Up, Up and Away
Interest rates down, stock markets go up. Government shuts down, markets go up. Jobs are fewer, markets go up. It doesn’t seem to matter whether the news is good or not, the markets keep going up. (Of course, as soon as this was written, the markets took a dive on Friday.) We love this higher direction, but we know that this will not last forever. According to many economists, the “day of reckoning” is coming. Thinking back to past financial crises, today’s market may remind us of Alan Greenspan’s famous warning to beware of “irrational exuberance”.
Year to date: S&P 500 +15.3%, DOW + 11.3%, NASDAQ 18.5%, Russell 2000 12.2%. The best sectors in 2025 have been Technology +23.4%, Communications + 23.1%, Utilities + 19.9%, Industrials 18.5% and Financials 12.6%.[1]
As we grow , we want to keep pace with your changes in life: weddings, births, deaths, jobs, health and residence. These changes may lead us to a different risk level for you. We want to keep you current…be your one-stop resource for money management. This service includes keeping you diligent about updating your beneficiaries, insurance, will and trust. Added all up, we have 78 years of financial experience at Pac Sun to help improve the quality of your life.
AI continues to dominate the financial news and conversations about a world of change. The mega caps like Nvidia, Microsoft, AMD, Oracle, META, Broadcom and Apple have soared. In LA, we see driverless Waymo taxis everywhere. You can ask ChatGPT just about anything and an encyclopedic answer will be in front of you in seconds. Are all these technological advances making the world better? We know many jobs will go away. Is social media contributing to a better quality of life for us? Our future generations will need to interact together to make our world a safer and happier place.
If you need an escape from the news and the negativity, settle into a comfy chair and watch some comedy or romance or sports. Or grab a book with some positive emotion or a heartfelt message. Jean Smart won another Emmy this year for her comedic role in “Hacks” along with Hannah Einbinder. Seth Rogen won for his craziness in “The Studio”. Noah Wyle and the “Pitt” were other big winners. The baseball World Series is on the horizon with the Dodgers, Mariners, Brewers and Blue Jays in contention for the crown. College football pays 21-year-old Arch Manning $6.8M. The Dodgers’ Shohei Ohtani signed a 10-year contract for $700M. Money makes the world go round…especially in sports.
Two of the brightest stars who have entertained us are gone. Is there a finer movie ever made than “The Way We Were” or “Butch Cassidy” or “Annie Hall” or “Something’s Gotta Give”? RIP Robert Redford and Diane Keaton.
If you’re over 73 years old, or you inherited an IRA, your Required Minimum Distributions (RMDs) are likely due by December 31st. If you miss the date or the amount, the 50% penalty is severe. So, we will do our best to send these out early to you before November 30th. If you prefer to squeeze in the last month of tax deferred growth, let us know. Otherwise, expect to receive your IRA, Pension, or SEP distributions in November.
We don’t advertise. We grow our clients organically by introductions from you. We continue to receive emails and photos from clients cruising, glamping, going on safari, luxuriating in a fine hotel in Paris or Lake Como. These appreciative stories and images make our work so worthwhile. Please continue to introduce us and to keep the fun stories and pictures coming. Your experiences may even inspire a sequel to “Money Stories”.
Please view our updated privacy statement by clicking the link. If you wish to receive our latest ADV (investment disclosure document), please send us a request.
This past spring, there was a serious downturn in the markets. We don’t predict the next one, nor do we fear “the day of reckoning”. We simply keep to our time-tested strategy: Buy good investments at reasonable prices, be patient, and let them grow over time. If you would like to have a meeting or call before the year-end, please get in touch.
Here’s wishing you a good final three months of 2025 and Happy Holidays.
Mitch Fisher & Ryan Fisher
[1] JPM Market Data 10-6-25