Show Notes:Cash is still pouring into money market funds…https://x.com/MikeZaccardi/status/1984585372366750138 (https://x.com/MikeZaccardi/status/1984585372366750138)S&P 500 Index vs. S&P 500 Equal Weight…https://x.com/dailychartbook/status/1985380197089370155 (https://x.com/dailychartbook/status/1985380197089370155)A Fed Cut in December?Source: Briefing.com “The Big Picture”https://www.briefing.com/InPlayEq/Commentary/TheBigPicture.htm (https://www.briefing.com/InPlayEq/Commentary/TheBigPicture.htm)Tech Performance YTDSource: X Post from The Trading Initiative on 11/3https://x.com/howtoswingtrade/status/1985521724297761236 (https://x.com/howtoswingtrade/status/1985521724297761236)Don’t Mix Politics And InvestingSource: X Post from Ryan Detrickhttps://x.com/RyanDetrick/status/1985356620168106074 (https://x.com/RyanDetrick/status/1985356620168106074)#325 Topics:* $7.5T in cash sits in money markets — fuel for future gains once rates fall below 3%.* Market concentration peaks — S&P 500 cap-weighted index beats equal-weighted by 13%, signaling opportunity in overlooked large-caps.* Fed uncertainty grows — odds of a December rate cut drop from 90% to 65% after Powell’s comments.* AI drives tech rally — strong earnings and spending power gains, but a 20%+ correction looms when AI growth slows.* Cautious sentiment lingers — investors hesitate despite market highs, risking missed opportunities.

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you!There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link:https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage $)Show Notes:Neil Sethi’s note from Citadel’s Rubnerhttps://x.com/neilksethi/status/1982421954809520252S&P Strength Before a Rate Cut?Source: X Post from Ryan Detrick on 10/29/25https://x.com/RyanDetrick/status/1983534425653625333 (https://x.com/RyanDetrick/status/1983534425653625333)Delinquencies IncreasingSource: X Post from Mike Zaccardi on 10/29/25, Research from Goldman Sachshttps://x.com/MikeZaccardi/status/1983533436464927167 (https://x.com/MikeZaccardi/status/1983533436464927167)Update on the Housing MarketSource: Research from Charlie Bilello on 10/29/25https://bilello.blog/2025/the-week-in-charts-10-29-25? (https://bilello.blog/2025/the-week-in-charts-10-29-25?utm_source=charlies-newsletter-88171d.beehiiv.com&utm_medium=newsletter&utm_campaign=the-week-in-charts-10-29-25&_bhlid=e778b88247d0c58d0ef0b1d95a33ed1ae1d320bc)Changes to Social Security in 2026 By: Donna Levalley on 10/27/2025https://www.kiplinger.com/retirement/social-security/changes-coming-to-social-security-in-2026 (https://www.kiplinger.com/retirement/social-security/changes-coming-to-social-security-in-2026)#324 Topics:·      Small caps’ rise to double digits after lengthy underperformance·      Fed Rate Cuts and Market Sentiment·      NASDAQ and AI Momentum Outlook·      Credit Delinquencies and Consumer Segments· Highlighting the strongest home buyer’s market in the U.S., sellers outnumbering buyers by 130%·      Social Security Updates for 2026

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/ (https://www.jessupwealthmanagement.com/)) just click “Schedule Initial Call” and select a time that works best for you!There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/ (https://www.jessupwealthmanagement.com/)) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage $) (https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode=%20JSPW24&VENDORID=%20_JESSUPWM&om_ext_cid=ext_partner_%20JSPW24_Productpage%20$))Show Notes:Blog Post from Ryan Detrick at Carson Investment Research titled “The Bull Market Turns 3” - https://www.carsongroup.com/insights/blog/the-bull-market-turns-three/ (https://www.carsongroup.com/insights/blog/the-bull-market-turns-three/)Post on X by SubuTrade on 9/11/25 - https://x.com/SubuTrade/status/1966234375256944823 (https://x.com/SubuTrade/status/1966234375256944823) Blog Post from Ben Carson “ Why I Don’t Own Any Gold” https://awealthofcommonsense.com/2025/10/why-i-dont-own-any-gold/ (https://awealthofcommonsense.com/2025/10/why-i-dont-own-any-gold/)Tweet by Josh Young “AI adoption vs the internet” 10-12-25https://x.com/Josh_Young_1/status/1977418333042733146 (https://x.com/Josh_Young_1/status/1977418333042733146)Truflation X Post https://x.com/truflation/status/1979218002500255777 (https://x.com/truflation/status/1979218002500255777)

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you!There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage $)Show Notes:Post on X from SubuTrade on 10.11.25 - https://x.com/subutrade/status/1977072437092401521?Blog Post from Ryan Detrick on 10/1/2025 - https://www.carsongroup.com/insights/blog/a-quarter-for-the-history-books-now-what-2/ Post on X from Michael Nauss, CMT on 9/13/25 - https://x.com/MichaelNaussCMT/status/1966286121782096094General Earnings ExpectationsSource: Research from FactSet on 10/14/25https://x.com/FactSet/status/1978222809215045765 (https://x.com/FactSet/status/1978222809215045765)https://insight.factset.com/sp-500-will-likely-report-earnings-growth-above-13-for-q3 (https://insight.factset.com/sp-500-will-likely-report-earnings-growth-above-13-for-q3)Earnings Expectations by SectorSource: Briefing.com Research on 10/10/25https://www.briefing.com/InPlayEq/Commentary/TheBigPicture.htm (https://www.briefing.com/InPlayEq/Commentary/TheBigPicture.htm)Small Cap Earnings GrowthSource: BofA Research, X Post from Mike Zaccardi on 10/4, https://x.com/MikeZaccardi/status/1974458481399710141 (https://x.com/MikeZaccardi/status/1974458481399710141)

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you!There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Show Notes:Blog Post from Ryan Detrick titled “Lets Talk About A Government Shutdown” on 9.16.25 - https://www.carsongroup.com/insights/blog/lets-talk-about-a-government-shutdown/ (https://www.carsongroup.com/insights/blog/lets-talk-about-a-government-shutdown/) Blog Post from JC Parets titled “Here’s The Bear Case” on 10.2.25 - https://trendlabs.com/heres-the-bear-case/ (https://trendlabs.com/heres-the-bear-case/) Foreigners Snap Up US StocksSource: Bloomberg 9/26https://www.bloomberg.com/news/articles/2025-09-26/foreigners-are-buying-us-stocks-at-record-pace-despite-trade-war? (https://www.bloomberg.com/news/articles/2025-09-26/foreigners-are-buying-us-stocks-at-record-pace-despite-trade-war?cmpid=092625_marketsdaily&utm_medium=email&utm_source=newsletter&utm_term=250926&utm_campaign=marketsdaily&sref=KaV2wJ0v)A Little History on Government ShutdownsSource: Bloomberg 9/30https://www.bloomberg.com/news/articles/2025-09-30/dollar-weakness-is-a-common-feature-of-government-shutdowns? (https://www.bloomberg.com/news/articles/2025-09-30/dollar-weakness-is-a-common-feature-of-government-shutdowns?cmpid=093025_marketsdaily&utm_medium=email&utm_source=newsletter&utm_term=250930&utm_campaign=marketsdaily&sref=KaV2wJ0v)Will vs Trust: Which is Right for Your Estate Plan?https://www.plancorp.com/blog/will-vs-trust (https://www.plancorp.com/blog/will-vs-trust)#321 Topics:Government Shutdowns and Market PerformanceConsumer discretionary outperformance versus staples reflects healthy economic leadership and a robust consumer-driven market Joel Tillinghast’s quote on the best investors’ ability to change their minds underscores the importance of flexibility in investing Foreign investors’ ownership of US stocks reached all-time highs despite tariff talkEstate Planning: Wills vs. Trusts

This week we will be joined by Cory Earl, President & Publisher of the Dayton Business Journal. With over a decade of leadership in Dayton’s business community, Cory brings unique insights into the current state of the Dayton economy, the industries driving growth, and the challenges and opportunities shaping our region’s future.Tune in to hear Cory’s perspective on how the DBJ supports local business, what’s fueling Dayton’s momentum, and where we go from here.https://app.precisefp.com/w/r37knl

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you!There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link:https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage $)Show Notes:Post on X from Alfonso De Pablos, CMT on 9.18.25 - https://x.com/AlfCharts/status/1968785798053925196 Post on X from Rob Anderson on 9.15.25 - https://x.com/_rob_anderson/status/1967631583059591615 Post on X from NullCharts on 9.16.25 - https://x.com/nullcharts/status/1968015060741292360 #319 topics:* NASDAQ Overbought Conditions Reaching Historical Extremes* Small Cap Renaissance Following Federal Reserve Policy Shift* Seasonal Strength Pattern Expected October Mid-Month* Through Year-End based on historical trading day analysis* Technology Sector & Bubble Comparison Analysis* Qualified Charitable Distribution (QCD) Strategy Implementation for tax-efficient charitable giving in 2025 tax year 

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you!There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage $)Show Notes:Data point from a Carson Group Blog post on 9.2.25 - https://www.carsongroup.com/insights/blog/here-comes-the-worst-month-of-the-year-2/Post on X from Nate O’Brien on 8.28.25 - https://x.com/nateobrienn/status/1961071008221204958

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you!There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage $)#317 topics:* Economic Data & Inflation * Market breadth held up well during April 2024 market lows, indicating broad participation rather than narrow leadership* Jobs Report Revision * Current bull market and indications that the current cycle has room to run* 'Sell in May and go away' strategy would have missed 17% S&P 500 gain this year

#316 topics:September Historically Weak* Current market positioning: No significant pullback since April lows, creating potential opportunity for buyers during September weakness.* Contrarian perspective: Excessive focus on September weakness in media might indicate potential for better-than-expected performance.Currency and International Markets* Dollar weakness driving international outperformance* Concerns about international markets' ability to maintain outperformance due to shorter work weeks and slower growth rates compared to US.Housing Market Dynamics * Supply-demand imbalance: Redfin data shows 508,000 more home sellers than buyers in June 2024.* Despite higher mortgage rates, household debt service remains below historical norms.* Oversupply of sellers versus buyers suggests potential downward pressure on home prices.Federal Reserve Policy Shift * Fed adopted new approach removing 2% average inflation target reference and focusing on employment shortfalls.AI Job Displacement Concerns* Historical analysis shows technological advances have created 6 billion jobs despite continuous industry disruption.Show Notes:Post on X by Ryan Detrick at Carson Investment Research on 8.29 - https://x.com/RyanDetrick/status/1961495356287463555 blog post from Jeff Hirsch on 8.27 - https://jeffhirsch.tumblr.com/post/793063284503953408/bears-have-been-running-wild-in-september-since Blog post from Taylor Schulte on 8.28 titled “6 Favorite Investing Charts - https://taylor-schulte.kit.com/posts/the-best-investing-charts-august-2025 Blog Post from Seth Klarman on 8.25. titled “Job Churn” - https://seths.blog/2025/08/job-churn/ If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you!There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage $)

Post on X from Frank Cappelleri on 8/11 - https://x.com/FrankCappelleri/status/1954978003668078791 Post on X from Jay Kaeppel on 8.15 - https://x.com/jaykaeppel/status/1956367983506305188 Democratizing Access to Alternative Assets For 401(k) Investors https://www.whitehouse.gov/presidential-actions/2025/08/democratizing-access-to-alternative-assets-for-401k-investors/ (https://www.whitehouse.gov/presidential-actions/2025/08/democratizing-access-to-alternative-assets-for-401k-investors/)#315 topics:* Warning against chasing 'the next big thing'* Consumer confidence data indicating bullish implications* Berkshire Hathaway's cash position analysis* New homes cheaper than existing homes for the first time ever.* Donald Trump's Executive Order allowing alternative investments in 401(k) plans.* If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you! There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_Productpage (https://urldefense.com/v3/__https:/lifelock.norton.com/offers?expid=LLONEYEAR&promocode=*20JSPW24&VENDORID=*20_JESSUPWM&om_ext_cid=ext_partner_*20JSPW24_Productpage__;JSUl!!FJHKqY2EgyjjgA!UmxRrej-KHNYvLy1umC7Upk_8JzAxsXzYMcZlbyigWCTvox6giG0XTCjKHvr0jPwcqB1nAkvtPSkwhSj4lD4Uv9u4rrmMwMYi78h95L8$)

Show Notes:Post on X from Mike Zaccardi on 8.13 - https://x.com/MikeZaccardi/status/1955722314433126899 Post on X from Jay Kaeppel on 8/11 - https://x.com/jaykaeppel/status/1954864380828361192?s=12&t=Godkt5FzuqWcmpmvo2G5Jg Post from Jeff Hirsch on 8.20 that shows the historical seasonality of the VIX from 1990-2024 - https://jeffhirsch.tumblr.com/post/792429184710557696/volatility-low-in-vix-historically-rises-to-an Article from Health System Tracker by Jared Ortaliza, Matt McGough and Kaitlyn VU titled “How much and why ACA Marketplace premiums are going up in 2026” back on 8/6 - https://www.healthsystemtracker.org/brief/how-much-and-why-aca-marketplace-premiums-are-going-up-in-2026/ 314 Topics* Matt's criticism of valuation metrics* Bond performance in rate-cutting environment* XRT Retail ETF notable performance contradicting predictions of supply chain disruptions* VIX typically reaches annual lows in late July and peaks in October - normal seasonal weakness ahead* Credit Spread Analysis* FedEx stock price historically leads world trade volumes* US business applications surging* Healthcare Premium Increases* Rate cutting pace preference – the slower pace of cuts is historically better for risk assets * If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) . Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs.Scheduling is easy—once you land at jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) just click “Schedule Initial Call” and select a time that works best for you! There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com (https://www.jessupwealthmanagement.com/) and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode=JSPW24&VENDORID=_JESSUPWM&om_ext_cid=ext_partner_JSPW24_Productpage

A few episodes back, Matt and Mark discussed how market forecasts and predictions can mislead investors and harm their mindset. The truth is, no one can say with certainty where the stock market will go. In fact, Mark joked that his 2-year-old daughter, Mia, has just as good a shot at predicting the market’s year-end 2025 performance as any professional. That led to a friendly bet—Mia would make her own forecast for the end of 2025. Here’s how it turned out.Listen: https://www.jessupwealthmanagement.com/podcast (https://www.jessupwealthmanagement.com/podcast?fbclid=IwAR1CHDMfEamBlnPgfzxq3MkCi-lm5PCg6B6nsVDISybeu958OY92EOnmsio)Watch: https://www.youtube.com/channel/UCISl5dXPZmaP-fmyL3Y25UQ (https://www.youtube.com/channel/UCISl5dXPZmaP-fmyL3Y25UQ?fbclid=IwAR0vhOkFXDPfBbFxlHiANwht7oTzfyvkIrCw3qAFBviwdosebnx4vG_vfAc)https://www.jessupwealthmanagement.com/disclosures-page (https://www.jessupwealthmanagement.com/disclosures-page)

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com. Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs. Scheduling is easy—once you land at jessupwealthmanagement.com just click “Schedule Initial Call” and select a time that works best for you! There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently. If you’re ready to learn more, visit jessupwealthmanagement.com and book your call today!Take advantage of our partnership with LifeLock and get discounts using our link: https://lifelock.norton.com/offers?expid=LLONEYEAR&promocode= JSPW24&VENDORID= _JESSUPWM&om_ext_cid=ext_partner_ JSPW24_ProductpageShow Notes:Post on X from Seth Golden about semi-conductors on 8/7 - https://x.com/sethcl/status/1953469529784209878?Post on X from Rob Anderson using NDR Research on 8/1 - https://x.com/_rob_anderson/status/1951369353267413216 Blog Post from Bespoke Investment Group “Tech Sector now 1/3rd of S&P” - https://www.bespokepremium.com/interactive/posts/think-big-blog/tech-sector-now-1-3rd-of-sp Tax Questions on Roth IRA Conversions By Joy Taylorhttps://www.kiplinger.com/taxes/tax-law/ask-the-editor-august-8-tax-questions-on-roth-ira-conversions (https://www.kiplinger.com/taxes/tax-law/ask-the-editor-august-8-tax-questions-on-roth-ira-conversions)#313 Topics:* SEMICONDUCTOR INDUSTRY* HEALTHSCARE SECTOR* THE GROWTH IN THE TECH SECTOR RELATIVE TO THE S&P 500* STOCK BUYBACKS* SURVEY DATA* ROTH CONVERSIONS 

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com. Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs. Scheduling is easy—once you land at jessupwealthmanagement.com just click “Schedule Initial Call” and select a time that works best for you!  There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently.If you’re ready to learn more, visit jessupwealthmanagement.com and book your call today!312 Topics:· July jobs report came in weaker than expected with higher unemployment rate· Historical pattern suggests potential weakness in mid-to-late summer through mid-fall before Q4 rally.· Tariff & Commodity News · Data Center Energy Consumption · Buy Now, Pay Later Trends · Earnings Season Volatility Show Notes:Post on X from Jason Goepfert on 7.31.25 - https://x.com/jasongoepfert/status/1950972585480745304?Post on X from Nautilus Research on 7.7.25 with an update on the 4-year election cycle for the S&P 500 - https://x.com/NautilusCap/status/1942202402414743758 Post on X from Renaissance Macro Research on 7.30.25 - https://x.com/RenMacLLC/status/1950646263969632257 Data Center Energy UsageSource: Zero Hedge X Posthttps://x.com/matthewcjessup/status/1949884142583267793 (https://x.com/matthewcjessup/status/1949884142583267793)Missed Payments RisingSource: The Kobeissi Letter X Posthttps://x.com/KobeissiLetter/status/1949476483346350323 (https://x.com/KobeissiLetter/status/1949476483346350323)Strong Earnings ReactionsSource: Mike Zaccardi X Post, BOFAhttps://x.com/MikeZaccardi/status/1952349009378431434 (https://x.com/MikeZaccardi/status/1952349009378431434)

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com. Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs. Scheduling is easy—once you land at jessupwealthmanagement.com just click “Schedule Initial Call” and select a time that works best for you! There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently. If you’re ready to learn more, visit jessupwealthmanagement.com and book your call today!Show Notes:Post on X from Ryan Detrick on 7.27.25 - https://x.com/ryandetrick/status/1949507848834068507?Post on X from John Kicklighter on 7.18.25 - https://x.com/JohnKicklighter/status/1946302639299342555Big Week for Market – What We Know Thus FarSources: Bloomberghttps://www.bloomberg.com/news/articles/2025-07-27/a-data-deluge-brings-a-moment-of-truth-for-markets-this-week? (https://www.bloomberg.com/news/articles/2025-07-27/a-data-deluge-brings-a-moment-of-truth-for-markets-this-week?srnd=homepage-americas&sref=KaV2wJ0v)Credit Cards & Car PaymentsSource: Bloomberg, VantageScorehttps://www.bloomberg.com/news/articles/2025-07-29/credit-cards-car-loans-see-defaults-from-high-earners-in-hit-to-economy?srnd=homepage-americas&sref=KaV2wJ0v (https://www.bloomberg.com/news/articles/2025-07-29/credit-cards-car-loans-see-defaults-from-high-earners-in-hit-to-economy?srnd=homepage-americas&sref=KaV2wJ0v)Historical Stock Market Returns … Accounting for InflationSource: Charlie Bilellohttps://bilello.blog/2025/triumph-of-the-optimists? (https://bilello.blog/2025/triumph-of-the-optimists?utm_source=charlies-newsletter-88171d.beehiiv.com&utm_medium=newsletter&utm_campaign=triumph-of-the-optimists&_bhlid=504d326e5ee575e691bb7fa45c09be7a73593c0b)Worried About Your Retirement Income? Four Questions to Ask Yourself, From a Financial Planner By Tony Drakehttps://www.kiplinger.com/retirement/retirement-planning/worried-about-your-retirement-income-questions-to-ask-yourself

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com. Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs. Scheduling is easy—once you land at jessupwealthmanagement.com just click “Schedule Initial Call” and select a time that works best for you!  There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently. If you’re ready to learn more, visit jessupwealthmanagement.com and book your call today!Show Notes:Existing Home SalesSources: Bloomberg, TradingEconomics.comhttps://www.bloomberg.com/news/articles/2025-07-23/us-existing-home-sales-fall-to-nine-month-low-on-record-prices? (https://www.bloomberg.com/news/articles/2025-07-23/us-existing-home-sales-fall-to-nine-month-low-on-record-prices?sref=KaV2wJ0v)Median Income Needed for Home PurchaseSource: Charlie Bilello, “The Week in Charts”https://bilello.blog/2025/the-week-in-charts-7-23-25? (https://bilello.blog/2025/the-week-in-charts-7-23-25?utm_source=charlies-newsletter-88171d.beehiiv.com&utm_medium=newsletter&utm_campaign=the-week-in-charts-7-23-25&_bhlid=9b0c0d717b252d40da133f2630208dd92034f947)A Change of the Fed Chair – What Does it Mean?Sources: Briefing.com, “The Big Picture”, FederalReserve.govhttps://www.briefing.com/InPlayEq/Commentary/TheBigPicture.htm (https://www.briefing.com/InPlayEq/Commentary/TheBigPicture.htm)https://www.federalreserve.gov/aboutthefed.htm (https://www.federalreserve.gov/aboutthefed.htm)310 topics:* American consumer demonstrates strength despite bearish predictions* Home prices continued growing, highlighting affordability challenges* Q2 Earnings- Majority of companies exceeding estimates* Trade Deals & Tariff Analysis - Finalized Japan trade deal * Market tariff sensitivity is declining* Healthcare Sector Analysis * Federal Reserve Structure & Independence 

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com. Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs. Scheduling is easy—once you land at jessupwealthmanagement.com just click “Schedule Initial Call” and select a time that works best for you!  There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently. If you’re ready to learn more, visit jessupwealthmanagement.com and book your call today!Show Notes:Post on X from Nautilus Research on 7.7.25 - https://x.com/NautilusCap/status/1942202402414743758Blog post from Ben Carlson titled “Not all stocks Recover Their Losses” on 5.30.25 - https://awealthofcommonsense.com/2025/05/not-all-stocks-recover-their-losses/ Today's topics:·       Current election year performance tracking seasonal patterns ·       Individual Stock Performance Research ·       Market Cycle Positioning ·       Tariff Policy Updates ·       Real Estate Market Concerns ·      Genius Act passed with significant provisions to Stablecoin Legislation

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com. Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs. Scheduling is easy—once you land at jessupwealthmanagement.com just click “Schedule Initial Call” and select a time that works best for you!  There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently. If you’re ready to learn more, visit jessupwealthmanagement.com and book your call today!Show Notes:Post on X from Ryan Detrick on July 1st - https://x.com/ryandetrick/status/1940124991451979924?s=12&t=Godkt5FzuqWcmpmvo2G5JgAnother post on X from Ryan Detrick on July 2nd - https://x.com/ryandetrick/status/1940517433443586194?s=12&t=Godkt5FzuqWcmpmvo2G5Jg Important “One Big Beautiful Bill” provisions – From “The Tax Advisor” website by Alistair Nevius, J.D. on 6.29.25 - https://www.thetaxadviser.com/news/2025/jun/details-of-tax-changes-in-senate-reconciliation-bill/ Episode 308 Topics:* June Jobs Report: US added 147,000 jobs - beating expectations * Historical Performance Data: S&P 500 gained >10% in Q2* Rare Market Pattern* Fed Rate Cut Probability* Hitting All-Time Highs Historical Data - markets typically continue higher* Tax Legislation Analysis of Trump Administration Bill

If you’ve been enjoying The Independent Advisors podcast for a while now and want to take the next step in your financial journey, I’d encourage you to head to our website, jessupwealthmanagement.com. Matt offers a 15-minute initial call where you can discuss your financial goals and see if JWM is a good fit for your needs. Scheduling is easy—once you land at jessupwealthmanagement.com just click “Schedule Initial Call” and select a time that works best for you!  There’s a quick survey to fill out that will help guide the conversation and ensure your time is used efficiently. If you’re ready to learn more, visit jessupwealthmanagement.com and book your call today! Show Notes:·       US airstrikes on Iran resulted in stocks rising 1% while crude oil fell 9% ·       Markets climbing a ‘wall of worry’ despite geopolitical risks ·       Currency impact on multinationals explained·       Rare market recovery pattern showing S&P 500 rallying from -18% ·       NASDAQ QQQ golden cross formed for first time since March 2023·       Small Cap vs Large Cap Analysis ·       Future Economic Scenarios and Fed Policy