Looking Toward 2025
Here’s a quick update on what we’re paying attention to as we come to the end of 2024: Markets Stocks: The market overall is expensive on almost all common metrics: market cap to GDP, price to sales, etc. We are very wary of the most popular, most expensive stocks that have done so well lately. A handful of VERY pricey tech stocks are driving the DOW, S&P500, and NASDAQ, Bond: The bond bull market ended in 2020 after almost 40 years. Long rates have risen for almost 4 years now, and bond prices have been DOWN for 4 years in [...]
Thoughts On: The Yo-Yo Problem with Investing
The job of a professional money manager is to make people money. As difficult as that is, the job of the client service manager can be even harder. Client Service has to make people happy. I used to think that if we made people money, then they would be happy. I have learned we have to help people be happy long enough for us to make them money. Out of necessity, I have formulated some ideas about helping people be happy about their investments. The most critical (and some might think the most obvious) lesson I have learned is that [...]