Kyle

[Kyle @k_dry2]

@markcecchini Devils advocate I am sure what was presented was diffrent options of Exchnage funds, prob some sort of long-short or direct indexing, and LMA and the client could have understood these concepts incorrectly even if they were properly explained

[Ray Dalio @RayDalio]

https://t.co/6Heun8yNpq

[Paulo Macro @PauloMacro]

All I keep thinking is like seriously WTF is Fed gonna do.

Good luck cutting into this with all growth / inflation projections on 🔥

And if they don’t cut then gonna be seen as political. Fuct either way.

LOL 🍿

[Bob Elliott @BobEUnlimited]

Prospective Trump admin policy would be far more impactful to the macro economy than those proposed by Harris.

While both plan substantial policy shifts ahead, Trump can implement much of his agenda without congress and has a higher probability of a sweep.

Thread.

[Disruptor 📼 @DisruptorStocks]

🤯Health Insurance scam visualized

[Ethan Mollick @emollick]

Google's NotebookLM is the current best "wow this is amazing & useful" demo of AI

Here I gave it the entire text of my book, it turned it into a podcast, a study guide, FAQ, timeline & quite accurate chat

Listen to the first few minutes of the "podcast." Seriously, just listen.

[Jack Farley @JackFarley96]

OUT NOW - my interview w/ @josephwang on:

- why Joseph has turned bearish on stocks 🐻

- why he thinks rate cuts will *hurt* the market 📉

- his analysis of the Fed's balance sheet💲

Spotify 🔊 https://t.co/KEtlojbxMg
YouTube 📽️ https://t.co/5ksQdOXSqt

[Nick Timiraos @NickTimiraos]

The Federal Reserve cut rates by 50 bps.

The median projection has two more 25 bps rate cuts in 2024, for a total of 100 bps this year.

Fed governor Miki Bowman dissented in favor of a smaller 25 bps cut. It's the first dissent by a *governor* since 2005.

[Thomas Kopelman 💵 @TKopelman]

Direct indexing is such a powerful tool for high net worth people

It allows you to essentially buy an index (like the S&P 500) while owning each share individually

Why is this so great?

Oftentimes, you will find that the index overall is up, but many stock are down

Direct indexing allows you track that index but tax loss harvest throughout

This allows you to generate losses and use those losses to offset other gains and then $3k of income

A high income CA resident pays over 37% capital gains for LT

For every $10k of capital gains that can be offset, you save $3,700

And even more on short term

[MichaelKitces @MichaelKitces]

The SECURE 2.0 Act created a new option for surviving spouses that changes the calculus for deciding which option to choose. It allows spousal beneficiaries who leave the account in the decedent's name to use the Uniform Lifetime Table to calculate RMDs. https://t.co/ATMfq5UcJc

[Liz Ann Sonders @LizAnnSonders]

CPI categories

[Mark Cecchini, CFP® @markcecchini]

“Oh OK, so I would owe 20% capital gains on that then?”

Sadly you need to tack on the 3.8% Medicare surtax.

And another 10-13.3% for state tax.

So more like 33-37% in total.

^^this is why tax planning and tax aware investing are critical.

[Lyn Alden @LynAldenContact]

One of the most stark visuals of U.S. demographics, is the Social Security Administration's projection for when their reserves will run out (2035) compared to where they are now.

It'll go down faster than up, according to the administration itself.

[rohit @krishnanrohit]

This is really cool from Google. On demand podcasts about your favourite papers and books.

[Bob Elliott @BobEUnlimited]

Are we sure inflation is beat?

[Mike Zaccardi, CFA, CMT 🍖 @MikeZaccardi]

SPX returns 12 months after the first rate cut. Schwab..

[Kyle @k_dry2]

@markcecchini How can Maryland be on both sides? It isn’t double taxed is it?

[Dario Perkins @darioperkins]

impressive chart from the IMF

[Guy Berger @EconBerger]

JOLTS:

1/ Hiring took another move down in June, shaking hopes of a stabilization.

3.4% hiring rate = comparable to late 2013, early 2014, when the unemployment rate was almost 7%.

[ Q-Cap  @qcapital2020]

$ARKK has underperformed US Treasuries in the last 5Y

lol