LIFESTYLE DRIVEN ADVICE
MARCH 2024

Hello,

 

“In like a lion…” is part of the weather expression attributed to the month of March. The stock market has also been roaring higher to begin this month and year. We’ve already seen 21 new closing high records for the S &P 500 in 2024 (we had zero last year) and it’s the 15^th  best start to the year since 1928! 

 

Amazingly, the market rally since November – while fast, furious, and mostly uninterrupted – has taken place with a fairly calm underlying sentiment as evidenced by a volatility index tracking near historically low levels. This resembles a lamb much more than a lion. Still, this time of year arrives with some excitement: cherry blossoms, the start of spring, and the NCAA basketball tournament!

 

In fact, March Madness is primed to be one of the biggest betting events on record. Certainly, sports betting has become more prevalent as of late and this is not completely uncorrelated with activity we are seeing in the stock market. In the Berkshire Hathaway annual letter this year, Warren Buffett noted that “[…] markets now exhibit far more casino-like behavior than they did…The casino now resides in many homes and daily tempts the occupants.” He goes on to discuss “feverish” activity in the market, and it’s important to note that sentiment can change quickly.

 

Thankfully, sentiment currently seems somewhat balanced. The common saying is that market rallies are born on pessimism, they grow on skepticism, they mature on optimism, and then they die on euphoria. Anecdotally, we are hearing a mixture of these sentiments in daily conversations.    

 

Another more consequential factor influencing that sentiment is the 2024 Presidential Election. In this month’s XML Wealth Insights video, Curtis Congdon does a great job equipping everyone with useful facts about presidential elections and market reactions: Markets and the White House . Take a look at this 5 minute video for an unbiased investment view.

 

Keeping our eye on the election year, we turn our attention to policy.  Interest rate policy is at the forefront and unlikely to avoid political controversy.  Here are some things to consider as we expect rate cuts later this year  (After a Rate Cut ) as well as some recent news about credit card charges for consumers and the relief that could be in store (Credit Card fees ).

 

As you are reading this, the first quarter of 2024 is coming to an end. It has been a strong start to the year and we were happy to close March by highlighting and hosting our annual “Womenomics”  webinar: Empowering Women Investors . This year, XML Wealth Advisor Nicole Treiber was joined by Candice Tse, Managing Director at Goldman Sachs Asset Management to facilitate this important discussion while honoring and celebrating Women’s History Month. 

 

Best,

Brett

 

Brett Shane Bernstein, CFP ^®
CEO and Co-founder   

XML Financial Group
www.XMLFG.com  
(O) 301.770.5234 x 2030

Wealth Insights: Markets and The White House

 

In the most recent episode of Wealth Insights with XML President, Curtis Congdon, CFP®, CRPC® , takes an unbiased look and reveals how the markets have fared under both Democratic and Republican-led administrations. 

Blogs

CFPB Fights Back Against “Junk Fees” That Harm Consumers

 

The CFPB has announced a new rule that caps credit card late fees at $8. The new cap will save 45 million Americans approximately $220 per year in late fees. Read on to find out why this new rule was instituted and what it means for everyday Americans going forward.

 

The Fed Might Cut Rates. What Happens Next?

 

 

The Federal Reserve hasn’t announced rate cuts yet, but it is likely on its way. Falling rates will make money less expensive, likely helping the stock market and the economy overall – but it may also lead to higher inflation if the rate cuts come too soon. Find out why it's so important for the Fed to maintain this juggling act.

Webinar Materials: Empowering Women Investors

 

On March 21,  Nicole Treiber (Wealth Advisor) was joined by  Candice Tse, (Managing Director, Global Client Business at Goldman Sachs Asset Management) for an in-depth conversation about empowering women investors. On top of the what was discussed during the webinar, Goldman Sachs has graciously provided us with the presentation slides and the complementary workbook that you can fill out at your leisure.

XML Team News

Save the Date: Volunteer at Community Cares

We are thrilled to announce an upcoming opportunity for you to join hands with us in making a tangible difference. XML Financial Group is hosting the "Community Cares" Event , a special event dedicated to giving back to those in need within our beloved community of Alexandria. Together, we will prepare and pack 100 nutrient-rich lunches for food-impoverished teens at Alexandria City High School. This event is an opportunity for you to join us in fostering community spirit, creating a direct impact, and networking with folks who share a commitment to enriching our community. Stay tuned for registration information to participate.

XML at Grandview Senior Living

XML's own Michelle Cooper and Shawna Bieda recently had the pleasure of attending the Grandview Senior Living Open House! While there, Michelle and Shawna were able to educate folks about the history of XML and the services we offer to clients. 

In the News

XML CEO &Co-founder, Brett Bernstein , recently made an appearance on The Diamond Podcast for Financial Advisors hosted by Mindy Diamond. In the episode, Brett shares his journey from vision to enterprise, detailing the growth within the firm as well as overcoming limitations in the wealth management landscape, insights on navigating transitions, and much more.

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