Treussard Capital Management

Blindly assuming *anything* is poison: →Don't assume the market only goes up. ...and... →Don't assume the market is bound to go down (and don't assume that *somehow* you know when). Take a hard look at: - Historical data. - Your own biases. - What you know that just ain't so. →The past does NOT owe us a repeat performance. →The future does NOT owe us something radically different either. Be prepared to be WRONG. And even then, be prepared to act with calm, dispassionate decisiveness. It never stops. That's the good news. ?? Repost this to your network to share these insights now ??

At this point, it's hard to remember the Global Financial Crisis. - People focus on the recent past, not the distant past. - Some people weren't even around then. (I spoke with some of them at USC Marshall School of Business this week in Shane Shepherd's class. The Investment Fund students were bright... *really* bright. They just weren't around then and don't carry those lessons with them.) But when you find yourself in a *real* crisis, RISK MANAGEMENT can quickly be the difference between getting through to the other end or not. → Knowing your exposures → Knowing what could happen to those assets → Knowing that you could hold on and get to "dawn" on the other end. Now, not everything that's UNCOMFORTABLE is a crisis. It helps to remind yourself of that fact. But when a *real* crisis hits... Risk management is survival → And at that point, survival is everything ?? Please repost this to your network ?? ?? Want more? →Follow me on LinkedIn for more insights: Jonathan Treussard, Ph.D. →Sign up for my newsletter https://lnkd.in/grbJKA8U Disclaimer: This is education, not financial advice.

There is one thing that investing offers ZERO shortcut on: → DISCOMFORT. Professional investing is about a lot of things: - Knowing the mechanics of markets - Understanding the drivers of market returns - Engaging in the game theory of other investors' actions But there is one thing that cuts across all of these dimensions: → The ability to SIT with DISCOMFORT. It does NOT get easier. It does get more familiar. Maybe that's what experience is... You don't know what happens next You never have and you certainly never will But you take comfort in your knowledge and experience You also accept the limits of all of it, both theory or data. → And you sit there with your discomfort, asking it what valuable information it holds. If you find yourself in this place this week, maybe because of the market or because of the looming US election, you're not alone. Sitting with discomfort is what I do for a living. I accept this as "what is." There is no shortcut. Good news is that's a state I don't mind. Nature vs. nurture? ?? Please repost this to your network so more people can learn ?? Disclaimer: This is clearly *not* financial advice. Hopefully, this is education.

Here are 3 easy portfolio health checkups ahead of Dec 31... I promise it's closer than you think! →?They could transform how 2025 looks for you. Ready, set? Grab your statements... 1. Find if there are positions that have meaningful *unrealized losses*. 2. Sort out if you have "concentration risk"... maybe a jumbo position that got even more jumbo with market gains recently. 3. (Extra Credit) Figure out how much cash you're sitting on, and that includes money market funds... Now, consider the following.... →?You could sell the positions that have losses and use those losses to reduce your concentrated positions (at least some) without incurring a big fat tax bill. →?Together with that extra fat cash position, you could reposition your portfolio for more diversification and (hopefully) a risk-reward profile that is better aligned with what you need (and want) for the long run. We have names for those things: →?tax-loss harvesting →?risk management Just sayin' ?? To be clear... →?This is *not* financial advice, I am not telling you what to do. →?I am just telling "look here and think through what could make sense for you." What that is is personal. → I am just pointing out that you may have some room to maneuver... →?So, this is purely education. Please talk to a pro if helpful. Now if you are looking for a partner in sorting out these types of things (and much more), reach out. ?? ?? Please repost this to your network ??

You've been working hard and creating success for yourself and those around you. → Along the way, you realize that the *burden of getting things* right when it comes to your wealth is growing. → You also realize that getting people to be *on your side of the table* isn't always obvious, especially when "looking after your affairs," as they say, is becoming lucrative business for people out there. On this journey, I'm guessing you've increasingly become aware of "Family Offices." **I've worked for billionaires in their family office.** Let me tell you what a family office is really about and how you can approximate one along the way, long before your wealth grows to the level that make a formal family office a practical idea...

I betcha you own ETFs, right? (stands for Exchange-Traded Funds ??) After quietly leading the "Boring Revolution" in investing for 30 years... ETFs are entering a new phase: →It's REVOLUTION 2.0 - Less boring, for sure. - More ways to get burned also. ?? ?? Remember those amusement park rides where you had to dodge zombies and mutants, while saving the innocent? → Investing in ETFs today feels a bit like that! How do you separate the space mutants from the innocents on this ride??? My latest newsletter is a quick guide to tell apart: - Good ideas - Silly ideas - Conflicted ideas - Dangerous ideas They're all out there, coming into the ETF space... Get oriented and be prepared for ETF REVOLUTION 2.0. →Read the full piece here: https://lnkd.in/gVkbH3Bq Have you come across new ETFs? Friends or foes? ?? Repost this to your network is you like ?? ?? Follow me for more insights Jonathan Treussard, Ph.D. ?? Get actionable insights 1x / week → Learn on your *wealth* journey- join us here: https://lnkd.in/grbJKA8U Disclaimer: This is for educational purposes only, and is in no way financial advice. Consult a financial advisor before making investment decisions.

Two things people really hate thinking about? Taxes and their own death! Sweet... Let's talk about Estate Planning! It's almost as fun as accounting and insurance, but with more taxes and death baked in... ?? Was reading David Haughton, JD, CPWA? yesterday on a couple of important topics. I know, I know... You love all your children the same and you want to treat them equitably, right? The "obvious" way to go about splitting your estate: Right down the middle? Well, that ignores that your adult kids might face different tax burdens, based on income, states where they live, etc... A more *after-tax* equitable and TAX-EFFICIENT approach may be to give: →?More highly-taxed assets to the kids with the lower tax burden →?More lightly-taxed assets to the other kids. →?And super-duper taxed assets to charity. Another fun fact as you're thinking about what money might do to your kids' motivation? Think about creating INCENTIVES via your trust: →?POSITIVE gates: more access to funds for *academic achievements* or *making a living independently* →?NEGATIVE gates: less access for *substance abuse* or other *self-sabotaging* acts. And then there is conveying family values by getting the next gen involved with charitable funds... That's really a good one, too, David! Brent Sullivan ?? - You might enjoy the tax stuff ?? *** ?? repost to share with your network ?? enjoy my content → follow me Jonathan Treussard, Ph.D. for more in the future Disclaimer: This is purely education, not financial advice. You should talk to an estate or financial pro about any of this.

Things That Are Constantly Changing Around You: - Your health - Your relationships - What matters to your family - What it takes to thrive and succeed - How to best use your time and resources ???What am I missing in the list above? Things are shifting *ALL THE TIME* Sometimes slowly. ?? Sometimes quickly. ? But... it's all too easy to: - Operate based on what you *knew* yesterday. - Not revisit assumptions because you're *too busy* elsewhere. - Wait for the big changes that the world won't let you ignore another minute. Build a practice to ask: "What did I?*know*?yesterday that's NOT serving me well today?" → You'll be shocked how empowering that is.??? *** ?? repost to share with your network ?? enjoy my content → follow me Jonathan Treussard, Ph.D. for more in the future