More Than Just Data: Financial Advice, 2022 Elections, Maybe We Should Win 90.
If you walked into Netflix HQ and pitched a story idea that basically encapsulated the last four years, do you think anyone would have greenlighted the project?
Yesterday, I was at a conference and my phone started blowing up. This is the order of alerts I received:
? 1)????Liz Truss apparently decided on holding the record for the shortest lived Prime Minister in UK history.
2)????Giorgia Meloni (leader of the Brother of Italy party and presumed next Prime Minister of Italy) announced that anyone who did not support Ukraine and took Russia’s side had no place in her government. Basically putting a big question mark on whether or not a government can be formed.
3)????Former PM Boris Johnson is putting his hat in the ring to become PM again.
I mean… you just can’t even make this stuff up. Yet, here we are, living in a world where every country seems to be trying to win a WTAF contest. Of course, this in on the heels of news earlier this week that Ye is buying Parler (maybe) and all 40,000 of it’s regular users (really bad time to forget that bcc is your friend), Elon Musk might cut off Ukraine from Starlink (right after talking with Russian leaders), and our former President has opinions on how Jewish people in America should behave…..it’s been a week.
?If this cycle continues, I can just about guarantee that we will all have to suffer through a Yankees-Phillies World Series.
As always, here are the stories that caught our attention this week:
? 1)????Uncle Bob > Warren Buffet
This week, Trendency released a look at some data around who people go to for financial advice. Family members were the big winner with 61% reporting that they?talk about financial decisions with a family member once a year or more. At the same time, a majority (53%) say that they never talk to a financial advisor. Granted, most of us don’t have the Oracle of Omaha on speed dial, but still not great news for the financial professionals out there!
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There were some differences that were expected: people with a college degree are more likely to consult a financial advisor at least once a year. But also some differences I wasn’t expecting, such as, Americans under 45 are twice as likely to consult with a financial advisor on a regular basis than those over 45. Overall, 54% of those under 45 talk with an advisor at least once a year, for those over 45 the number is only about 33%.
? 2)????35 < 40
Also this week, Lincoln Park Strategies released their latest data on the 2022 Election. There was some interesting movement over the past month with the overall numbers moving toward the Republican party, while some internal numbers (such as women) showing some strength for Democrats. The American public, however, is becoming less bullish on the Democrats chances. In September 40% of Americans felt the Democrats would maintain control over the House and Senate, while 20% predicted a split Congress, and 17% felt the GOP would win both chambers. Fast forward four weeks and now 35% feel Democrats are going to hold both chambers, 21% predict a split Congress, and 20% feel the GOP will win both. We’ll know in three weeks how good the predictions were, but overall people tend to be correct more often than many polls.
3)????62% < ???
Since 1905, there have been 109 teams in baseball to win 100 games or more during the regular season. Of these teams only 37 have won the World Series, just over ? of the time. Overall, not a great average. This year, four teams won more than 100 games and 3 have already lost in the playoffs. The only 100-win team standing is the Houston Astros. The first 100 win team to win the World Series…..The New York Giants in 1905. The last time a 100-win team won the world series….the 2018 Boston Red Sox. What must have really stung was the 1906 season for the Chicago Cubs, who won 116 games (0.763 win percentage) and lost in the World Series. Ooof.
We hope you enjoyed this week’s edition and, as always, we look forward to your thoughts and hearing what stories caught your eye this week.