Timeless Wisdom from Warren Buffett
At a Glance Buffett’s career reinforces a timeless lesson: successful investing depends more on discipline and temperament than predicting markets. Market bubbles and downturns are inevitable. Long-term investors who resist fear and hype are better positioned to stay on course. Time is the most powerful force in investing. Starting early and staying invested are key...Continue reading→
The Power of Purpose in Retirement
At a Glance Retirement isn’t just financial — it’s psychological. Losing structure, identity and daily rhythm can affect both mental and physical health. Unstructured freedom can backfire. Research links social isolation and loss of purpose to higher risks of dementia, heart disease and premature mortality. Purpose must be designed. A fulfilling retirement requires intentional planning...Continue reading→
2025 Market Review & 2026 Outlook
At a Glance US large cap stocks: +17.88% (third consecutive double-digit year) 2026 earnings growth projected near 15% (Wall Street consensus) Elevated valuations and concentration reinforce disciplined diversification Equity markets delivered a third consecutive year of double-digit returns in 2025. Several crosscurrents shaped 2025 market performance — from earnings strength and AI enthusiasm to shifting...Continue reading→
2025 Tax Changes: What Affluent Families Should Review Before Filing
At a Glance Higher thresholds, but limited impact for high earners. The standard deduction and Child Tax Credit increased, though many new deductions phase out quickly at higher income levels. Estate exemption remains elevated. The lifetime gift and estate tax exemption rose to $15 million in 2026, providing clarity for long-term gifting and trust planning....Continue reading→
How to Have Family Conversations About Money
Money plays a role in so many of the decisions we make, yet it remains one of the last true taboos in American life. Despite its importance, 62% of people say they don’t talk about money at all—not with family, not with friends and in nearly half of cases, not even with their spouse or...Continue reading→
Are We in an AI Bubble? A Long-Term Investor’s Perspective
At a Glance Are we in an AI bubble? No one can know in advance—and long-term investors don’t need to. Predicting bubbles is far less important than building portfolios that can endure them. Today’s AI boom is different from past bubbles, but market concentration is real. A small group of companies now drives a large...Continue reading→
In recent months, two themes have dominated investor conversations: AI investing and the renewed belief in gold as a timeless safe haven. Both trends have resurfaced at the exact moments when crowd enthusiasm is high. That’s why we’re taking a closer look at the gold safety myths and the rising excitement around artificial intelligence as we enter the final stretch of 2025.
It’s our pleasure to report on the progress of your long-term financial plan through what proved to be a highly instructive first half of 2025. If markets seemed unusually dramatic, it’s only because they were, but not in ways unfamiliar to seasoned investors. Let me begin by restating a few principles that have guided us…
The first quarter of 2025 served as another vivid reminder that while history doesn’t repeat itself in investing, it often rhymes. We entered the year amid considerable volatility, as the largest technology stocks fell into bear market territory, triggering the seventh-fastest 10% correction in the S&P 500 since 1929. This correction gained momentum following President…
Over the years, I have spent more ink cautioning investors about the perils of bear markets rather than celebrating bull markets because discipline is tested in tough times. However, as evidenced by today’s somewhat stretched valuations, let’s talk about the other great pitfall: the fear of missing out (FOMO).
“The first rule of compounding is to never interrupt it unnecessarily.”
—Charles T. Munger
As we navigate a world of shifting dynamics, it’s wise to stay grounded in the fundamentals.
I am pleased to update you on our progress in the first half of 2024. Before examining the current market landscape, it is worth reflecting on what our disciplined approach has delivered so far.
While strong market performance is encouraging, it can also trigger a less favorable response within the investment community. On the opposite end of the spectrum from selling during market downturns, some restless investors might be tempted to chase after speculative trends, no matter how closely they resemble past “Fear of Missing Out” (FOMO) frenzies.
The unpredictability of markets became evident in 2023, as The Wall Street Journal aptly reported: “Almost no one thought 2023 would be a blockbuster year for stocks. They could hardly have been more wrong.” As we step into the new year, it brings the opportunity to reflect on the intricacies of the equity markets, not…
Contemplate how invaluable your steadfastness is to those you love and care for. This is the gift you give.
As we find ourselves at the midpoint of the year, it’s an opportune moment to reflect on the long-term journey we’ve embarked upon together in the realm of investments. The financial landscape has unveiled its latest chapters, and I am pleased to share our insights and observations with you.