In this episode, we take a look back at the first half of 2024 and examine some surprising trends in the economy and markets. We discuss how inflation has remained stickier than many expected, but wage growth has actually outpaced inflation for many workers. We analyze the extreme concentration of returns in the stock market, with a small number of large tech companies driving most of the gains while many stocks have declined. We also explore some unexpected developments in housing, bonds, and factor investing performance. Overall, we aim to provide context on what's really happening beneath the surface of headline numbers, challenge some common narratives, and remind listeners of the importance of long-term thinking when it comes to investing and financial planning.

Introduction - 00:00:00
Episode Overview and 2024 Economic Reflection - 00:00:33
Inflation Trends and Insights - 00:06:28
Wage Growth vs. Inflation - 00:10:51
Small Cap Value Returns Analysis - 00:14:01
Recession Predictions and Economic Stability - 00:18:46
Federal Reserve Actions and Implications - 00:27:29
Housing Market Dynamics - 00:34:11
Stock Market Performance and Investor Sentiment - 00:41:58
Market Concentration and Tech Giants - 00:47:23
Stock and Bond Correlation Trends - 00:51:19
Factor Performance and Investment Strategies - 01:01:19
Closing Remarks - 01:02:08

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