Phil, Mike, and Larry look back at market in 2025 and talk about what their biggest surprise was this past year. They also discuss what was the biggest lesson they learned about markets this year. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss Focused Wealth Management’s best market calls of 2025. They then talk about how third-quarter gross domestic product grew so much higher than Wall Street expected. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss the Federal Reserve cutting interest rates last week and should we expect more rate cuts before Jerome Powell steps down as Fed Chair. They then talk about how Oracle’s earnings report last week sparked the current sell-off in tech stocks and if this AI sell-off will continue. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss why private equity firms are extracting cash from their portfolio companies by relying on alternative methods and what negative implications this will have on the market and economy. They then talk about the possibility of Kevin Hassett, the director of the National Economic Council, becoming the new chairman of the Federal Reserve when Jerome Powell leaves. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, p...

Phil, Mike, and Larry discuss why Japanese government bonds tumbled yesterday, pushing the two-year yield to more than 1%, its highest level since 2008. They then talk about why silver prices have doubled since the start of the year, outpacing gold and surging to a record high on Monday. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss all the negative reports coming out, such as consumer sentiment hitting its lowest point in 16 years, and why it feels like we’re in a recession when GDP is expected to grow this year. They then talk about why the market fell after Nvidia posted great earnings and gave forecasts higher than Wall Street expected. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly a...

Phil, Mike, and Larry discuss whether artificial intelligence is driving the surge in U.S. GDP growth. They then talk about how the Nasdaq has dropped 6% and the S&P 500 is down about 4%, and whether we are heading into a correction or just letting some air out of the AI bubble. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss the 175% surge in layoffs in October, the biggest one-month reduction in 20 years, and what it means for the economy. They then talk about how a K-shaped stock market coinciding with a K-shaped economy is affecting economic growth. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss what it means that the Federal Reserve is ending quantitative tightening, why it’s doing it, and why QT won’t add to inflation. They then talk about news articles declaring the 60% stock/40% bond portfolio to be dead. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss why gold posted its largest one-day drop in more than a decade. They then talk about the latest inflation numbers which climbed to more than 3% and whether this will hurt the prospect of more interest rate cuts this year. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss why Phil and Mike are wearing ties and what FEMU is, the firm, economic and market update. They then talk about why regional banks fell on Thursday, bank fraud, what are non-depository financial institutions, or NDFIs, and will we see something similar to the bank crisis in 2023. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss the bankruptcy of auto supplier First Brands, which owes $10 billion to some of Wall Street’s biggest names, the risks and lack of transparency in its deals, and if this will affect the financial markets. They then talk about why the market took a dive on Friday and if this downward trend will continue. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 6...

Phil, Mike, and Larry discuss why the market is rallying after the government shut down started. They then talk about how gold and stocks are not usually correlated, and what it means that they are both rallying together. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss the new $100,000 fee to apply for H-1B visas, which are required in many industries to allow foreigners to fill temporary jobs, especially in technology, and how this will affect the tech sector. They then talk about how the market will react if we have a government shutdown combined with mass governmental firings. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directl...

Phil, Mike, and Larry talk about how the One Big Beautiful Bill Act will change the way practitioners use estate-planning strategies. They then discuss the stock market hitting all-time highs, September being the worst performing month, on average, going back nearly a century, and whether Focused Wealth Management is hedging client portfolios. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly...

Phil, Mike, and Larry talk about the latest jobless report, which came in higher than expected, and how this will affect the Federal Reserve’s decision on rate cuts at this week’s meeting. They then discuss the rally in gold, pushing the precious metal to all-time high,s and what this means for the economy Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry talk about how big of an interest rate cut the market expects from the Federal Reserve at its next meeting. They then discuss what to do about your fixed income portfolio before the Fed cuts rates. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry talk about Friday’s ruling by the U.S. Court of Appeals for the Federal Circuit that President Trump overstepped his presidential authority when he imposed levies on virtually every country in the world and what happens now in the market and economy. They then talk about Federal Reserve Board Governor Lisa Cook who sued to challenge her removal by President Trump, whether she’ll be able to vote on interest rates at the September meeting, and how will this affect the inde...

Phil, Mike, and Larry talk about Friday’s rally in the stock market which saw the Dow Jones Industrial average soar 1.9% and the S&P 500 surge 1.5%. They then discuss the falling dollar and how this can help investor portfolios. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry talk about how 91% of fund managers think U.S. stocks are too expensive, the highest number since 2001. They then discuss defensive and bearish signals in the market and what the firm is doing to hedge investors’ portfolios. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.