This Week on The Compound
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EPISODES
On TCAF this week Josh and Michael spoke with returning guest Michael Cembalest, Chairman of Market and Investment Strategy at J.P. Morgan Asset Management. They discussed the strength of the U.S. dollar, China’s challenge to American economic dominance, foreign demand for Treasuries, the federal debt reckoning, the rapidly changing AI investment landscape, Nvidia’s growing competition, and semiconductor cyclicality. (Listen)
INSIDE THE COMPOUND
It’s easy to get caught up in the ups and downs of the daily moves in the stock market. That’s why it is valuable to zoom out and look at longer term stock market returns. Ben Carlson at A Wealth of Common Sense looked at how the S&P 500 performed in up and down years. Nick Maggiulli at Of Dollars and Data zoomed out even more looking at time horizons up to 20 years. Carlson writes:
Predicting stock market returns is basically impossible. There is no rhyme or reason in returns from one year to the next. But as a general rule of thumb:
Sometimes the stock market goes down but most of the time it goes up.
MERCH
Summer is officially here, so grab a Compound Serif hat to help the keep the sun out of your eyes. You can always check out all our merch at idontshop.com.
COMING UP
Next week on TCAF, Josh and Michael will be joined by Jonathan Thomas, CEO and President at American Century Investments.
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