Wednesday Reading List

August 9, 2023

Nothing like price to change sentiment.

Helene Meisler

ICYMI: August Market Update: What Caught Our Eye In July – Why inflation might creep back up, what the debt downgrade means for investors, why markets are having such a good year, what the Fed might do next, and a warning for growth investors.

Five Financial Planning Strategies for Women by Heritage Financial

Our Her Heritage team shares its latest insights.

Fitch Downgrades U.S. Credit Rating by Charles Schwab Asset Management

This is not about the ability of the U.S. to service its debt. It’s about the willingness to service the debt. The Fitch decision is highlighting long-term political issues that are preventing the government from coming to an agreement to slow the growth in debt/GDP. Nonetheless, there is still no substitute for U.S. Treasuries in the global economy. The U.S. market is still the largest, most liquid and safest in the world. Investors should not overreact to this announcement.

Chart of the Week

The top 10 most expensive states to live in based on living expenses — Hawaii is 50% above the national average by Business Insider

Dreaming about where to retire, or looking to move somewhere new? You shouldn’t judge based on cost of living alone, but it might be a factor to consider.

The US Housing Drought Is Ending. What Does It Mean for Prices? by Bloomberg

A lack of inventory, partly driven by homeowners with low mortgage rates refusing to sell, has contributed to higher home prices. There are signs that supply will start to improve next year.

How to Read: Lots of Inputs and a Strong Filter by Morgan Housel

I get asked a lot how I have the time to read so much. Morgan’s latest touches on one way: having a filter and finishing fewer books. Bad books are a slog and no one wants to spend time reading them. Drop them quicker and move on to better stuff.

What higher rates for longer could mean for bondholders by Vanguard

A recent sell-off in bonds hurts investors, but sets bonds up for higher long-term returns so long as you don’t lock into short-term stuff.

I’m 65 and Still Working. Should I Enroll in Medicare? by Morningstar

How to decide if it’s the right time to sign up for Medicare and the costs of late enrollment.

Disney used to hate gambling. Now it’s doing a $2 billion sports betting deal. by Vox

What Disney’s ESPN/Penn Entertainment tie-up tells us about sports, pop culture, and the media business.

Podcast Recommendation

Goldman Sachs Research’s Bruce Kirk, chief Japan equity strategist, explains the drivers behind the rally in Japan’s equity market and the state of the country’s economy.

Book Recommendation

Heat 2: A Novel by Michael Mann and Meg Gardner

Michael Mann, four-time-Oscar-nominated writer-director of The Last of the Mohicans, The Insider, Ali, Miami Vice, Collateral, and Heat teams up with Edgar Award–winning author Meg Gardiner to deliver Mann’s first novel, an explosive return to the universe and characters of his classic crime film—with an all-new story unfolding in the years before and after the iconic movie

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