Sat.May 27, 2023

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10 Weekend Reads

Barry Ritholtz

The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • The King’s Dominion (The real Succession) : His sons are at war. He’s divorced his fourth wife and broken an engagement to a would-be fifth. The jewel in what’s left of his crown faces a billion-dollar lawsuit.

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The Bet

The Reformed Broker

Eleven years ago this spring, a startup called Betterment published a blog post stating that human financial advisors were obsolete and that the people who work in the advice industry are pigs. The basis of their post was an NBER study that sent secret shoppers out to meet with “financial advisors” who then received high-cost, unsatisfactory advice.

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MiB: John Hope Bryant, Operation Hope

Barry Ritholtz

 This week, we speak with entrepreneur John Hope Bryant , the founder and chief executive officer of Operation HOPE, which is the US’s largest not-for-profit provider of financial literacy and economic empowerment tools. Described as the “Conscience of Capitalism,” Bryant is also chairman and chief executive officer of John Hope Bryant Holdings , Bryant Group Ventures and The Promise Homes Company.

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This Week on TRB

The Reformed Broker

Reminder: The Ritholtz crew is coming out to Austin, Texas next month. Details about how you can meet with us here. And if you haven’t subscribed yet, don’t wait. Check it out below or wherever fine podcasts are played. These are the most read posts on the site this week, in case you missed it: . The post This Week on TRB appeared first on The Reformed Broker.

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8 Sins of a Manual Reconciliation

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Business operations are getting increasingly complex, shareholders are demanding more, and your auditors are breathing down your neck like never before. In this high-pressure environment, it’s important to remember that reconciliation activity is your last line of defense against financial fraud and errors. Insisting on a manual process to handle month-end reconciliations is a risky endeavor that places an undue burden on your accounting team.

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Nine years have changed India's mindset: FM

CFO News

Citing some examples of the change in mindset, she said it is evident from the Padma awards selection, which have truly become people's awards, which recognise unknown individuals for their selfless work. Earlier, people who had some connection with people in power managed to get Padma awards while under PM Modi, there is a committee that identifies people doing brilliant, selfless work and only such people have received the Padma awards in the last 8-9 years, she said.

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India top destination being explored by MNCs as alternative to China, finds global CEO survey

CFO News

Amid China’s increasing geopolitical assertiveness, questionable trade and business practices, and rising labour costs, 88% of the CEOs who participated in research firm IMA India’s 2023 Global Operations Benchmarking Survey opted for India as their primary alternative to China. The survey was run among companies with a presence in India.

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Need to correct compliance burdens for businesses, reduce litigation: KV Kamath

CFO News

KV Kamath believes that the level of compliances and complaince burden for businesses should be reduced. The veteran banker spoke on various topics on Friday, at Ficci's CFO summit, where he also commented on India's FDI slowdown, target economic growth needed for good FDI flows, reduction in litigation and much more.