Last updated: 5 Sep 24 21:12:17 (UTC)

Michael's Client Newsletter #150, September 2024

Greetings Valued Clients, welcome to my September Client Newsletter #150 for the goal-focused, long-term, equity investor.

The Imaginary Apocalypse (on what I have elected to call it) was the violent yet ephemeral market event which took place in the first week of August.

Scarcely a month later, it looks like ancient history, to the extent anyone still remembers it at all. Thankfully, none of you signaled that you could never be long-term equity investors.

Toward month’s end was, if possible, something even more ridiculous: the hysteria over Nvidia’s quarterly earnings report.

On Monday, financial journalism and the larger commentariat were covering this report as if it had the potential to shake the very foundations of the AI boom and even of the broader stock market itself. On Tuesday, the hysteria was expanded to the report’s being an existential threat to the larger economy. And by Wednesday morning, it was being reported as the potential end of Western civilization.

The Imaginary Apocalypse and the Nvidia earnings madness have, I believe, moved us past the trivialization of the stock market to the infantilization of it – all in the space of a calendar month. If there were ever a time to tune out the noise and stay focused on our long-term plan that has always worked, surely this is it.

Nick Murray’s September Client’s Corner

Recession What Can Investors Really Know and What Should They Do

Every month Nick Murray publishes a brief client newsletter for the Lifetime Equity Investor. I hope you find it as valuable as I do.
Click the title/image above or open the attached PDF.
Nick’s previous Client’s Corners are here.

Financial Tip of the Month

Variable Annuity Tip #1

One benefit of variable annuities (VA) is to generate a guaranteed monthly income while staying invested in equity mutual funds. Once you are approximately 10-years away from taking retirement withdrawals is the time to consider a VA.

They tend to be complex products, so feel free to ask me for details.

Podcast of the Month

Risky business: Investing in troubled companies

Evaluating troubled companies can uncover both risks and opportunities. Capital Group analyst Todd Saligman and portfolio manager Steve Watson explain how they approach investing in companies during times of crisis.

Video Interview of the Month

Featuring Winnie Kwan

Capital Group CEO Mike Gitlin interviews Winnie Kwan, an equity portfolio manager based in our Hong Kong office. As one of Morningstar’s top female fund managers of 2024, Winnie discusses her investment edge, what she learned from the Asia financial crisis, and how she applied those lessons years later in the global financial crisis. She also shares her thoughts on investment themes driving the rapid growth of emerging markets.

Financial Book of the Month

Simple Wealth, Inevitable Wealth

By Nick Murray.

This is the best book I’ve ever read for understanding the fundamentals of our investment philosophy. Required reading for all your clients and our Advisors.

Money Memes and a Little Humor

P.S Did you find value in this newsletter? Don’t keep it a secret! Feel free to forward this email to your friends.

Resources

About Me

Michael Paulding Thomas Financial Advisor, Registered Representative, Securities Principal Series 6, 26, 63, 65, Life

Since 1989 I’ve tried to build my business by offering a second opinion to those who may need investment advice. As a result, my business now comes almost exclusively via introductions from existing clients. So, if you’re approached by a friend who may have questions about investing, please let them know that I will find the time to listen, and I’ll do my best to help.

^{Securities offered through Innovation Partners, LLC. Member FINRA/SIPC}