November 21, 2025

WEEKLY TOUCHPOINT

What’s Really Powering Stocks in 2025?

When you peel back the layers of the S&P 500’s performance this year, the story gets a lot more interesting than a single return number.

Equities — Return Drivers (YTD +12.26%)

• Earnings growth continues to do the heavy lifting, reminding us that real profits—not just optimism—are showing up in the data.
• P/E multiples have played their part too, nudging returns higher as investors show a little extra willingness to pay for future growth.
• Dividends, as always, quietly add their steady, dependable boost in the background.
• When you stack these pieces together, you start to see the true “engine” behind 2025’s gains—not hype, but a blend of fundamentals and fair-minded valuation.

Why It Matters for Investors

• Breaking down returns this way helps us understand whether the market is rising on solid ground or just floating on sentiment.
• In 2025, the balance leans toward fundamentals—always a welcome sight.
• For long-term investors, this kind of analysis helps keep expectations anchored and emotions steady.
• It’s another reminder that disciplined investing picks up the quiet signals the headlines tend to miss.

 

Nvidia Bats a Quarterly Earnings Home Run

White House Touts $270 Billion Worth of Deals at Saudi-palooza

BLS says full October jobs data won’t be released

Why Portfolio Reviews Matter—Especially Now

In calm markets or choppy waters, taking time to review an investment portfolio is one of the most meaningful ways we help clients stay aligned with what truly matters. Whether someone is brand-new to investing or has decades of experience, a thoughtful portfolio review brings clarity, confidence, and direction—especially when markets feel uncertain.

It’s also an invaluable tool when prospective clients come in looking for a second opinion. A clear, structured review lets them see exactly where they stand and where the gaps or opportunities may lie.

Here’s the heart of what we walk through during a Wealth Mechanics™ portfolio check-in:

• Investment Objectives: Re-grounding each portfolio in the client’s purpose—what the money needs to do and when it needs to do it.
• Time Horizon & Risk Tolerance: Matching the engine to the road ahead by ensuring the level of risk fits the timeline and temperament.
• Diversification & Allocation: Looking under the hood to make sure assets are spread across the right gears, not concentrated in ways that create unnecessary drag.
• Tax Awareness: Evaluating capital gains, loss-harvesting opportunities, and exposure to the Net Investment Income Tax so clients keep more of what they earn.
• Performance Monitoring: Checking that the portfolio is doing its job—and adjusting where needed—without falling prey to short-term noise.

A good portfolio review isn’t about predicting the future; it’s about engineering a structure that can weather it.

 

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SOURCE: fpPathfinder

Pressing Pause to Count What Matters

Every week, we walk you through markets, interest rates, Fed talk, and whatever economic storyline is stealing the spotlight. But today, we’re giving you a break. This week isn’t about equities, bonds, or macro trends. It’s about gratitude—the quiet, overlooked return that compounds faster than anything on a statement.

As we head into the holiday stretch, lets focus on something far more durable than a weekly index move: the practice of counting our blessings. Because gratitude, when we build it into our routine, works a lot like a well-designed financial plan—it brings clarity, reduces stress, and keeps us grounded when life gets noisy.

Here’s a few examples of how a practice of gratitude compounds:

• Reframes our perspective — helping us focus less on what’s uncertain and more on what’s abundant.
• Lowers emotional volatility — the psychological version of stabilizing a portfolio.
• Improves decision-making — grateful minds tend to react less and think more.
• Strengthens relationships — because appreciation compounds faster when shared.
• Creates momentum — small daily acknowledgments build a surprisingly strong foundation.

So this week, instead focusing on fancy financial talk, we invite you to take inventory of the wins—big or small. A moment of peace. A good meal. A laugh with someone who matters. Progress on a goal. Even the challenges that pushed you to grow.

Markets will move. They always do. But gratitude helps you move through the world with more comfort, clarity, and purpose.

 

We’re thankful for you—your trust, your partnership, and the opportunity to help steward your financial life. It’s a responsibility we never take lightly. Next week, we’ll return to our regularly scheduled programming. But for now, savor the good around you. And know we’re grateful to be in your corner.

 

The Cestia Wealth Team

 

(as of Monday’s Market Opening)

	Total Return (1D)	Total Return (1W)	Total Return (MTD)	Total Return (QTD)	Total Return (YTD)
S&P 500	0.98%	-1.04%	-3.47%	-1.28%	12.26%
Dow Jones Industrial Average	1.08%	-0.74%	-2.77%	-0.33%	8.70%
NASDAQ	0.88%	-1.92%	-6.12%	-1.71%	15.34%
NASDAQ 100	0.77%	-2.26%	-6.26%	-1.78%	15.36%
Russell 1000	1.06%	-1.92%	-3.45%	-1.27%	12.89%
Russell 2000	2.83%	-0.79%	-4.32%	-2.63%	7.46%
Russell 3000	1.22%	-1.76%	-3.43%	-1.35%	12.70%
ACWI	0.99%	-2.31%	-3.23%	-1.01%	17.36%

The Most Undervalued Asset on the Balance Sheet: Human Capital

When we talk with business owners, the focus naturally drifts toward the familiar scoreboards—revenue growth, profit margins, productivity metrics, and client acquisition. These numbers matter. They keep the lights on and the doors open.

But there’s another form of capital—often ignored, always underestimated—that might compound faster than a packed pipeline or a record sales quarter: the people who make the business work.

Human capital is the engine inside the engine. And in today’s environment, managing it intentionally is no longer optional—it’s a competitive advantage.

Why Human Capital Outperforms Traditional Growth

When owners prioritize people with the same seriousness they give to cash flow or compliance, something transformational happens:

• Engagement increases, leading to better decision-making and fewer costly mistakes.
• Turnover decreases, protecting the institutional knowledge that actually runs the company.
• Culture strengthens, easing the burden of leadership and pulling everyone in the same direction.
• Innovation happens naturally, because supported teams think bigger.
• Clients feel the difference, turning into stickier relationships and more referrals.

That’s compounding—quiet, steady, and more durable than chasing the next client win.

 

A Framework Worth Studying: EOS® (Entrepreneurial Operating System)

Among the many operating systems for small and midsize companies, EOS stands out as a practical, battle-tested structure for prioritizing human capital. At its core, EOS helps owners turn soft, people-related challenges into hard, manageable processes. Here are a few EOS tools that reinforce the power of investing in your team:

• The People Analyzer™ – A simple but profound tool that helps you evaluate whether each person “Gets it, Wants it, and has the Capacity to do it” (GWC™). It gives clarity—and hard data—on fit, alignment, and long-term potential.
• The Accountability Chart™ – Much more than an org chart, this tool defines roles based on function, not titles. It clears up the confusion that drains energy, solving 80% of people problems before they start.
• L10 Meetings® – A weekly rhythm that builds transparency, communication, and consistency. Companies that run strong L10s see friction drop and execution increase.
• Rocks – Quarterly priorities that give your team purpose and shared direction—helping stop the swirl and anchor your people to what truly matters.
• Scorecards – Metrics that empower each seat on the chart. When every team member knows their numbers, leadership becomes lighter and accountability grows naturally.

 

EOS wasn’t designed to “fix people.” It was designed to honor them with structure.

 

The Real Return on Investment

Here’s the truth most balance sheets never show: A healthy, aligned, supported team compounds faster than any marketing budget or new client pipeline. When leaders pour into the people who pour into the business, turnover drops, talent rises, and execution becomes consistent. And while competitors race to squeeze growth out of margins, your company quietly builds something far more resilient—momentum.

 

If you’re looking for the next strategic edge, consider this: maybe it’s not in acquiring more clients, but in investing deeper in the people who already believe in your vision.

 

SOURCE: EOS

 

Global Client Survey

We’re inviting you to take part in a quick, anonymous client survey. Your feedback helps us fine-tune our process, elevate your experience, and ensure we’re delivering what matters most to you. This isn’t just about checking a box—it’s about shaping the future of how we serve you. Your voice helps guide our next steps. We’re listening. We’re learning. And we’re grateful for your trust.

 

Take Our Survey Now (click here)

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Disclosures

1. Wealth Mechanics™ is a registered trademark of Cestia Wealth Management. Unauthorized use of the trademark, including but not limited to commercial use, reproduction, or imitation without explicit written permission from Cestia Wealth Management, is strictly prohibited.
2. Market commentary provided by NewEdge Advisors
3. Charts concerning market data are provided by Exhibit A.
4. Guides and other downloadable firm material respective to financial planning processes and data are provided and powered by fpPathfinder.
5. Advisory services offered through NewEdge Advisors, LLC, a registered investment adviser. Securities offered through NewEdge Securities, LLC. Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC are wholly owned subsidiaries of NewEdge Capital Group, LLC.
6. Cestia Wealth Management is not a legal tax professional. We offer tax gap analysis for clients who desire to have a comprehensive financial plan, which requires in-depth tax strategy and planning as a distinct part of the overall customized solution. Please consult your tax professional on all matters addressed in this report.
7. Information about annuities are not to be considered a recommendation. The information provided should not considered a recommendation to purchase or sell any particular security.
8. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.