Future Proof: sights and sounds from day 3
The Sandbox Daily (9.12.2023)
Welcome, Sandbox friends.
Today’s Daily is sharing the sights and sounds from day 3 at Future Proof in Huntington Beach, California.
It’s so inspiring to meet the high-performing individuals across our industry at the Future Proof wealth management festival here in Huntington Beach, California – people committed to their craft and focused on building a brighter future. We are learning a ton, meeting the brightest minds, and generating fresh ideas. We will be back to our regular schedule and content later this week. For now, please enjoy a few of the sights and sounds from Day 3 here at Future Proof.
Let’s dig in.
Markets in review
EQUITIES: Russell 2000 +0.01% | Dow -0.05% | S&P 500 -0.57% | Nasdaq 100 -1.11%
FIXED INCOME: Barclays Agg Bond +0.03% | High Yield -0.16% | 2yr UST 5.021% | 10yr UST 4.283%
COMMODITIES: Brent Crude +1.43% to $91.94/barrel. Gold -0.62% to $1,935.1/oz.
BITCOIN: +3.68% to $26,087
US DOLLAR INDEX: -0.02% to 104.545
CBOE EQUITY PUT/CALL RATIO: 0.70
VIX: +3.12% to 14.23
Quote of the day
“It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.”
-Mark Twain
Overlooking the Future Proof Boardwalk
Downtown Josh Brown, a Daily subcriber and reader
The surf at daybreak
J.C. Parets, Founder of All Star Charts:
“When we study market history, one thing that we know for a fact is that asset prices trend. If we know that, then we are going to spend the majority of our time looking for trends.”
Jeffrey Gundlach, Founder of DoubleLine Capital: “My hope is Jay Powell understands there is a massive increase coming at us in real time in the interest expense of the U.S. federal deficit.” Later, he added: “this should be our primary concern.”
Food Trucks
The Compound and Friends podcast with Josh Brown, Michael Batnick, and featured guest Rob Arnott of Research Affiliates: “Markets are moved based on narratives. And those narratives almost always are in large measure are true. That’s the good news. The bad news is the price already entirely reflects the narrative. So you don’t make money based on narratives at all. You make money based on narratives being wrong and identifying where and when they are wrong.”
Bob Elliott, Co-Founder/CEO of Unlimited and formerly Head of Research and the Investment Committee for Ray Dalio at Bridgewater Associates: “You must always ask yourself: are concentrating your risk or diversifying it?”
Breakthru Meetings Program, where the host (Advisor Circle) is facilitating 10,000+ one-to-one meetings on-site at the 2023 Future Proof Festival
That’s all for today.
Blake
Welcome to The Sandbox Daily, a daily curation of relevant research at the intersection of markets, economics, and lifestyle. We are committed to delivering high-quality and timely content to help investors make sense of capital markets.
Blake Millard is the Director of Investments at Sandbox Financial Partners, a Registered Investment Advisor. All opinions expressed here are solely his opinion and do not express or reflect the opinion of Sandbox Financial Partners. This Substack channel is for informational purposes only and should not be construed as investment advice. The information and opinions provided within should not be taken as specific advice on the merits of any investment decision by the reader. Investors should conduct their own due diligence regarding the prospects of any security discussed herein based on such investors’ own review of publicly available information. Clients of Sandbox Financial Partners may maintain positions in the markets, indexes, corporations, and/or securities discussed within The Sandbox Daily. Any projections, market outlooks, or estimates stated here are forward looking statements and are inherently unreliable; they are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.