Books offer a richer, deeper way to understand our ever-changing world. Instead of relying on quick searches, consider diving into the wisdom of experts through well-crafted nonfiction. Whether you're exploring complex topics like wealth inequality, algorithmic influence, or conservative culture wars, or seeking personal growth through memoirs about identity, grief, or marriage, this list of the best nonfiction books of 2024 (so far) has something for everyone. These three titles promise to expand your mind and offer new perspectives on the world around us: 

1. "Filterworld" by Kyle Chayka explores how algorithms shape our lives, urging a more intentional approach to consuming culture.
2. "Limitarianism" by Ingrid Robeyns argues for capping extreme wealth to combat societal issues, presenting a bold vision for economic reform.
3. "I Heard Her Call My Name" by Lucy Sante offers a deeply personal memoir on her gender transition at sixty-six, reflecting on identity and transformation.

Finsum: Digging deeper into filterworld might give a better framework as to how we can understand how we are manipulated by the technology we use. 

Amplify ETFs has launched the Amplify CWP Growth & Income ETF (QDVO), further expanding its suite of income-focused funds. QDVO aims to deliver high total returns by strategically investing at least 80% of its assets in growth-oriented U.S. equities, while also generating high monthly income through an opportunistic covered call writing strategy. 

This approach targets around 4-6% income from option premiums and up to 2% from dividends. QDVO is designed to complement Amplify's other successful ETFs, DIVO and IDVO, offering a diversified strategy for optimizing portfolios in various market conditions. 

The ETF seeks to provide investors with a balanced approach to growth and income, making it an attractive option for those looking to enhance their portfolios.

Finsum: Pairing income with an active ETF might make the most sense as we head into the final bout with inflation in the fall.

Rising interest in commodities like gold, oil, and grains, fueled by concerns over inflation and climate change, is impacting the design of fixed indexed annuities and registered index-linked annuities. This shift appeals to clients seeking hedges against inflation and additional asset diversification. 

While traditional indices like the S&P 500 dominate annuity allocation options, commodity indexes are emerging as viable alternatives, offering potential returns between 3% and 5.5% annually. Index exposure varies, with some annuities offering direct access to single commodities, like gold, while others provide diversified commodity index options. 

The inclusion of these indexes signals a broader trend toward more diversified and defensive investment strategies within annuity products, catering to clients' evolving needs in a changing economic landscape.

Finsum: These annuities could provide a natural way to get industry exposure and hedge against key issues like inflation.

Vice President Kamala Harris is positioning herself as a supporter of policies that foster the growth of emerging technologies, including the digital assets industry. Her campaign adviser emphasized her commitment to stable, transparent regulations that promote innovation while safeguarding consumers. 

This approach contrasts with former President Donald Trump's stance, which has garnered support from some in the cryptocurrency community due to his promises to reduce regulation. 

Harris aims to balance innovation with responsible oversight, addressing concerns about economic stability and corporate responsibility. Additionally, she has made multiple statements around cutting red tape and bureaucracy for innovation. 

Finsum: The path to higher bitcoin prices might be stable regulation in the long run.

Transitioning to a new custodian in the financial industry can seem challenging, especially with the complex regulatory environment. However, with thoughtful preparation and the right choice of custodian, the process can be seamless and beneficial. 

This involves understanding the differences between bank custodians and broker-dealers, with banks often providing greater transparency, asset safety, and flexibility. Key steps include reviewing existing contracts, gathering necessary documents, and clearly communicating your organization’s needs to the new custodian.

Engaging a dedicated conversion team ensures a smooth transition by managing timelines, addressing concerns promptly, and customizing the process to your specific requirements. With these measures in place, you can successfully navigate the transition, allowing your organization to thrive with the support of a custodian that aligns with your long-term goals.

Finsum: These tips provide a nice framework for transitioning and considering wither you are ready, but keep in mind the technology accommodations as well.

Interval funds offer investors a way to diversify their portfolios with assets like real estate, private equity, and debt instruments, but they come with unique features. Unlike mutual funds, interval funds allow for liquidity only at specific intervals, such as quarterly or annually, rather than daily. 

This limited liquidity provides fund managers with greater flexibility in choosing investments. Despite their higher fees and limited redemption opportunities, interval funds are growing in popularity, especially among those nearing retirement, due to their potential for steady returns from less liquid assets.

Investors should be aware of the fund's redemption process, minimum investment requirements, and the varying performance of these funds. Firms like KKR and Capital Group plan to launch interval funds.

Finsum: Liquidity concerns are real, but relaxing this constraint lets opportunities blossom. 

Asian currencies experienced a significant rally, reaching their highest levels in seven months. This surge was driven by diminishing concerns about a U.S. recession, expectations of Federal Reserve rate cuts in the near future, and a more favorable economic outlook within the region. 

The Bloomberg Asia Dollar Index increased by 0.6%, with notable gains from the South Korean won, Malaysian ringgit, and Thai baht. These currency gains were supported by stronger-than-expected economic data and political developments in key Asian markets. Additionally, regional equities also rose, reflecting growing investor confidence in Asia’s economic prospects.

The South Korean won and the Philippine peso were among the top performers, with the won reaching its highest level since March and the peso marking its biggest gain since November. Meanwhile, the Japanese yen also appreciated, with traders closely monitoring potential hints from the Bank of Japan's governor on the future direction of the country's monetary policy.

Finsum: The demand driving these currency shifts could really come into full swing if the Fed successfully dodges a recession.

Investors are increasingly turning their attention to small-cap stocks and ETFs due to a combination of favorable valuations, historical trends, and recent market dynamics. This renewed interest has been highlighted by a significant rally in small-cap stocks, particularly during July when the Russell 2000 recaptured much of its earlier underperformance relative to large-cap indices. 

Analysts suggest that small-caps are still undervalued, with some estimates indicating a 20% to 30% discount compared to larger stocks. This presents a potential opportunity for prolonged outperformance in the small-cap sector. Notable options include the iShares Russell 2000 ETF (IWM), which tracks a broad index of small-cap companies, and the Vanguard Small-Cap Value ETF (VBR), which focuses on value-oriented small-cap stocks.

 Each of these ETFs provides investors with a strategic entry into the small-cap market, with varying levels of risk and potential return depending on their investment goals.

Finsum: Also note that as interest rates come down small caps are historically in a position to take advantage because they are more levered. 

Direct lending, once a niche market for companies with lower credit ratings, has expanded into a powerful alternative for both middle-market and large-cap firms, managing nearly $1.7 trillion by mid-2023. 

This growth has been fueled by private credit’s ability to offer flexible, borrower-friendly terms, even in billion-dollar deals traditionally dominated by banks. Banks, recognizing this trend, are now entering the direct lending space themselves, fostering competition that benefits borrowers with better pricing and more tailored financing solutions.

 As direct lending continues to grow, it's poised to play an increasingly vital role in funding mergers, acquisitions, and other corporate transactions, especially as the market prepares for potential interest rate changes later in 2024.

Finsum: It’s worth monitoring banks direct involvement in direct lending, because this could change the evolution of the industry. 

Golub Capital is increasingly active in trading private credit deals, reflecting a broader trend in the industry as interest in secondary markets for direct loans grows. The firm traded approximately $1 billion in private debt during the first half of the year, positioning itself as a key player alongside others like JPMorgan Chase. 

While secondary trading in the $1.7 trillion private credit market remains relatively uncommon, there's growing demand for liquidity and flexibility among investors. However, some industry participants argue that trading could undermine the appeal of direct lending, which traditionally offers privacy and stability. 

Despite this, Golub and other firms are exploring these markets, balancing the benefits of liquidity with the traditional advantages of private credit.

Finsum: For investors not concerned with liquidity, private credit could prove a strong investment in this fall cycle.