Weekly Reading Recommendations

Yes, You Can Save Too Much for Retirement (Bloomberg)

We're too Obsessed with Holding Cash (Callie Cox)

Buying a House at the Top of the Market (A Wealth of Common Sense)

U.S. Economy Regains Speed in 2nd Quarter While Price Pressures Continue Easing (Fidelity, Reuters)

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Charts that matter

Record-Breaking Summer Travel

Further evidence the consumer remains resilient and thus the economy remains on sound footing (as the consumer accounts for approximately 70% of economic growth in the U.S.)

  • According to TSA data, the US has seen 12 of the 15 busiest travel days on record since mid-May.

  • International-bound travel is particularly strong. As of May, over 28 million Americans have traveled abroad in 2024 – the most in this time period over the past five years.

What to make of this? The growth in US airport passenger traffic this year suggests a continued recovery in not only consumer but also business travel, which in turn should boost demand for hotels and the hospitality sector in general. All of which bode well for continued economic growth. 

This Week's Highlight Article

Emotional Investing: Before Selling, Answer these Questions

This week's highlight article provides valuable insights for investors facing market uncertainty that may fuel a natural desire to sell investments or "do something" when often the best option is to stay the course.

 Tempting as it may seem, there's data and evidence galore showing that it's a bad idea to try to time the market in this fashion. Investors usually fail at it because markets are highly efficient, employing news and other information at warp speed and making short-term price moves very hard to predict. You're better off sticking with your long-term plan, which hopefully calls for wide diversification across asset classes anyway. 

 But emotion often overrides logic. With that in mind, Morningstar provides a short list of questions to consider before wanting to hit the sell button. Taken together, they form a framework that might be useful for thinking through investment decisions not just at momentous times like this one but throughout your investing journey.

 Click Here to Read "Freaking Out? Before You Sell, Answer These Questions"

If we equal-weight indexes by giving each constituent company the same percentage regardless of size, it becomes obvious how much a few giant US companies are changing perceptions. What comes as a surprise to many is that on an equal-weighted basis, the total return on MSCI’s index for Europe has actually outperformed its US Index since the beginning of 2023. 

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