Wealth Management News & Insights
What is Compounding, Supreme Court Strikes Down Student-Loan Forgiveness Plan, Record-Breaking Travel Expected July 4th Weekend
Our Work
Investment Insights – Keith R. Schicker, CFA, Partner & Portfolio Manager
- What Is Compounding? Compounding is one of the most underappreciated concepts in finance and, when properly sustained over time, definitively the most powerful. [Investment Insights]
Financial Markets
- JPM Letters to The Editor: Comments on mega-cap stocks and artificial intelligence during the narrowest market leadership on record. Then, since it’s the beginning of summer, it’s time for some of my unsolicited letters to Barron’s, MSNBC, the “No Labels” US political movement, the Federal Housing Finance Agency, the Urban Institute, the National Housing Conference and Jeep. [JPM]
- U.S. Economy Shows Surprising Vigor in First Half of 2023: Layoffs remain historically low and the economy grew more briskly than estimated. [WSJ]
- Nobody Wants to Buy a Fixer-Upper Right Now: Homes that need extensive renovations are scaring off already cash-strapped buyers, real-estate agents say. [WSJ]
- Supreme Court Strikes Down Biden’s Student-Loan Forgiveness Plan: Case pushes to the fore different views of executive power espoused by White House and Supreme Court. [WSJ]
- Who’s Impacted by the Supreme Court’s Student-Loan Forgiveness Ruling: More than 16 million borrowers who thought their loans would be forgiven have to repay. [WSJ]
Financial Planning
- Only 50% of People Stay Employed Through Their 50s. How to Prepare: Common retirement advice assumes 50-somethings are in their top earnings years. Unfortunately, there’s more to the story. [Barron’s]
- Forget the Cost of Living. What’s the Cost of Thriving in America: Two conservative thinkers clash over whether the middle class is more prosperous than a generation ago. [WSJ]
Business Strategy
- Why Duolingo Has Replaced Many TV Ads With Free TikTok Posts: The language-learning app now relies more on memes—helping it climb to 20 million daily active users. [WSJ]
- Overstock Sees a Future in Calling Itself Bed Bath & Beyond: The online retailer is renaming its website and its mobile app after buying the intellectual property of the bankrupt home-goods store. [NYT]
- Delta Lifts Profit Forecast Thanks to Strong Demand and Premium Tickets: Delta Air Lines on Tuesday raised its second-quarter forecast and estimated full-year adjusted earnings of $6 a share. [CNBC]
Life & Work
- Chicago Air Quality Plummets as Canadian Wildfire Smoke Returns to US: The Air Quality Index reached levels considered ‘very unhealthy’ in some areas. [WSJ]
- Canadian Wildfire Maps Show Where Fires Continue to Burn Across Quebec, Ontario and More Provinces: Canada is experiencing its most destructive wildfire season on record, as hundreds of blazes burning from coast to coast continue to send tremendous plumes of smoke into the atmosphere. [CBS]
- Solving for Gen Z in the Workplace: Generation Z is coming into its own. Savvy companies will consider what differentiates these 13- to 27-year-olds—in the workplace and as consumers. [McKinsey]
- Record-Breaking Travel Volumes Expected July 4th Weekend: Number of Americans traveling by car and air over the holiday projected to be highest on record. [Newsroom]
- Why Air Travel Is a Mess Ahead of July Fourth: United Airlines continued to scrap flights Thursday as other airlines begin to recover from storms that forced them to cancel thousands of flights this week. [WSJ]