Celebrating 250 Years: A Q2 Letter from Chris

To the Clients of Resilient Asset Management:

Greetings from - wait for it - Portland, Maine. No Stephen King sighting of which I am aware; however, a beautiful state for sure...more on that in a minute.

The second quarter was quite a rewarding one for capital markets, particularly in the AI sector after a wobbly first quarter. Of course, no single quarter or year means very much over the long-term, though a casual mention is appropriate given how much of an outlier the overall market performance was. Some reading this probably know the exact return numbers better than I do.

But today is not for reminiscing about investments. Rather, and more importantly, we are celebrating our Nation's 250th birthday. And what a cause for celebration it is indeed. When explorers happened upon what is now the United States, it was impossible for them to know what it would become. From what was largely an agrarian and otherwise unsettled land our United States has become - to put it simply and bluntly - the greatest country on earth.

Throughout my military career, I lived outside CONUS (that is, the Continental United States) for over 10 years, including Japan, Australia, and Guam. And I coupled that with port visits into many other places and have also done my own travel abroad. While each location has its own uniqueness, in aggregate, none of them compare to the United States, period.

So what makes the United States so great? Well, it's very simple: our ingenious forefathers designed a system that unleashed human potential in a major way. Here, anyone can be anything they want to be. This architecture leads to truly profound, world-changing results....who would have dreamed of reusable rockets and artificial intelligence when plowing fields back in the 1700s? And on the larger scale, the United States is the world leader in almost all relevant endeavors. This position is not guaranteed in the future, though I am comfortable saying that the United States will remain the fulcrum of the world for many decades to come. My confidence comes from the United States' unique ability to pivot and rapidly innovate...that is a trait not shared by many other countries. Trust me, the United States' best days are in front of us.

To be fair, our country is not without its challenges. And over the past decade or so with the advent of social media, some issues have indeed become more visible. While some would see these challenges as the United States trending toward the edge, I welcome the discourse. Keep in mind Evelyn Beatrice Hall's famous line, "I disapprove of what you say, but I will defend to the death your right to say it." And I know that at the end of the day, even the most ardent opponents have more in common than they realize.

Which brings me back to Maine - it is indeed a beautiful place. Before coming here, I was all the way across the country in California...my ancestors could not imagine that kind of mobility. On my travels, I experienced the uniqueness of America up close....California beaches are very different from Maine beaches, Maine lobster is a different dining experience than fish tacos in Newport Beach, and a baseball game at Fenway Park with your son singing "Sweet Caroline" is unique unto itself. The common thread is that we are all Americans. For me, it was way beyond Powerball odds that I was even born, let alone in the United States. And for that, I am ever grateful as I have the privilege of being a citizen of the greatest country our world has ever known.

While this letter is admittedly light on financial planning, as always, if you have financial matters you would like to discuss, please contact me directly so we can schedule a time to talk.

I hope you all enjoy the 4th of July Holiday with friends and family.

Thank you all for continuing to trust Resilient Asset Management with your financial future.

All the best,

Christopher Flis, CFP®
President
Resilient Asset Management

Contact

502 S Main Street, Memphis, TN 38103

chris@resilientam.com

(901) 318-3423

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