The stock market is near an all-time high, while unemployment is up and wages are flat. It begs the question: is the stock market overvalued? I’m not a stock market expert, I don’t follow the market like some people, but I do know a few things. A share of stock is a piece of a company. In that regard, it is not that different than owning real estate. When you buy an investment property, you don’t look at the value of that property every day, you are more interested in the rent it earns and the costs associated with maintaining the property. The same should be the case with stocks. You shouldn’t look at the price fluctuations of the stock for a company, rather you should look at the earnings and earning potential of the company itself. If you are a day trader who is looking for short-term opportunities, we may be looking at a correction pretty soon. Economic growth has been anemic, even prior to the pandemic, and without major changes to our immigration policies or major breakthroughs in productivity it will be hard to see how valuations will get better in the short run. If you’re a long-term player a good index fund or the right financial advisor, you can still find you some great opportunities. BTW – the winner of the election won’t matter all that much. In his first 43 months in office, the S&P 500 index under Donald Trump increased 49%. That’s a pretty good gain; however, under Obama, the S&P increased by 70% in his first 43 months. Fiscal policy matters for a lot of things, but stock prices don’t seem to have as much of a correlation to politics as most people think.
A friend recently told me, “If demographics were all that mattered, we would have already won.” Latinos are driving homeownership growth and contributing enormously to the American economy. Yet we are still asking for a seat at the table. I believe the reason comes down to wealth: how much we control and what it allows us to do. In Episode 97 of The Latino Brand, I explain why wealth belongs at the center of our agenda. It gives us the resources to fund the businesses, institutions and political campaigns that shape our future. I hope you’ll watch.
I’ve always believed sports are one of the most powerful stages in American culture. The people we celebrate—and the people who own the teams and institutions behind them—help shape how the country sees leadership, success, and possibility. In Episode 96, I share why José E. Feliciano and Kwanza Jones’ purchase of the San Diego Padres feels bigger than baseball, and why this moment could mark a tipping point for Black and Latino visibility, wealth, and power.
There is no shortage of data showing the impact Latinos are having on the U.S. economy, from GDP and entrepreneurship to workforce participation and homeownership. So why hasn’t that growth translated into the kind of economic and political power our numbers suggest it should? In this episode, I focus on two things we can actually control: building wealth and owning our narrative. Cultural influence matters, but ownership is what turns influence into lasting power. And if we want the next generation to inherit more than momentum, we need a strategy for converting our work ethic, growth, and economic contributions into the institutions and assets that shape this country.