One key way to build serious wealth, whether in a business or your everyday life, is to effectively and consistently negotiate deals that are good for you and your bottom line. Ideally, everyone walks away from a negotiation feeling good about the outcome, a win-win scenario. But ultimately, to be successful you must achieve your minimum goals and preferably a whole lot more.
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Markets were up on Friday, but domestic stocks lost ground for the week as political turmoil and potential trade wars weighed on investors' minds. The S&P 500 dropped 1.24%, the Dow gave back 1.54%, and the NASDAQ decreased 1.04%. International stocks in the MSCI EAFE barely avoided losses with a 0.13% gain.
Domestic stocks leapt ahead last week as the latest jobs report inspired renewed confidence in our economic standing. The S&P 500 added 3.54%, and the Dow gained 3.25%. The NASDAQ erased its losses from February's mrket correction to hit a new record close while growing 4.17% for the week. International stocks in the MSCI EAFE increased by 1.79%.
Last week, the President's Day holiday meant markets were only open for four trading days, and during that time, we received comparatively few economic reports. Nonetheless, major domestic indexes showed considerable volatility and posted losses for three straight days. By Friday, however, stocks rebounded and ended the week in positive territory.
After months of relative calm, market fluctuations are causing many investors to wonder what is happening to the economy. Last week, the S&P 500 lost 5.16%, the Dow dropped 5.21%, and the NASDAQ declined 5.06%. The MSCI EAFE also gave back 6.19%. These losses pushed all four indexes into negative territory for the year.
The Super Rich (those with a net worth of $500 Million or more) who have family offices typically engage a sizable lineup of professional advisors to help them create and implement financial plans. To help ensure those plans are both state-of-the-art as well as in line with their needs and wants, many of them regularly "stress test" these plans.