December 8, 2022

Moving forward. Letting go.

Some relationships end. All relationships change. Often, it’s hard to let go. “You’re so brainwashed,” he said to me, and I knew our friendship had changed. I met up with some friends last week, some of which I had not seen in quite some time. It can be wonderful to meet up with old acquaintances, but also difficult when you see that you’ve grown apart. Still, you try, if nothing more than for the sake of your shared history, the good memories. You try to remember what it was that you had in common, what you went through together. But the […]
December 1, 2022

November 2022 Market & Economic Recap

Stocks Bolstered by a banner last day of November, the markets posted positive gains for the month. Through November, the major indices performed as follows: +5.3% Dow Jones +4.6% S&P 500 +3.3% Nasdaq Those returns technically pulled us out of a bear market, closing 20.4% higher than the recent low on September 30th of this year. The late rally was largely a reaction to remarks by Federal Reserve Chairman Jerome Powell, who signaled a 50-basis-point rate hike at the central bank’s December meeting. Inflation For October (latest data), the Consumer Price Index registered a 7.7% increase over the previous twelve […]
December 1, 2022

Adapt or become irrelevant.

Prior to when Uber and Lyft launched, taxis ruled the roads. Medallions to operate a taxicab were worth millions of dollars, kept for a lifetime, and then passed down to the younger generation. Taxis controlled transportation, from pick-ups at the airport to dictating the work commute and just about everything in between. Taxis had no real competition. But the quality of the product? That was average at best (as long as you arrived in one piece). The customer experience? Well, there really was none to note (unless you happened to sit in gum). And then…BOOM! Uber and Lyft arrived, completely changing the […]
November 24, 2022

Some things change. This never does.

So much is happening in the markets, in the economy, in the world. As a financial advisor, even as more things change, they really just remain the same. We ask questions. We listen. We ask more questions. We listen more. We go deeper. We look our prospects, friends, and clients in the eye, telling them that we’re here to help, acknowledging what’s most important. And then, we get to work, implementing solutions that give them a clear path to reaching those goals. Times change, and so do the words we use, but the sentiment never falters. In 1995, it was, […]
November 17, 2022

How much is enough?

How much is enough? I got together with a client and friend for lunch yesterday. He shared his most recent successes. Mike is someone who I like and respect. He started his company out of his garage at only 18 years old before heading off to Vanderbilt for college. Over the first 15 years of his company’s operation, he took only $1 million dollars total out of the business – but quickly put it all back in. Then, four years ago, private equity came in. BOOM! His 40 percent stake was worth $30 million. And just two weeks ago, Boom! It […]
November 10, 2022

Friday Thoughts: Ten years of choices, and this one stands out

Last week, we celebrated the ten-year anniversary of our firm. (Although our actual anniversary is November 30th.) What made last week so special was not just celebrating the firm’s success over these ten years (or 3,650 days – but who’s counting?!). More than that, it was such a golden occasion because I got to see all of our people together. From near and far, they traveled in from all over the country just for the momentous event. Friends and peers acknowledged our success with thoughtfully written notes, gift baskets, and more than a few bottles of wine. As busy as I […]
November 3, 2022

As my firm turns ten years old, here’s what I’ve learned.

In 2010, I decided that the firm where I worked, where I’d started and spent my entire career, was no longer a fit. It was a decision I did not take lightly. I also had NO idea what to do about it or where I wanted to go. But what I did know was: I was not afraid of a fight. I wanted to work hard. Feeling like I was growing was important. Entrepreneurship was definitely for me. I believed in myself, And also believed in teamwork and partnerships. Deep down, I knew I could do more and be more. […]
November 1, 2022

October 2022 Market & Economic Recap

Stock market recap The markets made a comeback in October, snapping two months of losses for all major indexes. For the month, the three major indexes performed as follows: Dow Jones Industrial Average +13.96% S&P 500 +7.99% Nasdaq Composite +3.90% For the Dow, it was the best month for returns since 1976. The next two weeks will be pivotal to see how the markets respond going forward. A Fed meeting that’s surely to see another big rate hike (Nov. 1-2), the CPI (inflation) report (Nov 10), jobs/unemployment report (Nov. 4), and even midterm elections (Nov. 8) all will be closely […]
October 27, 2022

Friday Thoughts: Action vs. Inaction

In 1966, Manny came to this country not speaking any English. He enrolled at Hamilton High School in Los Angeles and began his life here in America. His first week, a young man showed up at school with a gun. Coming from Latin America, Manny had seen many things. Growing up, he’d always been taught to take action, whether in school, in life, or when there was a conflict. With that in mind, seeing this young man with a gun and the danger he presented, Manny moved quickly. He went right up to the boy, reached back, and swung as […]
October 20, 2022

Lessons from the Lone Survivor.

Have you heard of Marcus Luttrell, better known as the “Lone Survivor?” I’ve known Marcus for years now, first introduced through friends and then seeing him speak several times. For those who aren’t familiar, I’ll leave it to Wikipedia to fill you in: “Marcus Luttrell is a retired United States Navy SEAL who received the Navy Cross and Purple Heart for his actions in June 2005 against Taliban fighters during Operation Red Wings in which he was the lone survivor.” For some reason, he popped into my head this morning. Specifically, I recalled a talk he gave about ten years […]
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