Bitcoin May Not Be Digital Gold, Citi Crypto Report Finds | Fortune

Crypto currency as a “lottery ticket?” I found that comment funny in the article. I also liked the ending:

“Bubbles can build in plain sight, be duly identified, and prove highly durable for a period measured in years.”

Enjoy the read.


4 Key Functions of a Chief Financial Officer

4 Key Functions of a Chief Financial Officer

January 28, 2015
This story originally appeared on Sageworks
Whether it’s a 50-person firm or one with a workforce of 5,000, companies rely on chief financial officers for critical duties and information. The day-to-day tasks of these financial professionals may vary, but CFOs generally have four major functions.

Here’s a closer look at those responsibilities and how top-tier CFOs set themselves apart.

1. Book

The primary role of a CFO, of course, is to make sure financial records of the company are in order. “They’ve got to make sure the books are right,” says Brian Hamilton, chairman of Sageworks. “Most CFOs have that covered.”

2. Share

CFOs should make sure that management has critical decision-making data. “Companies need key data to make good management decisions,” Hamilton says.

In order to provide that forward-looking data, CFOs must develop good forecasts and utilize reliable benchmarking data. Hamilton explains: “They need to know, ‘How are we doing compared to the competition? How are we doing this year compared to last year?’”

3. Comply

Every company has compliance issues to address, and the CFO oversees many of them. Filing and paying taxes is one example.

Publicly held companies have many additional compliance issues that privately held companies do not, and the CFO is often responsible for handling these. CFOs oversee duties related to shareholders, such as issuing dividends, and with the Sarbanes-Oxley Act, CFOs have myriad responsibilities related to preventing fraud and disclosing financial information.

4. Assist

The final CFO function that is vital to companies is assisting internal customers – the people in the company, such as operating managers, who need data to determine things like decisions on pricing or the lifetime value of a customer.

Unfortunately, many CFOs limit their focus to the accounting aspect of their job – presenting financials — and they can become glorified controllers instead of helpful partners guiding the company’s strategy. “All they’re doing is presenting balance sheets and income statements and cash-flow statements,” Hamilton says. “That’s ironic because if you look at the definition of accounting, it’s supposed to be the basis for financial decisions. Accounting is not an end; accounting is a means to an end.”

CFOs seeking to propel their companies will help the company make strategic decisions by taking an active role in financial analysis and management. Some CFOs aren’t used to this role, but using automated solutions to analyze the company’s finances and benchmark results can make it easier to provide actionable insights and communicate those to CEOs and company owners.

Cryptocurrency sell-off continues as bitcoin, ethereum sink

$30 billion in value wiped away in a day? Where did it go? I suspect either the crypto market value is grossly overstated, we just witnessed a wealth transfer from the uninformed masses (shoeshine boy with stock tips) to the informed few (hedge funds, futures traders), or both. Regarding overstatements, remember crypto markets are unregulated. So who verifies or certifies how many “coins” truly exist and the value of each?

I, and perhaps you as well, know people that were proud to tell of all the money they made with crypto currency. I haven’t received their seemingly daily “I’m making more money” updates in a while. Back at $18,000 these “investors” had a “thesis” for the “value” of various crypto currencies. May the understanding and thesis revision continue.

Anybody doubling down now? If so, I’d like to hear the thesis behind such an investment.

Breakout Companies to Join in 2018 📈🔥

I forward this with recent graduates in mind. Hopefully you connected with me on linked in or follow me on my website to receive updates like this.

It has been said numerous times at finance conferences, take risks when you are young. Companies on AngelList are small. Some will make it big. Some will not. Follow your inner voice.

The Skills Companies Need Most in 2018 – And The Courses to Get Them | Paul Petrone | LinkedIn

I wish more high school students would read this as they consider what major to choose for college.

For those out of high school, this article has links to online courses for each skill. Pretty cool.


-Dr. Moore

Pimco, Citigroup Sound Complacency Alarm for Global Economy – Bloomberg

The on-terminal “Bloomberg Market Concepts” training program clearly says “the future is unknowable.” How much longer can the market P/E remain 68% higher than the historical average? No one knows precisely. But I do agree with Pimco and Citigroup, now is not the time to be complacent. Also, take a look at this McKinsey report from a few years ago titled “Debt and (not much) deleveraging.” Debt is relatively high all over the place: governments, corporations, and households. In “This time is different: eight centuries of financial folly,” the authors point out that excessive debt levels preceded every financial crisis.

Proceed with caution my friends.

-Dr. Moore

“Whatever arises, ceases.” – The Buddha

Pimco, Citigroup Sound Complacency Alarm for Global Economy

More stories by David GoodmanJanuary 8, 2018, 3:16 AM PST
By David Goodman

Aberdeen’s Athey Says People Chasing Equities Higher

Ermotti Says Volatility Set to Become More Normal in 2018

UBS CEO Ermotti Sees Robust Economic Growth

Aberdeen’s Athey Says People Chasing Equities Higher

Two of the biggest hitters in financial markets are sounding warnings against complacency in the global economic outlook.

After the first week of 2018 saw strong data and multiple stock-market records, Citigroup Inc. and Pacific Investment Management Co. told clients in the last few days that there are still reasons to be worried.

While both agree there are some causes for optimism, they cite geopolitical factors, a removal of central bank stimulus and the risk of an inflation overshoot as possible catalysts for an end to the current economic expansion and market exuberance.

Investors are showing few signs of unease with global stocks at record highs and volatility measures still subdued. While riskier assets have recorded further gains in the first trading week of the year, Mark Schofield at Citi warned the potential payoff from such trades is diminishing.

“It is too early to call an end to the bull-market in risk assets but the risk/reward profile is deteriorating as expected returns peak and volatility begins to rise. Asset allocators must weigh up where we are in the business cycle, and what comes next. The ‘Goldilocks’ environment cannot last forever; a plateau in growth would be more bearish than a pick-up in inflation.”

Meanwhile, Joachim Fels at Pimco points to signs that U.S. jobs growth may be peaking as a “a clear sign that we are reaching the later stages of the business cycle” — a fact that also increases the chance of an inflation overshoot.

Still, the biggest risk is:

“Monetary overkill by central banks that seem more eager than ever to escape from bloated balance sheets and the dreaded lower bound of interest rates. Led by the Fed, the tide of global monetary policy is turning, and when the tide goes out, we will find out who is swimming naked.”

Bitcoin latest: Cryptocurrency dogecoin that started as parody now valued at over $1bn | The Independent

A quote from the article:

“says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over two years has a $1bn-plus market cap ”

Proceed at your own risk.

-Dr. Moore