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Market Insight

How To Beat FOMO

Surprised at how well the economy and markets have performed lately? You’re not alone. It’s hard to believe that it was barely one year ago when the Wall Street Journal reported that approximately 60% of the economists they surveyed were expecting a recession. In hindsight those predictions seem so far off, leading one to would wonder why those same economists were asked for their opinions again (this time, they put the odds of recession at around 25%). Instead of facing a recession and a stock market correction, we have benefited from a resilient economy and robust financial markets, despite the unprecedented political environment.

Quarterly Newsletter

Navigating the Courts of Finance: NBA All Stars, Predictions, and the Perpetual Game

According to the National Federation of State High School Associations, almost 600,000 boys participate on high school basketball teams. However, less than 5% of these athletes move on to play at the collegiate level, with a fraction of that, less than 1%, competing on Division I teams - the highest level . Despite their exceptional skill, only 1% of Division I players manage to reach the NBA , which employs around 550 players across all teams. The trajectory for female basketball players follows a similar pattern. Simply labeling professional basketball players as "the best of the best" fails to capture the extent of their talents and the obstacles they've overcome. Among this elite group are about two dozen individuals with extraordinary abilities – the All Stars.

Time Is On Your Side

Though it’s difficult to measure, 2023 may be remembered one of the worst years ever for economists and market forecasters. As the clock struck midnight on New Year’s Eve this past year, even the oft maligned weather forecaster looked like a seer when compared to the most followed financial prognosticators. Forbes labeled 2023 as “The Year of Terrible Market Predictions” with Business Insider echoing that sentiment in an article titled “Stock Market Gurus Predicted a Grim 2023. They were Dead Wrong.”

Quarterly Newsletter

The Cost of Free Money

There’s no such thing as a free lunch. You know the phrase and what it means. Free hotel breakfasts, free checking, and free shipping all have associated embedded costs that we pay but don’t necessarily see. Everything has a cost, even money. The cost of money is the interest rate we pay to borrow it, and for the better part of the last 12 years, that interest rate has been near zero. And while free money seems like a dream come true, it too has costs, and this year we are paying the price.

Quarterly Newsletter

It’s Real. US Government Bonds That Yield 9%+

Last week inflation hit a 40-year high and there has been much talk recently about its impact on markets and the economy (as we discussed recently here. One way investors can benefit from rising consumer prices is the Series I Savings bond (I-bonds) issued by the US. Treasury. I bonds set their interest rates every six months (in May and November) based on inflation and a fixed rate. Since they are tied to inflation rates, until recently I bonds have flown under...