The New England Economy
The Boston Advisor
by Sammy Azzouz
15h ago
We’ve focused on the economy and the inflation fight that could lead to a “hard landing” on the podcast. Lost in the conversation has been how things are doing locally. I’m hearing from certain clients (including business owners and corporate execs) that some sectors are cooling off and inflation’s a major issue. So, what do the numbers say? The Federal Reserve Bank of Boston released a detailed report on the New England economy that we can dig into. Employment Employment in New England is flat since February, 2020, but the job market during that time is lopsided according to the report. “Only ..read more
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Wednesday Reading List
The Boston Advisor
by Sammy Azzouz
4d ago
The Era of Higher Savings and Bond Rates Is Still Going. Don’t Waste It. by The Wall Street Journal Rate cuts might finally be coming and with that, you’ll see lower rates on short-term fixed income and money market yields. Regardless of whether that directly impacts you, it’s important to allocate your money appropriately to its purposes and avoid a portfolio cash drag. Goldman Sachs Vs. Moody’s: Where they expect national home prices to go through 2027 by ResiClub Goldman Sachs is expecting home prices to grow faster than inflation for the next few years, while Moody’s outlook is much more s ..read more
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A Real Estate Slowdown and a Pricey Stock Market
The Boston Advisor
by Sammy Azzouz
1w ago
In the June investment edition of the Wealthy Behavior podcast, I spoke to our Chief Investment Officer, Bob Weisse, about: May being a good month for stocks despite processing a higher for longer message from the Fed Expecting the Russell 3000 to outperform the S&P 500 given its small and mid cap exposure U.S. bonds doing well in May as rates came down, despite a negative year overall for the bond market U.S. stock market valuations increasing to 27 times trailing P/E and why we think that, plus more attractive bond yields and cheaper international stocks call for more portfolio diversif ..read more
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Wednesday Reading List
The Boston Advisor
by Sammy Azzouz
1w ago
S&P 500 Valuations Are Nuts. Why People Are Still Buying. by Barron’s Valuations have jumped recently, perhaps due to performance chasing, more liquidity in the system, or AI driven tech stocks getting frothy. In the short-term valuations don’t tell you much about stock market performance, but if corporate earnings don’t catch up to these valuations that could be a long-term headwind for the market. See also: Bull markets are usually longer and stronger than this by TKer Besides the information in the headline, shares why stocks can go up from here (stocks usually go up, valuations don’t ..read more
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Wednesday Reading List
The Boston Advisor
by Sammy Azzouz
2w ago
Massachusetts sees more cities filled with million-dollar homes by Axios Boston Mass has 31 cities and towns where the typical home is $1 million or more. The number is growing here and nationally although some states like Florida, Texas, and Delaware say fewer million-dollar cities than a year ago. Rule No. 1 of analyzing the economy by TKer The inverted yield curve a usually reliable recession indicator “based on the notion that the economy is functioning normally when long-term interest rates are higher than short-term interest rates” so bad things will happen when the oppos ..read more
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Wednesday Reading List
The Boston Advisor
by Sammy Azzouz
3w ago
Roth 401(k) employer matches may trigger a tax bill for you. Here’s what you need to know. by USA Today Employers can now match your 401(k) contributions directly in the Roth 401(k) tax-free bucket, but if you opt for this you need to remember that since Roth dollars are after-tax you will have to pay income tax on those match contributions. Reaganomics Is on Its Last Legs by The Atlantic Both parties used to agree that the more free trade, the better, but now they’re both signaling they think free trade has gone too far with President Biden also enacting tariffs against Chinese products like ..read more
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Your Money This Week
The Boston Advisor
by Sammy Azzouz
1M ago
Due to site issues, not everyone received this week’s Wednesday Reading List so here’s a quick recap of what was discussed. As always, click through to read the full articles if interested. The Dow has continued to underperform the S&P 500 because of the odd way it’s constructed and is not a good index to track your portfolio against Banks are pulling back on lending, slowing down deal activity and hurting the economy. This could give the Fed more impetus to cut rates. 18 charts showing amongst other things that profit margins are holding up, earnings outlook is improving, stocks don’t mi ..read more
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Wednesday Reading List
The Boston Advisor
by Sammy Azzouz
1M ago
The Dow Is a Terrible Index. But It Is Telling Us Something Important. by The Wall Street Journal The Dow is underperforming the S&P 500 by a lot. This is partly due to the odd way it is constructed based on share price versus market capitalization and that it tends to focus on old economy companies. “The trouble is that trying to choose just 30 stocks to represent the economy makes the selection committee resist putting in new members until they have been doing so well for so long that it can’t be avoided. At turning points in the economy, this is risky because that is when the new player ..read more
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Jim Simons: The Greatest Investor of All-Time
The Boston Advisor
by Sammy Azzouz
1M ago
Jim Simons passed away last week. He was a fascinating man, who not only had the strongest investing track record we’ve seen, but was a brilliant manager and leader. I spoke to Greg Zuckerman, the man who literally wrote the book about Simons and his hedge fund on the Wealthy Behavior podcast. Here’s an updated recap and link to the entire conversation. A secretive hedge fund you’ve likely never heard of has earned 66% A YEAR for its clients. It wasn’t done by superior stock picking. They never had a strong grasp on financial history. They use code, algorithms, and a quantitative investing ap ..read more
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Book Review: The Algebra of Wealth by Professor Galloway
The Boston Advisor
by Sammy Azzouz
1M ago
Professor Scott Galloway wrote a personal finance book. Given his following and other excellent content, it’s no surprise it became an instant #1 New York Times Bestseller. But should you read it?  This book review of The Algebra of Wealth: A Simple Formula for Financial Security will answer that for you by sharing Professor Galloway’s framework, focus areas, and things he didn’t cover. Framework Every good personal finance book has a financial success framework. My book, Beyond the Basics: Maximizing, Allocating, and Protecting Your Capital has three parts covering building your capital ..read more
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