Brad McMillan, CFA, CAIA, MAI

Brad McMillan, CFA®, CAIA, MAI, is chief investment officer at Commonwealth Financial Network®, member FINRA/SIPC, the nation's largest privately held Registered Investment Adviser–independent broker/dealer. As CIO, Brad chairs the investment committee and is the primary spokesperson for Commonwealth’s investment divisions. Brad received his BA from Dartmouth College, an MS from MIT, and an MS from Boston College. He has worked as a real estate developer, consultant, and lender; as an investment analyst, manager, and consultant; and as a start-up executive. His professional qualifications include designated membership in the Appraisal Institute (MAI), the CFA Institute, and the CAIA Association. Brad speaks around the country on investment issues and writes for industry publications, as well as for this blog.
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Recent Posts

Facebook Libra: Threat or Menace?

June 27, 2019

“More than any other time in history, mankind faces a crossroads. One path leads to despair and utter hopelessness. The other, to total extinction. Let us pray we have the wisdom to choose correctly.”

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Consumer Confidence Down: A Bad Sign

June 26, 2019

As I kind of expected, some news did hit yesterday while my son and I were fishing that is definitely worth a closer look. The Conference Board’s survey of consumer confidence—one of the most underappreciated economic stats there is—dropped from 131.3 in May to 121.5 for June. This result is the lowest level since September 2017.

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Enjoying a Quiet Day at the Beginning of Summer

June 25, 2019

I spent this morning the way I usually do, reading the newspapers, looking at the economic reports, and scanning the futures markets. Also as usual, I found things to worry about: Consumer confidence, still high by historical standards, dropped more than expected in June, falling to its lowest level in almost two years. New home sales also missed expectations, declining for the second month in a row instead of climbing. The markets are down a bit as I write this . . . So far, so normal.

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Market Melt-Up? Maybe So

June 21, 2019

So much for sell in May and go away. The S&P 500 has hit another all-time high and is on track for the best June in more than 60 years (since 1955). New public offerings have exploded, with Beyond Meat and Slack the most recent wunderkinder. Companies are racing to go to the market. They know that with valuations at all-time highs and the risks rising, now is the time to sell at the best price they will likely get.

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The Fed to the Rescue?

June 20, 2019

The market has concluded that the Fed’s decision to keep rates steady, along with the accompanying statement from yesterday's meeting, is unreservedly dovish. The expectation is for two more rate cuts this year, starting in July. Markets are, unsurprisingly, cheering. Lower rates are good for economic growth and for stocks. In fact, that reasoning would explain why the Fed would cut. If the Fed does cut, it will be stimulative and should help sustain the expansion—as intended.

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Appearance on Yahoo Finance’s The Ticker, June 19, 2019 [Video]

June 19, 2019

This afternoon, I appeared live in studio on Yahoo Finance’s The Ticker to discuss today's Fed decision to leave interest rates unchanged. Listen in to learn more.

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Will the Fed Sit Tight on Interest Rates?

June 19, 2019

Today’s post will be a brief one as I am on the road. Besides, we don’t yet know how the main event of the day—the Fed meeting—will turn out. Will the Fed cut rates? Drop a strong hint that a rate cut is coming? Or just sit tight? And what will the White House do?

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Upcoming Appearances

Tune into Yahoo Finance's YFi AM on Tuesday, July 2, at 10:00 A.M. ET to hear Brad talk about the market. Stream live on

Tune into Fox Business' Countdown to the Closing Bell on Friday, July 12, at 3:45 P.M. ET to hear Brad talk about the market. Check your local listings for availability.

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