Experts Invited | The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants

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While IAs and FAs may seem the same, they are not the same. The Financial Industry Regulatory Authority (FINRA) and the Securities Exchange Commission (SEC) have clearly defined investment advisors as distinct from financial advisors.

The term financial advisor is a generic one that can encompass many different financial professionals, although it most commonly refers to stock brokers (individuals or companies that buy and sell securities).

Investment advisor, on the other hand, is a legal term and thus has a more clear-cut definition – or at least as clear as legalese is apt to be.

KEY DIFFERENCES:

Financial advisors help with all aspects of your finances, including saving, budgeting, insurance, retirement planning, and taxes.
Investment advisors focus specifically on choosing and managing investment portfolios.
Financial advisors offer broader financial guidance, while investment advisors concentrate solely on investments.
Investment advisors are held to the fiduciary standard, while financial advisors who work as brokers may operate under different rules.

MORE: https://www.financestrategists.com/financial-advisor/advisor-types/investment-advisor/

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PRE-PROCUREMENT: Pre-Purchase Ownership

Posted on January 21, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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According to colleague Dan Ariely PhD, Pre-Procurement Ownership is when you start to feel ownership over something before you actually have it. It’s like mentally moving into a house or car before you’ve signed the papers and moved in or driven away

This psychological quirk makes us more likely to commit to purchases because we’ve already imagined them as ours. Marketers exploit this by encouraging us to “try before you buy.”

So, next time you’re trying on a new men’s suit or woman’s skirt, be aware: your brain might already be claiming ownership.

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DR. ANTHONY FAUCI: Pre-Emptively Pardoned

Posted on January 20, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

BREAKING NEWS

By Staff Reporters

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WASHINGTON: 8:15 am: The President Joe Biden administration just preemptively pardoned Anthony Fauci, MD.

“Our nation relies on dedicated, selfless public servants every day. They are the lifeblood of our democracy,” Biden said in a statement just hours before President-elect Donald Trump is sworn into office.

“The issuance of these pardons should not be mistaken as an acknowledgment that any individual engaged in any wrongdoing, nor should acceptance be misconstrued as an admission of guilt for any offense,” Biden said in a statement.

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EMBRACING Stock Market Stoicism

Posted on January 19, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Vitaliy Katsenelson CFA

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Embracing Stock Market Stoicism

2024 brought me back to a core Stoic principle that I hold close to my heart: the dichotomy of control. Here’s the gist: Some things are within our power—our values, our character, our decisions—and some aren’t—like your brother-in-law’s random (and possibly dumb) comment, your spouse’s mood, or the fact that every traffic light turns red right as you pull up.

In investing, it’s the same. We can control:

The quality of our research—being logical and thorough in our research
Our decisions and discipline—systematically following our research
Our reactions—how we react to the news and external environmental pressure (I will discuss this at the end of the letter)

The market can price our stocks however it pleases on a month-to-month—or even year-to-year—basis. That’s the part we can’t control. We have to remember that these market prices are merely opinions, not final verdicts. The Stoics teach us to focus our energy on what we can influence (our process) and accept what we can’t (the market’s whims).

This probably sounds straightforward, but there’s a twist that makes it harder for you, the client, to see how this all plays out in real time. You can easily check the portfolio’s value—my decisions, not so much. In theory, I could make subpar investments and hide behind fancy Stoic talk.

That’s exactly the why of these very detailed letters: to show you our thinking, walk you through our individual decisions. I write, you read—that’s our agreement. You’re the judge of whether my process makes sense. But I can’t do that part for you.

CONTINUE READING: https://investor.fm/embracing-stock-market-stoicism/?mc_cid=25f3bd9eb4&mc_eid=7a63a03234

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CPA versus CMA

Posted on January 18, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

Certified Public Accountant VERSUS Certified Managerial Accountant

By Staff Reporters

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The CPA and CMA designations cater to distinct professional focuses within the accounting and finance fields. A CPA is often seen as the gold standard for public accounting, emphasizing auditing, tax, and regulatory compliance. This certification is highly regarded for roles that require a deep understanding of financial reporting and external auditing. CPAs are frequently employed by public accounting firms, government agencies, and corporations that need to ensure their financial statements adhere to strict regulatory standards.

On the other hand, the CMA designation is tailored for professionals who aim to excel in management accounting and strategic financial management. CMAs are trained to analyze financial data to inform business decisions, focusing on internal processes and performance management. This makes the CMA particularly valuable for roles in corporate finance, strategic planning, and management consulting. Companies looking to optimize their internal financial operations and drive business strategy often seek out CMAs for their expertise in cost management, budgeting, and financial analysis.

The educational and experiential requirements for these certifications also differ. To become a CPA, candidates typically need to complete 150 semester hours of college education, which often includes a bachelor’s degree in accounting or a related field. Additionally, CPAs must pass the Uniform CPA Examination and meet specific state licensing requirements, which usually include a certain amount of professional experience.

In contrast, the CMA certification requires a bachelor’s degree in any discipline, two years of relevant work experience, and passing the two-part CMA exam. This flexibility in educational background can make the CMA more accessible to a broader range of professionals.

MORE: https://www.becker.com/blog/cpa/cma-vs-cpa-the-difference-between-cpa-and-cma

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ICE and Bank of America [BoA] Indices

Posted on January 18, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The ICE 3-Month USD LIBOR interest rate is the average interest rate at which a selection of banks in London are prepared to lend to one another in American dollars with a maturity of 3 months.

The Bank of America US High Yield Constrained Index is a market value-weighted index of all domestic high-yield bonds and Yankee high-yield bonds (issued by a foreign entity and denominated in U.S. dollars), including deferred interest bonds and payment-in-kind securities.

The ICE BofA BB-B US High Yield Constrained Index is composed of U.S. dollar-denominated corporate debt publicly issued in the U.S. market rated BB through B, based on an average of Moody’s, S&P and Fitch ratings, with issuer exposure capped at 2%.

ICE BofA U.S. Convertible Index tracks the performance of publicly issued, exchange-listed US dollar denominated convertible securities of US companies with at least $50 million face amount outstanding and at least one month remaining to the final conversion date. Index constituents are market capitalization-weighted and rebalanced monthly.

ICE BofA ML MOVE Index is a widely used measure of bond market volatility, similar to the VIX Index for stocks. The MOVE Index (also known as the Merrill Lynch Option Volatility Estimate) is a yield-curve-weighted index that tracks the market’s expectation of volatility in the U.S. bond market based on 1-month Treasury options.

ICE Exchange-Listed Preferred & Hybrid Securities Index tracks the performance of exchange-listed US dollar denominated hybrid debt, preferred stock and convertible preferred stock publicly issued by corporations in the US domestic market. Preferred stock and notes must have a minimum amount outstanding of $100 million; convertible preferred stock must have at least $50 million face amount outstanding. Index constituents are market capitalization-weighted subject to certain constraints. The index is re-balanced monthly.

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DAILY UPDATE: TikToc, Walgreens & Hindenburg Research All Down as Markets Blast Off

Posted on January 18, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants

“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“

A Partner of the Institute of Medical Business Advisors , Inc.

SPONSORED BY: Marcinko & Associates, Inc.

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WASHINGTON — The US Supreme Court on Friday delivered a blow to TikTok by upholding a law that could potentially lead to the video-sharing social media platform being banned in the United States. The justices in an unsigned opinion with no dissents rejected a free speech challenge filed by the company, meaning the law is set to go into effect on Sunday as planned. The bipartisan law requires China-based TikTok owner ByteDance to divest itself of the company by Sunday, the day before President-elect Donald Trump is to take office. If no sale takes place, the platform used by millions of Americans will in theory be banned.

Legendary short seller Nate Anderson announced this week that he is shutting down his firm, Hindenburg Research, due to extreme job stress. With only 11 employees, Anderson took gargantuan swings at companies—and their billionaire leaders. Hindenburg published deeply researched reports about companies it believed were overvalued and rife with corruption. It got its big break when it shorted electric truck-maker Nikola in 2020, calling the company an “intricate fraud.” Regulators took note, and it led to three fraud convictions for Nikola founder Trevor Milton.

CITE: https://tinyurl.com/2h47urt5

US stocks jumped on Friday amid a tech stock revival as investors assessed a week of key data and earnings reports alongside potential policy shifts under a Trump administration.

The Dow Jones Industrial Average (^DJI) gained 0.8% while the S&P 500 (^GSPC) rose 1%, coming off a losing day for the major gauges. The tech-heavy NASDAQ Composite (^IXIC) put on 1.5% as Nvidia (NVDA) and Tesla (TSLA) shares nudged back into the green.

The US Department of Justice (DOJ) filed a lawsuit against Walgreens (WBA), one of the nation’s largest pharmacy chains, alleging widespread prescription drug practice violations. According to the DOJ, Walgreens improperly dispensed millions of prescriptions from August 2012 to the present day that either lacked “legitimate medical purpose” or were otherwise invalid.

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PREMATURE CLOSURE: Cognitive Bias

Posted on January 17, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Premature Closure is the tendency to make quick, decisive judgments without considering all the evidence. It’s like jumping to conclusions on a trampoline – fast and often wrong. Our brains crave certainty and dislike ambiguity, leading us to close the case prematurely. This can save time but often results in mistakes and oversights. To avoid premature closure, take a step back, gather more information, and keep an open mind about this cognitive bias.

And so, colleague Dan Ariely PhD suggests that we remember: haste makes waste, especially in decision-making.

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BLOOMBERG: U.S. Universal Index

Posted on January 17, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Bloomberg U.S. Universal Index represents the union of the U.S. Aggregate Index, U.S. Corporate High Yield Index, Investment Grade 144A Index, Eurodollar Index, U.S. Emerging Markets Index, and the non-ERISA eligible portion of the CMBS Index.

The index covers USD-denominated, taxable bonds that are rated either investment grade or high-yield. Some Bloomberg U.S. Universal Index constituents may be eligible for one or more of its contributing sub-components that are not mutually exclusive. These securities are not double-counted in the index.

The Bloomberg U.S. Universal Index was created on January 1st, 1999, with index history back-filled to January 1st, 1990.

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JUNK: Rally Back?

Posted on January 16, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

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A Junk Rally is a general trend of out performance by companies that tend to score poorly along several dimensions, such as price-to-earnings (P/E) ratios, return on assets (ROA), balance sheet strength, levels of debt and volatility.

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DAILY UPDATE: Capital One, CPI and Medicare as Wall Street Blasts Off

Posted on January 16, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants

“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“

A Partner of the Institute of Medical Business Advisors , Inc.

SPONSORED BY: Marcinko & Associates, Inc.

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The U.S. Department of Labor reported a 0.4% increase in the monthly CPI after seasonal adjustment, overshooting the forecast of 0.3% and the previous value of 0.3%. On an annual basis, inflation climbed to 2.9%, up from 2.7% in November, the highest rate since July 2024.

US stocks ripped higher on Wednesday as high hopes for bank earnings paid off and a crucial consumer inflation update showed key prices increased less than expected in December.

The benchmark S&P 500 (^GSPC) popped more than 1.8%, while the Dow Jones Industrial Average (^DJI) rose more than 1.6%, or over 700 points. Meanwhile, the tech-heavy NASDAQ Composite (^IXIC) soared 2.5%.

Stocks took a leg higher after the Consumer Price Index (CPI) showed progress toward the Fed’s 2% inflation target in December. Prices climbed 0.2% month-on-month on a “core” basis, which strips out the more volatile costs of food and gas, an easing from November’s 0.3% gain. Over last year, core CPI rose 3.2%.

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Capital One is being sued by the US government’s consumer watchdog agency for “cheating millions of consumers” and not paying more than $2 billion in interest to holders of its high-interest savings accounts.

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As of January 1st 2025, beneficiaries enrolled in Part D prescription drug plans will have their out-of-pocket spending capped at $2,000 for the year. This new policy was part of President Joe Biden’s 2022 Inflation Reduction Act (IRA), which included other drug pricing measures such as capping the cost of insulin at $35 per month for seniors.

But only a small share of Medicare enrollees will benefit from the cap, according to an analysis from nonprofit organization AARP’s Public Policy Institute, as most don’t spend more than $2,000 annually on their medications after hitting their deductible (which is up to $590 for standard plans in 2025). Beneficiaries spent an average of $400 to $500 per year as of 2022, the Hill reported, citing data from the US Department of Health and Human Services (HHS).

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OPEN LETTER: MARCINKO Associates, Inc.

Posted on January 14, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

MISSION STATEMENT

Open Letter from the CEO

Dr. David Edward Marcinko MBA CMP™

ALL MEDICAL AND HEALTHCARE COLLEAGUES

Did you know that at MARCINKO & Associates, all medical colleagues throughout the United States may contact us when they are considering the sale, purchase, strategic operating improvement, merger, acquisition and/or other financial business or related personal financial planning transaction?

MORE: https://marcinkoassociates.com/welcome-medical-colleagues/

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Our difference is “hard” knowledge and insider financial guidance that helps medical colleagues, nurses, private practitioners, clinics, ambulatory surgery, radiology and outpatient wound care centers realize their ultimate economic goals. This typically includes managerial and cost accounting, financial ratio analysis, fair market valuation business appraisals, business plan creation and personal financial planning.

MORE: https://marcinkoassociates.com/fmv-appraisals/

Our “expert witness” business litigation support service and divorce mediation, arbitration, asset division, settlement and second opinion offerings are always available, as well.

MORE: https://marcinkoassociates.com/expert-witness/

And, our “soft” skill professional career guidance and mentoring center includes executive coaching, consulting and mentoring advisory programs for stressed, conflicted or burned-out physicians and medical practitioners.

COACHING: Careers

Most importantly, our professional fees are reasonable and always transparent.

MARCINKO & Associates also serves universities, medical, business, graduate and nursing schools; physicians, dentists, podiatrists, optometrists and legal societies. This includes accountants, financial service providers, wealth and hedge fund managers, emerging entities, hospitals, CEOs and their BODs, the press, media and related organizations.

MORE: https://marcinkoassociates.com/speaking-seminars/

Contact us for an educational white-paper on most any topic.

MORE: https://marcinkoassociates.com/case-studies/

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Now, please review our website to learn more.

And, always retain us when needed.

How May We Serve You?

DAVID EDWARD MARCINKO

email: MarcinkoAdvisors@msn.com

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EXPERT WITNESSES: What Exactly Are They?

Posted on January 12, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

SPONSOR: http://www.MARCINKOASSOCIATES.com

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At DE Marcinko & Associates an “expert witness” possesses specialized knowledge in a particular field and is qualified to provide deposition or testimony in court and under oath. This testimony can be based on their personal experience, education, training or research. The role of an expert witness is to provide objective and unbiased opinions, analysis, and insights to help a lawyer, judge and/or jury understand technical or complex issues related to the case.

An expert witness can be called by either the prosecution or the defense in a legal case. The expert witness may be required to provide a written report or affidavit detailing their opinions, analyses and conclusions, and they may be asked to testify in court to provide oral testimony and answer questions from the judge and lawyers.

READ HERE: https://marcinkoassociates.com/expert-witness/

MORE: https://medicalexecutivepost.com/2023/09/02/the-medical-expert-trial-witness/

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DEMAGOGUES: Value and Growth Stocks

Posted on January 12, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

SPECIAL REPORT

By Vitaliy Katsenelson CFA

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About Value & Growth Demagogues

You can listen to a professional narration of this article on iTunes & online.

I have a problem with both growth and value demagogues.

Growth demagogues will argue that valuation is irrelevant for high-growth companies because the price you pay for growth doesn’t matter. They usually say this after a very extended move in growth stocks, where these investors look like gods that walk on water. They call value investors “accountants.”

The price you pay matters (this is not a new message). As we’ve discussed in the past, if you bought great, high-growth companies near the end of the Nifty Fifty bubble in the 1960s or near the end of the dotcom bubble in the 1990s, it took more than a decade to break even (after first struggling through double-digit losses).

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SUPERSTITIONS: In Medicine?

Posted on January 11, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Dr. David Edward Marcinko MBA MEd

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Saying a patient’s name in the emergency room will almost ensure that person comes in that day.
A code cart next to an unstable patient is said to ward off evil spirits.
Traditional healers usually use superstition in their practices to manage human health problems and diseases.
Such practices create a conflict with the medical profession and its evidence-based practices.

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So, what exactly is a Superstition? Does superstition change a measurable patient outcome, such as decreased anastomotic leak rate, surgical site infection, or mortality? Hard to say. But does it improve the surgeon’s confidence, thereby improving their performance? Likely so.

Science is not the opposite of superstition; it is the result of superstition, the result of humans trying to make sense of the world and prove each other wrong. We keep doing the things we do to maintain some semblance of control. In further defense of superstition, ritualistic behaviors ensure that the necessary boxes are checked and that we pay attention to the details. In surgery, details matter.

“Superstition is the irrational belief that an object or behavior has the power to influence an outcome, when there’s no logical connection between them. Most of us aren’t superstitious – but most of us are a ‘littlestitious.’”
– Gretchen Rubin

So, until there is evidence to the contrary, I will keep tearing off the little patient labels and keeping their names with me in hopes that they do well after surgery.

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CHINA: Central Bank Ceases Bond Buying as Sell-Off in US Treasury Bonds Stokes Wage Inflation and Wall Street Begins Tanking

Posted on January 10, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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China’s 10-year bond yield plunged to a record low this month, while the Chinese currency [yuan] traded in Hong Kong on Wednesday hit its weakest against the U.S. dollar in more than a year.
The People’s Bank of China is “trying to cool down the market by suspending government bond buying,” said Larry Hu, chief China economist at Macquarie.
Cite: https://www.cnbc.com/2024/08/15/chinas-bond-market-intervention-reveals-financial-stability-worries.html?&doc=108084603

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And, the U.S. economy added a much larger-than-expected total of new hires last month, adding more upward pressure to wage inflation and likely stoking a further selloff in U.S. Treasury bonds.

The Bureau of Labor Statistics said 256,000 new jobs were created last month, well ahead Wall Street’s 164,000 forecast and the down-wardly revised 212,000 reading from November.

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Finally, Wall Street’s major averages are tumbling today as investors digested the hotter than expected jobs report. Early on and the S&P 500 (SP500) was -1.7%, the NASDAQ Composite (COMP:IND) was -2.2%, and the Dow (DJI) was -1.3%.

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SUSTAINABILITY Defined

Posted on January 9, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Sustainability focuses on meeting the needs of the present without compromising the ability of future generations to meet their needs. There are many different approaches to Sustainability, with motives varying from positive societal impact, to wanting to achieve competitive financial results, or both.

Methods of sustainable investing include active share ownership, integration of ESG factors, thematic investing, impact investing and exclusion among others.

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DAILY UPDATE: United Health Owned Insurance Fined and CFPB Hides Medical Debt as Nvidia Leads Stock Markets Down

Posted on January 8, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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Three UnitedHealth-owned insurance companies must pay over $165 million for misleading thousands of customers in Massachusetts into paying for additional health insurance, a state judge has ruled.

Nvidia stock (NVDA) tumbled more than 6% Tuesday, a day after shares closed at a record high in anticipation of CEO Jensen Huang’s keynote at the tech industry’s annual CES trade show in Las Vegas.

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Dow ends down nearly 180 points, NASDAQ tumbles 1.9% as Treasury yields surge after job-openings, ISM services data

The Biden administration’s Consumer Financial Protection Bureau (CFPB) issued a new rule Tuesday that will hide an estimated $49 billion in medical debt from credit reports. The rule, which is slated to affect 15 million Americans, prohibits the inclusion of medical bills on credit reports and bars creditors from using medical information in making lending decisions. The policy specifically targets national credit-reporting companies Equifax, Experian and Transunion, which provide detailed evaluations of consumer finances to banks, employers and landlords.

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WILLIAM JEVONS Efficiency Paradox

Posted on January 7, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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William S. Jevons Paradox suggests that increases in efficiency lead to even larger increases in demand; according to colleague Dan Ariely PhD.

The Jevons Paradox is when making something work better actually leads to using more of it, not less.

Imagine you have a really fast bike that makes you use less energy to speed up. Because it’s so good, you want to bike everywhere, even more than before. Now, even though your bike is better at saving energy, you end up using it so much that you may use even more energy overall

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CONFABULATION Bias

Posted on January 6, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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Confabulation Bias is the creation of false memories without the intent to deceive. Our brain fills in gaps, sometimes creating memories that feel real but are entirely fabricated.

According to colleague Dan Ariely PhD, this can happen especially when memory gaps are subconsciously filled to maintain coherence.

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MAURICE ALLAIS: Behavioral Finance Paradox

Posted on January 5, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Reporters

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For Question 1, people preferred Prospect A to prospect A , which means: (0.11) u( 1,000,000) > (0.10) u( 5,000,000) For Question 2, people preferred Prospect B to prospect B, which means: (0.10) u( 5,000,000) > (0.11) u( 1,000,000) Allais Paradox. shows that, individuals’ decisions can be inconsistent with Expected Utility Theory.

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Allais Paradox is a change in a possible outcome that is shared by different alternatives affects people’s choices among those alternatives, in contradiction with expected utility theory.

The Allais paradox is a choice problem designed by Maurice Allais 1953 to show an inconsistency of actual observed choices with the predictions of expected utility theory theory.

According to colleague Dan Ariely PhD, the Allais paradox demonstrates that individuals rarely make rational decisions consistently when required to do so immediately. The independence axiom of expected utility theory, which requires that the preferences of an individual should not change when altering two lotteries by equal proportions, was proven to be violated by the paradox.

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BULLET Bond Structure

Posted on January 4, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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A Bullet bond structure is a bond portfolio structure that clusters a portfolio’s bond maturities around a single maturity (usually an intermediate-term maturity).

This structure tends to perform best when the yield curve is moving from flat to steep (long-term rates are rising faster than short-term rates, or short-term rates are falling faster than long-term rates).

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DAILY UPDATE: Dental and Medical Record Data Breaches as Stocks Jump!

Posted on January 4, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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Nvidia stock (NVDA) led gains among the “Magnificent Seven” tech stocks to start the new year after a group-wide sell-off in the last days of 2024. Shares of the AI chip-maker rose 4.5% Friday after gaining roughly 3% the prior day.

Stat: 18. That’s how many dental data breaches there were in the US in 2024. (Becker’s Dental + DSO Review)

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Quote: “If your credit card gets compromised, your bank will alert you, cancel it and send you get a new one. But your medical records have a long lifespan. They can be misused without detection for long periods of time, because it’s harder to identify malicious activity. That makes them very valuable.”—Geetha Thamilarasu, associate professor at the University of Washington Bothell, on why hackers want healthcare information (the Wall Street Journal)

That upswing followed a 4% dip between Christmas Eve and New Year’s Eve as megacap tech stocks dropped across the board in the absence of a “Santa Claus” rally, where the stock market typically enjoys a surge between December 24th and January 2nd. Tesla (TSLA) stock plunged nearly 13% over that time frame, while Amazon (AMZN) and Microsoft (MSFT) dropped more than 4%. Meanwhile, Meta (META) and Google (GOOG) fell just under 4%, and Apple (AAPL) dropped 3%.

Even with its December decline, Nvidia shares still ended 2024 up more than 150%. Wall Street analysts have remained bullish on the stock, estimating shares will rise to roughly $173 over the next year from their current level of $138, according to Yahoo Finance data.

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K SHAPED: Economy and Recovery

Posted on January 2, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Understanding the K-shaped Economy

According to Olivia Voltaggio, in a V-shaped economy, things go down but then bounce back for everyone. In a K-shaped economy, the overall economy might go down. Only some parts of it recover, while others keep struggling.

In a K-shaped economy, people’s financial situations vary widely. Not everyone faces the same struggles. Lenders and financial institutions need to be flexible with strategy. They need to understand the different challenges their customers are dealing with.

Navigate with caution: The gaps in economic recovery highlight the importance of taking a careful, strategic approach.

How did we end up with a K-shaped recovery in 2024?

Inflation-driven price increases seem to be getting more stable. But, they may not reach the goal set by the government until 2026. This has made things more expensive for regular families.

For example, people with student loan debt had to start paying it back in October 2023. This was after a pandemic-induced grace period. Student loan repayment made budgeting harder. Borrowers might need to spend more on average than expected. For young adults (Gen Z), it could be even more.

Finally, more people are using credit cards because things are getting more expensive. Some are struggling to pay their credit card bills on time.

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DAILY UPDATE: Markets Down Closing Out Year!

Posted on January 1, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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US stocks slipped Tuesday, closing 2024 with an uncharacteristic down note after a roaring year of trading. The S&P 500 (^GSPC) fell 0.4%. The Dow Jones Industrial Average (^DJI) dropped just below the flatline, while the tech-heavy NASDAQ Composite (^IXIC) led the losses at 0.9%.

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Despite the sour final stretch, the benchmark S&P 500 closed 2024 up 23%, according to Yahoo Finance data. The tech-heavy NASDAQ Composite gained almost 30%. The Dow Jones Industrial Average posted a more modest 13% win. The S&P’s annual gain roughly matches 2023’s performance, logging the highest consecutive back-to-back annual gain in nearly 30 years.

https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8u0026amp;qid=1418580820u0026amp;sr=8-1u0026amp;keywords=david+marcinko

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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NEW ORLEANS: 10 Dead with 35 Injured in Truck Incident – Suspect Dead [Motivation Unknown]

Posted on January 1, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

BREAKING NEWS WITH SPECIAL REPORT [3:15 a.m. EST]

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At least 10 people are dead and 35 injured after a man drove a pickup truck into a large crowd on New Orleans’ Bourbon and Canal streets early New Year’s Day, officials said. The suspect is dead. President Biden has been notified.

In an early Wednesday press conference, New Orleans Police Department (NOPD) chief Anne Kirkpatrick said a man drove a pickup truck down Bourbon Street with “clear intent.”

“He was hell bent on creating the carnage and the damage he did,” Kirkpatrick said, adding that two NOPD officers are among those injured.

The man drove down Bourbon Street “at a very fast pace,” indicating “very intentional behavior [and] trying to run over as many people as he possibly could,” Kirkpatrick said.

At least one improvised explosive device was found on the scene, said FBI New Orleans special agent-in-charge Alethea Duncan, and officials are “working on confirming if this was a viable device or not.”
The FBI is taking over the investigation, officials said.
More updates are expected from NOPD headquarters at 11 a.m. and 3 p.m. local time.

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LUCAS Paradox

Posted on December 31, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Lucas Paradox occurs when capital is not flowing from developed countries to developing countries despite the fact that developing countries have lower levels of capital per worker, and therefore higher returns to capital.

According to Wikipedia, economic theory predicts that capital should flow from rich countries to poor countries, due to the effect of diminishing returns of capital. Poor countries have lower levels of capital per worker – which explains, in part, why they are poor. In poor countries, the scarcity of capital relative to labor should mean that the returns related to the infusion of capital are higher than in developed countries.

In response, savers in rich countries should look at poor countries as profitable places in which to invest. In reality, things do not seem to work that way. Surprisingly little capital flows from rich countries to poor countries. This puzzle was famously discussed in a paper by Robert Lucas PhD in 1990.

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CHINA: Li Keqiang Index

Posted on December 31, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Li Keqiang Index was created in 2010 by The Economist and measure’s China’s economy using three indicators: railway cargo volume, electricity consumption and bank loans.

The index is seen as an alternative to official gross domestic product numbers released by the Chinese government.

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DAILY UPDATE: Covid-19 Update as Stock Markets Fall Again and US Treasury Hacked

Posted on December 31, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Stat: 4 in 10. That’s about how many US nursing home residents got an updated Covid-19 vaccine in the winter of 2023–24, according to the CDC, despite the recommendation that adults 65 and older get the new shot. (KFF)

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Stocks fell on Monday, with the woes of the three major indexes continuing in the final week of the year as an otherwise strong 2024 comes to a close.

The benchmark S&P 500 (^GSPC) slipped more than 1% while the tech-heavy NASDAQ Composite (^IXIC) fell roughly 1.2%. The Dow Jones Industrial Average (^DJI) fell about 0.8%.

Stocks moved lower as the 10-year Treasury yield (^TNX) retreated from a seven-month high to hover near 4.55%. Stocks closed out last week with a Friday slide from Big Tech names like Tesla (TSLA) and Nvidia (NVDA), with the NASDAQ Composite falling 1.5% and the S&P 500 down over 1%.

The highly anticipated “Santa Claus” rally, which is statistically one of the most consistent seven-day positive stretches of the year for the S&P 500, has flopped thus far. Since 1950, the S&P 500 has risen 1.3% during the seven trading days beginning December 24th, well above the typical seven-day average of 0.3%, according to LPL Financial chief technical strategist Adam Turnquist. In the current period, the S&P 500 is down nearly 1%.

Chinese state-sponsored hackers breached the U.S. Treasury Department’s computer security guardrails this month and stole documents in what Treasury called a “major incident,” according to a letter to lawmakers that was provided to Reuters on Monday.

The hackers compromised third-party cybersecurity service provider BeyondTrust and were able to access unclassified documents, the letter said.

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PARADOXICAL: Persuasion

Posted on December 30, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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QUESTION: Ever tried convincing someone by arguing against your own point?

If so, that’s paradoxical persuasion. It’s like reverse psychology’s sophisticated cousin. By presenting the opposite argument, you make people defend your original point. It’s a mental judo move, using their own momentum against them. Next time you want someone to agree with you, try saying, “You’re right, maybe we shouldn’t get pizza.”

So, according to Dan Ariely PhD, watch as they passionately argue why pizza is, in fact, the best choice for dinner.

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MARKETS: Risk-On, Risk-Off and On-Off

Posted on December 30, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Risk-On

RO = Asset prices commonly follow the risk sentiment of the market. Investors look for changing sentiment through corporate earnings, macro-economic data, and global central bank action. An increase in the stock market or where stocks outperform bonds is said to be a risk-on environment.

Risk-on environments can be carried by expanding corporate earnings, optimistic economic outlook, accommodative central bank policies, and speculation. As the market displays strong influential fundamentals, investors perceive less risk about the market and its outlook.

Risk-Off

ROff = When stocks are selling off, and investors run for shelter to bonds or gold, the environment is said to be risk-off. Risk-off environments can be caused by widespread corporate earnings downgrades, contracting or slowing economic data, and uncertain central bank policy.

Just like the stock market rises in a risk-on environment, a drop in the stock market equals a risk-off environment. Investors jump from risky assets and pile into high grade bonds, U.S. Treasury bonds, gold, cash, and other safe havens

Risk-On Risk-Off?

Risk-on-risk-off investing relies on and is driven by changes in investor risk tolerance. Risk-on-risk-off (RORO) can also sway changes in investment activity in response to economic patterns. When risk is low, investors tend to engage in higher-risk investments. Investors tend to gravitate toward lower-risk investments when risk is perceived to be high.

Note: Thanks to Chat GPT.

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HABITUATION: Repetitive Stimuli

Posted on December 29, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Habituation is your brain’s way of tuning out repetitive stimuli. It’s like background noise – after a while, you stop noticing it. This mental autopilot helps us focus on new and important information, but it can also make us overlook the familiar. It’s why you might not notice a smell in your house that’s obvious to a visitor.

To combat habituation, according to colleague Dan Ariely PhD, try changing up your routine and environment. Fresh experiences keep your brain engaged and alert.

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PARADOX: Anti-Trust Definition with Book

Posted on December 29, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The anti-trust paradox suggests that antitrust enforcement artificially raised prices by protecting inefficient competitors from competition.

The Antitrust Paradox Book is an influential 1978 book by Robert Bork that criticized the state of US anti-trust law in the 1970s. A second edition, updated to reflect substantial changes in the law, was published in 1993. Bork has credited Aaron Director as well as other economists from the University of Chicago as influences.

Bork argued that the original intent of antitrust laws as well as economic efficiency makes consumer welfare and the protection of competition, rather than competitors, were the only goals of antitrust law.

Thus, while it was appropriate to prohibit cartels that fix prices and divide markets and mergers that create monopolies, practices that are allegedly exclusionary, such as vertical agreements and price discrimination, did not harm consumers and so should not be prohibited.

The paradox of antitrust enforcement was that legal intervention artificially raised prices by protecting inefficient enterprises from competition.

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COGNITIVE BIAS: Envy and Jealousy

Posted on December 28, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Envy / Jealousy: This bias also relates to the contrast and social proof biases. Prudent financial and business planning and related decision-making are based on real needs followed by desires. People’s happiness and satisfaction is often based more on one’s position relative to perceived peers rather than an ability to meet absolute needs.

The strong desire to “keep up with the Jones” can lead people to risk what they have and need for what they want. These actions can have a disastrous impact on important long-term financial goals.

According to colleague Dan Ariely PhD, clear communication and vivid examples of risks is often needed to keep people focused on important financial goals rather than spurious ones, or simply money alone, for its own sake.

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BACKFIRE: Mind Effect

Posted on December 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Backfire Effect refers to the strengthening of a belief even after it has been challenged.

Cook and Lewandowsky (2011) explain it very well in the context of changing people’s minds in their Debunking Handbook. The backfire effect may work based on the same foundation as Declinism, in that we do not like change. It is also similar to negativity bias, in that we wish to avoid losing and other negative outcomes—in this case, one’s idea is being challenged or rejected (i.e. perceived as being made out to be “wrong”) and thus, they may hold on tighter to the idea than they had before.

However, according to colleague Dan Ariely PhD, there are caveats to the backfire effect—for example, we also tend to abandon a belief if there’s enough evidence against it with regard to specific facts.

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STOCK MARKET TRAPS: Overbought Bulls and Oversold Bears

Posted on December 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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What Is a Bull Trap?

A bull trap, according to James Chen, is a false signal, referring to a declining trend in a stock, index, or other security that reverses after a convincing rally and breaks a prior support level. The move “traps” traders or investors that acted on the buy signal and generates losses on resulting long positions. A bull trap may also refer to a whipsaw pattern. Read: “Bull Trap.”

What is a Bear Trap

The opposite of a bull trap is a bear trap, which occurs when sellers fail to press a decline below a breakdown level.

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DAILY UPDATE: Medicare Tele-Health Out as DJIA Finishes Up a Tad

Posted on December 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Absent Congressional action, beginning January 1sy, 2025, the statutory limitations that were in place for Medicare telehealth services prior to the COVID-19 PHE will retake effect for most telehealth services.

This means most telehealth visits will not be covered by Medicare in 2025, unless Congress acts by the end of December 2024.

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(Reuters) -The Dow Jones Industrial Average closed fractionally higher on Thursday, stretching its winning streak to five sessions despite light trading volumes and rising U.S. Treasury yields weighing on some of the dominant technology megacaps.

While the NASDAQ Composite and the S&P 500 were broadly unchanged, the indexes both finished slightly in negative territory. This snapped the NASDAQ’s four-session run of higher closes, and ended the S&P 500’s own run at three sessions.

On a day of few catalysts, investors responded to yields on U.S. government bonds inching higher, including the yield on the benchmark 10-year Treasury note hitting its highest since early May at 4.64% earlier in the session. And, a strong auction of seven-year notes early in the afternoon though helped yields come off slightly, with the 10-year note at 4.58% in late-afternoon trade.

Higher yields are traditionally seen as negative for growth stocks, as it raises the cost of their borrowing to fund expansion. With markets increasingly dominated by the megacap technology stocks known as the Magnificent Seven, crimping their performance – especially in lieu of other market catalysts – will put downward pressure on benchmark indexes.

CITE: https://tinyurl.com/2h47urt5

The S&P 500 slipped 2.45 points, or 0.04%, to 6,037.59 points, while the NASDAQ Composite lost 10.77 points, or 0.05%, to 20,020.36. The Dow Jones Industrial Average rose 28.77 points, or 0.07%, to 43,325.80.

Six of the megacaps fell, with Tesla leading decliners with a 1.8% fall. The outlier was Apple, rising 0.3% and continuing to edge closer to becoming the first company in the world to hit a market value of $4 trillion.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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CORPORATE EARNINGS: Per Share, Yield and EBDITA

Posted on December 26, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

DEFINITIONS

By Staff Reporters

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Earnings per share (EPS): The portion of a company’s profits allocated to each outstanding share of its common stock. It is as an indicator of a company’s profitability.

Earnings yield: Earnings per share for the most recent 12 months, divided by the current market price per share; it is the inverse of the price to earnings (P/E) ratio.

EBITDA: Earnings before interest, taxes, depreciation and amortization (EBITDA) is an approximate measure of a company’s operating cash flow.

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HFR INVESTMENTS: Two Credit Indices

Posted on December 25, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

Book Marcinko: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

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HFRI Fund of Funds Composite Index invests with multiple managers through funds or managed accounts. The strategy designs a diversified portfolio of managers with the objective of significantly lowering the risk (volatility) of investing with an individual manager. The Fund of Funds manager may allocate funds to numerous managers within a single strategy, or with numerous managers in multiple strategies. The investor has the advantage of diversification among managers and styles with significantly less capital than investing with separate managers. The HFRI Fund of Funds Index is not included in the HFRI Fund Weighted Composite Index.

HFRI Fund Weighted Composite Index is a global, equal-weighted index of over 2,000 single-manager funds that report to HFR Database. Constituent funds report monthly net of all fees performance in U.S. Dollar and have a minimum of $50 Million under management or a twelve (12) month track record of active performance. The HFRI Fund Weighted Composite Index does not include Funds of Hedge Funds.

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BRUSHING: Beware Holiday Scams!

Posted on December 25, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

DEFINED

By Staff Reporters

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In brushing scams, according to Norton, criminals trick e-commerce platforms into believing you purchased a product, allowing them to post fake verified reviews under your name. These verified reviews increase the product’s visibility on sites like Amazon or eBay. They especially happen during the holiday season.

Here’s how it works:

Information gathering: An unethical business gathers information about you through online sources such as people-search sites, data leaked through reaches, or info bought from an illegal marketplace.
Bogus account creation: The business creates an online shopping account with your information.
Shipment: They send a package to your address with no return address on the label.
Fraudulent review: They write a glowing review in your name for the product they sent you.

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CHRISTMAS EVE GIFTS: Keeping Up with the Jones

Posted on December 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

Feeling the Pressure to “Give”

By Rick Kahler MS CFP®

Are you feeling any pressure this Christmas season to give, give, give? Keeping up with the Joneses all year is hard enough. It gets even worse during the holidays, when we feel pressured to keep up, not just with the Joneses, but also with the expectations others, and ourselves, put on Santa Claus.

Some Christmas shoppers overspend on gifts and end up paying off credit card bills for months. Others drive themselves crazy trying to find exactly the right gifts for the right people. Others hate the whole idea of shopping so much that they find it hard to enjoy the season.

If you fit into any of these categories, the cause may be your money scripts. The unconscious beliefs about money that we all hold are especially likely to kick in this time of year. We are surrounded by expectations and pressures about “ideal” holiday celebrations with the perfect gifts, the perfect decorations, and the perfect foods. As a result, we are especially vulnerable to making money decisions blindly in response to beliefs we don’t even realize we hold.

You may be one of those who regularly end up spending significantly more on gifts than you intended to. You may impulsively buy additional, unbudgeted gifts for people you’ve already bought presents for. You may not even try to set holiday spending limits. You may overspend on things for yourself while you’re Christmas shopping.

If any of these are true for you, you may have some unconscious beliefs about money that drive you to overspend. See whether any of the following money scripts might fit for you:
“The more you spend, the more love you show.”
“It takes the joy out of giving if you pinch pennies.”
“It’s the season for giving lavishly, not for being a Scrooge.”
“If I don’t buy just the right gifts, people won’t like or respect me.”
“I need to give my kids more than I got when I was a child.”
“More gifts and more spending will make the holidays okay (and make my guilt go away).”
“It’s tradition. Everyone expects (whatever) from me.”
“I do so much for everyone else; I deserve something for myself, too.”

It’s also possible you may go to the opposite extreme and be a Grinch when it comes to the holidays. If you hate Christmas shopping, grumble about the holiday being so commercialized, and look forward to January, it’s possible you may hold some money scripts that drive you to underspend. Your beliefs may be similar to the following:

“It’s wrong to spend money except on necessities.”
“You aren’t a spiritual or religious person if you spend too much money.”
“Christmas shouldn’t be about money.”
“It’s wrong to spend money on luxuries when poor people are suffering.”
“It isn’t good for kids to get too much.”
“My kids shouldn’t have more than I had when I was a child.”

Christmas Wreath

If you’d like to change some aspects of what you do and how you feel about holiday spending, you may find it useful to take a closer look at your own beliefs about the season. One way to begin this is to quickly write answers (short statements are best) to the following questions: What do I believe about money and each of the following? Christmas? Family celebrations? Presents? Giving? Spending? Receiving?

Assessment

You may uncover some money scripts similar to the ones listed above. Learning why you tend to overspend or under spend this time of year won’t instantly change what you do. Yet understanding what is behind your pattern of holiday spending is an important way to start becoming a more conscious Christmas shopper.

Conclusion

Your thoughts and comments on this ME-P are appreciated. 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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Filed under: "Ask-an-Advisor", Ethics, Experts Invited, Financial Advisor Listings, Financial Planning, LifeStyle | Tagged: . Christmas, “Money Scripts”, Christmas Giving, jones, psychology, Rick Kahler MS CFP®, X-mass | Leave a comment »

INVESTMENT PORTFOLIO: More on Year End Mutual Fund “Window Dressing”

Posted on December 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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By Steve Selengut

December values may not be what they seem

NOTE: Mr. Selengut is a private investor and a contributing editor to LIFE & Health Advisor. He is the author of the book ‘The Brainwashing of the American Investor: The book that Wall Street does not want you to read.’

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As [physician] investors, and we all are investors these days, it is important that we understand the idiosyncrasies of year-end Stock Market activity. On Wall Street, investing can be a minefield for those who don’t appreciate the non-economic, non-business-model, factors contributing to the market value numbers in fourth quarter brokerage account summaries.

Year end market values may not be what they seem ….

“Portfolio Window Dressing” (PWD) produces security pricing that is more a function of next year’s institutional marketing programs than a reflection of the economic forces that we would like to think are their primary determining factors. Not even close…

Toward the end of every calendar quarter, we hear the financial media report that “institutional PWD activities” are in full swing. But that is as deep as the stories ever go. What are they talking about, and just what does it mean to you as an investor?

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Filed under: Ethics, Experts Invited, Financial Planning, Funding Basics, Glossary Terms, Investing, Portfolio Management | Tagged: end of year window dressing, Investing, portfolio windiow dressing, portfolio window dressing, PWD, santa claus rally, Steve Selengut, window dressing | Leave a comment »

VIDEO: Christmas 2024 Holiday City Lights Tour

Posted on December 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Dr. David Edward Marcinko MBA

[CEO – iMBA Inc]

To Our ME-P Subscribers, iMBA Inc., Clients and Friends

As we look forward to sharing the holidays with family and friends, we also remember those less fortunate.

And, as has been our practice in recent years, rather than sending holiday greeting cards, the iMBA Inc will provide support to several charities dedicated to helping those in need.

We hope this gesture provides happier holidays for others and serves to express our gratitude to you, in the spirit of the season, for your continued support and loyalty to this ME-P.

Happy New Year 2024

We also extend our hope that the New Year 2022 brings you and your loved ones good health, happiness and a world that comes to know peace and understanding.

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Channel Surfing the ME-P

Have you visited our other topic channels? Established to facilitate idea exchange and link our community together, the value of these topics is dependent upon your input. Please take a minute to visit. And, to prevent that annoying spam, we ask that you register. It is fast, free and secure.

MORE: Shopping Trends and Physicians

A New Christmas Tradition: Take a Walk?

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

Filed under: Ethics, Experts Invited, iMBA, Inc., LifeStyle, Marcinko Associates, Op-Editorials, Videos | Tagged: Christmas Eve, Dr. David Marcinko, Hampden, Happy New Year, Merry Christmas, tour | 4 Comments »

e-BOOKS: For Doctors, Financial Advisors, CPAs, Insurance Agents, Medical Consultants and Health Law Attorneys

Posted on December 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Ann Miller RN MHA CMP™

INTRODUCING OUR NEXT GENERATION e-BOOK LIBRARY FROM iMBA, Inc.

An e-book is an electronic or digital book that can be read on a computer or a handheld device.

Our new e-books consists of text, images, and are fixed to a specific spot on the page.

And, our e-books are a data files similar in content and structure to a word-processing document that comes in a PDF format. To use our e-books, you need to purchase and download it to a device that has a .pdf file reader app, such as ADOBE® or similar on a smartphone, tablet or computer. A PDF, also known as a portable document format, is the format most people are familiar with and used in our e-books. PDFs are known for their ease of use and ability to hold custom layouts. They are the most commonly used e-Book formats, especially by professionals and adult-learners.

You can then access the e-book and read it, or highlight pages and even take side notes.

e-Books Save Money

With no manufacturing, printing, binding or shipping costs, e-Books are cheaper than traditional hard or paper back books.The price of each specialized and highly niche focused e-Book [50-100 pages] is only $25, whereas similar paperback printed books of this type generally cost $145, or more!

Payable thru PayPal [3% courtesy surcharge applies].

MORE HERE: https://medicalexecutivepost.com/me-pr-a-new-feature/

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FREDDIE MAC: (FHLMC-Federal Home Loan Mortgage Corporation)

Posted on December 20, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Freddie Mac (FHLMC-Federal Home Loan Mortgage Corporation)

Freddie Mac is a GSE [government-sponsored enterprise] established by Congress. It’s similar to Fannie Mae with a publicly owned corporate structure. (Freddie Mac’s stock (FRE) trades on the New York Stock Exchange.) These two giant GSEs increase liquidity in the U.S. mortgage market by purchasing mortgages from lenders, then typically repackaging (securitizing) the debt and reselling it to investors, helping to create a “secondary” market for mortgages.

The GSEs’ main purpose is to assure that mortgage money is available for borrowers. But they don’t lend money directly. Instead, they purchase mortgages from “primary” lenders like mortgage companies, banks, and credit unions. That allows the primary lenders to replenish their funds and lend more money to home buyers. The GSEs finance their mortgage purchases by issuing mortgage-backed securities (MBS) and other debt instruments (often referred to as agency debt, even though, technically, the GSEs aren’t government agencies). GSE debt is considered to have relatively high credit quality based on its implicit government backing, reinforced by what happened during the Financial Crisis in 2008.

Since Fannie Mae and Freddie Mac were placed into government conservatorship in September 2008, the government has pledged to support any shortfall in the balance sheets of the two GSEs. The U.S. Treasury has said it will ensure that both GSEs can maintain a positive net worth and fulfill all of their financial obligations. This statement of support lends credence to the very high credit ratings of MBS and other debt issued by Fannie and Freddie.

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BONDS: Revenue

Posted on December 20, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

DEFINITION

By Staff Reporters

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Revenue bonds are one of the biggest sectors in the municipal debt market.

Unlike a general obligation (GO) bond, revenue bonds are not backed by a municipal issuer’s taxing authority. Instead, interest and principal are secured by the net revenues (tolls, fees, or other charges tied to usage) from the project or facility being financed.

Revenue bonds are issued to finance a variety of capital projects, including construction or refurbishment of utility and waste disposal systems, highways, bridges, tunnels, air and seaport facilities, schools and hospitals.

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ULYSSES PACT: Will Power and Self Control

Posted on December 20, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

DEFINED

Staff Reporters

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Taking away a future choice from oneself to avoid anticipated willpower failures.
The present self trying to help the future self resist temptation.

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Ulysses Pact is a commitment made with oneself to accomplish a tough goal by limiting the choice to back out, boosting the chances of success by removing tempting alternatives.

According to colleague Dan Ariely PhD, it’s a self-control strategy that’s especially useful for resisting short-term temptations.

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Filed under: Career Development, Drugs and Pharma, Ethics, Experts Invited, Glossary Terms, LifeStyle, mental health | Tagged: Dan Ariely PhD, future self, ill power, mental health, present self, self controll, Ulysses, Ulysses Pact, will power pact | Leave a comment »

CURRENCIES: Carry-Trade Oriented

Posted on December 18, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

DEFINITION