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  • Writer's pictureJoe Cardello

Year End Thoughts

December 20, 2021

Happy Hanukkah, Happy Christmas, and Happy New Year

I am so grateful to have such a loving, kind, and selfless wife. She inspires me to appreciate more and to give more.

I have created a guide for myself this Christmas to try and bring a little more happiness to her, my children, my family, and my friends this season.

I’m sharing it with my readers because according to one of my clients (thank you for believing S.C.), August Wealth’s culture works because your business is you! Perhaps you might find the guide I created for myself useful:

My Christmas Goals:

  • Be Present: o Let the past go and don’t worry about the future. o It doesn’t really matter if you’re happy or sad. o It doesn’t really matter if you’re strong or weak. o It doesn’t really matter if you’re rich or poor. o It doesn’t matter if you are intelligent or not.

  • Be grateful and forgive: o Forgive anyone that’s upset you. o Take time to appreciate all you (already) have. o Don’t worry that others have more than you. o Don’t worry that life isn’t fair. o Don’t worry about those that try to take advantage of you. o Don’t speak critically of anyone.

  • Let Go: o Let go of your wants. o Let go of your comforts. o Let go of your seriousness. o Let go of your hang-ups. o Let go of your ego.

  • Exhaust all your energy by giving to others: o Be vulnerable o If you’re thinking of someone, let them know. o If you appreciate someone, tell them. o Be brave; don’t worry about embarrassment. o Show mercy to everyone. o Give without counting the cost.

On the Markets: I do not have much new to add other than to reiterate my previous notes that the markets may potentially be more challenging and volatile in the short term mainly because of:

  • Fed slowing pace of accommodation

  • Fiscal stimulus slowing

  • New Covid-19 restrictions

I think the following article from the Financial Times: provides a good summary of the current market situation.

August Wealth remains constructive on long term growth of the economy and equity markets, but we will continue to be more discerning and more defensive compared to our more aggressive stance 18 months ago.

Recommended Podcast (thank you K.H. for pointing out): The Prof G Pod with Scott Galloway #124 Office Hours: car/id1498802610?i=1000544785534 Scott Galloway is a professor at NYU’s Stern School, and he recently responded to a question asked about how much time someone should spend on their own investment portfolio. Scott’s response resonated with me, as it’s a message, we (perhaps less eloquently) explain to all our prospective and current clients. To provide a summary: He responded by saying the “Algebra of Wealth” goes something like this:

  1. Focus: Find your talent, find something that people will pay you money for and become great at it. Put your energy into this.

  2. Diversification: This will save you from any one bad decision. You will make bad decisions, but if you diversify it won’t be fatal.

  3. Time: Let time take over, which is another way of saying let the power of compound interest work for you.

He then went on to say that the danger of spending a lot of time on your own investment portfolio is that you will overtrade and take actions that will be counterproductive. “80 to 90 percent of day traders lose money” and it is essentially “gambling”. He goes on to say that people think they are doing something productive by trading, but what they are really looking for is a dopamine hit. He suggested you should spend “less time” on focusing on your portfolio and spend “more time” on:

  • Your wealth is more a function of what you save.

  • Focus on how to make money.

  • Focus on how to save more.

  • Put together a financial plan looking at income and lifestyle.

  • Execute on the plan.

Here at August Wealth, we wholeheartedly agree.

Happy Holidays,


Joseph Cardello, Principal August Wealth Advisors, LLC 51 Riverside Avenue, First Floor

Westport, CT 06880

Direct (916) 461-9451 toll free (800) 985-9477

Investment advice offered through Stratos Wealth Advisors, LLC, a registered investment advisor; DBA August Wealth Advisors. Trading instructions sent via email, fax or voicemail will not be honored. There is no assurance that these messages can be retrieved on a timely basis, nor is there any sure method of confirming the customers identity. The information contained in this email message is being transmitted to and is intended for the use of only the individual(s) to whom it is addressed. If the reader of this message is not the intended recipient, you are hereby advised that any dissemination, distribution or copying of this message is strictly prohibited. If you have received this message in error, please immediately delete. The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but August Wealth Advisors makes no representation as to their timeliness, accuracy or completeness. The opinions in this material are for general information only and are not intended to provide specific investment advice or recommendations for any individual.


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