Charts can be adjusted to fulfill any narrative, so we are always cognizant of the level of inference we take from any one visualization. That said, with a changing of the guard in the White House leading to policies that are almost certain to be inflationary, we are keeping a very close eye on both inflation and rates (as much as we hoped the New Year would bring a change to that post-COVID mantra).
7 Lessons from 2024
A few great data points as we do our final look-back on 2024 and start shifting focus to the year to come. We would highlight numbers two (“Price Targets Are Meaningless”) and five (“Diversification Is Simple, But Not Easy”). On the former…
The S&P 500 is now 690 points above the highest 2024 year-end price target from Wall Street strategists and 25% above the average target
The ones who need little sleep
Most people come to the realization over their lives that sleep is a superpower. Everything in the world is a little bit easier for a well-rested mind and body. Still, we actually know very little about the mechanisms of sleep, and don’t have a real way to determine how much someone needs beyond anecdotes from the individual in question.
We hope your 2025 is filled with good times – without the costly expense of bad sleeps!
For now, researchers recommend that people focus on getting the amount of sleep they need, recognizing it will be different for different people. Ptáček still bristles when he hears someone preach that everybody has to sleep eight hours a night. “That’s like saying everybody in the population has to be 5 foot 10,” he says. “That’s not how genetics works.”
Americans have billions in unused gift cards
This is less of an article recommendation as it is a public service announcement. Whatever gift cards, airline refund credits, vouchers, etc. you’ve accumulated over the last year…use them! Book the holiday, spend the cards, set reminders.
We hope we have fulfilled our mission of increasing family wealth with this message.
Bankrate said more than one in three U.S. adults have lost money for not keeping track of their gift cards, either losing them, letting them expire, or not using them before the business stopped operating.
Sports gambling in the degenerate economy
Sports betting is just one of many activities that is increasingly consuming the income and assets of those who can least afford to lose, joining a roster that would include meme coins, zero-day options, and levered ETFs. In all these areas the current status quo simply doesn’t feel adequately or appropriately regulated. In the case of the market-linked pieces, let’s hope that changes before the next true bubble really takes off (though it may already be too late).
One common theme across all of these speculative, i.e. degenerate, activities these days is that you are on your own. No one is going to prevent you from blowing yourself up.
Gallant MacDonald is Hiring! We are in the process of recruiting an Associate Portfolio Manager as we look to scale our team to better service ultra-high net worth families across North America. If you know of any self-motivated individuals with a background as a CA/CPA that want an environment focused on personal and professional growth, please let us know!
Gallant MacDonald designs bespoke investment programs for a select group of institutions and families who have made significant contributions to business, public service, and philanthropy.
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