Wealthy Behavior

Both stock and bond markets rallied in November, helping the typical 60/40 balanced investors experience the best month of performance since 1991. Markets surged based on growing confidence that the Fed is done raising rates and the number of potential future cuts is increasing. But the Fed is taking a more hawkish tone. What are the chances the November rally can continue? In addition to digging into the data, Sammy and Bob discuss:

• The probability of a recession in 2024
• What could move the Fed to cut rates next year
• The attractive bond market for investors continues
• “T-Bill and Chill”, a mantra in recent investment news—what it means and how to use the strategy
• Tax loss harvesting – What is it and how to we implement the strategy

And we close with a tribute to Charlie Munger, an American businessman, investor, philanthropist, and, as described by Warren Buffett, his closest partner and right-hand man. Charlie, a role model for many investors and businessmen, passed away last month. He believed in lifelong learning and often shared notable lessons about life, investing, and business, including one of our favorites that we hope to help listeners with, “Spend each day trying to be a little wiser than you were when you woke up”.

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

Special guest, Bob Pisani, CNBC Senior Markets Correspondent, joins Sammy Azzouz, Heritage Financial’s President and CEO, to discuss his new book, "Shut Up & Keep Talking: Lessons on Life and Investing from the Floor of the New York Stock Exchange".

In this episode Bob shares the history of the modern market and financial journalism and summarizes some of the most valuable life and investment lessons he has learned throughout his 25+ year career covering Wall Street. They also discuss how to filter the constant stream of news, the importance of understanding your own behavioral economics, and why investing should be...boring?!

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

Sammy and Bob have been busy traveling to several industry conferences this fall. In this episode of Wealthy Behavior, Heritage Financial CEO, Sammy Azzouz, and CIO, Bob Weisse, continue last month’s discussion sharing takeaways from conferences and conversations with industry leaders. While some concerns from recent months have subsided, others remain. Inflation, Treasury yields, and the risk of a recession are what most investors are focused on today. Hear Bob’s thoughts on what he’s confident in, what he’s watching for, and what concerns him the most. They also discuss:

• The difference between TIPS and I Bonds

• Why stocks and bonds have been moving in tandem with one another

• Views on indexing vs. active management, and some of the perils of indexing

Our Fall Market Outlook webinar addressed many of these topics as well as our expectations for the future. Be sure to catch the replay!

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

Special guest, Sam Ro, financial writer and the founder and editor of the finance newsletter TKer.co, joins Heritage Financial President & CEO, Sammy Azzouz, on this episode of Wealthy Behavior.

Sam is a self-described optimist in the long-term and cautious optimist in the short-term. He helps investors who are aiming to build wealth over time. Through Sam’s curated news, data, and insights he helps weed through the noisy, attention-grabbing financial headlines (that he used to create), amplifies important themes that he feels don’t get enough coverage, and helps investors of all experience levels make sense of what’s really happening in the markets and economy.

Listen in as Sammy and Sam discuss how to think about today’s long-term trends, 10 truths about the stock market that investors aren’t seeing, and more!

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

Like what you heard and want to join the Tker community?

Tker has both a free and paid subscription and Sam is offering Wealthy Behavior listeners 3-months of free access to a premium newsletter subscription. Visit www.tker.co/subscribe and subscribe to the free newsletter. Once you get an email confirmation, reply to that with a note saying you heard about TKer on the Wealthy Behavior podcast.

*Heritage Financial is not affiliated with Tker.co and no compensation has or will be provided in exchange for any subscriptions.

The yield curve is quickly changing shape from inverted to flat as the 10-year Treasury yield rose to a 15-year high. Bonds have a reputation for being boring, so the recent move is notable and led markets to struggle in September. Concerns over stubborn inflation, the elevated price of oil, and supply and demand in the bond market remain. In this episode of Wealthy Behavior, Heritage Financial CEO, Sammy Azzouz, and CIO, Bob Weisse discuss what these moves in the stock and bond markets signal to investors and what they should be doing in light of them.

Also, Fall is a popular time for industry conferences. Bob shares insights from a conference he recently attended where David Booth, Dimensional Fund Advisors Co-Founder & Chairperson, shared his 6 Principles of Investing:

1. Uncertainty Creates Opportunity
2. Power of Compounding
3. Planning Over Prediction
4. Control What You Can Control
5. Value of Flexibility
6. Tune Out the Noise

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

Mortgage-backed securities are the most interesting they have been in 10 years, according to special guest Ken Shinoda, Portfolio Manager at DoubleLine Capital and head of their mortgage-backed securities team. In this episode Ken and Wealthy Behavior host and Heritage Financial President & CEO, Sammy Azzouz, have an in-depth conversation about the current bond market, mortgage-backed securities, and mortgage rates.

• Opportunities and risks in today’s mortgage-backed securities market
• Where interest rates might be going in the next few months and next few years
• How mortgage rates are set and when they may drop
• What the bond market says about the economy now
• Why commingled vehicles are more efficient than buying individual bonds
• Why active bond management makes sense

Listen through the end as Bob Weisse, Chief Investment Officer at Heritage Financial, joins to help dissect the topic and how investors should be thinking about it. 

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

Despite ample reasons to be concerned and alarming headlines, the markets have remained resilient. In this episode Heritage Financial CEO, Sammy Azzouz, and CIO, Bob Weisse discuss:

-      Year-to-date market results and expectations

-      What investors should look for when bond yields creep higher

-      The latest economic data released on the labor and real estate markets

-      What Bob and the investment team will be busy with this fall

-      Asset allocation – How the team determines the right allocation from ~20 asset classes

-      And a sneak peek into our next episode on bonds and mortgages

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

Special guest, Gabriela Santos, Global Market Strategist on the J.P. Morgan Asset Management Global Market Insights Strategy team joins to discuss investing in Chinese markets and takes us through what’s been happening with the Chinese economy and markets from pre-covid through today.

• How should investors think about investing in China?
• The difference between A shares, H shares and ADRs
• Areas of focus for investment and opportunity in the country
• Is China the #1 threat to the US and its allies economically?
• How have sanctions like tariffs and restrictions impacted the Chinese economy?
• The future of economic growth in the country

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

Despite many worries - bank failures, record high inflation, debt ceiling debates, recession watch…markets are having a very strong year. What lessons should investors take away from this year so far?

We also discuss the U.S. credit rating downgrade, the difference in performance between value and growth stocks, and what caught our eye in July:

• Oil prices jumped
• Record global oil consumption
• Housing prices accelerated

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

Special guest Michael Santoli, Senior Markets Commentator at CNBC, joins Sammy Azzouz, Heritage Financial’s President and CEO, for a detailed investing conversation, including what he sees in this market, the recession watch, reasons for optimism, and how individual investors can best use market information disseminated by news sources such as CNBC.

Michael Santoli has covered the Wall Street beat for more than 20 years at Barron’s, Yahoo Finance, Dow Jones Newswires, and currently shares his extensive market expertise through regular appearances on CNBC’s “Closing Bell” and “Closing Bell Overtime”. In addition, he is a featured contributor to CNBC.com and CNBC PRO.

*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!

We’d love to hear from you! Email us questions, ideas, or feedback at [email protected].