Your Money

I may sound like a broken record, but something seems off about the market’s record-breaking run.

Is this advance trustworthy? It certainly lacks broad participation and doesn't reflect an ideal soft-landing economic scenario. The stark divergence between a tight cluster of enormous tech companies and the few thousand other stocks left behind is inescapable.

The S&P 500, with 20% of its market value concentrated in three stocks (Microsoft, Apple, and Nvidia), is up nearly 14% this year and near a record high. However, the index’s equal-weighted version is up just 3.4% and is still 4% below its late-March peak. While the main S&P has gained more than 3% in the second quarter, its median stock is down 5% quarter-to-date. Meanwhile, the broader Russell 1000, representing the entire large-cap cohort, is essentially flat year-to-date on an equal-weighted basis.

In times like these, it's wise to remember Nick Murray's famous quote: “Diversification is the conscious decision never to be able to make a killing, in return for the priceless blessing of never getting killed.”

At PWM, we diversify stock portfolios across growth and value, large and small, foreign and domestic, public and private.

The unloved stock market rally: Why so many investors find it hard to embrace this run to records
by Michael Santoli

Your Life

Most people know a good skincare routine is essential for youthful, glowing, blemish-free skin. However, you might not realize that taking care of your skin is crucial for safeguarding your overall well-being and reflecting your internal health. As the largest organ in the body, your skin plays a vital role in maintaining good health beyond just beauty and appearance.

Proper skincare is essential because your skin protects you from external elements, regulates body temperature, promotes Vitamin D synthesis, provides natural protection against harmful UV rays, and detects the sensation of touch. Additionally, your skin can give you clues about potential issues in your well-being through rashes, excessive dryness, unusual discoloration, and inflammation—signals that can indicate more serious problems and disorders in your organs or other areas of your body.

A skincare routine is important because your skin is with you for life. It helps fight infection and disease, boosts your confidence, improves mental health, and is vital for healthy aging. It's important to customize your skincare routine based on your specific needs and consider professional treatments when necessary.

Taking care of your skin is more than a cosmetic concern; it's an investment in your overall health and well-being. Consider professional treatments when and if needed.

3 Reasons Why Skin Care Is Important to Your Health
source: Garza Surgery

Complexity Simplified

Over the years, advances in technology have brought about innovations in how to light our homes and commercial buildings. In the beginning, all we had was the standard incandescent light bulb. Now we have compact fluorescent lamps (CFL) and light emitting diodes or LED for short. This article compares brightness, lifespan, and costs among incandescent, CFL and LED bulbs. Brightness was equal among all three; however, LED was superior in efficiency (using less power for same brightness), lifespan and costs.

Comparing LED vs. CFL vs Incandescent Light Bulbs
source: ViriBright

Trivia