The School of Bob
In the latest episode of Payne Points of Wealth, we explore the foundational investment principles imparted by Bob, whose eminent investing career spans over five decades. Join us as we delve into the timeless strategies and philosophies Bob has developed and shared with Ryan and Chris, shaping their financial beliefs, and becoming the guiding principles of our Firm, Payne Capital Management. From understanding how human behavior influences financial markets to the value of being a lifelong learner, this episode is packed with practical advice and personal anecdotes that underscore the enduring relevance of Bob’s teachings. Whether you’re just beginning your financial journey or you’re a seasoned investor planning for retirement, you’ll uncover valuable insights to enhance your wealth-building efforts.
Hidden Facts of Finance
Since 1945 there have been 13 recessions that last 10.3 months on average. The Great Recession which began December of 2007 officially ended in June 2009. The economic downturn was the longest since WW2 lasting 18 months. The shortest one lasted 2 months, from February through April 2020 during the pandemic.
497,000 is the number of 401ks at Fidelity worth more than $1 million, that’s a record, up 31% from just last year. US household stock allocations have steadily inched up this year according to JP Morgan and recently accounted for roughly 42% of total financial assets, that’s the most on record, going back to 1952.
The makeup of the US economy today is very different. Services have risen to nearly 46% of overall GDP, while goods have slimmed down to 22% of the overall economy. Furthermore, there’s been a shift away from capital-intensive businesses, hence the economy is much less sensitive to interest rates than it used to be even with the Fed hiking so many times in the last few years.
