Kersten Wealth Management Group - Money Sense 11-29-25

·50 min·4 clips

Kevin cites LPL data showing the S&P 500's average 14.1% drawdown makes this year's 18.9% decline typical.

The episode begins with Kevin and Dennis Kirsten discussing market seasonality, highlighting November's historical volatility and a recent rally. They note the S&P 500 is up over 16% year-to-date, with healthcare emerging as a top performer, up 17% in three months, while tech lags. The hosts connect interest rates, hovering around 4% on the 10-year Treasury, to small cap performance and Fed rate cut expectations, now priced at 90% probability. They reference LPL Research data on historical market drawdowns, showing this year's 18.9% drop is not unusual compared to the average 14.1% since 1980. The conversation shifts to earnings, with S&P 500 earnings per share growth tracking over 13% this quarter, led by tech, financials, and utilities. Kevin and Dennis then delve into the One Big Beautiful Bill Act, explaining permanent extensions of Trump tax cuts, new deductions like a $12,000 write-off for married couples over 65, and temporary items such as no tax on tips. They discuss strategies to reduce taxable income, like switching to tax-free municipal bonds, and business incentives including accelerated depreciation. The hosts address economic stimuli from tax refunds and rate cuts, while expressing concerns about midterm election volatility and political issues like tariffs and immigration. The episode concludes with a critique of political double standards, illustrated by a story about a congresswoman mishandling a $5 million COVID stimulus error.

As heard by us

A timely November market update on seasonality, earnings, and sector rotation.

Kevin Kirsten and Dennis Kirsten frame this late-November market discussion around seasonality, a recent rally, and the rotation in sector leadership.

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Why you'd press play

A year-end market check with November seasonality, earnings, and sector shifts.

Read the full recommendation in PlayNext →

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