 21, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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DEFINITION: Retail pharmacist work in a retail setting rather than in a hospital. They are responsible for dispensing and controlling both prescription and non-prescription medicine, advising customers on general healthcare and must work to high legal and ethical guidelines.
Today, retail pharmacies across the board are struggling to hire and retain enough pharmacists and pharmacy technicians to keep up with the increased pandemic-related demand for vaccinations and prescriptions. On top of that, pharmacist burnout has prompted companies like Walgreens to reduce the workloads of their employees.
The stakes are high. A decline in pharmacy school enrollees and a seemingly tight job market for those graduates makes it hard to replace departing staff.
“One of the challenges in healthcare in general is that it has been a difficult couple of years for those working in this industry. And pharmacy isn’t immune to that,” said Nate Shenck, a managing director and senior partner at Boston Consulting Group.
To tackle the worker shortage, Walgreens announced it would invest $265 million in its pharmacy staff in FY 2023. Those funds are earmarked for raises, additional training and career development opportunities, and larger scholarships for pharmacy students, Erin Loverher, a spokesperson at Walgreens, said via email.
PS:Some retailers, such as CVS and Kroger, are limiting the sale of children’s pain relievers. Demand for pediatric pain meds has spiked due to the “tripledemic” of respiratory illnesses spreading right now.
Posted on December 21, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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According to Wikipedia, the winter solstice, also called the hibernal solstice, occurs when either of Earth‘s poles reaches its maximum tilt away from the Sun. This happens twice yearly, once in each hemisphere (Northern and Southern). For that hemisphere, the winter solstice is the day with the shortest period of daylight and longest night of the year, when the Sun is at its lowest daily maximum elevation in the sky. Either pole experiences continuous darkness or twilight around its winter solstice. The opposite event is the summer solstice.
The winter solstice occurs during the hemisphere’s winter. In the Northern Hemisphere, this is the December solstice (usually 21st or 22nd December) and in the Southern Hemisphere, this is the June solstice (usually 20th or 21st of June). Although the winter solstice itself lasts only a moment, the term also refers to the day on which it occurs. The term midwinter is also used synonymously with the winter solstice, although it carries other meanings as well. Traditionally, in many temperate regions, the winter solstice is seen as the middle of winter; although today in some countries and calendars it is seen as the beginning of winter. Other names are the “extreme of winter” (Dongzhi), or the “shortest day”.
Since prehistory, the winter solstice has been a significant time of year in many cultures and has been marked by festivals and rituals. It marked the symbolic death and rebirth of the Sun; the gradual waning of daylight hours is reversed and begins to grow again. Some ancient monuments such as Newgrange, Stonehenge, and Cahokia Woodhenge are aligned with the sunrise or sunset on the winter solstice.
Posted on December 21, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The Winter Solstice, or the December Solstice, is the point at which the path of the sun in the sky is farthest south. At the Winter Solstice, the sun travels the shortest path through the sky resulting in the day of the year with the least sunlight and therefore, the longest night.
Telehealth extension: Tucked in the new Congress’ spending bill is an extension of HHS rules that made telehealth more accessible during the pandemic. But the provision, which extends the flexibility through the end of 2024, falls far short of a push from some lawmakers who wanted to make that flexibility permanent.
Traditional guidance says not to spend more than 4% of your retirement savings in the first year to protect yourself from running out of money in your golden years. A new recommendation puts that figure at 3.8% with a 30-year time horizon, according to researchers at Morningstar Inc., a half-point higher than the 3.3% withdrawal they recommended in 2022 due to expectations for lower future investment returns. That means if you retire this year with a $640,000 portfolio invested 50% in stocks and 50% in bonds, you should take out no more than $24,320 in 2023.
U.S. equities finished higher in choppy action, posting the first gains in four sessions, as investors digested a host of monetary policy decisions from central banks in Asia. The Bank of Japan and People’s Bank of China kept their respective benchmark interest rates unchanged, but the former surprisingly tweaked its yield curve control policy.
Equity news was on the light side today, as General Mills beat earnings estimates and raised its full-year guidance, and shares of Steel Dynamics gained ground after it was announced that it would replace ABIOMED in the S&P 500.
On the economic front, housing starts declined less than anticipated, while building permits fell much more than expectations. Treasury yields rose, particularly on the long end of the curve, while the U.S. dollar fell, crude oil prices saw a modest increase, and gold prices rallied.
Asian stocks finished broadly lower and market in Europe diverged amid the host of monetary policy decisions.
Posted on December 20, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
On the Need for Coaching Medical Professionals
Like some other folks, doctors may benefit from having an objective, outside consultant or coach advise them on how to maximize their medical practice and/or personal performance.
In fact, it’s becoming a popular service, particularly as the ACA, market volatility, heightened insurer and patient demands, and profit pressures are challenging physicians in ways that may not be familiar to them.
But, not all coaches are created equal. What is a coach? What are the risks and benefits? Is this a real need or perceived marketing ploy in a time of tumult?
Q: And so, should doctors hire a performance coach?
Conclusion
And so, your thoughts and comments on this ME-P are appreciated. Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com
Subscribe Now: Did you like this Medical Executive-Post, or find it helpful, interesting and informative? Want to get the latest ME-Ps delivered to your email box each morning? Just subscribe using the link below. You can unsubscribe at any time. Security is assured.
Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.
Posted on December 20, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Know Your Customer (KYC) guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fit within the broader scope of a bank’s anti-money laundering (AML) policy.
KYC processes are also employed by companies of all sizes for the purpose of ensuring their proposed customers, agents, consultants, or distributors are anti-bribery compliant, and are actually who they claim to be. Banks, insurers, export creditors, and other financial institutions are increasingly demanding that customers provide detailed due diligence information.
Initially, these regulations were imposed only on the financial institutions but now the non-financial industry, fintech, virtual assets dealers, and even non-profit organizations are liable to oblige.
Posted on December 20, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Sovereign wealth funds could be selling roughly $29 billion in equities by the end of December. Meanwhile, U.S. defined benefit pension plans would need to shift up to $70 billion from equities to bonds to hit their targets, reports Bloomberg quoting the JPMorgan estimates. “The recent equity market correction and bond rally are consistent with the rebalancing hypothesis,” Bloomberg quoted Vincent Deluard, a macro strategist at StoneX.
DEFINITION: A sovereign wealth fund, sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally.
And, in a recent interview with CNN, Bank of America CEO Brian Moynihan said he’s concerned the housing market will continue to challenge buyers in the coming years. Moynihan pointed to sky-high mortgage rates as a big reason buyers might continue to struggle — especially first-time buyers with more limited financial resources. Moynihan also said there could be two more years of pain in the housing market before things cool off and homes become more available and affordable. And that’s a tough pill to swallow.
Finally, U.S. stocks were lower, adding to last week’s declines, as the global markets continued to grapple with the ultimate impact of aggressive monetary policy tightening around the world. Last week, the Fed, European Central Bank, Bank of England, and Swiss National Bank all increased their benchmark interest rates by 50 basis points, fostering recession concerns.
Treasury yields traded higher, and the U.S. dollar was unchanged, while crude oil gained ground, and gold was lower.
Other equity news was light, as L3Harris Technologies announced an agreement to acquire Aerojet Rocketdyne with an enterprise value of $4.7 billion, while shares of Madrigal Pharmaceuticals surged after positive trial results for its NASH and liver fibrosis treatment.
A busy week of housing data commenced, as the NAHB’s December Housing Market Index unexpectedly deteriorated.
Asia finished mostly lower as China’s COVID concerns weighed on sentiment, though European stocks were mostly higher, rebounding from last week’s decline as the global markets digest the recent rate hikes on both sides of the pond.
Posted on December 20, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Health Gorilla is in the business of health data interoperability and the double-backflip this startup is doing to both make clinical data an easily accessible commodity – while also making sure that access to that data adheres to the privacy rules established by the US government – takes a minute to understand, but is critically important for the future of many health tech businesses.
And, it’s not often that 10,000-plus like-minded individuals come together for a common cause. Luckily in the healthcare space, we have HLTH – bringing together the entire health ecosystem to focus on innovation and transformation.
Posted on December 19, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Here’s what Covid vaccines have to do with auto insurance
A new study of 11 million adults in Canada revealed that people who weren’t vaccinated against Covid were 72% more likely to get into car accidents where at least one person had to go to the hospital.
Now, that doesn’t mean your jab protects against car accidents, of course, but it does suggest that folks who reject public health recommendations might also reject road rules. The difference was striking enough that the researchers said doctors should discuss road safety with unvaccinated patients, and that car insurance companies might want to factor it into their rates.
Posted on December 19, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Laid off tech workers from Meta, Google and Twitter are being wooed by the federal government
Skilled tech workers laid off are in demand and the U.S. Department of Veterans Affairs wants to hire them.
The VA is looking to pay higher salaries than the agency had in the past and wants to make the hiring process easier. It’s banking on the mission of the agency to be a draw for talented tech workers.
Moreover, economic reports last week may have ushered in a new era for the stock market and some of these companies—one where investors are less concerned about inflation and more worried about an oncoming recession. Either way, there’s not a lot of hope on Wall Street right now and, barring a miracle, all three indexes will close out the year solidly in the red.
Finally, Tesla posted its worst week since March 2020 as investors increasingly call out Elon Musk for focusing his efforts on Twitter (but maybe that’s coming to an end…) In fact, Musk posted a poll asking users whether he should step down as the company’s chief executive (“I will abide by the results of this poll,” he said.) As of 5am ET, more than 57% voted “yes”—he should step down.
Posted on December 18, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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FTX’s New Chief Executive Officer?
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John J. Ray III (born January 1959) is an American attorney and insolvency professional. He specializes in recovering funds from failed corporations. He was appointed CEO of cryptocurrency exchangeFTX in the aftermath of its November 2022 collapse.
He previously served as chairman of Enron Creditors Recovery Corp., a company tasked with recovering creditor funds from Enron in the wake of its accounting scandal and subsequent collapse. He also worked on the bankruptcies of Nortel, Residential Capital, and Overseas Shipholding.
Posted on December 18, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Here are some of the companies the Yahoo Finance team suggests you watch?
Kraft Heinz (KHC) may be on the road to recovery. It announced stronger-than-expected earnings, with CEO Miguel Patricio saying that the company is making “good progress” on identifying the problems with its past performance. But he admitted they’re still delivering results “below our potential.”
Altria’s (MO) third-quarter earnings beat Wall Street estimates but the company revealed it is writing down a third of its investment in Juul. The company wrote-down $4.5 billion of its $12.8 billion investment in the vaping company. Juul is facing lawsuits and potential new regulations after an outbreak of vaping related illnesses.
Ford (F) and the UAW have reached an agreement to hold-off a strike. The new contract includes $6 billion worth of investment in U.S. facilities and adding 8,500 jobs to Ford’s workforce. This deal is expected to follow the same guidelines as the GM contract and include lump-sum payments and wage increases.
Former Secretary of State and Exxon Mobile (XOM) CEO Rex Tillerson is insisting that Exxon Mobile did not lie about the company’s plan for the financial risks of climate change. Tillerson testified for three and a half hours in the securities fraud trial in New York, denying that the company’s plans were meant to dupe investors. Exxon Mobile earnings are due out tomorrow before the opening bell.
Finally, it could be a very Merry X-mass for Hershey (HSY). A recent survey found Reese’s Peanut Butter Cups, made by Hershey, are the No. 1 favorite candy for Halloween. Snickers, made by privately-owned Mars, were a distant second. The National Retail Federation says Americans will spend $2.6 billion on Halloween candy this year.
Posted on December 18, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Last year, all hospitals were required to list their prices for elective services on an annual basis. Whether you have insurance or plan to pay cash – find and compare prices.
Posted on December 17, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
MORGAN STANLEY
BANK OF AMERICA
By Staff Reporters
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[The Scream is a composition created by Norwegian artist Edvard Munch in 1893]
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What [another] a week? U.S. equities declined, posting a second-straight weekly loss, as recession worries have ratcheted higher in the wake of a host of global central bank actions earlier this week. The Fed’s mid-week 50 basis point rate increase was followed by similar actions from the European Central Bank, the Bank of England, and Swiss National Bank. The moves came amid an evident slowdown in global economic growth, with data released today showing most manufacturing and services PMIs domestically and across the globe continue to see a contraction in activity, adding fuel to the recessionary fears.
RECESSION?
With U.S. stocks down more than 20% so far this year, investors are looking for some good news – and it may be coming from a prominent Wall Street analyst who says the current bear market could come to an end sometime around St. Patrick’s Day, 2023.
In an interview with Bloomberg Television, Mike Wilson, the Equity Strategist and Chief Investment Officer for Morgan Stanley predicted that the bear market in U.S. stocks could come to a conclusion early in 2023. Investors are taking note because Wilson, who’s typically skeptical about the market, is listed as No. 1 on Institutional Investor’s recent ranking of portfolio strategists.
WHEN?
“We think ultimately the bear market will be over probably sometime in the first quarter,” Wilson said on the broadcast.
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Mutual Fund managers have taken their cash positions to the highest level in 21 years, according to the long-running monthly survey of portfolio managers. Relative to the history of the survey, investors are 2.6 standard deviations overweight cash and 3 standard deviations underweight equities.
A net 72% expect a weaker economy in the next 12 months, and 91% say earnings are unlikely to rise 10% of more in the next year. A growing percentage are expecting a policy pivot: 28% expect lower short-term rates in the next 12 months, up from 14% in September.
The survey “screams macro capitulation, investor capitulation, and crucially start of policy capitulation,” said Bank of America strategists led by Michael Hartnett. The S&P 500 has dropped 23% this year, and S&P’s U.S. government bond index has declined by 12%.
Posted on December 17, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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U.S. equities declined, posting a second-straight weekly loss, as recession worries have ratcheted higher in the wake of a host of global central bank actions earlier this week. The Fed’s mid-week 50 basis point rate increase was followed by similar actions from the European Central Bank, the Bank of England, and Swiss National Bank. The moves came amid an evident slowdown in global economic growth, with data released today showing most manufacturing and services PMIs domestically and across the globe continue to see a contraction in activity, adding fuel to the recessionary fears.
Treasury yields diverged, and the U.S. dollar was little changed, while crude oil prices fell, and gold traded to the upside. The equity front was relatively quiet, but Adobe’s quarterly results beat the Street on the top line, and the company reaffirmed its guidance, while shares of Darden Restaurants fell despite posting better-than-expected earnings and an upbeat outlook.
Asian stocks were mixed and European stocks saw widespread losses, as the global markets continued to digest the flood of monetary policy decisions around the world.
Posted on December 16, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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DEFINITION: Pump and dump (P&D) is a form of securities fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price. Once the operators of the scheme “dump” (sell) their overvalued shares, the price falls and investors lose their money. This is most common with small-cap cryptocurrencies and very small corporations/companies, i.e. “microcaps“.
And so, Federal prosecutors and the SEC have accused seven popular Twitter and Discord users of wielding social media to manipulate stock prices—pumping the shares and then selling off mass quantities for profit once they rose.
An additional defendant, whose Twitter handle was @DipDeity, was charged with aiding and abetting the alleged fraud for hosting a podcast that featured and promoted the seven influencers as skilled traders to follow.
Each influencer charged had well over 100,000 followers and, according to the SEC, the group earned about $100 million total in the scheme.
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