• We learned: that a favorite comic, The Far Side, will be returning soon, after a 24 year(!) hiatus. Three generations of Lowrys have enjoyed the comics, as well as our other favorite Calvin & Hobbes.

• We think: September 1974 was a very consequential month. During Joe Sr’s remarks to the Builder’s Association of North Central Florida last week, he shared that during that month President Ford pardoned Richard Nixon, Hurricane FiFi killed 5,000 people in Honduras, and the Employee Retirement Income Security Act (ERISA) was signed into law. Another notable event from 45 years ago? Joe Sr. entered the financial services industry.

• We read: that household median income hit a new inflation-adjusted high for the 3^rd year in a row. Prior to 2016, the previous high had been set in 1999 (source: Federal Reserve Bank of St. Louis).

• We've been: opposed to any legislative or regulatory effort to ban share buybacks. The practice has become a political football, without any proof that they are harmful to investors. This new report demonstrates no link between share buybacks and reduced business investment.

• We recommend: Malcolm Gladwell’s new book, Talking to Strangers. We listened to the audio version. Not everyone likes Gladwell’s methodology, but each book teaches us a new way to think about important concepts. This book is worth listening to (or reading), and if you read it, we would love to hear your thoughts.