Focused Wealth Management

06/02/2026

Welcome to 2 Question Tuesday. Phil DeAngelo, Mike, and Larry discuss the market capitalization of SpaceX’s initial public offering, about $1.75 trillion, and its ridiculous price-to-sales ratio of 93.7, with the 81% rise in the Philadelphia Semiconductor Index this year, and wonder if this means the market is in a bubble? They then talk about the stock market hitting new highs vs. how investors feel about the market and the economy, and ask what’s the single best habit for keeping emotions out of money decisions.

This is "2 Question Tuesday – 06/02/2026" by Focused Wealth Management on Vimeo, the home for high quality videos and the people who love them.

06/01/2026

Focused Wealth Management’s Jacob Friedman recently appeared in MarketWatch, sharing his perspective on the factors that could influence SpaceX’s path into widely held investment products and what investors should understand about the process.

SpaceX is projected to enter nearly every major U.S. equity index within about three weeks of trading, according to Friedman. The big holdout is the S&P 500, which has its own rule changes under review.

Read the full article below:

https://www.marketwatch.com/story/elon-musks-spacex-ipo-could-quickly-launch-into-your-retirement-plan-30c17279 Phil DeAngelo

Index funds popular with retirement plans are poised to buy SpaceX’s stock rocket-fast.

05/29/2026

05/29/2026

The headlines are exciting. The valuation math is worth a closer look. Philip J. DeAngelo has watched IPO cycles come and go since the mid-90s. His read on SpaceX? The private market run-up is significant, chasing momentum carries real risk, and index investors are about to find themselves with some interesting new exposure whether they asked for it or not.

05/28/2026

As anticipation around the SpaceX IPO continues to intensify, many investors are speculating about what the company’s eventual inclusion in major indexes could mean for the market.

Our own Jacob Friedman spoke with InvestmentNews about why the reality may look very different from what investors expect — and the key factors that could shape how SpaceX ultimately enters index products.

"Index methodology has become something advisors need to track," Friedman said. "With most equity flows now passive, the methodology decisions being made under competitive pressure matter for how every client's portfolio is constructed."

With excitement around high-profile IPOs growing, understanding the mechanics behind index inclusion, valuation, and investor demand remains critical.

Phil DeAngelo

Float mechanics, competing methodologies, and a flurry of rule rewrites mean passive investors face wildly unequal SpaceX exposure.

05/27/2026

Earlier this month we attended the Mint Jubilee Kentucky Derby Gala honoring Dr. Arif M. Muslim, recipient of this year’s Lifetime Achievement Award.

This event benefited the Cornerstone Family Healthcare Charitable Foundation, supporting its mission to expand access to care for all. Cornerstone Family Healthcare provides comprehensive care to individuals and families, with the belief that everyone deserves access to high-quality primary and preventative medical, dental, and behavioral health services.

Dr. Muslim’s remarkable legacy as a trusted physician partner, defined by his dedication, compassion, and commitment to improving lives, reflects the core values of Cornerstone. We also look forward each year to dressing up and celebrating alongside such an inspiring cause and community.

05/26/2026

The SpaceX IPO is coming, and your team at Focused Wealth is ready.

Investments Manager Jacob Friedman recently published an illuminating report explaining SpaceX's potential impact on major indexes. The report argues that SpaceX may become the first true trillion-dollar test case for how index providers handle mega low-float IPOs, with implications that extend to future listings like OpenAI and Anthropic.

Friedman appeared in Business Insider over the weekend to break down his insights.

"The biggest IPO in history is about to land in passive portfolios faster than anything comparable has before," Friedman said.

Check out the full story below.

SpaceX stock could show up in major indexes and the ETFs that track them soon after the company's IPO. Here's a rundown of what to expect.

05/26/2026

Welcome to 2 Question Tuesday. Phil DeAngelo, Mike, and Larry discuss the SpaceX IPO, as well as the expected IPOs of Open AI and Anthropic, whether these new stocks will soon enter index funds, and how these IPOs will transform the stock market. They then talk about how Federal Reserve officials have been talking about dropping the Fed’s easing bias and raising interest rates if inflation continues to remain above 2%.

This is "2 Question Tuesday – 05/26/2026" by Focused Wealth Management on Vimeo, the home for high quality videos and the people who love them.

05/25/2026

Today, we remember those who made the ultimate sacrifice in service to our country.

Memorial Day is a time to reflect on the courage and selflessness of the men and women who gave their lives to protect the freedoms we often take for granted.

As we spend time with family and loved ones this weekend, we honor and remember those who never made it home.

From all of us at Focused Wealth Management, we extend our deepest gratitude to our fallen heroes and their families.

05/22/2026

Same inflation report. Very different impact depending on where you stand.For lower-income households, energy costs consume a far larger share of income — making April's CPI jumphit three to four times harder on average. Understanding that divide is key to understanding where the realeconomic pressure is building.