Fintegrity

03/22/2026

Fintegrity's investment results through December 31, 2025 are in and every composite outperformed its benchmark through year-end 2025, net of fees over one-year, three-year, five-year, and since inception periods. See the attached Investment Performance Summary for composite returns, benchmarks, and important disclosures.

I founded Fintegrity with a simple mission: to provide individuals and families investing $1 million or more (now $2 million) with the same high-caliber investment discipline typically reserved for institutions.

Fintegrity® LLC has managed diversified stock‑ and bond‑focused portfolios for families, with performance calculated and presented in accordance with the Global Investment Performance Standards (GIPS®). GIPS‑compliant performance helps investors by providing standardized, transparent, and fully disclosed return information that makes it easier to compare managers and have greater confidence that results are fair and not cherry‑picked.

Fintegrity LLC has been independently verified for January 22, 2019 through December 31, 2025 by The Spaulding Group. The verification report is available upon request.

If you'd like to see the full results or learn how we can help preserve and grow your assets, contact [email protected].

Past performance is not indicative of future results. All investments involve risk, including possible loss of principal. Fintegrity LLC is a registered investment adviser. GIPS® is a registered trademark owned by CFA Institute.

03/05/2026

Recent strikes involving the U.S., Israel, and Iran are causing concern, not just for global safety but also for financial markets. What does this mean for your portfolio?

Here’s a quick assessment of the financial implications:

Familiar Market Reactions
We're seeing a familiar pattern—oil prices are up, while stocks and bonds have dipped slightly. Historically, market reactions to geopolitical events are often short-lived and driven primarily by oil price spikes.

History as a Guide
Despite numerous regional conflicts, from WWII to more recent events in Ukraine and Gaza, markets have shown resilience. Economic fundamentals tend to drive long-term performance, not short-term geopolitical volatility. Making drastic portfolio changes based on headlines can often be counterproductive.

Oil Prices in Perspective
The main concern for investors is a potential disruption to oil supplies, particularly through the Strait of Hormuz. However, oil prices are still well below their 2022 peak, and the U.S. is now the world's largest oil and natural gas producer, which helps cushion the economy.

The Key Takeaway
The most critical lesson from past geopolitical conflicts is the value of staying invested. While it's natural to feel uneasy, financial plans are built to navigate this kind of uncertainty. Markets have a history of rebounding, reinforcing the importance of maintaining a long-term strategy.

For long-term investors, the goal is to separate the headlines from portfolio decisions.

11/27/2025

Building Wealth Through Timeless Investment Principles

As an active portfolio manager for high-net-worth families, I’ve learned that successful wealth management hinges on three enduring qualities: discipline, patience, and fundamental analysis—not market timing or emotional reactions to volatility.

Legendary investors who built enduring fortunes share a common philosophy: focus on value, ignore short-term noise, and let compounding work.

The Core Principles
1️⃣ Price ≠ Value
Peter Lynch captured a fundamental truth: “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.”

The cost of sitting on the sidelines during recoveries often exceeds any protection gained from avoiding downturns.

Warren Buffett said it best: “Price is what you pay. Value is what you get.”

💡 Lesson: Pay fair prices for exceptional businesses. Focus on intrinsic value—not the headlines.

2️⃣ Emotional Discipline Wins
Markets reward contrarian thinking when paired with rigorous analysis.

Buffett advised: “Be fearful when others are greedy. Be greedy when others are fearful.”

Benjamin Graham added: “The intelligent investor is a realist who sells to optimists and buys from pessimists.”

🧭 Translation: Emotional discipline is your competitive edge. Staying rational when others are reactive allows wealth to endure.

3️⃣ Time Is Your Ally
Benjamin Graham noted: “In the short run, the market is a voting machine, but in the long run, it is a weighing machine.”

Charlie Munger distilled it further: “The big money is not in the buying or selling, but in the waiting.”

⏳ Compounding requires patience. Wealth is built by owning quality businesses through full cycles—not by chasing short-term moves.

The Bottom Line
Your wealth deserves more than passive index exposure or delegation to junior staff. It deserves an active manager who knows your portfolio intimately and makes intentional decisions grounded in fundamental value—not sentiment.

These timeless principles have endured because they work. That's what separates wealth creation from wealth destruction.

These insights echo what I practice daily: patience, discipline, and a focus on quality businesses rather than market noise.

If you’d like to discuss how these principles apply to your investment strategy, visit Fintegrity.com or schedule a conversation directly.

Disclosure: This information is for educational purposes only and not investment advice. All investing involves risk, including the possible loss of principal.

11/13/2025

For high wage-earning families, Social Security might seem like a small piece of the financial puzzle, but a strategic claiming decision could add $100,000 to $500,000+ in lifetime value. 💰

It's not just about when you claim—it's about coordinating your strategy with your entire financial plan.

Here's why a tailored approach is crucial for affluent retirees:

1️⃣ Longevity Advantage: Higher-income Americans often live 5-10 years longer. Delaying your claim to age 70 can significantly increase your lifetime, inflation-protected income, especially if you live into your 90s.

2️⃣ Tax Complexity: You're more likely to pay taxes on your benefits. Coordinating claims with Roth conversions and portfolio withdrawals is essential to minimize your lifetime tax bill.

3️⃣ Medicare (IRMAA) Surcharges: Your claiming decision directly impacts your income, which can trigger higher Medicare premiums (IRMAA)—potentially costing you thousands extra per year.

📈 The Power of Delaying
Claiming at 70 vs. 62 could mean an extra ~$27,000 per year in benefits. The break-even point is often around age 80, making it a powerful choice for those with longer life expectancies.

👩‍❤️‍👨 Spousal & Survivor Benefits are Key
When one spouse passes, only the larger of the two Social Security checks remains. Maximizing the higher earner's benefit by delaying to age 70 provides a crucial safety net for the surviving spouse.

Thinking about your Social Security strategy? It's a critical component of a robust retirement plan that requires careful integration with tax, investment, and estate planning.

Send a message to learn more

11/10/2025

As 2025 draws to a close, many investors are reflecting on strong market performance and, understandably, have concerns about current valuations. 🤔 Is now the time to reduce exposure to stocks?

The temptation to "time the market" – exiting before a downturn and re-entering before recovery – is strong. However, history repeatedly shows this is incredibly difficult, even for experts. Remember Alan Greenspan's 1996 "irrational exuberance" warning? Investors who heeded it missed massive gains.

Market cycles are a natural rhythm. Through every correction and bear market since 1980 (GFC, dot-com bust, COVID-19), disciplined long-term investors have been rewarded. The cost of waiting or trying to time re-entry is often far greater than staying invested.

Reasons for Optimism:

> Robust GDP growth forecasts (Atlanta Fed GDPNow 4.0% for Q3 2025). 🚀

> Increased capital spending by hyper-scaler tech firms ($500B in 2026).

> Lower interest rates from the Fed.

> Eased trade tensions with China, securing critical rare-earth materials. 🌏

Key Lesson:
Patience and discipline compound over decades. Trusting your plan, maintaining a diversified portfolio, and staying invested through market cycles is the proven path to long-term wealth.

As star mutual-fund manager Peter Lynch put it: “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections.” Ignore the noise, commit to your strategy, and have the fortitude to see it through.

Disclosure: This communication is for general educational and informational purposes. It does not constitute investment advice, and past performance does not guarantee future results. For personalized advice based on your specific circumstances, goals, and risk tolerance, contact Jeffrey Barnett.

09/05/2025

Why are markets near all-time highs if the economy is slowing? 🤔

It might seem puzzling, but here’s what’s happening:

📈 The stock market hitting new highs is often just part of normal market cycles. History shows that new highs don’t always mean a pullback is coming—it depends on the strength of the economy and corporate fundamentals.

💼 Recent jobs reports suggest hiring has slowed. While this could signal financial strain for consumers or caution from companies, it’s important to keep perspective:

Job growth has been strong for years.

The unemployment rate remains low at 4.3%.

Employment data often lags behind broader economic trends.

Q2 GDP grew by 3.3%, beating expectations.

80% of S&P 500 companies reported positive earnings surprises.

Here’s the irony: markets often treat “bad news” as “good news.” Why? A weaker jobs report increases the chances of a Fed rate cut, which is typically good for stocks.

The key takeaway? Markets tend to reflect long-term corporate earnings rather than short-term economic data. 📊 The included chart shows how earnings growth drives long-term market performance, even when volatility arises in the short term.

Stay patient, keep a long-term perspective, and focus on the fundamentals. That’s the recipe for investment success! 🚀



Risk Disclosure: Investing involves risk, including the potential loss of principal. Past performance does not guarantee future results.

07/16/2025

🚨 The "China Shock 2.0" is Coming—And It Could Be Far Worse

Remember the China Shock of 1999-2007 that eliminated nearly 25% of U.S. manufacturing jobs? That was just the warm-up act.

The New Reality: China has flipped the innovation script. According to the Australian Strategic Policy Institute:
2003-2007: U.S. led in 60 of 64 frontier technologies
2019-2023: China now leads in 57 of 64 key technologies

China is no longer competing on cheap labor—they're dominating the sectors that matter most: AI, quantum computing, semiconductors, biotech, and advanced manufacturing.

Why This Matters for Business: Unlike the first China Shock (a one-time labor transition), this is about sustained innovation competition. Chinese companies like BYD, CATL, and DJI didn't just catch up—they're setting the pace in EVs, batteries, and drones.

The authors' wake-up call: Tariffs alone won't solve this. America needs to:
✅ Partner with allies, not punish them
✅ Invest aggressively in strategic sectors
✅ Focus on long-term commitments
✅ Prepare workers for inevitable disruption

The question isn't whether this technological competition will reshape global business—it's whether American companies and policymakers will adapt fast enough to stay competitive.

What's your take? Are we prepared for this shift in the global innovation landscape?

The Trump administration is fighting the last war while China marches toward dominating the industries of the future.

07/01/2025

Despite persistent negative headlines and widespread economic pessimism from both consumers and businesses, the markets remained strong throughout June. Major news outlets continued to highlight concerns over market instability, while consumer confidence surveys revealed deep anxieties about tariffs, recession risks, and broader economic uncertainty. Business leaders also shared a grim outlook, with economic optimism falling sharply—recession expectations rose to 25% in June, up from just 8% earlier in the year. Meanwhile, consumer confidence declined for the sixth consecutive month.

Yet, in the face of this overwhelming "wall of worry," the markets displayed extraordinary resilience. Investors appeared to focus less on the initial tariff threats and more on the Trump administration’s tendency to scale back its most aggressive proposals. This divergence between widespread pessimism and robust market performance illustrates a fundamental truth about investing: markets often thrive in an environment of fear. When pessimism dominates, sidelined capital tends to flow back into riskier assets—particularly when worst-case scenarios fail to materialize and policy uncertainty begins to ease.

As illustrated in the chart below, the S&P 500 experienced a sharp decline of up to 19% earlier this year before rebounding to a gain of nearly 6%.

04/21/2025

📉 Navigating Market Volatility: Tariff Impacts and Portfolio Strategy 📈

The U.S. economy is facing rising recession risks, fueled by growing tariff tensions. Economists now estimate a 45–47% chance of a recession in the next year—up from just 25% two months ago. While the extent of the impact remains uncertain, markets are already feeling the pressure, with the S&P 500 down 14.1% from its February peak.

Here are some key insights:

⚠️ Market Context
Historically, the S&P 500 sees median declines of ~30% during recessions. While past performance doesn’t guarantee future trends, it highlights the potential for further downside if a recession is confirmed.

⏳ Timing Matters
Markets often peak 6–8 months before a recession starts and recover 4–6 months before it ends. But trying to “time the market” is risky—studies show that investors who attempt to outguess the market underperform by ~3% annually.

🌟 Reason for Optimism
Investor sentiment is at an extreme low, with 56.9% of individual investors reporting bearish outlooks and institutional fund managers taking defensive positions. Historically, such widespread pessimism often precedes recoveries, with average rebounds of 29.7% over the next 12 months.

💡 Our Approach

Avoid knee-jerk portfolio changes. Discipline and a long-term view consistently win.

Selectively adjust for stability. For clients relying on monthly withdrawals and are sensitive to volatility, we’ve modestly reduced stock allocations to ensure greater resilience.

Watch for opportunities. Should a recession occur, we’ll seek chances to invest more aggressively before the downturn ends.

Warren Buffett’s advice rings true: “Be fearful when others are greedy, and greedy when others are fearful.” Staying disciplined and focused on long-term goals is critical in times like these.

Stronger markets often rise after challenging times, as shown in the attached chart. 💪

04/07/2025

📉 Navigating a market downturn can be challenging, especially during steep drawdowns like the one triggered by the trade war. Many investors are rethinking their asset allocation—and for good reason.

Here’s some perspective:

A recent chart of calendar year returns (1926-2024) highlights the performance of portfolios ranging from 100% bonds to 100% stocks. It reveals average returns, the largest gains, and the worst losses.

Key takeaways:

✅ Money needed within 5 years shouldn’t be in stocks—they’re too volatile in the short term.
✅ For long-term investments, consider the worst calendar losses for each allocation. If a 34.9% loss (like in the 20% bond/80% stock portfolio) feels unbearable, shift towards more bonds to reduce volatility.

The goal? Find an allocation that balances returns with risk you can emotionally handle—so you avoid panic selling when markets dip.

📈 Remember, markets have historically recovered over time. While there are no guarantees, staying the course is often key to long-term success.

👉 For clients investing over $1 million, I provide personalized, separately managed accounts through Fintegrity, my fiduciary registered investment adviser. I offer professional investment management and expert guidance tailored to help you achieve your financial goals. 🌟

💡 Reminder: Investing involves risks, including loss of principal. Past performance doesn’t guarantee future results. Stay informed and invest wisely!

01/20/2025

🏠💸 The Hidden Risks of Retirement Communities with Entrance Fees 💸🏠

Retirement communities, especially Continuing Care Retirement Communities (C.C.R.C.s), promise lifelong care and stability for seniors — but what happens when they face financial trouble? The answer: residents can lose not only their homes but also their life savings.

🔍 Key facts from recent cases:

C.C.R.C.s often require large entrance fees, some "refundable," but refunds are not guaranteed if the community declares bankruptcy.

Residents are often low-priority creditors, putting their refunds and savings at risk.

Bankruptcy doesn’t just cause financial loss — it forces vulnerable seniors to relocate, disrupting their lives and care.

Recent examples, like Harborside in Port Washington, N.Y., show the devastating effects of financial failures. For Bob Curtis, 88, and his wife Sandy, 84, the promise of security vanished when Harborside declared bankruptcy for the third time in 2023. Now, residents are uncertain about their refunds and futures.

⚠️ What can we do?

Opt for rental-based C.C.R.C.s with no large buy-ins to reduce financial risk.

Investigate a community's financial stability and state regulations before committing.

Consider consulting legal or financial professionals to review contracts.

While C.C.R.C.s can provide incredible care, these financial pitfalls highlight the need for better regulations and transparency in senior housing. Let’s protect our aging loved ones and ensure their final chapter is secure. ❤️

🔗 Read the full story here:

It doesn’t happen often. But when it does, some residents risk losing everything.