Wednesday Reading List

S&P 500 Valuations Are Nuts. Why People Are Still Buying. by Barron’s

Valuations have jumped recently, perhaps due to performance chasing, more liquidity in the system, or AI driven tech stocks getting frothy. In the short-term valuations don’t tell you much about stock market performance, but if corporate earnings don’t catch up to these valuations that could be a long-term headwind for the market.

See also: Bull markets are usually longer and stronger than this 🐂 by TKer

Besides the information in the headline, shares why stocks can go up from here (stocks usually go up, valuations don’t drive short-term performance, and forward earnings are looking up.

Will Mexico Decide the U.S. Election? by The New Yorker

Fixing the border problem isn’t as simple as you would think when you consider the economic consequences both the U.S. and Mexico would face by closing it down and restricting trade.

See also: What Biden’s new border action means for migrants

Beware the retirement savings ‘time bomb,’ tax expert warns by Yahoo Finance

Calling retirement accounts tax bombs can lead to make poor financial planning decision making as it’s a hyperbolic statement that ignores the benefits of saving for retirement through these vehicles, but it is worth reading this article to understand that good tax planning during retirement is important if it can help you pull money out of retirement accounts at lower tax brackets.

Pending Home Sales Slumped 7.7% in April by National Association of Realtors

Residential real estate is slowing down in all four U.S. regions to the slowest point in 23 years.

IRS opening free online tax filing program to all states by Axios

The Treasury Department on Thursday announced that the IRS’ Direct File program, a free online tax filing program, will be made permanent for the 2025 tax season with all 50 states and Washington D.C. invited to participate.

Employee Stock Purchase Plans by Heritage Financial

Employee Stock Purchase Plans (ESPP) declined in popularity in the 2000s because of the spectacular collapse of Enron, accounting reforms that increased costs to employers, and the Great Recession. But interest has steadily returned since then, as they are an attractive benefit to a broad base of workers and a less costly choice than stock-option plans. If you have access to contribute to an ESPP or might move to a new employer with a plan, here are some things to keep in mind and questions to ask.

Latest Book Recommendation

An Ordinary Man: The Surprising Life and Historic Presidency of Gerald R. Ford by Richard Norton Smith

From the preeminent presidential scholar and acclaimed biographer of historical figures including George Washington, Herbert Hoover, and Nelson Rockefeller comes this eye-opening life of Gerald R. Ford, whose presidency arguably set the course for post-liberal America and a post-Cold War world.

Things to Do in Boston This Weekend

Things to Do in Boston This Weekend

The Boston Calendar

Things to Do This Week in Boston