ICYMI: Best Books I Read in 2024 and The Full Story on U.S. vs. International Stocks
The US stock market has never been more concentrated. Does it matter? by Financial Times
U.S. large tech is dominating the global stock market, the top ten holdings in the S&P 500 represent a modern-day record of 37.3%, and 26 names make up half the index’s value. If those stocks tank, the U.S. market will suffer, but concentration in and of itself can be a poor gauge of market risk according to this article worth reading since it looks at the topic from many angles.
A Cautious Take on the New Year’s Market by Professor Jeremy Siegel
One of my favorite market commentators is apprehensive to start 2025 due to policy uncertainty (tariffs and less impactful tax moves to make), valuations, the potential for rising bond yields, and not enough signs of a market rotation. He sees a potential market correction and Nasdaq bear market in the cards.
On Bubble Watch by Howard Marks
After first sharing his definition of a bubble (temporary mania caused by a few things, no price too high in particular) and breaking down that definition further while looking at past bubbles, Marks shares a few things to be concerned about in this market (optimism levels, valuations, AI euphoria, bitcoin) while also noting that we may still be short of a nutty, price is too high mentality.
Insurers Are Deserting Homeowners as Climate Shocks Worsen by The New York Times
Since 2018 almost two million homeowner’s insurance policies have been dropped and in more than 200 counties, the nonrenewal rate has tripled or more. Without insurance, people can’t get the mortgages most need to buy homes.
See also: Insurance and Taxes Now Cost More Than Mortgages for Many Homeowners by The Wall Street Journal
5 Estate Planning Goals for 2025 by Heritage Financial
As we begin 2025, we enter a time of fresh starts and thoughtful reflection, making it perfect for setting some meaningful goals and resolutions. One often overlooked, yet important, yearly resolution is ensuring our estate and legacy planning goals are in place. Here are five goals to consider.
Book Recommendation
Two crime thrillers I read over the holidays that I enjoyed were: The Butcher and the Wren by Alaina Urquhart and Open Season (A Joe Pickett Novel) by C.J. Box
Boston Corner
Silver linings in Boston’s clouded real estate market by Axios
Credit Card Delinquencies: Are New England Consumers Better Off? by Federal Reserve Bank of Boston
This New England Public Policy Center Regional Brief looks at how credit card spending and borrowing in New England and in each of the region’s states in recent years compare with such consumer behavior in the rest of the country. It finds that New England consumers are more likely to have credit cards, they use credit cards more intensively, and they are less likely to revolve, which is consistent with New Englanders, on average, being wealthier and more educated than other US residents.
