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12:00 TUESDAY – #285 – 4/28/26

INVESTING INSIGHTS by Robert Holman, CFA CFP® 


STOCK MARKET RATING (THE BIG PICTURE) …

  • Bullish/Bearish Rating: 6.5 = bullish (1 - 4 is bearish, 5 is neutral, 5 - 9 is bullish).  

  • Market/Economic Condition: Normal market, possibly a declining economy

  • Outlook: Precarious, reinvesting sidelined cash, “negatives” at the doorstep

 

Our market rating is once again bullish with a 6.5 score.  We are fully invested and no longer hold bearish positions. 


For a more complete picture of our portfolios, contact us for more information.

 

THOUGHTS ALONG THE WAY ... With the King and Queen here in the US visiting President Trump, I'm ruminating over how things seem to have come full circle. 


We wanted to escape the onerous taxing policies of King George (taxing sugar, paper, and tea), which were enacted without colonial representation.  Those taxes benefited certain government-sponsored churches pushing the British King's agenda. The colonies wanted full representation before taxes and the amount thereof were implemented, no state-sponsored churches, and the freedom to worship in churches of our choice.


Now we need to escape Democrat and Republican deficit spending that is driving this country ever-closer to unavoidable bankruptcy.  The idea that "national debt doesn’t matter because we owe it to ourselves" is foolishness, an idea taken from British economists.  We may have escaped the British rulers in 1776, but we invited their policies back in after WWII with the acceptance and implementation of British Keynesian economic policies.


Something has got to give.  Spending in excess of revenue has to stop. We must put sound economic policies first and foremost, and stop deficit spending by both governing parties.


PORTFOLIOS … After reading this report, if you are unsure how to respond to these conditions and would like a discussion or some complimentary advice, you may send an email message, and I’ll respond with the information you need.  For a free portfolio review,  get my Portfolio Assessment.

 

TO MY CLIENTS … THANK YOU FOR YOUR TRUST.

 

LINKS:           My Story                   About Us            Subscribe to Blog              Contact 

 

LEARN FROM THE BIBLE … Proverbs 15:22 MSG - Refuse good advice and watch your plans fail; take good counsel and watch them succeed.  See also James 4:13-16.

 

This report is a 2-3 minute read, published every Tuesday afternoon. To sign up for this weekly e-Newsletter, go to: http://www.defensiveadvisor.com/blog.

 

Opinions in this post are for general information only and are not intended to provide specific advice to, or recommendations for, any individual without our complete knowledge of that individual’s total financial profile. No strategy assures success or protects against loss. Nor does past performance guarantee future results



 
 
 

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Holman Wealth Management - The Defensive Advisor

Dallas, TX 75229 

To email us ... click here

 469) 907-0628

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Last Edited: October, 2025

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Holman Wealth Management LLC is a registered investment adviser offering advisory services in the State of Texas. Registration does not imply a certain level of skill or training. The information shared on this page shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute.
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HWM advisors are fiduciaries and as such, always put the client's needs and interests above their own.  All HWM advisors are fee-only advisors.  
 
The written content and opinions voiced herein are for general information only and are not intended to provide specific advice or recommendations for any individual without HWM having complete knowledge of that individual’s total financial profile.  Material presented herein is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. 
 
To determine what is appropriate for you, consult HWM or a qualified professional financial advisor.  While we provide general tax and legal information, please consult with a tax professional or attorney on tax and legal issues before proceeding on such information.  No investment strategy guarantees success or assures against occasional losses.

 

CFA - Chartered Financial Analyst (or CFA®): The CFA charter is the gold standard for the investment industry. CFA charterholders enjoy a mark of the highest distinction in the investment management profession, a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals. Passing the three six-hour cumulative CFA exams (Levels I, II, III) is a difficult feat that requires extensive study (successful CFA candidates report spending an average 3,000 hours of study to become a CFA). Earning the CFA charter demonstrates mastery of many of the advanced skills needed for investment analysis and decision making in today’s quickly evolving global financial industry.  The CFA exam is generally considered more difficult than the CPA exam or the bar exam. There are about 59,000 CFA charterholders.

 

To earn the CFA charter, candidates must master a broad-based curriculum of investment principles, and commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct. The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision making and is firmly grounded in the knowledge and skills used every day in the investment profession. The three levels of the CFA Program test a proficiency with a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed-income and equity analysis, alternative and derivative investments, economics, financial reporting standards, portfolio management, and wealth planning.

 

The CFA Institute Code of Ethics and Standards of Professional Conduct, enforced through an active professional conduct program, require CFA charter holders to:

  • Place their clients’ interests ahead of their own

  • Maintain independence and objectivity

  • Act with integrity

  • Maintain and improve their professional competence

  • Disclose conflicts of interest and legal matters

 

CFA® charterholders who fail to comply with the above ethics, professional standards and other requirements may be subject to the CFA Institute’s enforcement process, which could result in censure or permanent revocation of their CFA® charter.

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CFP® (Certified Financial Planner): The CERTIFIED FINANCIAL PLANNER™: The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Currently, more than 103,000 individuals have obtained CFP® certification from the CFP Board in the United States. 


To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements: 
  ●  Education – a) Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and b) attain a bachelor’s degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning; and
  ●  Examination – Pass the comprehensive CFP® Certification Examination. The examination includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real-world circumstances; and
  ●  Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and  
  ●  Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals. 


Individuals who become certified must complete the following ongoing education and ethics requirements to maintain the right to continue to use the CFP® marks: 
  ●  Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the CFP Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and  
  ●  Ethics – Renew and agree to be bound by the CFP Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their clients. 

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CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification. 

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