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A Market Correction Between Thanksgiving and Valentine’s Day?

Michael Hartnett changes his timeline for a correction, EquityZen values Betterment at $1 billion and IHT Wealth Management partners with nVision Wealth Group.

This summer, Bank of American Chief Investment Strategist Michael Hartnett predicted a market crash in three to four months, according to (We’re currently in that territory.) But now Hartnett has changed his timeline and expects a stock market correction of 10 percent or more sometime between Thanksgiving and Valentine’s Day. “He now contends that having entered the market’s melt-up somewhat late, a bubble which, as shown before, has unleashed raging purchases of tech stocks and credit, especially junk bonds... he expects the upside S&P momentum to linger, bursting to 2,670 before finally getting swept under the bubble tide,” writes Tyler Durden on Hartnett identifies 10 triggers, such as the BofAML Bull & Bear Indicator exceeding a “sell signal” of 8 (it’s currently at 7.4); when peak policy climaxes with U.S. tax reform; and when the U.S. ISM Manufacturing Index drops sharply toward 52.

Betterment Valued at $1 Billion?

Insider shares of Betterment are trading on secondary market site EquityZen at a price that values the entire company at $1 billion, according to Business Insider. Stein told the website that the automated advice platform was growing assets, on average, $12 million a day. It’s not clear how accurate EquityZen’s valuation is; the company is a platform for private company investors to sell their shares to accredited investors, but it’s likely not far off—Betterment was most recently valued at $800 million after its latest investment round in July.

Midwest Super-OSJs Unite


Two super offices of supervisory jurisdiction in the Midwest have formally established an affiliation, according to an announcement on Thursday. IHT Wealth Management, a national firm based in Chicago, has agreed to partner with Kansas-based nVision Wealth Group, a regional super-OSJ and hybrid registered investment advisory group managing $570 million in assets. The five Kansas-based independent practices that are part of nVision will transition their RIA assets to IHT’s platform and join that firm’s super-OSJ. They include 14 advisors who oversee an aggregate of roughly $570 million in client assets.


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