Stocks Still On Track For All-Time Highs
Greetings from 35,000! A quick trip to Gainesville, FL and Athens, GA. I hope everyone had a great Father’s Day weekend. Mine was full of family, golf and well, more golf. The U.S. Open was one of the best finishes ever with so many pros experiencing despair amidst a few small pockets of jubilation. For most of the tournament I never thought JJ Spaun would even finish in the top 10. And poor Sam Burns. Hard to come back from […]
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Date: June 16, 2025
Interest Rates & Your Investments: What To Watch Now
Rising and falling interest rates can affect more than just mortgage payments or savings yields—they can influence the entire structure of your investment portfolio. For high-net-worth individuals, these shifts carry even greater weight. With larger, more complex portfolios, even modest changes in rates can impact long-term outcomes. At Heritage Capital, we have a deep understanding of the markets and interest rate fluctuations, and we’ve spent over 30 years providing financial planning for high-net-worth individuals. Our founder and Chief Investment Officer, […]
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Date: June 16, 2025
Market Needed An Excuse To Pull Back – Israel Provided It
I have recently written about the stock market rallying very far and very fast. A pullback was due. The Volatility Index (VIX) was one clue that some weakness was imminent as it was up the past two days without stocks being down. You may have to squint, but look at the far right side of the chart below to see what I mean. With Israel attacking Iran on Thursday night, the excuse for lower prices came. A 2-4% pullback would […]
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Date: June 13, 2025
Dumb Money Finally Buying Stocks
Smart money usually is early to the rally and then slowly reduces exposure as the dumb money throws in the bearish towel and starts to embrace the market strength. This happens over months and quarters. Rinse and repeat. During the tariff tantrum in early April I noticed that big money was selling at any price while small money was patiently buying the plunge in what was a role reversal. The stock market has come very far and very fast from […]
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Date: June 11, 2025
Goldilocks Came – Media Labeled “Weak” and “Stronger”
On Friday, I offered that an employment report with 125,000 to 150,000 new jobs created in May would be Goldilocks, not too hot and and not too cold. The government reported that the economy created 139,000 new jobs in May, slightly more than expected. Wages also grew more than expected. On the surface this was a solid number given the length of the recovery. However, April and March saw significant downward revisions by 30,000 and 65,000 respectively. Purely speculating, that […]
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Date: June 9, 2025
Geopolitical Nonsense
Thursday was not a quiet day on the news front. Elon Musk fired a shot across the bow and President Trump took the bait, hook, line and sinker to mix metaphors. The market responded by selling Tesla very hard which reversed early gains in the NASDAQ 100 and S&P 500. Think you can guess my next comment? Ignore geopolitical nonsense. Follow the data. The stock market was poised to pullback. The S&P 500 got within a whisker of 6000 which […]
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Date: June 6, 2025
All-Time Highs Already? – Semis Boosting Market
The S&P 500 is now only 3% from all-time highs. Just two months ago the masses were talking about a repeat of the COVID crash or 2008. Few wanted to listen to hugely bullish side of the ledger that I was selling. People laughed when I suggested new highs were coming in late Q4 or early 2026. My timing may be off, but no one can question my bullishness. All the geopolitical nonsense chatter clouded some investors’ thinking into selling […]
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Date: June 4, 2025
Bulls In Charge to Begin June But Greed Is Back
Almost every day in January my wife commented how January is the longest month of the year. It’s as if time slows down. The holidays are over and sunlight is at a minimum. She hates when I don’t even bother to lift the shades in the bedroom. I felt like May was an equally long month. The weather was so crummy in CT. It was like March and November. That all changes as the markets begin June with the bulls […]
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Date: June 2, 2025
The Set Up For A Pullback – Even Nvidia Can’t Help
6 weeks ago, markets would have sold off significantly had President Trump attacked the Chinese regarding violating their trade agreement with the U.S. This morning, stocks are down marginally in the pre-market. Folks can argue that the economic news with cooler inflation and a “miraculously” shrinking trade deficit are more important. And that’s been my point exactly all year. I have hammered that with each successive social media post and press conference regarding tariffs, the markets are becoming more and […]
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Date: May 30, 2025
Changing Financial Advisors for High Net Worth Wealth Individuals
Are you sure that your existing financial plan is aligned with your growing wealth and long-term objectives? As your finances become more complex over time, so do your expectations of your financial adviser. You may find yourself questioning whether you still have the adviser you need. That’s why it’s worth considering why individuals in your situation tend to switch advisors—and what you need to seek in a replacement. Here at Heritage Capital, we recognize the particular challenges of holding substantial […]
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Date: May 30, 2025
Social Security at Age 67? Redefining Your Retirement Timeline
Is 67 still the magic number when it comes to Social Security? The answer may surprise high-net-worth individuals. Although 67 is the full retirement age (FRA) for many, it is not always the best time to claim Social Security. As experts in retirement planning for high-net-worth individuals in Woodbridge and throughout Connecticut, we at Heritage Capital appreciate the subtleties of high-net-worth retirement planning. Before you can claim Social Security, let’s discuss things to remember and how individualized planning can be […]
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Date: May 28, 2025
And Now They’re Off Again
I am rushing to hop on the train to NYC to join my friend, Charles Payne, on Fox Business between 2pm and 3pm so this may be shorter (or not). In the on again, off again tariff saga, the President reversed course on his 50% European tariff threat over the long weekend. And as you can imagine the pre-market trading is strongly higher by roughly 1.50%, wiping out Friday’s losses and then some. My readers know I have long argued […]
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Date: May 27, 2025
Tariff Tantrum Part ?
Here we go again? Kinda? Sorta? Donald Trump was at it again this morning with threats of 50% tariffs on the European Union along with specifically targeting Apple. I remember telling folks after the supposed China “deal” that it wasn’t the end. It was the end of the beginning. And my opinion remains that the worst has been seen on the tariff front. Additionally, I still believe that one day this year we will wake up to bad news on […]
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Date: May 23, 2025
Another U.S. Debt Downgrade – Buy Weakness
The big news of the day is actually what came on Friday right after 4pm. Credit rater Moody’s downgraded the U.S. from AAA to Aa1 in a mostly symbolic move. It is also more than 13 years after S&P began the downgrade process in August 2011. In short, while the move was long overdue and correct, it is stale and pretty much meaningless. Everyone and their dog knows our fiscal path is not sustainable. Politicians are 100% to blame, on […]
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Date: May 19, 2025
NASDAQ 100 New Highs – Gold Setting Up – Semis
The bulls have completely run over the bears much quicker than I thought and to a larger degree than I thought. That’s okay. No problem here. The NASDAQ 100 below has its sights on the old highs. I didn’t think that was in the cards until later this year. But here we are. People are getting more bullish which is expected. That’s okay until it’s not, meaning that bullishness is fine as long as it doesn’t get greedy, giddy and […]
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Date: May 16, 2025
What’s Been Falling As Stocks Soar Post Another 20% Plunge
I don’t have to say that it’s good to be home yet again because my trip to Florida never happened. I had scheduled client get togethers for Orlando, Melbourne and Boca on Monday with a few more on Tuesday. My flight kept getting delayed 10-15 at a time with mechanical issues. At the 90 minute mark I knew I would miss Orlando and jeopardize Melbourne. Then news came of severe weather in Florida. The choice became easy. I received a […]
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Date: May 14, 2025
Tariffs Trump Tired
Greetings from being back in CT! My flight to Florida has been delayed for mechanical reasons and the airline isn’t sure when or even if it’s going to fly. Last Friday I wrote about the stock market being tired. It had rallied very far and very fast, similar to how it plunged in April although the downs are almost always sharper than the ups. I thought maybe some sideways action or a few percent lower. The news of the weekend […]
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Date: May 12, 2025
Tired
My flight back from CA to JFK was delayed because of weather and a not functioning lavatory. And then we had to fly around the storms which made it longer. Upon landing, wait for it, the gate was not ready. And my parking lot took 30 minutes to pick me up. So folks, here is a short update on a few hours of sleep. Like me, stocks are a bit tired. Tariff news has been good this week, but stocks […]
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Date: May 9, 2025
***Special Fed Day Update – Powell & Company Wrong Again – Stocks Heading To New Highs***
After four crummy weather days, Mother Nature is apparently going to offer some sun and warmth in Southern CA, not that I have been outside since Sunday. The conference ends today and it’s been a tiring week so far, chairing the conference committee and keeping everything running smoothly and on time. I am looking forward to a half day free tomorrow morning before flying home. It’s FOMC day for the Fed. The stock market model is plus or minus 0.50% […]
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Date: May 7, 2025
***Q1 Client Update***
Following the election of Donald Trump to a second term, I broke with the vast majority of pundits and media when I had high conviction that 2025 would not be a repeat of 2017 where we saw animal spirits unleashed and markets soar. 2017 was all about the largest tax cut in history along with massive deregulation. Combined, that likely added hundreds of billions if not trillions into corporate coffers and individual balance sheets to stimulate an economy that didn’t […]
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Date: May 6, 2025
