The New River Gorge National Park in West Virginia is the latest addition to America’s national parks, showcasing 70,000 acres of rugged terrain and stunning waterfalls. This park offers a variety of activities, such as hiking, rock climbing, mountain biking, and whitewater rafting along the New River. 

Visitors can also explore historic mining towns that tell the story of the Appalachian region. Notable features include a massive steel arch bridge spanning the New River, which is the longest of its kind in the Western Hemisphere. 

New River Gorge is particularly beautiful in the fall when the foliage turns vibrant colors. As one of the newest national parks, it joins a growing list of recently established parks that highlight America’s diverse natural beauty.

Finsum: Avoiding peak season when visiting new national parks can be a great way to cut through the tourist activity. 

Active exchange-traded funds (ETFs) have become a major focus in the investment world this year, drawing significant attention from top fund companies. With over $800 billion in assets and an influx of approximately $250 billion in 2024, their growth is undeniable. 

Unlike mutual funds, active ETFs often capitalize on tax-efficient structures, such as in-kind transactions, which allow them to manage gains without triggering taxable events. Recent data indicates that only a small fraction of active ETFs distribute capital gains, making them attractive for tax-conscious investors compared to mutual funds, which tend to have higher payouts. 

Notably, many new active ETFs and clone strategies, launched alongside mutual fund versions, have kept capital gains distributions minimal. 

Finsum: This is a good sign of the trend in the regulatory environment and could pave the way for more efficient portfolio solutions.

With the S&P 500 showing a 2.4% increase this year, the market presents a strong opportunity for value investors. These investors typically look for undervalued stocks with strong fundamentals, especially when overall market conditions cause high-quality companies' prices to dip. 

Value stocks are often well-established companies that offer long-term growth potential while being less volatile than growth stocks. Some of the best beginner-friendly value stocks to consider are Berkshire Hathaway, Procter & Gamble, and Target. 

Berkshire Hathaway has shown consistent growth under Warren Buffett’s leadership, making it a solid choice for long-term value investing. Procter & Gamble and Target offer recession-resistant stability, with P&G being a Dividend King and Target leveraging its unique business model to stay competitive and provide consistent returns.

Finsum: P/E ratios suggests that prices might be elevated and for those looking to navigate volatility then value might be the play. 

The resurgence of hobby culture has brought a renewed focus on self-enrichment and enjoyment. While hobbies have always been a way to spend free time, the pandemic prompted many to embrace activities that offered joy, purpose, and a break from daily monotony. 

1. Ballroom Dancing: Ballroom dancing offers a fun way to connect with a partner, improve fitness, and master an elegant skill that dazzles at social events.

1. Learning a Musical Instrument: Playing an instrument like the guitar unlocks creativity, provides a sense of accomplishment, and lets you make music anywhere.

1. Rock Climbing: Rock climbing challenges both the body and mind, offering an adventurous escape and a chance to conquer new heights, whether indoors or outdoors.

A well-rounded life can benefit from three types of hobbies: one for creativity, one for fitness, and one for potential financial gain.

Finsum: Finding an exercise based hobby can knock out two birds with one stone and lead to a much healthier lifestyle. 

Managing portfolios composed of individual stocks offers a tailored and strategic approach that appeals to certain wealth management and advisory firms. Unlike using funds or models, single-stock allocations allow for greater alignment with client preferences, enabling the inclusion of emotionally significant holdings without compromising diversification. 

These portfolios can be structured with 25-40 companies, providing exposure across sectors and industries while remaining adaptable to market trends and avoiding areas at risk of disruption. 

Tax management is another advantage, with techniques like pairing gains with losses, gradual position reductions, and leveraging donor-advised or exchange funds to address large embedded gains effectively. Direct indexing also adds value, helping maximize tax-loss harvesting while accommodating individual stock holdings

Finsum: We prefer direct indexing when considering a strategy such as this, because it can become too unwieldy as your client base grows.