Wednesday Reading List
How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.
Robert G. Allen
ICYMI: The Market Isn’t Fighting the Fed – The market continues to churn forward despite a tight monetary policy and further rate hikes coming. Laying out the case for why it’s not the mistake you might think it is.
See also: The Simple Mistake That Almost Triggered a Recession by The Atlantic
Midyear Review: Staying Focused as Markets Shift by Heritage Financial
With six months to go, some questions appear likely to capture investors’ attention for the second half of 2023. What’s ahead for the economy in the US and elsewhere? Will the new bull market charge ahead or take a breath? How long will investor enthusiasm last for all things AI?
Morningstar makes a bold call that housing market affordability will be restored by 2025. Here’s how by Fortune
The average 30-year fixed mortgage rate will fall to 4.00% by 2025, predicts Morningstar.
See also: Housing market inventory is so tight that only one of the nation’s 100 largest markets saw a home price decline in May by Fortune
Chart of the Week
Henry Kissinger explains how to avoid world war three by The Economist
America and China must learn to live together. They have less than ten years.
How to Retire Better, From Retirees Who Learned the Hard Way by The Wall St. Journal
Lessons from retirees on the biggest regrets of their postwork lives.
Meta’s New Threads App Is Terrible. It Just Might Bury Twitter. by Slate
It has one killer feature that’s a nightmare for Elon Musk. Hint: it’s not in the user experience yet, but in how easy it is to sign up.
Three massive forces have fueled the economic expansion for the past two years 💪 by TKer
The unprecedented trillions of dollars worth of excess savings accumulated by consumers, the eye-poppingly high number of job openings, and the record-high levels of core capex orders.
Why U.S. Equities Have Beaten International Equities Since 2010 by Morningstar
Plus, insights from fund managers on whether the trend will continue.
Taking the Temperature by Howard Marks
Howard looks back on his five big market calls to help investors understand what it takes to approach making their own calls.
Podcast version here.
Book Recommendation
The Nazi Conspiracy: The Secret Plot to Kill Roosevelt, Stalin, and Churchill by Brad Meltzer and John Mensch
From the New York Times bestselling authors of The First Conspiracy and The Lincoln Conspiracy comes the little-known true story of a Nazi plot to kill FDR, Joseph Stalin, and Winston Churchill at the height of World War II.