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Nike blows up, summer storms, The Broker Who Saved America, Future Proof agenda revealed

Have a safe and happy July Fourth!

Nike Blows Up

On the all new edition of What Are Your Thoughts, Michael and I dive deep into the abyss with Nike, which is now in one of its worst drawdowns in the forty five year history of the company since its 1980 IPO.

We also react to the Trump vs Biden debate and related market fallout, plus I pitch him an international technology giant that should be on everyone’s radar.

Watch it below or listen via podcast app here.

Summer Storms

One other thing we get into is how quiet things have been lately. My colleague Callie Cox wrote about the likely possibility of “summer storms” coming to a stock market near you this July and August after we’ve just experienced the calmest month in the S&P 500 in five years.

Callie notes the typical summer stock market features an average of seven down-1% days, even in the best of times. We haven’t had one of those since April!

Callie just launched her new blog, Cautiously Optimistic, which you can subscribe to here. She’ll be sharing some of the insights that we are regularly talking to clients about and adding her take on all the action in stocks, bonds, commodities, interest rates and the economy.

And if you’ve noticed a substantial uptick in the quality of all our charts and graphics of late, you’re right - we’ve been upgrading all of our visuals thanks to our new research associate Matt Cerminaro aka Chart Kid Matt. He’s working on a top secret project right now we can’t wait to tell you about when it’s finished.

The Broker Who Saved America

For those of you who are relatively new to this site or hadn’t been following The Reformed Broker back in the day, I used to repost the story of Haym Solomon every July 4th, an amazing story you’ve never heard anywhere else. Solomon was a broker and a financier who spoke multiple languages and operated out of New York and Philadelphia in the late 1700’s. He became George Washington’s money man and saved the Continental Army on multiple occasions when funds were low and the hour grew desperate. The tale of Haym Solomon is not to be missed! Read it and share it with the history buffs in your life.

Future Proof Speakers

This week we released the first draft agenda for Future Proof 2024 which will be held in Huntington Beach, California September 15th - 18th. It’s going to be the best one yet. Here’s a sample of the speakers we have coming out, there will be 175 people on stage in all - this is just a few:

For the whole roster, go here.

If you work in wealth management or wealth tech and you think this might be for you, I urge you to get your ticket now. From the official release:

The organizers are preparing to welcome over 4,500 attendees, including 2,200+ of the industry’s top wealth management professionals. A breakdown of the 1,500+ already registered wealth management audience reveals:

72% of attending wealth management professionals are RIAs

60% of attendees are C-suite executives

52% of advisor attendees & 83% of firms attending directly manage more than $100M in assets

$767M is the average asset size of attending firms (firms over $5B in assets excluded)

163% is the 3-year average growth rate of attending firms


Everything you need to know is here at the Future Proof HQ page.

Thanks so much for reading and sharing my stuff. I want to wish you a Happy Fourth of July and please, no fireworks and no drinking and driving. Have fun, stay safe and God Bless America!

That’s all from me, talk soon! - Josh