The [it’s already] November Newsletter

In this newsletter:

• The S&P is up about 2,000% since 1987.
• Raymond James releases Q4 earnings.
• October Monthly Recap from Raymond James.

Nate Collins works with a select number of business owners and their families to help achieve their financial goals. Nate provides in-depth tax-mitigation strategies and estate planning.

MY MARKET HISTORY LESSON

October 19, 2024 marked the 37th anniversary of the 1987 market crash during which the S&P 500 posted its largest one-day decline (~20%). While it took nearly two years to recover the losses, the S&P 500 has gone on to rally ~2,000% on a price basis (an annualized return of 8.5%) and has notched 728 record highs since that date. The point – panic selling during periods of volatility can oftentimes be a significant impediment to performance, as “time in the market, not timing the market” is more important.

Sometimes the stock market pulls back after a presidential election as investors find reasons for concern. However, history has shown that the market is resilient.

?

MY COMPANY

Raymond James Financial announced record financial results for Q4 and fiscal year 2024.

Quarterly net revenues rose 13% year-over-year, driven by higher asset management, administrative fees, and investment banking revenues. Net income available to common shareholders increased 39%. For the full fiscal year, net revenues reached $12.82 billion (up 10%), with earnings per diluted share of $9.70 (up 22%).

CEO Paul Reilly highlighted the company's diverse business strengths, record client asset levels, and robust growth pipelines. The Private Client Group and Asset Management segments delivered record net revenues and pre-tax income, with return on common equity at 18.9%.?

Read the press release here.

?

RAYMOND JAMES MARKET RECAP

October 2024

The S&P 500 nearly extended its positive streak to six months but fell short due to late-month tech losses.

Better-than-expected economic data pushed interest rates higher, challenging Fed rate cut expectations. The 10-year Treasury rose 48 basis points to 4.27%. Despite early recovery attempts, indexes ended slightly negative, with the S&P 500 down 0.6%. Communications services and financials performed best.

The index remains on track for its second consecutive 20+% year, a feat not seen since 1998, and is poised for its strongest pre-election performance since 1932.

Full market recap here

YOUR CALL TO ACTION

If you're a business owner who hasn't updated your estate or personal tax strategy recently, now is the time. Let's connect and ensure your business and personal wealth strategies are aligned for maximum benefit.

Nate Collins, CEPA?

Financial Advisor

[email protected]?