Holiday Cheer
2024 has proven to be a year that gave investors reason to celebrate. There remains a certain sense of unease with overall valuations, no doubt a common Insights topic in the year to come, but there is little to complain about as we bring 2024 to a close.
More importantly, we hope this year has brought you all joy in a myriad of ways. Take some time to reflect, celebrate, and completely ignore your to-do list and inbox over the coming weeks. Trust us, your family will appreciate it, and we bet you will too.
We can’t emphasize enough how much we appreciate all the support during a transformative year at Gallant MacDonald. We continue to be amazed by the incredible group of clients, partners, and friends we are privileged to interact with every day. Wishing you and yours all the very best over the holidays and in the year to come!
Simple Joys of life we must not forget
Some positivity as we head into the holiday break! Read a few of these if you want a therapeutic experience or some activities to prioritize as we close out the year.
Not worrying about the small stuff – in the end, all of this has happened before, and it will happen again.
Amp It Up
This should fall in the category of annual reading for any founder or professional manager. We include it this month for anyone looking for good idea generation for their New Year’s resolution on the business side of life.
Organizations are not getting killed by their C players. Everybody knows who they are, and performance eventually is addressed. The people who kill organizations are your B players. It’s the scourge of the enterprise because there are many and they are generally accepted.
Clones
Maybe too technical for the December edition, but we are showing our bias in including an excellent piece on closet indexing from the folks at Edgepoint. It is amazing how prevalent this trend has become in recent years, as is the sheer scale of capital that is deployed in closet indexing strategies with large financial institutions.
This herd mentality has resulted in a flock of index clones that promise active management (and charge for it), yet their investors aren’t getting what they paid for. It’s tough to outperform the index when you own many of the same holdings as the index and demand high fees
Financially Successful
This is a quick read that is just incredible conversation fodder. An Axios survey reports that, on average, Gen Z believes they need to make almost $600,000 a year to “make it”. The Boomer generation and Millennials sit at $100k and $180k, respectively. That is quite the delta between generations (and actual average incomes…). We will let you opine on the reason at your holiday party.
Gallant MacDonald designs bespoke investment programs for a select group of institutions and families who have made significant contributions to business, public service, and philanthropy.
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