On this weeks show we look at inflation during various periods of time in the US. How important is a 2% target? Well, there are long periods higher than that when we did well. There are others that are artificially low. Also, we start looking at 2024 outlooks with a review of one firm’s published forecast for next year. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, references six common investor mistakes he has continually seen over the years and contextualizes them in the current market backdrop. He has comments on the dangers of over-concentration, investing off yesterday’s news, market timing and other problematic investor behaviors. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

We wrap up a very strong recovery in the stock and bond markets by looking at how much we may have borrowed from future results, where we can still find returns, and a look at a name the drug sector. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, urges investors to filter out the current noise and headlines to focus on what’s actually happening in the markets and economy. He presents some of the current realties to provide a balanced outlook framed within some historical perspective. He also reviews the latest earnings and news from DIS, AAPL, MDLZ and STZ. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

This week we feature the results of two core holdings, one of which is struggling and one of which is soaring and talk about why we’d stay the course on both for now. MSFT DHR The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, discusses how most stocks in the broad US stock market are negative so far year and how in many cases conservative investors have been punished the most. However, he cautions against over-trading and giving up on short-term poor performers and emphasizes how on the fixed income side today’s headwinds could become tomorrow’s tailwinds. He also references some positive aspects of the US economic outlook that may have been lost amid negative headlines. He reviews the latest earnings reports from GOOGL, MSFT, T, VZ and FI.

On this week’s show, we diagram how black swan events happen in the markets, how to be prepared for them and how to react when they happen. Without being able to predict them, reflecting on previous ones and visualizing our behavior can ready us for when the next one comes around. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, notes how, in addition to the recent inaccuracy of consensus economic and market forecasts, many of the traditional relationships between asset classes, economic variables and price trends have not held true. He then discusses the narrow breadth of the stock market, the sharp underperformance of dividend-paying stocks and dispersion in sector performance. He highlights the severe sell off in bonds and what current yields could suggest about future bond returns as well as stock performance. He talks about some of the headwinds facing the Consumer Staples sector and KO, MDLZ and STZ as possible names to consider. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

This week, Matt Anderson discusses I-Bonds and whether now is a good time to consider other alternatives.  He provides a brief overview of I-bonds, the importance of knowing your investment objective for owning the bonds and an analysis of how to view the bonds in terms of the projected interest rate reset in November.  In the second half of the episode, Matt pivots to discuss a recent report titled “Spending Trajectories After Age 65”.  In this report, the researchers analyze retiree spending trends and conclude that spending is not constant but decreases over time.  Matt talks about how to employ this information in improving our retirement modeling.    The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, discusses some of the reasons for the current September swoon in both stocks and bonds. He talks about an incrementally more hawkish Fed, a strong dollar, government shutdown concerns and seasonality. He cautions against reacting too strongly to the uptick in volatility and suggests that maintaining proper portfolio balance is very much appropriate. If there is an inflection down in the economy and/or interest rates in the coming months, market leadership could shift dramatically. He also provides some of the recent news flow and investment cases for COST, STZ and KVUE. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

There's nothing in the street. Looks any different to me. Pete Townshend wasn’t talking about economics, but it explains today’s environment, which isn’t new and it shouldn’t be a surprise, but this week we look at the market’s reaction to the reality that this is instead a return to normal, and we won’t get fooled again.   The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, argues that the financial headlines often focus investors on the wrong things, while more salient, market-driving developments get less attention. He provides examples within the economic data, examines earnings trends, looks at valuations and considers the potential opportunity in bonds. He also reviews the recent underperformance of the Consumer Staples sector and how both MDLZ and STZ screen attractively.  The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees.This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

The market rode growing expectations that lower interest rates are not on the horizon. The economy remains strong and employment remains robust, but a few factors scared the inflation assumptions further higher, and they’re not under the Fed’s control. Could that result in stagflation? We’ll look at that this week along with a focus on a tough week for Apple. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, offers some timely observations on investor behavior and highlights a few positive aspects of the economy flying slightly under the radar. He also encourages investors to not overly fixate on recent bond market losses and, instead, understand how the highest fixed-income yields in 15 years will likely drive better returns going forward. He suggests how MMM and NEP - high-dividend paying, out-of-favor names – might be interesting for patient investors. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Too often assumptions seem to allude to the markets returning to the realities of the last decade, instead of how the economy functioned for decades and decades before the Great Financial Crisis. This week, we look at why we should likely assume this is normal and it’s not bad if you accept it. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, discusses how the outlook for corporate earnings, corporate balance sheets and consumer spending are still heathy and likely a greater source of market stability than generally recognized. He notes that, based on historical norms, it would not be surprising nor damaging over the longer term if the current market consolidation morphs into a correction. He talks about the rationale for DAR as a new WIG portfolio holding and comments on the quarterly results from UPS and AMZN. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

This week we’re absorbing key inflation data and looking at how it’s giving some needed relief to the financials and then a look at the results and road map for Disney, with various reactions to their quarterly call.  The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon thinks about the nearly complete recovery of the stock market to the previous all-time highs and considers how effective the KISS rule (Keep it Simple, Stupid) has been for investors. He highlights seven observations of market and investor behavior that reinforce how simple, straight-forward thinking usually trumps esoteric, complicated strategies and products. He also highlights the latest news from JNJ, UPS, CB and GOOGL. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Gregory S. Smith, CFP®, ChFC®, CPWA®, CTFA covers the nuances of the Secure Act 2.0 legislation including impacts on inherited IRAs, 529 plans, qualified charitable distributions, and required minimum distributions. Discussing how the changes like higher QCD limits, conversion of 529 funds to Roth IRAs and a pushed-back RMD age can benefit savers through strategies like Roth conversions, social security claiming and tax planning.    The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, discusses how changes in the trajectories of key economic and fundamental variables often influence financial markets the most. He highlights changing inflation rates, evolving perceptions about the influence of higher interest rates and an uptick in positive analyst earnings revisions as key reasons for recent strength in stocks. He also highlights some of the litigation overhang on T and MMM, as well as recent news flow from DHR and JNJ. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

This week we look at some very bullish conditions that give us hope the market can continue, albeit met with reasons to be prudent. The market DOES believe the Fed will hike again, but accepts that it’s almost over and we’ve survived the worst. Some sectors are in bad shape and this week we’ll talk about one which is hit by all this, while others have brighter futures. Also, a return to a potential value in a consumer staples. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, explores how the first six months of the year recall several timeless investing lessons: bad news sells, short-term market predictions are folly and contrarians are usually wrong. He also discusses the reduced odds of a recession, at least for now, and how to think about the stock market’s continued top-heaviness. He highlights the most recent news flow from STZ, APTV and UPS. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors.

This week we look at the latest in economic data and then contrast different approaches to investing, including the different schools within the Value camp. Later, an update on Fiserv (FISV).   The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

This week we reflect on where the markets been the last 6 months, 18 months, 15 years, and 50 years. We identify that really the capital markets are very well positioned compared to many points in history, that last year was historically worse than it felt, and that we have reason for cautious optimism today.  The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, discusses how earnings resilience is still a key reason to not dismiss the case for a new bull market. He also highlights how poor market breadth and profit recessions do not automatically lead to bad stock markets. The interplay between hopes for a “soft landing” and a still hawkish Fed will continue to influence trading. He suggests the overall market is not as expensive as the headlines indicate and that REITs, in particular, could be a value area to consider. VICI and FRT are two names to keep in mind. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, discusses the importance of not directly conflating an economic outlook with a stock market opinion. However, he also notes that some forecasts for recession have become more tempered recently and how there is a solid case for a more benign slowdown. He notes how there exist potential macroeconomic, valuation, market positioning and asset flow catalysts for a potential leadership shift from Growth to Value Stocks. He also highlights some recent news from AVGO, MMM, AAPL and STZ. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

We’ve been able to move past the US debt limit crisis and refocus on our lingering fears, of higher interest rates and lower earnings. This week we look at what’s driving new concerns of more rate hikes and a value name to consider if the market turns South. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Portfolio Manager and Managing Director, discusses the current landscape including debt ceiling concerns, the intense bifurcation in the stock market and interest rates rising anew. He suggests the case for investor optimism is being buried in all the negativity and that better than expected earnings, healthy consumer balance sheets and still relatively tame credit spreads argue against a severe negative outcome. He also talks about AI with respect to MSFT and GOOGL and highlights MRK and CB as potential values. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

We’ve pivoted from a focus on the Fed to a focus on default but today we’ll focus on the consumer, their unemployment levels, and the results from their leading brands. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, discusses how the market’s attention could shift from constant Fed watching to economic and company-specific fundamentals. The resilience of profit margin strength will be a key focus as the overall economy continues to slow. He mentions the market’s historically narrow breadth that is obscuring overall market weakness and what it means for investors. He also suggests that investors should increase duration in their fixed-income portfolios with a Fed pause at hand. He references the latest earnings reports from AAPL, AMZN and BRK.B. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

This week the Fed may have reached the end of their tightening cycle. They delivered what was expected but the markets didn’t like it. Why not, what’s next, and a bunch of earnings discussed on this weeks podcast. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, cites the historical evidence suggesting that being permanently bearish is a failing strategy. He also frames the current bull and bear narratives and suggests that a negative outlook needs to be more nuanced. He then examines the pros and cons in the latest earnings reports from MSFT, GOOGL, V and DHR. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

This week we lament the market’s shift from struggling with the Fed raising interest rates to the market struggling with the effect those hikes are having on the economy. While we haven’t been able to find much relief, we’ll also talk about Tractor Supply, which may be better positioned that other consumer retail names. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

Simon Hamilton, Managing Director and Portfolio Manager, discusses the resiliency of the stock market in light of growing recession fears and falling earnings estimates. He expresses optimism that markets often bottom well before corporate earnings but has concerns around elevated valuations, overly optimistic earnings forecasts and how a small number of names have been responsible for most of the market’s positive returns this year. He encourages “bottom up” analysis and a focus on individual company execution. He also considers the recent news flow from AAPL, STZ and JNJ and weighs their various headwinds and tailwinds. The information contained in this podcast represents the opinions of the hosts and guests and does not necessarily represent the views of Raymond James and Associates, Inc., The Wise Investor Group, or their respective affiliates and employees. This podcast is for investor educational purposes only and is not intended to provide, and should not be relied on for, investment advice. The contents of this podcast do not purport to constitute a comprehensive summary of all information necessary to base an investment decision. Past performance is not a guarantee of future results. Securities mentioned in this podcast may not be suitable for all investors. Seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your individual situation. Discuss any tax or legal matters with the appropriate professional advisors. Raymond James and Associates, Inc., member New York Stock Exchange, SIPC.

This week, the US markets were confronted by a series of disappointing labor reports and the World Bank warned against a lost decade of global growth. We’re shifting quickly from worrying about inflation to worrying about revenues, but inflation isn’t beaten yet.

The most aggressive rate hikes in history has started to break things in the economy. This week, we look at the risks of it getting worse, the erroneous values of banks, and the downside risks to earnings estimates, while finding value in a more traditional fixed income approach.

Simon Hamilton, Managing Driector and Portfolio Manager, discusses the volatility in the stock and bond markets following the most recent rate hike from the Fed. He talks about the signals bond yields and sector divergence in the stock market are sending. He also provides some further commentary on the recent bank collapse and starts to look at some of the potential repercussions that could be felt for some time to come. 

Simon discusses the stock and bond market reactions to the recent troubling news flow from the banking sector. He talks about the risks of investment concentration as well as some additional background on what has fueled the uptick in volatility. He notes that individual investors should not make the same mistakes in their own fixed-income portfolios. He also suggests corporate earnings could potentially be more resilient than some are forecasting. 

This week we continue to look at the evolving and losing battle against inflation, our failures to attach it from the supply side, and then a examination of the root cause of a new threat to the markets, which may be limited or the start of something bigger.

Simon Hamilton, Managing Director and Portfolio Manager, discusses the vacillating stock market narrative and how trying to divine the timing and magnitude of sector movements may be a fool’s errand. He examines how stocks have fared in similar elevated rate environments and how the inflation trajectory will likely be more impactful. He also makes the case for locking in current bond yields and to consider longer-dated maturities. He offers some counsel to younger investors by examining the trading habits of millionaire investors and how savings rates influence wealth creation more so than returns. Disclosure: Holding investments for the long term does not ensure a profitable outcome. Sector investments are companies engaged in business related to a specific sector. They are subject to fierce competition and their products and services may be subject to rapid obsolescence. There are special risks associated with investing with bonds such as interest rate risk, market risk, call risk, prepayment risk, credit risk, reinvestment risk, and unique tax consequences. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. The Bloomberg US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market. Inclusion of indexes is for illustrative purposes only. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transactions costs or other fees, which will affect actual investment performance.

A year after Russia invaded Ukraine, we look at the financial impacts the war has had. Where did the initial headlines drive the markets and what are the tangible impacts (financially) now that we’ve normalized the war.

Simon Hamilton, Portfolio Manager and Managing Director, notes the rapidly changing market narrative and how most recently markets are pricing in incrementally more rate hikes from the Fed. He talks about harnessing emotions in such a volatile environment and how it is important to not play the “regret game”, rely on stock tips from the media, or chase past performance. He also offers a few thoughts on the U.S. debt ceiling and some historical stock market return figures.  

As the consensus grows for a soft economic landing, so does the consensus for lower returns going forward. This week we discuss that while the economic data continues to be reasonably good, the market may have already priced in good outcomes and leaves little room for improvement.

Simon Hamilton, Portfolio Manager and Managing Director, cautions against leaning too much into the rapidly shifting “soft landing” narrative as well as the reversal of last year’s defensive stock outperformance over growth. He suggests that investors should maintain proper portfolio balance rather than chasing the latest sentiment trends. He also offers some thoughts on historical relationships between multiples and Fed policy and comments on this week’s interest rate hike.

This week we build the case for a soft landing in the economy, which may be looking more possible, but point out the reasons why that doesn’t mean it’s back to the races for the stock market.

This week, Simon Hamilton, Managing Director and Portfolio Manager, discusses the difference between mean reversion and a change in trend and how we are not likely experiencing a sustainable resurgence in growth stocks, nor a new bull market. He does suggest that certain reversions such as the nascent recovery of Emerging Markets could have legs. He also looks at the compounding power of dividends, what really drives stock prices over long periods of time and what could happen if we do not in fact get a recession this year.

Recent data has reinforced the case for a soft landing in the economy and the recent inflation and employment readings has made the term Goldilocks a cliché. On this week’s podcast, we talk about what’s led to the popularity of that term and really how much has the market discounted of the economy today.

Simon Hamilton, Managing Director and Portfolio Manager, notes the folly of forecasts and how humility is appropriate here in 2023. He looks back at the terrible market year that was, encourages listeners to not invest by looking in the rearview mirror, and offers a “laundry list” of potential outcomes and market happenings that he feels have a better than 50/50 chance of unfolding going forward.