“Do not go where the path may lead, go instead where there is no path and leave a trail.”



If you are young and want to make financial progress out of college, consider starting your career in a metro area where housing and living expenses are relatively low. Some of the most “exciting” cities to live and work in are also some of the priciest, with their millennial and Gen Y residents deeply in debt.


There are two friends: one always goes to sleep as the other wakes up, and vice versa. They never see one another. What are they?

Last week’s riddle:

It walks on four legs in the morning, two legs at noon, and three legs in the evening. What is it?

Last week’s answer: 

A human. A baby crawls on all fours, then walks on two legs as an adult, and uses two legs and a cane when old.



In this week’s recap: the Federal Reserve stands pat on interest rates, key indicators show strength, and stocks end the week little changed.


Stocks were up and down last week, and the three major benchmarks ended up little changed after five trading days. The S&P 500 rose 0.20% for the week; the Nasdaq Composite, 0.22%. The Dow Jones Industrial Average declined 0.14%.

The MSCI EAFE index, a benchmark for international stocks, declined 0.21%.1-2

The Fed Emphasizes Patience

The Federal Reserve held interest rates steady at its May meeting. Its May 1 policy statement noted “solid” job growth and economic activity, but only tame inflation pressure.

While the Fed was not expected to make a move, some investors wondered if its latest policy statement might hint at the possibility of a rate cut later this year. No such hint appeared. Fed chair Jerome Powell told the media Wednesday that “we don’t see a strong reason for moving in one direction or the other.”3

Indications of a Thriving Economy

Employers added 263,000 net new jobs in April. Economists polled by Bloomberg forecast a gain of 190,000. The jobless rate fell to 3.6% last month, the lowest in half a century.

This better-than-expected employment snapshot comes on the heels of a first-quarter GDP reading that surprised to the upside. In another bit of good news, personal spending rose an impressive 0.9% in March.4-5

Final Thought

On Wednesday and Thursday, stocks fell in the wake of the Fed policy statement. Friday, they more or less recouped their losses after the impressive April jobs report. Ups and downs like these come with the territory when you invest; the key is to stay patient and think long term instead of short term.

Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Cambridge and Connecticut Capital Management Group LLC are not affiliated. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor.


1 – markets.wsj.com/usoverview [5/3/19] 

2 – quotes.wsj.com/index/XX/990300/historical-prices [5/3/19]

3 – bankrate.com/banking/federal-reserve/fomc-meeting-recap-april-may-2019 [5/1/19]

4 – nytimes.com/2019/05/03/business/economy/jobs-report-april.html [5/3/19]

5 – marketwatch.com/tools/calendars/economic [5/3/19]


markets.wsj.com/usoverview [5/3/19]


quotes.wsj.com/index/SPX/historical-prices [5/3/19]






treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yieldAll [5/3/19]


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