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Q2 Market Recap: Inflation, Jobs, Tech Stocks, & Investing Advice for the Second Half of the Year

Release Date: 07/17/2023

The Future of Work: AI's Impact on Your Career & Wealth Strategy with Liza Adams

Off The Wall

AI is evolving fast, but what does it mean for how we think, work, invest, and lead? In this episode of Off the Wall, David B. Armstrong, CFA, and Nate W. Tonsager, CIPM, sit down with AI & Exec Advisor and Fractional CMO Liza Adams to unpack AI’s real impact and how the most successful leaders are using it. From creating your own GPT to navigating the fear of job loss, they explore how AI is transforming everything from creative thinking to strategic decision-making. Bonus: Liza shares her GRACE framework for writing better prompts and explains why embracing AI as a thought...

Q1 Market Recap: Tariffs, Inflation, and Growth—Reading Between the Headlines

Off The Wall

Are tariffs the problem or just a symptom? Recent tariff announcements are stirring up uncertainty. What does that mean for inflation, economic growth, and investor sentiment? In this episode of Off the Wall, hosts Jessica Gibbs, CFP®, and David B. Armstrong, CFA, are joined by Monument Wealth Management’s Portfolio Management team Erin M. Hay, CFA, CMT®, and Nate W. Tonsager, CIPM® to address the biggest market headlines in the first quarter of 2025. Dave breaks down where we’ve seen the biggest market swings, Erin digs into how sector rotation and technical indicators are shaping his...

Should You Invest In Private Equity? Weighing the Pros and Cons with George Coyle

Off The Wall

Private Equity seems to be having a moment. After a few decades of being reserved for the most qualified investors, the gates have been opened to the masses. Today, we’re looking at just why this shift is happening, what it means for you, and what you should consider before investing in Private Equity including returns, fees, and flexibility compared to the stock market. In this episode of Off the Wall, hosts David B. Armstrong, CFA®, and Erin M. Hay, CFA®, CMT®, are joined by George Coyle, Chief Investment Officer of Triangulated Capital Management to answer the most pressing questions...

Does Your Money Have Meaning? How to Understand the “Why” Behind Your Wealth Goals with Marla Sofer

Off The Wall

The most common question advisors get is, “What should I do with my money?” The most common answer? “It depends.” Today, we explore the “why” behind that question and dive deeper into how it connects to your evolving life goals. In this episode of Off the Wall, hosts Jessica Gibbs, CFP®, and David B. Armstrong, CFA®, are joined by Marla Sofer, founder of the fintech startup, Knomee. We discuss the journey to self-actualization, how understanding your purpose influences financial decisions, and why clarity on your goals makes money management easier. But how do you define your...

We’re Back: 2024 Market Analysis and 2025 Predictions

Off The Wall

Happy 2025! We’re reviewing what happened in the markets and economy in Q4 2024 (and 2024 as a whole), noting what caught our attention and why. In this episode of Off the Wall, hosts Jessica Gibbs, CFP® and David B. Armstrong, CFA® are joined by Monument Wealth Management’s Portfolio Management team, Erin M. Hay, CFA®, CMT® and Nate W. Tonsager, CIPM®. Dave breaks down S&P sector performance, Erin delves into Small Caps, and Nate shares his take on the death of active management. Then tune in to hear how Dave, Erin and Nate fared on their 2024 predictions, and what they...

From DAFs to Charitable Trusts: Choosing the Right Path for Meaningful Philanthropy

Off The Wall

As the giving season draws near, you may be wondering how to take advantage of charitable giving deductions on your tax return, make a greater impact with your donations, or weave philanthropy into your family’s legacy. In this Off the Wall discussion, Monument’s Emily Harper will be hosting and interviewing our regular host, Jessica Gibbs, about all things charitable giving. Are you wondering how to take advantage of charitable giving deductions on your tax return, make a greater impact with your donations, or weave philanthropy into your family’s legacy? ...

The Sandwich Generation: Protecting your Parents' Assets and Their Legacy with Catherine F. Schott Murray

Off The Wall

Aging parents present unique challenges, especially for the sandwich generation, who juggle caring for their parents while raising their own children. In this episode of Off the Wall, Dean Catino, CFP®, CPWA, and Jessica Gibbs, CFP® speak with Catherine F. Schott Murray, a Shareholder and expert in Estate Planning, Tax, Estate and Trust Administration, and Elder Law at . They discuss the critical importance of starting conversations about estate planning, navigating legal considerations for parents with diminished capacity, and the role of trusts in asset protection. The...

Q3 Market Recap: Fed Rate Cut, Labor Market Dynamics, and Predictions for the Rest of 2024

Off The Wall

We're reviewing the Q3 2024 market and year-to-date trends, reflecting on our surprises, and highlighting our key insights drawn from the data. In this episode of Off the Wall, host Jessica Gibbs, CFP® is joined by Monument Wealth Management’s Portfolio Management team, Erin Hay, CFA, CMT and Nate Tonsager, CIPM. Tune in to hear our discussion on the strong yet volatile performance of global equities, the impact of the Fed's 0.50% rate cut, and observations of China’s capital markets. The team also explores market participation, seasonality, and labor market...

Economist Bob Stein’s Take on the 2024 Presidential Race and Future of our Economy

Off The Wall

How will the 2024 election affect the economy, the markets, the deficits, and your wallet? Our favorite economist is back on the podcast for a third time with his straightforward opinions! Bob Stein is the Deputy Chief Economist at First Trust Advisors, where he’s responsible for commenting on and forecasting the U.S. economy. In this Off the Wall discussion, Bob shares his thoughts and predictions for the 2024 electoral races for the House, Senate and White House, and their impacts on the American people. Bob breaks down the scenarios and...

Burnout-Proof Leadership: 3 Ways to Prevent and Overcome Burnout

Off The Wall

Did you know that nearly half of employees and managers report experiencing burnout in 2023? As our lives get busier and competition in the workplace grows, it’s an unfortunate reality… So, how can high achievers prevent burnout while still working towards their goals? Here to talk about it is Rachel Boehm, a Behavior Change and Performance Coach and Psychologist who’s transforming the way we work. In this Off the Wall discussion, you’ll learn science-based ways to sustain peak performance and be a burnout-proof leader. Rachel shares the sneaky...

More Episodes

In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs are joined by Erin Hay and Nate Tonsager from Monument Wealth Management’s portfolio management team. They dive into a lively and comprehensive discussion on market performance and key highlights of the second quarter of 2023.

Tune in to discover their insights on the robust job market, characterized by strong hiring figures and wage growth, the resilience of the market despite negative headlines and the anticipation of higher interest rates, and surprises from the first half of the year, including the absence of a recession and the disconnect between people’s perception of their portfolios and market realities.

They also explain why historical data suggests we could possibly have a promising second half of the year and discuss the importance of managing expectations.

“People are still getting wage growth. People have jobs and feel comfortable leaving their jobs because they see their prospects in other markets really kind of in a positive light, which is kind of crazy to think about when, as we said at the start of this, the great recession was coming this year… Really you haven’t seen that.” - Nate Tonsager, CIPM

If you have an idea for an episode or a guest you’d like us to bring on in Q3, email us at [email protected]. Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.  

Episode Timeline/Key Highlights:

[02:30] Q2 market performance summary

[04:19] Top 5 contributors to the S&P 500 in Q2.

[05:35] Worst performer in the S&P 500 during Q2.

[06:15] Surprising trends from the first half of the year.

[09:31] What performed well in Q2?

[18:24] The resilience of the market despite negative news.

[20:45] The discrepancy between individuals’ perceptions of their portfolios and market realities.

[23:40] Interpreting the data and actions for investors.

[25:15] Analyzing historical data to project forward returns for the S&P 500.

[27:25] Review your portfolio and adjust based on market conditions.

[30:30] Forecasting the market’s trajectory for the remainder of 2023.

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About “Off the Wall”:

OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.

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