Wednesday Reading List

July 26, 2023

While there is some historical evidence that valuations may tell you something about long-term returns, that data also shows valuations tell you almost nothing about where stocks will go in the following 12 months.

Sam Ro

ICYMI: Talking Markets with CNBC’s Michael Santoli – Special guest Michael Santoli, Senior Markets Commentator at CNBC joined me for a detailed investing conversation, including what he sees in this market, the recession watch, reasons for optimism, and how individual investors can best use market information disseminated by news sources such as CNBC.

2023 Midyear Market Outlook by Heritage Financial

The team shares its midyear outlook and a look back to expectations for the calendar year and how this market continues to defy expectations.

Commercial Real Estate Is in Trouble, but Not for the Reason You Think by Morningstar

If you’re a multifamily real estate borrower with a bill coming due, maybe. But if you’re an investor, remain calm.

Chart of the Week

Rich and Anonymous by Morgan Housel

There’s an “ideal” net worth for everyone, when money not only stops bringing pleasure but becomes a social liability. And that number is probably lower than most people think.

Spot Bitcoin ETFs Are Coming. Beware the Risk. by Bloomberg

Crypto cheerleader Mike Novogratz urged investors to run the numbers on the digital currency to prove its attractiveness. They don’t back him up.

Threadzilla by Scott Galloway

Galloway chimes in on Threads, Twitter, and Musk versus Zuckerberg as only he can.

Get the Balance Right by Charles Schwab Asset Management

Liz Ann Sonders’ latest. The recent broadening out in market breadth has been accompanied by frothier investor sentiment, but using sentiment as a market-timing tool is tricky (if not impossible).

Aspartame and cancer: Why you really shouldn’t worry about this by ars Technica

I recently shared an article about the WHO’s warning about aspartame. The FDA agrees and here’s the other side.

Book Recommendation

The Soul of an Octopus: A Surprising Exploration into the Wonder of Consciousness by Sy Montogmery

A long-time reader recommended this critically acclaimed book. Finalist for the National Book Award for Nonfiction * New York Times Bestseller * A Huffington Post Notable Nonfiction Book of the Year * One of the Best Books of the Month on Goodreads * Library Journal Best Sci-Tech Book of the Year * An American Library Association Notable Book of the Year

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