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[ad_1] Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors. Cyclical stocks may be ready for liftoff  Cyclical stocks are priced similarly to the 1960s, early 1980s, early 1990s and early 2000s, according to Jim Paulsen, strategist at Leuthold Group. Those were periods that signalled the beginning of major bull market runs. He adds a bit of hyperbole perhaps suggesting that cyclical stocks may turn manic. But who knows? Perhaps there is some opportunity in the suggestion.  Now, what are cyclical stocks? Here is a very good post on The Motley Fool (an investment newsletter), breaking down the categories of cyclical and non-cyclical stocks.  “A cyclical stock is one whose underlying business generally follows the economic cycle of expansion and recession. Cyclical businesses perform well during economic expansions but typically experience significantly declining sales and profits during recessions and other challenging economic times.” The growth of a cyclical stock or cyclical sector depends on the business cycle. More specifically, these types of stocks need a robust and growing economy. Cyclical sectors include financials, industrials, consumer discretionary, energy, materials and commodities. That Motley Fool post does a good job of breaking down the sectors and it provides a few examples of sub-categories and stocks within those categories.  This post from RBC breaks down the types of stocks that work well in different parts of recessions and recovery periods through a full economic cycle.  Investing in cyclical stocks may carry more risk due to a dependence on continued robust economic growth. Rallies in cyclical stocks can be more short-lived and are prone to falter at the first hint of a recession or earnings slowdown.  If one were to choose to add to (or overweight) cyclical stocks or sector funds, impeccable timing is required. You would have to strategize when you enter and exit. Of course, most investment commentators suggest that market timing is next to impossible.  That said, patience might be the “cure” for timing on the “when to buy” side of the equation. You might be in early, and there may be many bumps along the road. You may have found some great long-term value, but you’ll have to wait it out.  On valuation and from that Seeking Alpha post: “With cyclicals underperforming since March of this year, when treasury yields hit their highs, ‘investors have the opportunity to buy cyclicals priced similarly to where they were priced, historically, in the midst of many post-war recessions,’ Paulsen adds. “As this analysis demonstrates, the excessive cheapness of cyclical stocks, currently, may be the most compelling gauge of future performance.” I suggest that the “when to sell” part is quite easy. If those market-beating returns do show up, sell in stages and perhaps the stock sale proceeds take you back to your stock-to-bond (risk level) allocation. You’d move the monies to bonds or other risk-off assets. Or perhaps your cyclical profits are moved to more defensive stock sectors.  Traditional value investing will often involve buying into cyclical economic sectors. And given that the U.S. tech giants have powered the current stock market rally—and as we discussed again last week they are certainly expensive—investors and fund managers are looking for greater value and opportunity.  But value investing is not exclusive to cyclicals. Often, you can find value in any sector on a stock-by-stock basis. From the healthcare sector, a very defensive and non-cyclical sector, I hold CVS Health Corporation (CVS). The forward P/E ratio is 11.67 compared to 21.3 for the S&P 500, according to Seeking Alpha. A lower P/E ratio means you’re buying a stock or fund with greater current earnings. I have no problem adding money to that stock and a few others that appear (to my eye anyways) to offer greater current earnings and solid long term growth prospects.  You could also seek out a value fund or find that greater value in a dividend-focused fund. A U.S. investor might even look to “cheaper” Canadian markets or other international markets.  Back to those U.S. cyclicals: The pandemic has distorted business cycles and sector behaviour and how we might categorize stocks. From this TD America post, Investing in Cyclical Stocks: Has the Pandemic Changed the Outlook?  “‘Compared to the overall stock market, cyclicals are in a position similar to where they were at the start of several past major bull-market runs: the early 1960s, early 1980s, early 1990s, and early 2000s,’ he writes in a note. COVID-19 has thrown some of these strategies into confusion, partly because the cycles have become so hard to identify. In May and June 2021, it appeared that the United States was winning the war on the pandemic through vaccinations, and the economy was ready to enter a long recovery phase. Then by August it became clear the Delta variant could be a huge challenge to a complete reopening, and some investors returned to ‘growth’ sectors like technology that initially carried the market in the early days of the pandemic.” And the market-leading technology companies may have nudged their way into that secular recovery space. Also from that TD piece:  “‘As the economy shifted to being more services driven, a lot of services are enabled by technology,’” Cruz explained. ‘So, to perform well in an economy directed by the service sector, tech companies with solutions will be in a good spot to help a service-led business.’” The pandemic is still the wild card of the deck. It’s shaped our behaviours. And perhaps we are changed forever because of it. And our world adjusts, so does our definition of certain sectors and they might not perform in certain economic conditions. It’s not a complete rewrite of sector performance, but it appears that some editing is required.  More on the evolving sector theme, Goldmans Sachs has released a series of ETFs, including the future consumer, future healthcare, future real estate, future tech leaders, and a future planet ETF that invests in the drive for a greener planet.  This might

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[ad_1] The U.S. housing market is one of staggering proportions. With more than 100 million homesteads and an aggregate value approaching $40 trillion, housing is the largest single asset class in the country. While the numbers are stratospheric, the importance cannot be encapsulated in mere economics. For most families, the house is their largest investment and the one that radiates the most with life. Who are my neighbors? Where do my kids go to school? Am I safe? Is the air quality good? Am I close to work? These questions govern the quality of life, and as a result, housing is crucial to the very fabric of democracy itself. Economists and commentators of all backgrounds have long understood this. Entire economic cycles are attributed to the amplitudes of the housing market. In recent memory, the 2008 recession was put squarely on the housing market and the derivatives and instruments concocted by Wall Street to transact on top of the market. While a recession ensued and has since passed, the fates of those who lost their homes are not all as rosy as the stock market indices might indicate. Put simply, housing and peoples lives are connected symbiotically, and because of this, the housing market merits focus and attention. The housing ecosystem In reality, the housing marketplace is the aggregation of several aligned actors. According to Quantarium Chief Operating Officer, Malcolm Cannon, “The housing ecosystem, particularly a well-functioning one, is a collection of many cooperating entities, including private companies, government bodies, and entrepreneurs focused on improvement.  This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Good governance and good housing: Public-private partnerships in proptech appeared first on HousingWire. [ad_2] Source link

[ad_1] Most financially conscious Canadians have become experts at getting value for money. Whether it’s looking at per-unit prices to see if a bulk offer is truly a deal, or shopping around for the lowest fees on comparable services, we’ve learned to make the most of every dollar. And yet, when it comes to charitable giving, many of us never even consider how much “good” our donations produce, and trust that all reputable organizations provide the same bang for our buck in terms of measurable change. But the reality is, not all charities have equal impact.  Tap to read more: Charity Intelligence top 10 impact charities in Canada for 2021 What impact means for charities—and for your donations Why charitable impact matters Overhead vs. Impact What donors should look for Methodology for the impact rating of charities Charity Intelligence top 10 impact charities in Canada for 2021 Ever wonder how a charity uses the money you donate? Is it mostly on marketing, or is it going directly to those in need? If you want to boost the impact of your charitable donations, check out our rankings of best charities for impact. We have four lists for you: Top 10 Impact Charities Overall Top 10 Canadian Impact Charities Top 10 International Impact Charities Top 10 Impact Canadian Food Banks Top 10 Impact Charities Overall Charity City Province Sector Subsector Against Malaria Foundation Canada Toronto Quebec International Health Canadian Foodgrains Bank Winnipeg Manitoba International Food The Citizens’ Foundation Canada Oakville Ontario International Education East York Learning Experience  Toronto Ontario Social Services Education Effect Hope Markham Ontario International Health Fresh Start Recovery Centre Calgary Alberta Social Services Addiction Indspire Ohsweken Ontario Social Services Education JUMP Math Toronto Ontario Social Services Education Lifewater Canada Thunder Bay Ontario International Water and sanitation, hygiene (WASH) Operation Eyesight Universal Calgary Alberta International Health Top 10 Canadian Impact Charities Charity City Province Sector Subsector The Boundless School Toronto Ontario Social Services Youth The Compass (new) Mississauga Ontario Social Services Food East York Learning Experience Toronto Ontario Social Services Education EPIC Society Sydney Nova Scotia Social Services Youth First Book Canada Mississauga Ontario Social Services Children Fresh Start Recovery Centre Calgary Alberta Social Services Addiction Indspire Ohsweken Ontario Social Services Education JUMP Math Toronto Ontario Social Services Education Street Health Toronto Ontario Social Services Health Toronto Foundation for Student Success Toronto Ontario Social Services Children Top 10 International Impact Charities Charity City Province Sector Subsector Against Malaria Foundation Canada Toronto Quebec International Health Canadian Foodgrains Bank Winnipeg Manitoba International Food The Citizens’ Foundation Canada Oakville Ontario International Education CODE Ottawa Ontario International Development Doctors Without Borders Canada Toronto Ontario International Health Effect Hope Markham Ontario International Health Farm Radio International (new) Ottawa Ontario International Livelihood Lifewater Canada Thunder Bay Ontario International WASH Mennonite Central Committee Canada Winnipeg Manitoba International Development Operation Eyesight Universal  Calgary Alberta International Health Top 10 Impact Canadian Food Banks Charity City Province Sector  Subsector Calgary Food Bank Calgary Alberta Social Services Food The Compass (new) Mississauga Ontario Social Services Food Food Banks Canada Mississauga Ontario Social Services Food Interfaith Food Bank Society of Lethbridge (new) Lethbridge Alberta Social Services Food Kamloops Food Bank and Outreach Society (new) Kamloops British Columbia Social Services Food Moisson Mauricie (new) Trois-Rivieres Quebec Social Services Food Moisson Montreal Montreal Quebec Social Services Food Partners in Mission Food Bank (new) Kingston Ontario Social Services Food Regina Food Bank (new) Regina Saskatchewan Social Services Food Saskatoon Food Bank & Learning Centre (new) Saskatoon Saskatchewan Social Services Food Return to top of page What impact means for charities—and for your donations “Some charities create a lot of change with the donations given to them. Others have almost nothing to show for the money coming from donors,” says Greg Thomson, director of research at Charity Intelligence (Ci), a non-profit that helps Canadians make informed giving decisions.  Indeed, there are charities that can take a $100-donation and turn it into nearly $700 worth of value for the people it supports and society at large. For example, a charity that helps at-risk teens could provide a sizable financial benefit to the youth who use its programs (in the form of food, housing, wellness, etc.), as well as to the greater community through costs savings to the public health-care and shelter systems.  On the other end of the spectrum, there are charities that destroy value, perhaps producing just $40 worth of measurable change from the same $100-donation because of spending too much in relation to the benefit they create. For example, charities that grant wishes to critically ill children often spend upwards of $25,000 per child, but the value provided to the child and their family is much lower, says Thomson.  “Wish charities are wonderful-feeling things that people love to give to, but they are really expensive,” he says. “One child receives a bedroom makeover, a trip to Disney World, or some other thing that makes them feel really good for a while—and may even improve their physical health a little bit. But when we do the value creation for that one child, we struggle to even get $10,000, out of that $25,000.” And that includes the cost savings to the family if they had taken on the expense of a trip or renovation themselves, he adds. Return to top of page The impact rating How can you find out which charities provide the greatest impact for your donation dollar? That’s where Ci comes in. For the past four years, it’s done a deep dive into Canadian charities to come up with an “impact rating”—a financial measurement of the on-the-ground work each one does.  Ci was already using publicly available information—including financial statements, annual reports, and websites—to rate charities in four areas: results reporting, financial transparency, need for funding, and “cents to the cause” (how much of each donated dollar goes to a charity’s programs after paying for administration, management and fundraising costs).  In 2018, Ci started adding impact scores on some of its charity reports,

[ad_1] Remember in last week’s podcast episode when we alluded to how you can often pre-decide a negative narrative about yourself and you can let that cloud all your interactions with others? Instead of hearing their kind words or assuming they are sharing something out of love, you hear and see everything through the lens of a negative narrative. In this week’s podcast episode, Jesse and discuss this more in-depth. We talk about lies we’ve believed, how these have colored our viewpoints, and how believing these lies have kept us from living in freedom and joy. We share more what it looks like to truly take to heart the quote from Charles Martin that says, “Only Jesus gets to tell you who you are.” In this podcast, we also give you an update on Baby D’s surgery and the incredibly surprising results of his surgery. We also tell you about a great idea Jesse came up with that has been saving our lives, we talk about Aldi grocery delivery, and about a book I recently listened to. In This Episode [00:34] – Welcome to another episode of The Crystal Paine Show. We have lots to share with you today. [01:23] – Today we want to talk about replacing the lies with truth and how only Jesus gets to tell you who you are. [01:29] – But before we get into that, it was a big week for Baby D! [06:43] – We had prepared ourselves that he was going to have severe hearing loss for all his life. [09:04] – For the first time in his life, he is able to hear! He’s learning all sorts of new things as a result! [11:28] – I just finished listening to a book by Charles Martin. [12:56] – What’s saving my life this week: Aldi grocery delivery. [14:20] – Jesse’s brilliant purchase that is saving our life! [17:39] – Lies versus truth and how this can impact your life. [18:44] – Jesse, are there lies that you have believed, that you have seen how it’s just had such a negative impact on your life? [21:06] – In Christ, we can do all things! [23:41] – If we let what other people think of us be where our worth and value is, it’s never going to be enough [27:59] – What does Jesus actually say about you? Links & Resources Books The Letter Keeper (A Murphy Shepherd Novel Book 2) by Charles Martin Special Mentions Phone Charging Base Charles Martin Hoopla Aldi Groceries Other Links Love-Centered Parenting 10 Days to Be a Happier Mom Sign up for the Hot Deals Email List MoneySavingMom.com My Instagram account (I’d love for you to follow me there! I usually hop on at least a few times per day and share behind-the-scenes photos and videos, my grocery store hauls, funny stories, or just anything I’m pondering or would like your advice or feedback on!) Have feedback on the show or suggestions for future episodes or topics? Send me an email: crystal @ moneysavingmom.com [ad_2] Source link

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[ad_1] The stall of Kerala Panchayat Department at the fair is showcasing the Integrated Local Governance Management System (ILGMS),which offers access to doorstep delivery of government services for the citizens. [ad_2] Source link

[ad_1] Broker Studies 2021 RealTrends Team Profitability Study Podcast: Comparing real estate team and brokerage profitability Study: It’s true, real estate teams outperform brokerage firms RealTrends Brokerage Compensation Report Over the past 15 to 20 years, the emergence of the mega-team has garnered the headlines. However, these super-sized teams aren’t the only ones turning a profit — a profit that dwarfs most real estate brokerage’s profit. Teams of all sizes have average gross margins more than double the average of brokerage firms when compared to data from the 2021 RealTrends 500 top brokerage firms and RTC Consulting benchmarking data. Real estate team profitability is stunning. “Many believe that teams were the foundation of real estate brokerage firms some 60 years ago,” says Steve Murray, senior advisor for RealTrends. “Back then, principal brokers who formed a company recruited agents to help them take care of referrals.” Back in 2017, RealTrends partnered with the California Association of Realtors to study real estate teams. By then teams were becoming commonplace, and brokerages like Keller Williams were building significant training and organizational resources around teams, while Compass was building a consumer-facing brand partly based on a team typically led by a prominent local agent. In that study, we looked at what team leaders valued in their broker. The result? The top benefits mentioned were legal and regulatory support, the brokerage’s brand name and low costs and fees.  Fast forward to today, when the team concept is exploding. While its unknown how many real estate teams exist today, we do know that the top 1,000 teams ranked by transaction sides in the 2021 RealTrends The Thousand and America’s Best Real Estate Professionals saw their average transactions increase by 49.7% in 2020 over 2019. The average team in the rankings closed 252.9 sides in 2020 versus 106.9 in 2019. Production vs. profitability Our rankings numbers show us how productive teams are. However, brokerage firms have often speculated about how well teams perform from a profit and loss point of view. In the 2021 RealTrends Team Profitability Study, we answer that question. First, we’ll talk about revenues. RealTrends surveyed 2,000 top teams in the country based on the 2021 RealTrends The Thousand and America’s Best Real Estate Professionals rankings. The teams in the survey averaged $3.33 million in gross commission revenues, have been in business for an average of 10.9 years and have an average of 13.9 agents and 4.5 employees. Brokers can put to rest any doubts that well-run teams are, in fact, revenue-generating enterprises. When compared to brokerages, teams surveyed averaged $6.4 million in per-agent sales volume. The average of the nation’s largest brokerage firms, according to the 2021 RealTrends 500 rankings, showed $3.2 million in sales volume per agent. For closed sides, the gulf was deeper, with teams having almost three times as many transactions per agent than brokerage firms. In our study, teams averaged 20.2 closed transaction sides per agent. The largest brokerage firms averaged 7.4. Brokers looking to increase their per-agent productivity would be wise to review some of the practices of teams. Profitability reigns supreme with teams In prior studies, we made an educated guess on the profitability of teams compared to brokerage firms. But with the 2021 RealTrends study on teams, we found out the truth. The results are staggering. In the study, says Murray, we found that teams retained an average gross margin of 61.8%, while the brokerage companies that RealTrends benchmarks (of all different business models), had an average gross margin of 13.8%. While smaller teams had higher margins, the difference between the smallest teams and the large teams was Infinitesimal.  “As teams get larger, their margins tend to shrink, but only a little,” says Murray. We also looked at expenses, and it’s no surprise that in three categories — occupancy, employment and administrative expenses — brokerages spent a higher percentage of gross margin than teams. However, teams spent 18% of gross margin on advertising and marketing; while brokerages spent about 2.4%. Are teams scalable on a national level? We also sought to determine if teams are scalable on a national level. Of course, we have hints that they are based on the growth of companies like Redfin, which is basically a team scaled, according to Murray. “Can the big teams triple their size? Certainly. Can they get capital to do it? Absolutely. So we think that’s going to happen,” Murray said. “You have Mark Spain, Robert Slack and Ben Kinney who all found a way to scale their teams.”  More than just numbers, this new study shows the power of lead generation and the provision of client and customer business opportunities in terms of value to real estate agents. It offers a powerful benchmark for teams to gauge performance against and brokers to determine value-added services to offer their agents. To get all the numbers on team profitability, view the full 2021 RealTrends Team Profitability Study here. The post Real estate teams beat brokerage firms in profitability appeared first on HousingWire. [ad_2] Source link