The Independent Market Observer

Brad McMillan, CFA®, CFP®

Brad McMillan, CFA®, CFP®, is managing principal, wealth management, and chief investment officer at Commonwealth. As CIO, Brad chairs the investment committee and is a 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, the CFA Institute, and the CAIA Association. He also is a CERTIFIED FINANCIAL PLANNER™ practitioner. 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

Tesla Crashes, Faulty Airbags, and How We Perceive Risk

July 7, 2016

One story I’ve been following is the recent fatal crash of a Tesla Model S. The car, which was set to autopilot, apparently collided into the side of a truck while the Tesla driver was watching a movie, killing him. Since then, there have been several other Tesla crashes that may have involved the autopilot function failing while the drivers weren’t paying attention.

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Record-Low Interest Rates: Not Necessarily a Bad Thing

July 6, 2016

“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.” — Woody Allen

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Appearance on CNBC’s Squawk Box, July 5, 2016 [Video]

July 5, 2016

After a disappointing six-month period, are things turning around? Two huge headwinds—dollar strength and the collapse in oil—seem to be abating, a positive sign. I discussed these developments and other economic expectations on CNBC’s Squawk Box this morning. 

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Monday Update: Positive Surprises Across the Board

July 5, 2016

Last week’s economic news offered several positive surprises. Consumer confidence improved and incomes also rose, indicating that Americans are both more willing and more able to spend. Manufacturing, the weakest part of the economy for some time, moved back to material growth levels, raising the hope that the sector is finally reviving.

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Brexit and the Fourth of July

July 1, 2016

Okay, unless something else happens, I promise this will be it for the Brexit posts. I’m probably as sick as you are of the “all Brexit, all the time” coverage, and I’ve been guilty of that here on the blog as well. That said, I do think there’s one final point worth making about Brexit.

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Market Thoughts for July 2016 [Video]

July 1, 2016

June was busy, particularly near month-end. The news that Britain had voted to leave the European Union came as a shock and sent markets tumbling. But then a funny thing happened: the fear dissipated, and as investors started looking at the fundamentals, the markets began to recover. 

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3 Lessons from Brexit

June 30, 2016

With all the initial panic over the Brexit vote—and the subsequent relief as markets recovered—it’s been easy to lose sight of the bigger-picture lessons. Here are three that we should keep in mind.

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The Case for Brexit

June 29, 2016

Pretty much all of the coverage of the Brexit vote has been negative, and deservedly so. Even the positive spins have largely focused on how to either reverse the vote or minimize the damage.

When there's this much consensus on something, it’s usually time to take a close look at the other side. So let’s see if we can make a strong case that Brexit is a good thing.

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Appearance on Bloomberg TV, June 28, 2016 [Video]

June 29, 2016

Will the Brexit vote lead to another 2008, as many advisors and investors are wondering, or have we already weathered much of the storm, at least here in the U.S.? I talked about the economic fallout yesterday on Bloomberg TV’s Bloomberg Markets with program anchors David Gura, Vonnie Quinn, and Matt Miller. 

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Will Brexit Crash the Stock Market?

June 28, 2016

After a difficult two days, there’s a serious question on many investors’ minds: Is this the big one, the next crash? It's a reasonable concern. After all, haven’t we been hearing about all the damage Brexit could do? And haven’t we sort of been down this road before, with the Greek crisis in 2011?

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Certain sections of this commentary contain forward-looking statements that are based on our reasonable expectations, estimates, projections, and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Past performance is not indicative of future results. Diversification does not assure a profit or protect against loss in declining markets.

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