By Eric Parnell, CFA on October 21, 2025October 21, 2025 <span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"></span> Markets continue to look “bubbly”, but a favorable economic and corporate earnings backdrop, rate cuts from the U.S. Federal Reserve, and an abundance of liquidity should continue to support asset prices in the near-term. The recent surge in gold and silver are signaling potential instability on the horizon. Keep a close eye on inflation readings heading into 2026. The stock market remains concentrated, and valuations are rich in these high-flying areas of the market. Maintaining a focus on broad portfolio diversification remains as important as ever in navigating potential downside risks going forward. MoneyMattersTV is a 30-minute business program, produced and distributed by Comcast and available in over 680,000 homes in the greater Philadelphia region. The purpose of the show is to encourage investors to think calmly and rationally, refresh their perspective on the long-term and recent history of the market, and encourage them to review their investment strategy. GVA was honored Eric was invited back to the show, and we are thrilled to share his segment with you. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Economic forecasts set forth may not develop as predicted. Mike Dever, Eric Parnell, Jeff Watkinson and any guest speakers are independent entities and not affiliated with Great Valley Advisors or LPL Financial. MoneyMattersTV, Great Valley Advisors and LPL Financial are separate entities. Compliance Tracking # – 812465