Jack McCarthy

As demand from banks and other real money investors returns—and money market demand wanes—agency mortgage-backed securities are poised to benefit. Voya's Jeff Dutra, CFA, Justin McWhorter, CFA, CPA, and Greg Goodson, CFA, explain why investors who are searching for diversified sources of value may want to consider a fund that invests in this sector in Opportunity Knocks in Agency Mortgage-Backed Securities. Read more here: https://lnkd.in/e6wXSNvZ ​

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I occasionally like to scan through the PE subreddit to keep a pulse on what early career fund managers and others looking to break into the industry are talking about. Recently, I found a question asking if it’s possible to achieve a healthy work/life balance and realized I haven’t said a lot here on the topic. In private equity, the demands are high, especially for those starting out. That means long hours, weekend work, and constant travel are common—making burnout seemingly inevitable. However, here are some ways that I’ve been able to keep that burnout at arm’s length over the years: - Establish clear work hours and communicate with your team to ensure mutual respect for personal time. - Prioritize high-impact activities and delegate when you can. - Remember to take care of your physical and mental health. Regular exercise, a balanced diet, and adequate sleep are non-negotiable. Personally, I favor ice or street hockey to stay fit. - Make time for family and friends to maintain a support system. Nurturing these relationships provides emotional support and helps maintain a sense of normalcy outside of work. - Find ways to give back—you would be amazed at how great it feels to help others who may not have the same options or opportunities you do. Through the Frank Family Foundation, I established as a teen entrepreneur, my mom and I work together to determine which nonprofit organizations to support. We take the time to meet with those in need so we can understand how best we can help. Remember, your career is a marathon, not a sprint. You’ve got to find a way to work toward your goals while maintaining a fulfilling personal life if you want to outlast your competition. https://lnkd.in/db4EJh9k

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It is summertime in the US and thus baseball season! My latest article takes on the success, or lack of it, for the largest ETF issuers in the manner of Major League baseball. https://lnkd.in/gs4nXqBW

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Rate-cut reluctance 📉 Federal Reserve Bank of Minneapolis President Neel Kashkari believes the central bank is well-positioned to observe incoming data before considering any interest rate adjustments. Fed policymakers recently revised their rate cut projections for this year to just one, a significant change from the initial estimation of three cuts in March. Kashkari hinted that if a rate cut occurs in 2024, it would likely be towards the end of the year. 🌐 Globally, the era of accommodative monetary policies that bolstered emerging-market bonds seems to be fading. Returns from emerging-market local-currency debt are now lagging behind dollar-denominated counterparts by the largest margin in two years. Rising inflation has tempered expectations for further rate cuts in Latin America and Eastern Europe, while policymakers in Asia are showing a growing reluctance to ease policies in line with the Fed's stance. 🌍 #RateCut #FedPolicy #GlobalEconomy

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Tax-loss harvesting isn't just a year-end checkbox—it's a daily opportunity to optimize our clients' portfolios. Check out my video to learn how Vise's TLH algorithm works.

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My wife and I attended our first Berkshire Hathaway meeting in Omaha, Nebraska. Some things we heard: I don’t care what analysts think about the company, I care what our shareholders think about the company. Now generating more than a $100 million a day! The math of compounding and a long runway has done wonders. You should look up the shares outstanding slide. Can’t buy back the shares in a big way when our shareholders don’t want to sell it in a big way. Sold 115 million shares of AAPL Paid 21% tax on gains. Used to be 35% and as high as 52%. With fiscal deficits the government may decide to take a larger share in the future. We think it’s appropriate as a company to pay its fair share. We paid $5 billion to the US government last year. If 800 US companies had done that no person in America would need to pay taxes. If tax rates are higher then you’ll be glad we sold some Apple this year. Buffett accidentally addresses Greg Abel as “Charlie”. Utility question: There is going to be enormous money spent on power! If you look at the increase in demand for the power and the amount of money that will need to be spent to produce that power, it will be incredible. The utility is 100 years old and due to AI and data centers, demand should double in just 10 years! If you look at the end of the 2030’s it triples. It requires a $6-10 billion spend for just the mid America utility. Start with how you would like your obituary to read. Then go to school, make good decisions and work to make it come true. Buffett says Abel should be in charge of Berkshire investment decisions when he's gone. Buffett reveals that Berkshire is considering an investment in #Canada. #amazing #invest #investing #berkshire #buffett

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In Part 2 of our three-part series on bringing order to your investment universe, we looked at Transitions and Taxes, or how to balance sensible tax management with effective investment planning. Today, we’ll wrap our series with additional ways to ease your transition from chaotic to more orderly investing. Some steps are purely practical. Others help you remain calm and confident along the way. We can mix and match them as needed to contribute to your investment success. Read the article here 👉 https://buff.ly/3zplWPl #financialplanning #investing #Denver

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The popular VC Secondary Series interviews have been compiled into a free book available at the Point Capital website. Expanding the series to now include PE Secondaries interviews. In this initial release, Mike Pugatch, a 20-year veteran at HarbourVest Partners, offers his knowledge and perspectives. Published on SecondaryLink. For a copy, DM with your email. “Ultimately, we are looking for opportunities that are in the heart of or at the front end of that strong value creation curve. The bulk of the return really comes from that go forward value creation. That is not to say that we don't like the discounts in the market, we certainly do where we can find them, but we consider ourselves to be more value oriented irrespective of whether that value shows up as an optical discount to NAV.” 👇 https://lnkd.in/gmrK8ifj

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Trailling PE Ratio Premium/Discount of Small vs Large (Topdown 1973-2024) https://ow.ly/qiPC50TAI1S

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