Broker Check

April 2024 Newsletter

April Newsletter: Speedometers sprout green!

Uniquely Waterstone for our unique Waterstone clients 

In this Issue: 

  • CNR Speedometers see spring green.

  • Magnificent Seven stocks at what price?

  • Take a look at a dividend and income strategy.

  • On the Mark: Fear of Markets?

  • Care of Choice

  • Book: Sisters in law, Bader Ginsberg and Day O’Connor


Green in time for spring! Enough progress occurs among CNR’s 20 indicators to click towards growth! Even equity market valuations are on “the line” towards better valuation. Smile and breathe a little more ease. Keep reading about equity markets below…..



The Magnificent Seven continue to earn, profit and grow.  They are investing in ongoing R&D and artificial intelligence (AI) to potentially drive growth in the coming years. Their stock prices, however, are getting expensive at roughly 30 times a dollar of earnings (p/e of 30) vs the general market at roughly 15 times (p/e of 15) 

Risk still exists for the Mag Seven include high investor expectations (frothy tech markets) and an increasingly choppy economic environment.   Additionally, signs of global economic weakness could impact certain big-cap tech stocks more than others. Heightened geopolitical tensions and regulatory questions may also linger throughout 2024.  It would be very reasonable for a healthy consolidation/repricing/pull back of these stocks.

Analysts see market breadth improving as investors look beyond the top 7. Note that the Magnificent Seven have been prudently in your investment strategy, just not in the high concentration of the S&P 500. Expensive pricing makes portfolio managers on guard and looking elsewhere for earnings with better value to better manage risk.

There are other companies performing well and offer opportunity. Small and midcap stocks are forecasted to outperformed the Magnificent Seven in 2024. Value and dividend-oriented stocks are viewed as opportune. 

Smile and breathe a little easier.  Keep reading about dividend-oriented stock strategies below…..


Why would you look at Guided Income System (GIS), a monthly income program during retirement?

Guided Income System (GIS) is an AssetMark program structured for monthly income during retirement.  The dividend and income structure addresses some practical management issues for predictable cashflow during changing markets and changing life needs.

Here are 4 applications that give “pause for thought”:

  1. It’s a method to dollar-cost-average out of your qualified plans for the same reason you dollar-cost-averaged into retirement plans.  It’s small monthly withdrawals under a variety of market conditions lessening the impact of dramatic moves.  One goal is to prevent panic selling and portfolio disruption when market stress occurs. 
  2. It makes a dependable base of your Required Minimum Distribution (RMD).  Investments are structured and managed for short, intermediate and long-term income goals with strong use of dividend equity and income investments. 
  3. When a spouse dies, one Social Security check is gone.  Most household budgets are based on two checks.  Structuring dependable income continues that “peace of mind” monthly deposit for household stability. It’s flexible enough adapt to life ahead.  (Think remarriage.)
    It’s another foundation for retirement stability.   The system is three  professionally-managed portfolios focused on dividends and interests with conservative growth investment considerations over time.  Skilled portfolio professional navigate changing interest rates, inflation environments and shifting asset focuses on your behalf.
  4. It takes the heat off of high growth investments, buying them time to weather changing conditions and allow corporate strategies to blossom.

Click here to view the Guided Income System overview video.  Connect to arrange a discussion with Josh or me to see if this strategy might serve you now or later.  Think ahead.


Wisdom that’s “On the Mark”, March 2024
Fear of Missing Out!  Fear of Losing Out!

“Markets are living organisms that have a life of their own. They are hard to predict and hard to time, so what is an investor to do to remove the fear of missing out or the fear of losing it all?  

Have a plan and stick to it! Prepare portfolios for different market environments before they occur by diversifying them across different investment strategies. Understand the role of investments in your portfolio and know that they are not all going to perform in the same way all the time. But over time, they should provide you with a smoother ride and take some of those emotions out of investment decisions, knowing something in the portfolio is working in the current market environment.”

Click here for the full article posted on WFS blog.

Later Life Care of Choice!

Fred and I recently met Mr Schwartz, age 96, a bright, energetic, long-tenured timeshare member (1993) at Vidanta resort near Puerto Vallarta.  After the death of his wife in 2010, Mr Schwartz started spending 4 to 6 months a year at a 2-bedroom unit on a top floor overlooking the ocean.  Each year family and friends of several generations known as the “Margarita Team”, coordinate for their 1-to-2 week Mexican vacation with Mr S. 

His visitors can scamper off to the daily activities of the resort or just hang out/read on this primo deck.  Mr Schwartz and guests generally dine together at nearby resort eateries or order room services. (He has a scooter.) The onsite deli/grocery keeps basic supplies in his fridge. Meanwhile, housekeeping keeps the unit pristine.  There is a medical clinic onsite which has not been needed.  A personal trainer regularly takes Mr S to the gym to make sure he’s getting strategic exercise.   

Mr Schwartz appreciates his team’s time and attention. The ongoing relationships are kept strong and active with quality time together.  Mr S acknowledges that this happy lifestyle works because of his continued good health, his savings and his timeshare purchase long ago. Resort living is more fun and cheaper than independent living in the NYC area!

May it continue for him to his very end.  May we all be blessed with living our best lives!  ( I am taking notes and hope for a similar lifestyle!!)

What we’re reading

Sisters in Law, How Sandra Day O’Connor and Ruth Bader Ginsburg Went to the Supreme Court and Changed the World, by Linda Hirshman


These ground breaking women fought for recognition in a male-dominated profession and went on to transform the Constitution and America itself, making it a more equal place for all women.  Their friendship added to their power to impact employment discrimination, abortion, affirmative action, sexual harassment and other issues crucial to women’s lives. 

Consider this book for young females in your circle who contemplate law as their life’s work.

Accurate film follow-ups:   On the Basis of Sex (2018) and RBG, documentary (2018); Sandra Day O’Connor, The First (2021)

Note: Kathy will next be in the office June 17 to July 1, then July 20 to July 27+:    Josh is local, accessible and always appreciated.

Thanks if you've read to the end. You're our kind of people.
Reach out to us with your questions, comments, needs. 

Securities offered through American Portfolios Financial Services, Inc.(APFS) Member FINRA /SIPC. Investment Advisory Services offered through American Portfolios Advisors, Inc. (APA), an SEC Registered Investment Advisor. Waterstone Financial Services is not affiliated with APFS and APA. 

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