Hello,

As we settle into fall, we’re bringing you a mix of insights that touch on markets, money, and even our four-legged friends.

We start with “On Our Minds,” in which you’ll find videos on the rising role of private equity in pet care, the real story behind buy now pay later programs, and the scams making waves in 2025 that everyone should know about. 

Then in the Market Lens update, our own Tyler Craig, CFA,  provides context to U.S. stocks that are trading at their loftiest valuations in more than a century.

To wrap things up, “Beyond the Desk” offers a glimpse into what our team has been up to outside the office, with a few fun personal updates we’re excited to share.

If you have inquiries about the investment markets or your tailored wealth management strategy, please don’t hesitate to reach out to us!

Best Regards,

The Barry Team

ON OUR MINDS THIS MONTH

Veterinary bills have soared 60% in the last decade, leaving many families struggling to care for their pets. Behind the rising costs are private equity firms changing the way care is delivered.

Buy Now, Pay Later (BNPL) promises “free” loans and instant gratification, but the real money is made behind the scenes.

From AI-generated phone calls to fake job offers, scammers are finding new ways to steal money in 2025. This video uncovers the five fastest-growing scams, how they work, and what you can do to protect yourself.

THIS MONTH'S MARKET LENS

This chart shows a blend of long-term valuation measures going back to 1900. By these gauges, U.S. stocks are at or near their most expensive levels in history, surpassing even the Dot-Com Bubble and the lead-up to the Great Depression. While valuations are not a perfect timing tool, they provide important context - suggesting a thinner margin of safety and less room for error in corporate earnings and the broader economy. (Past performance is not indicative of future results).

WISDOM WORTH REPEATING

"When all the experts and forecasts agree, something else will happen.”

-Bob Farrell, former Merrill Lynch Chief Market Analyst

BEYOND THE DESK

Janieva celebrated her birthday in August, Happy Birthday Janieva!

Kate's son, Austin, won the club championship at Reservation Golf Club! Congrats Austin!

Whitney's daughter, Avery, began her college journey!

Joe's granddaughter, Ayden, also started her Freshman year at the University of Florida!

Liz's children, Kendall and Brayden,  attended a wedding this weekend.

COMMENTS, COMPLIMENTS, & CRITIQUES

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