Businesses, Stock Markets & the Economy

What If Interest Rates Don’t Matter as Much as We Think? (Ben Carlson, CFA)

“Just because stocks have done fine when rates have risen in the past doesn’t mean it will happen in the future.

But interest rate levels, in and of themselves, aren’t the sole cause of every market movement.

They are just one factor among many that impact how people allocate their assets.

And maybe, just maybe, they don’t matter as much as we all think.”

Your Finances & other Wealth Management links

Should you buy a second home with the intention of retiring there? (marketwatch.com)

What you need to know about closing costs. (nytimes.com)

What physical financial documents do you need to keep on hand? (wsj.com)

The Best Time to Give Back (Ben Carlson, CFA)

“This chart from the Credit Suisse Global Wealth Report shows the number of adults segmented by wealth at the end of 2019:

If you have $1 million or more, you are in the top 1% in the world. Just 12.4% of people have $100,000 or more. More than half of the world’s adult population has less than $10k to their name.”

The Environment & ESG (Environmental, Social & Governance) Investing

How Much Solar Energy is Consumed Per Capita? (1965-2019) (Visual Capitalist)

COVID-19 & Your Health

From Dr. Lucy McBride:

“So how do we preserve our mental health during this time of transition?

• Take time off from the news. Without any actionable information, it’s only added noise.
• Maintain hope (because we can). When hope is shrouded in false promises, it does serious harm. But when hope is rooted in science, it is healthy.
• Know that help is on the way. The vaccines are coming, and we should be in an entirely different place this summer.
• Recognize (or imagine) the physical and mental health benefits of vaccination. Once we’ve been vaccinated, we can socialize with other vaccinated people without fear. Vaccinated people together are not a danger to one another. (The CDC delayed their scheduled announcement of this today not because it isn’t true, but because of enormous political pressure that’s unrelated to science.) To be clear: in PUBLIC, vaccinated people still need to mask and distance from others because a) no one knows who’s been vaccinated, b) in my humble opinion it’s our moral responsibility to stand in solidarity with unvaccinated folks, and c) because of the tiny risk that vaccinated people can still get infected with the virus, not know it, and transmit it to others. But this risk is small. I hope my graphic here helps.
• Know that even people who are unvaccinated are safer in the presence of vaccinated people. For example, kids surrounded by vaccinated teachers or grandparents are safer than when surrounded by other unvaccinated people. This is the beginning of herd immunity. We’ve got miles to go, but we’re on the way to the finish line.
• Remember that our bodies work hard for us, even when we’re sleeping. Our immune systems are incredible. And it’s not just about antibodies and the B cells that make them. We’ve got TWO arms of the adaptive immune system to crush invaders like corona. T cells are the unsung heroes of immunity. This week my friend and Professor of Infectious Disease at USCF Monica Gandhi, MD, MPH, tweeted: Everything rests here on the fundamental understanding of immunology:
  • Main arm of immune system that fights viruses: T cells
  • T cell responses to vaccines unfazed by variants
  • T cells turn variant disease into mild
  • Variants will not deter progress
• Know that science has our back. The amount of brain power going into crushing COVID-19 is astounding. Instead of worrying about the variants, practicing armchair epidemiology, or running a clinical trial in your living room, I gently suggest you figure out who you trust and then follow their lead. I myself have tried to maintain sanity over the past year by hitching my caboose to people who follow facts, adhere to science, understand nuance, and consider our broad human needs with humility, decency, and flexibility of thought.

Get some rest, wander around in nature, and trust that we’ll be ok. I believe it. You can choose to, too!”

— Dr. Lucy McBride

Your Physical & Mental Well-being

From the 3/4/2021 New York Times “Well” Newsletter:

“Saying goodbye to a pet. It’s hard to know the right time to say goodbye to a pet. A natural death is what many of us hope for with our pets. But in most cases, a natural death means prolonged suffering that we don’t always see, because dogs and cats are far more stoic than humans when it comes to pain. In caring for Sunshine during these the past few weeks, I relied on an essential Quality of Life Scale created by Dr. Alice Villalobos, a nationally recognized oncology veterinarian. To learn more, read Is It Time? Making End of Life Decisions for Pets.

Distractions. I needed a laugh this week, so I enjoyed a fun diversion on Twitter called #RuinAFilmTitle. The goal is to change just one letter of a movie title to make it far less appealing. My favorite was “Germs of Endearment,” which felt topical for a pandemic. “The Unbearable Tightness of Being,” seemed right for those of us struggling to get back into pants that use buttons instead of elastic. Also for your consideration, “Indiana Jones and the Temple of Zoom,” “The Beer Hunter,” “A Fridge Too Far,” and “Gone With the Wine.” The tweet received more than 2,500 comments if you want to browse and find your favorite.

Don’t miss Jane Brody’s personal experience getting the Covid vaccine. Gretchen Reynolds shares the science of how exercise affects an aging brain. Anahad O’Connor explores the troubling link between alcohol consumption and cancer. Even if you don’t have kids, I think you’ll enjoy reading “My 4-Year-Old is a Destroyer,” which is a delightful tale about a really curious child.”

— Tara Parker-Pope