The DWM Common Sense Podcast delivers timely market commentary and practical financial perspectives from Destination Wealth Management. Adapted from Michael Yoshikami's regular weekly updates, each episode provides clear, thoughtful guidance designed to help clients and listeners stay informed in a changing world.
Please see Important Disclosures here https://www.destinationwm.com/disclosures.
Common Sense 10.23.26: AI Growth vs. Profitability
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
Why the significant costs of AI infrastructure and development are raising questions about long-term profitability
How the early internet boom offers lessons about the difference between technological innovation and sustainable business models
Why strong demand and revenue growth do not necessarily translate into corporate profitability
How investor expectations about future AI earnings and valuations can contribute to stock market volatility
Why AI could reshape the U.S. economy through its potential impact on employment and corporate earnings
How DWM considers market psychology, investor sentiment, and business fundamentals when evaluating investment opportunities
Learn more at www.destinationwm.com.
15 Oct 2026
Common Sense 10.15.26: How Investor Psychology Shapes Markets
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How behavioral finance and investor emotions can influence market movements and investment decisions
Why investors often buy during periods of market optimism and sell when sentiment turns negative
How momentum investing can drive stock prices higher, sometimes beyond what earnings and valuations support
Why AI enthusiasm highlights the importance of distinguishing market trends from company fundamentals
How media headlines, taxes, and fear of losses can influence investment decisions
Why DWM considers market psychology, valuations, and individual risk tolerance when developing portfolio strategies
Learn more at www.destinationwm.com.
8 Oct 2026
Common Sense 10.08.26: What Economic Data Tells Us
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
Why the 10-year Treasury yield can provide insight into market expectations for future inflation
How CPI and PPI data help measure changes in consumer prices and business input costs
Why Federal Reserve votes and meeting minutes can offer clues about the direction of monetary policy
How housing starts, manufacturing activity, and hiring trends can provide clues about future economic growth
Why jobs, wages, and unemployment claims are especially important in a consumption-driven U.S. economy
How corporate earnings and broader economic conditions factor into DWM’s top-down approach to portfolio positioning
Learn more at www.destinationwm.com.
1 Oct 2026
Common Sense 10.01.26: Signs of Slower Growth
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
Why weaker consumer sentiment and higher energy prices may weigh on spending and economic activity
How rising Treasury yields and borrowing costs can create additional pressure for consumers, businesses, and financial markets
Why DWM is closely watching the potential for slower economic growth and the risk of recession
How elevated valuations in certain areas of the market could create added vulnerability if corporate earnings weaken
Why DWM continues to emphasize dividends, cash flow, and diversification across large, mid, and small-cap stocks
How diversification across U.S. and international equities, value and growth, and different fixed-income maturities can help portfolios navigate periods of uncertainty
Learn more at www.destinationwm.com.
25 Sept 2026
Common Sense 9.25.26: Why Markets Look Ahead
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How economic news can affect markets differently than investors might initially expect
Why strong economic data can sometimes pressure stocks and bonds if it raises concerns about inflation and interest rates
How weaker economic data can sometimes support markets if it increases the likelihood of lower inflation or easier Federal Reserve policy
Why markets tend to react to expectations about future earnings, economic growth, and interest rates rather than current conditions alone
How DWM considers current economic information, investor behavior, valuations, and longer-term expectations when positioning portfolios
Why maintaining perspective and recognizing uncertainty are important when interpreting daily market headlines
Learn more at www.destinationwm.com.
17 Sept 2026
Common Sense 9.17.26: Balancing Investment Risk
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How market volatility and time horizon can affect the appropriate level of portfolio risk
Why reducing market risk too much may introduce other risks, including inflation and loss of purchasing power
The importance of liquidity when building a portfolio that can adapt to changing financial needs
How taxes can impact investment returns and long-term financial planning
Why balancing multiple risks, including volatility, inflation, liquidity, taxes, and concentration is an important part of building an appropriate portfolio strategy
Learn more at www.destinationwm.com.
11 Sept 2026
Common Sense 9.11.26: U.S. Debt & Economic Headwinds
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How rising U.S. debt and interest costs may create long-term headwinds for economic growth
Why lower interest rates can challenge retirees who depend on fixed-income investments
How housing costs and inflation may be reducing purchasing power and standards of living
Why DWM believes dividends, equities, and thoughtful portfolio positioning remain important amid slower economic growth
Learn more at www.destinationwm.com.
3 Sept 2026
Common Sense 9.03.26: Circular Financing & Market Valuations
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
What circular financing is and how it can push technology valuations higher
Why interconnected investments may create added risk during strong markets
Why earnings and profitability ultimately need to support high valuations
How DWM is monitoring these risks while maintaining a prudent, diversified approach
Learn more at www.destinationwm.com.
28 Aug 2026
Common Sense 8.28.26: U.S. Debt & Growth
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How rising U.S. debt and interest payments may create a long-term headwind for economic growth
Why persistent deficits could contribute to slower GDP, job, and wage growth over time
How government borrowing pressures may influence interest rates and the broader economy
Why lower long-term fixed income yields could make traditional retirement income strategies more challenging
How DWM is focusing on selective fixed income, dividend-paying assets, and sectors positioned to withstand slower economic growth
Learn more at www.destinationwm.com.
20 Aug 2026
Common Sense 8.20.26: AI, Jobs, and Economic Outlook
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How rising interest rates, elevated oil prices, and geopolitical uncertainty are affecting markets
Why AI could significantly reduce demand for mid-level, entry-level, and operational jobs
How AI-driven efficiencies may initially increase corporate profit margins and support equity returns
Why higher unemployment and reduced consumer spending could eventually slow economic growth
The potential for slower growth and persistent inflation to create stagflation risks
How DWM is positioning portfolios with shorter-duration fixed income, new-economy companies, and dividend-oriented assets
Why portfolios must continue to evolve as technological and economic conditions change
Learn more at www.destinationwm.com.
13 Aug 2026
Common Sense 8.13.26: Bonds and Interest Rate Risk
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How bonds generate income and return principal at maturity
Why bond prices fall when interest rates rise
How duration measures a bond’s interest-rate risk
The roles of the yield curve, credit quality, and diversification
Why DWM currently favors shorter-duration, primarily U.S. fixed income
DWM’s outlook for modestly higher interest rates amid inflation pressures
Learn more at www.destinationwm.com.
6 Aug 2026
Common Sense 8.06.26: Why Sector Diversification Matters
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How different sectors respond to economic conditions
Why performance can vary within the same sector
How diversification helps reduce concentration risk
The roles of technology, healthcare, staples, and energy
How DWM adjusts sector exposure based on its outlook
Learn more at www.destinationwm.com.
30 Jul 2026
Common Sense 7.30.26: Why Oil Prices Matter
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How oil prices affect corporate profits, consumer spending, and overall economic growth
Why rising energy costs can fuel inflation and influence Federal Reserve interest rate decisions
How changes in interest rates impact both stock and bond markets
Why markets react more to unexpected inflation and rate changes than gradual shifts
How DWM looks beyond the headlines to manage portfolios during periods of energy and market uncertainty
Learn more at www.destinationwm.com.
23 Jul 2026
Common Sense 7.23.26: How We Value Stocks
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How DWM evaluates stocks using cash flow, valuations, and future earnings potential
Why investor sentiment and AI are influencing today's market prices
The importance of balancing market momentum with disciplined investing
How DWM manages risk by focusing on long-term fundamentals over headlines
Why active research and cautious portfolio management remain central to DWM's investment process
Learn more at www.destinationwm.com.
16 Jul 2026
Common Sense 7.16.26: Inflation Signals & Market Rotation
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
How energy prices, AI, and employment are shaping the inflation outlook
Why the Fed may keep interest rates higher for longer
Signs of market rotation toward dividend-paying and defensive sectors
How real estate and global events could affect future inflation
Why DWM continues to actively manage portfolios for changing market conditions
Learn more at www.destinationwm.com (http://www.destinationwm.com).
9 Jul 2026
Common Sense 7.09.26: Market Highs & Valuations
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
Why stocks can reach record highs despite economic uncertainty
How future earnings expectations drive market valuations
The risks of chasing overvalued sectors like AI
Why rebalancing and diversification remain important
How inflation and interest rates influence stock valuations
Learn more at www.destinationwm.com (http://www.destinationwm.com).
6 Jul 2026
Common Sense 7.02.26: Rates & Inflation
Each week, Michael Yoshikami, CEO of Destination Wealth Management, shares his perspective on the latest market developments, economic trends, and investment strategies to help investors stay informed and focused on long-term success.
In this episode, he covers:
The market's response to easing geopolitical and oil price concerns
What to watch from the Federal Reserve and interest rates
AI and technology IPO opportunities and risks
Why fundamentals continue to matter in today's market
Staying disciplined amid changing market conditions
Learn more at www.destinationwm.com (http://www.destinationwm.com).
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