August 10th, 2024 In-Person Chapter Meeting & Webinar at new venue

What’s the Market Smoking? Valuation, Concentration, Confidence and Complacency Are All Quite High.

Announcements:

• Starting this month, we will meet in the fellowship hall on the ground floor of Fairmont United Methodist Church near NC State. For parking and building entry instructions, see location details below.
• We have four Special Interest Groups/get-togethers that meet monthly. Please see the Chapter Information web page for more details.

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The stock market has been on a tear, led by AI-enthused stocks like Nvidia. Even misplaced expectations of multiple interest rate cuts by the Federal Reserve have not dissuaded investors from their bullish outlook. And, meme stocks are back, Roaring Kitty says so! Investors should carefully review what history has to say about current market conditions. That will be our objective at the chapter meeting.

What you will learn:

• The historical record would suggest below average returns over the next 10 – 12 years given today’s high valuations.
• Strategy diversification is important when most all asset classes are fully valued.
• The discipline to rebalance your portfolio will be critical.
• The option value of cash is considerable at today’s high valuations.

Meeting Details:

Date: Saturday, August 10, 2024

Time: 10:00 a.m. ET (mix and mingle starts at 9:30)

Location: Fairmont United Methodist Church: 2501 Clark Avenue Raleigh, NC 27607. Parking is available on the west side of the church (accessible only from Clark Ave.) and across the street, north east of the church. Please follow signs to enter the building. The north entrance on Clark Ave. requires going down 18 stairs. The southeast entrance on Horne St. only requires going down 3 stairs.

Virtual access: To register to attend the Zoom webinar, please purchase a ticket on our chapter’s Square account

Cost: $7 cash (in-person) or electronic payment (webinar)

Before attending in person, please read:

• the AAII Protocol for In-Person Meetings

If you feel sick, please join us virtually.

About Our Speaker

John earned a BA from Davidson College and a PhD from UNC-Chapel Hill.  He has held faculty positions at the University of Virginia’s Darden Graduate School of Business Administration and UNCG’s Bryan School of Business and Economics.  John’s practical experience includes trading commodities for a NYC investment bank and relationship and investment management roles for private wealth and family office firms.  He holds the Chartered Financial Analyst designation and is a member of CFA Institute and the CFA NC Society.  John’s community involvement includes the United Way of Greater Greensboro and Family Service of the Triad.

John is the Chief Investment Strategist for Piedmont Trust Company. For over 95 years, Piedmont Trust Company has served as the family office for a large Greensboro-based family now in its sixth generation.  Piedmont also works with other multi-generation families to meet their investment management, fiduciary, tax planning, foundation administration, and estate and financial planning needs.