My grade-school-age kids recently returned to school, which made me think about being a little kid again. Summer was always a time of unbridled joy and freedom for me. Even as a kid, I knew summer meant I had the freedom to get on my bike and ride to the nearby pool or meet up with my neighborhood friends for a game of street hockey because my schedule and routine were flexible. My biggest concern was whether or not I got a hit in my baseball game!

As we get older, those feelings start to change. We take on more responsibilities – summer jobs, summer school, and ultimately adulthood. Life speeds up quickly, and we don’t always do a good job of slowing down and living in the moment. We’re constantly thinking about what’s next and what we must do to keep everything moving forward. As Harry Chapin famously sang in Cat’s in the Cradle, “There are planes to catch and bills to pay.”

On a recent family vacation to Florida, I read a book by the former Duke basketball coach Mike Krzyzewski, Leading with the Heart. Coach K uses the metaphor of his team being on a train. He reminds readers that stopping and enjoying the moments while on the train is essential. Some of those moments are big milestones we plan and prepare for, while others happen unexpectedly.

So, as summer ends and we return to our busy lives of hauling kids to their various events, traveling, and everything else we have going on, I encourage each of you to take a moment to “pause at the station.” Whether things are improving or worse than anticipated, try to enjoy the moment. Enjoy the moment.

P.S. For those looking for some light humor, I recently created unique handshakes with each of my three boys (my daughter is a bit too young to have her own). Below is a video of my youngest son, Charlie, and me doing a clumsy version of our handshake on his first day of Kindergarten – certainly a major milestone in both of our lives! 

*Apologies to long time client George Thomas for making a positive Duke reference. I hope you’ll forgive me.

**This is the same book featured prominently in the hit show The Bear (season 2).

It feels like every conversation lately revolves around the latest discovery in AI and how it’s improving x,y, and z. But how does AI impact our industry as Financial Advisors?

David Booth, Chairperson of Dimensional Funds Advisors, recently wrote an opinion piece on AI and the market for the Financial Times. He states, “Can artificial intelligence help pick stocks? More specifically, can investors use AI to determine the fair price of a stock or a bond? I bet a lot of people right now would say yes, given recent advances that allow for the processing of ever greater amounts of information.

I think my AI is better than all the other ones out there. My AI is the market.”

Read his full take on AI here.

Bernard Madoff committed the largest financial scam in history. This, you know. You may not know the stunning details of how he did it and managed to get away with it for so many years. That’s why we recommend watching the new four-part docuseries on Netflix. It includes interviews with victims, investigators, and scenes from Madoff’s depositions.

Fifteen years since his 65 billion dollar Ponzi scheme unraveled, there have been several depictions of Madoff, but “Madoff: The Monster of Wall Street” offers new insights worthy of your time.