Wednesday Reading List

The trick is to take risks and be paid for taking those risks, but to take a diversified basket of risks in a portfolio.

Jeffrey Gundlach

ICYMI: I’m Only Happy When It Rains – It’s a lot easier to love a market everyone hates.

Markets Heat Up in July by Heritage Financial

Markets posted favorable returns in July as investors found renewed optimism in economic data being reported, even in the face of year-over-year earnings declines. Private credit has garnered attention. The asset class has the potential to provide portfolio diversification and yield above traditional fixed income, but investors must consider the added cost, reduced liquidity and increased credit risk when contemplating an allocation.

Practicing Healthy Habits, Pursuing Wealthy Outcomes by Dimensional Fund Advisors

Investing and health are two of the most important things in life, but sometimes they also can be the most confusing. There’s so much data and advice, so many articles—and unfortunately, they often don’t agree. David Booth looks at the parallels between them and helps you with both.

Chart of the Week

The Scary Math Behind the World’s Safest Assets by The Wall Street Journal

At some point the national debt could be a major problem as the interest payments alone will eat up a big portion of our discretionary spending, which would limit Washington’s room to maneuver in emergencies and cause market distress.

Are Republicans or Democrats Better for the Stock Market? by Retirement Researcher.

This post breaks down all the numbers without getting into the politics of it and then tells you what you would imagine: don’t make investment decisions based on this stuff.

Investing in Artificial Intelligence (AI) by Charles Schwab Asset Management

Jeffrey Kleintop’s latest. As businesses worldwide adopt the technology, the innovation of AI may result in market leadership changes, global economic growth, and investor opportunities.

NBA Analytics Still Has Doubters: ‘There’s No Spreadsheet for That’ & Celtics Exec Mike Zarren Lays Out Insights on Analytics: ‘It’s Created a Dichotomy’

Veteran NBA writer Steve Bulpett with a two-part series on the analytics push in the NBA.

Higher-for-longer rates regime pressures US recession trades by Reuters

How and why investors are rethinking portfolios if we don’t get a recession-induced set of rate cuts soon.

Podcast Recommendation

Bloomberg Radio host Barry Ritholtz speaks with asset management expert Ted Seides, founder of Capital Allocators LLC. His most recent book is “Capital Allocators: How the World’s Elite Money Managers Lead and Invest”

Book Recommendation

Straight Shooter: A Memoir of Second Chances and First Takes by Stephen A. Smith

I enjoyed this book a lot more than I expected to and appreciated the honest self-reflection and showcasing the drive and strategy he used to get to the pinnacle of his career.

America’s most popular sports media figure tells it like it is in this surprisingly personal book, not only dishing out his signature, uninhibited opinions but also revealing the challenges he overcame in childhood as well as at ESPN, and who he really is when the cameras are off.