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January 12, 2024
I started writing these weekly messages on March 16, 2018. That makes 302 Friday Thoughts in the books. And with today’s message and the first one of 2024, that makes 303. What I have learned over these last five+ years is that all things will pass. Difficult times – and times of great success – pass us by, always changing. I’ve also come to the conclusion that focusing on the past is never a good idea. However, knowing where you come from and what it took to get you to where you are today are critical components for continued success. […]
January 5, 2024
‘A young man, 24 years old, successful, hard-working. He went to dinner with his grandparents one evening at their request. The three of them sat down at the table, ordered drinks, and started chatting. Soon, the waiter came by to check-in. But no one was ready to order just yet. As they continued their conversation, the Grandmother asked the young man what motivated him to work so hard. “You really want to know?” the young man responded. “Yes, of course,” she replied with a big smile on her face. “I want to make you and Grandpa proud of me,” the young […]
January 1, 2024
Stock Market Strong market headwinds pushed stocks higher through December, continuing November’s rally and nearing record highs before falling just short on the last trading day of the month – and the year. In all, the S&P 500 closed just 0.6% below its record high of 4,796.56 on January 3, 2022. The index rose for a ninth straight week to end December, Q4, and 2023, the S&P 500’s most substantial quarterly gain since Q4 of 2020. Wall Street’s three major indices all finished December positive, adding to their strong gains in 2023. The Nasdaq climbed a remarkable 40%+ over the […]
December 29, 2023
Product or Progress? When Steve Jobs came up with the idea for the iPhone, was he looking for the next phone? The next minicomputer? The next big Apple product to sell? Or was he trying to advance civilization? Was his fire stoked by trying to improve how we lived and worked? Or just profits and getting rich? Was Jobs focused on the product or on progress? When we head to the gym, the health food store, or, for that matter, to our therapists, nutritionists, or doctors, are we concerned with the products or services they offer? Or is our sole […]
December 22, 2023
“Thanks so much for coming up today,” Tim said. “My pleasure,” I replied, having flown up just to meet with him. “It’s always so much better to meet in person. ‘Get to know you and you, me,” he said. “I agree.” Never having met him before and chatting over the phone a few weeks earlier, I was curious as to why he had asked me to fly all the way here to meet this morning. He dove right in. “So, I have gifted $150 million to our IDGT, and my wife has done the same. We have also purchased in our trust […]
December 15, 2023
“Morris is getting worse,” he said. Michael wept while sharing the news. “He remains unable to speak. I’m concerned that as he gets older, we will need to place him in an institution. I don’t think we’ll be able to manage this much longer.” “And Aimee is so sweet,” explaining how his daughter was trying to help despite her own serious issues. “But with her C.P., she will need back surgery to fix a problem she has with her spine.” “I also worry about how the world will treat her,” he went on. “She is beginning to become aware that she is […]
December 12, 2023
Convincing signs that we’re moving closer toward 2% inflation keep adding up. When October’s PCE inflation data was released, it was very similar to the CPI data earlier in the month. The report revealed headline inflation grew only 0.049%, a welcome revelation compared to expectations of a 0.1% increase. Similarly, core inflation rose only 0.163% versus consensus estimates of a 0.2% increase. Even stripping out more volatile shelter costs, inflation is running below 2% on an annualized pace over both a three-month and six-month timeframe. Even if we zoom out to the last nine months, we’re looking at annualized inflation […]
December 8, 2023
I have been reading (yes, me reading!) the book Be Useful by Arnold Schwarzenegger. It’s just amazing what this man has done with his life. What stands out among many themes is how Arnold blames no one for anything. According to his philosophy, you get what you get and build what you make of your life. In one of the chapters, Arnold speaks about his life, dealing with his father, and his challenges. He reveals how he chose (and still chooses) not to allow those things to impact who he is. He talks openly about the fact that many of […]
December 2, 2023
Stock Market Markets rallied in November on the basis of a stronger-than-anticipated economy, resilient consumer, tempered inflation, and the realization that the Fed will likely pause rate hikes. For the month, Wall Street’s three major indices performed as follows: The Dow +8.8% S&P 500 +8.9% Nasdaq +10.7% In November, both the S&P 500 and the Nasdaq Composite saw their biggest monthly gains since July 2022, and the Dow broke its three-month losing streak in bold fashion. Inflation November’s highly anticipated Consumer Price Index report revealed the cost of goods and services remained flat from October, with annual inflation increasing […]
December 1, 2023
Well, another Thanksgiving in the books. This one had extra special meaning for me. It marks the second year in our new home and new town. It’s been a year very much in transition, both professionally and, in many ways, personally. I can honestly not think of a year where I thought more about my mortality than this one. ‘Seeing my children continue to grow and mature, watching what they do and how they think about things. And how we influence those behaviors, good and bad. I’ve thought a lot about how different my life has turned out than what I had […]