In the tapestry of life, challenges are the chisels that sculpt your character. Embrace setbacks as stepping stones to success and any doubts as opportunities for determination. Your journey isn’t effortless, but your passion, ambition, and courage are your tools. Believe, persist, and soar – you are the author of your story.

August straddles Summer’s end and Fall’s beginning, offering a mix of sun-soaked nostalgia and hints of change.

Are you looking forward to Fall?

See you soon,

Joujou

Market Watch

• The rich are getting richer…..in California! From the end of 2019 through 2021, California added more than 116,000 millionaire taxpayers, a record for a 2-year period,more than in the previous decade combined. Residents making more than $50 million surged 158% to 3,182…..and California’s billionaires added $270 billion in wealth. (Bloomberg)

• Since January 2021, companies have announced about $500 billion in private investment in industrial projects in the US. Billions of dollars in promised federal subsidies are driving a push to bring home, or reshore, production of EVs, solar cells, batteries and semiconductors—along with well-paying middle-class jobs—in the name of competing with China. (Bloomberg)

• Observing Warren Buffet’s moves is always prudent: in the second quarter he sold off video game stocks and pursued….home builders! I guess you cannot live in a video game? (CNBC)

• While Babyboomers account for a large swath of wealth – and homeownership – they may also be the source of the largest home inventory over the next decade or so: there were 32 million US baby boomer homeowners in 2019, and the cohort is becoming a larger source of existing homes for sale – around 4.4 million units annually over the next decade — as they move into retirement homes or die. While about 10,000 baby boomers are turning 65 every day around 5,000 baby boomers die every day too….

• In Houston Texas, the percentage of workers returned to the office is about 32% higher than the national average.

• The average American worker spends around 28 minutes commuting each way…..that’s almost 1 hour per day! Imagine cutting that in half…..28 more minutes per day to be with kids, sleep, exercise, etc….imagine the cost benefits to societies at large in healthcare, child care, transportation, pollution, energy use, etc…..

• If you think virtual healthcare does not save time, know the average doctor visit takes around 2 hours while a remote visit takes around 15 minutes on average.