● Outsmart the Money Magicians: Maximize Your Net Worth by Seeing Through the Most Powerful Illusions Performed by Wall Street and the IRS
Christopher R. Manske
Summary via publisher (McGraw Hill)
A Wall Street insider draws back the curtain on how financial firms take advantage of individual investors—and delivers the information and insights you need to turn the tables. Nationwide brokerage firms have perfected the secrets for how to legally fool the rest of us into giving them our hard-earned money. Written by a renowned leader and financial reform advocate who has seen every trick in the book firsthand, Outsmart the Money Magicians reveals how biased the financial system often is, and helps you see through the illusions, understand exactly what is happening with your money, and make investing and tax decisions accordingly.
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Major Asset Classes | November 2023 | Performance Review
Global markets surged in November—except for commodities, which posted the only decline among the major asset classes last month, based on a set of ETF proxies.
Macro Briefing: 1 December 2023
* Israel resumes war in Gaza after week-long truce expires
* Pressure rises to phase out fossil fuels at climate summit in Dubai
* Fed officials remain cautious on talking about rate cuts
* 60/40 stock/bond portfolio benchmark set for best monthly return in 3 years
* US jobless claims edge higher as continuing claims at 2-year high
* Chicago PMI rises to 17-month high in November, signaling expansion
* US consumer spending and inflation cooled in October:
Rate Cut Expectations Fuel Bond Market Rally
Investors are increasing their collective bets that the Federal Reserve will soon start cutting interest rates – a bet that went into overdrive this week and ignited the strongest rally in bonds in 40 years.
Macro Briefing: 30 November 2023
* Here are the conditions that would foster rate cuts in 2024
* US bonds on track for best monthly performance since 1985
* US mortgage rates fell last week for the fourth time in five weeks
* China factory activity falls for second month in November
* Eurozone inflation decelerates more than expected in November
* US Q3 GDP revised up to +5.2% seasonally adjusted annual rate:
A New Book Takes A Deep Dive At Solving The Portfolio Problem
Financial “wisdom” is said to be cyclical rather than cumulative, but that’s unfair. At least in the dominion of portfolio management and design, academics and money managers have made great strides in decoding Mr. Market’s cryptic signals over the past half century. The challenge, having led the proverbial horse to water, is making him drink.
Macro Briefing: 29 November 2023
* Fed official suggests central bank is done with rate hikes
* Global economy will slow in 2024, OECD predicts
* US car dealers say consumer demand for electric vehicles is weak
* Amazon announces new AI chatbot for businesses
* US home prices rise to a new record high in September
* US consumer confidence rebounds in November after 3 monthly declines
* US 10-year Treasury yield falls to two-month low on Tuesday:
US Q4 GDP Nowcast Still Points To Moderate Growth
The recession that was widely predicted when the year began has only been postponed, some forecasters warn. The US is likely to contract at some point in the new year, runs the updated outlook. Maybe, but 2023 remains on track to exit this year in a growth mode, according to the latest nowcasts.
Macro Briefing: 28 November 2023
* Will emerging markets rally in 2024 if interest rates peak?
* US liquidity is rebounding, providing support for stock market
* US gasoline prices fall for 60 straight days
* Sticky US core inflation will keep rates high, economists predict
* US median price for new houses sold fell 17.6% in Oct–deepest slide on record:
Will US Stocks Lead Again In 2024? Big-Tech Has The Answer
The US stock market remains on track to be the performance leader in 2023 for the major asset classes – by a wide margin. The key reason: Big-tech shares are running hot. Take out these companies from the mix and US equities’ year-to-date results fade to a mediocre performance in line with the return on money-market funds.