Betsy Moszeter
CEO & President
Newday Investments
It’s been a busy year at Newday, as you’ll read throughout this newsletter. I am beyond thrilled to have joined the team at the beginning of August, drawn equally to the firm’s strong portfolio management capabilities and my desire to work with each team member to deliver world-class client relations. I would love for you to join us on October 16th for a presentation, followed by open Q&A with Jason and me.
If you are unable to join the call, please visit our Investment Portfolios webpage, and/or email me to schedule a one-on-one call or simply ask me a question. I’m betsy@newdayinvesting.com. I look forward to speaking with you.
The Dragon’s Hoard: Unlocking Wealth in a World on Fire
When I was a boy, I would lose myself in the pages of The Hobbit, J.R.R. Tolkien’s tale of dragons, dwarves, and reluctant heroes. Decades later, those stories still speak to me. And lately, they feel more like reality than fantasy.
After spending the past week at the 80th United Nations General Assembly and the 16th anniversary of NYC Climate Week, this year titled Power On, I’ve been sitting with one metaphor in particular: the dragon.
In Tolkien’s world, Smaug hoards an unfathomable treasure beneath the Lonely Mountain. He neither shares it nor uses it, he simply guards it, while the world beyond burns and suffers.
That image struck me as I listened to passionate leaders, entrepreneurs, and institutions from around the world discuss the challenges of our time: climate breakdown, equity, food insecurity, health, AI governance, and more.
The resounding message?
The capital is out there. The challenge isn’t whether it exists, it’s whether it will move.
Capital Is No Longer Scarce. But Courage Is.
In every session, the same tension surfaced:
- Mission-driven organizations are doing extraordinary work and are often under-resourced.
- Federal support is shrinking. USAID is being cut.
- Meanwhile, trillions in philanthropic and private wealth are sitting idle, often in donor-advised funds, endowments, or investment accounts focused on growth over impact.
One family office leader shared a deeply personal story with me: after COVID, his teenage son came to him and asked, “Dad, I hope we’re not hoarding money while so many people are suffering.”
The truth, he said, was uncomfortable. Yes, they gave millions annually. They volunteered. But their wealth still grew faster than their giving. In the end, the son was right; they were hoarding.
That conversation changed their approach forever. They shifted more of their capital from passive structures to direct, catalytic, unrestricted giving. They began asking: How much is enough? What’s truly at stake? And what’s the point of wealth if not to meet this moment?
The Dragon Is Us
Tolkien’s dragons don’t create wealth. They guard it. They sleep on it. They isolate it. And when they finally act, it’s usually too late.
Today, many institutions including family offices, foundations, boards, risk becoming modern-day Smaugs: sitting atop vast financial resources while the world faces unprecedented challenges.
Let me be clear: this is not a moral condemnation. Most of the people I know in these circles are good, thoughtful, generous. But the scale of today’s challenges requires a new kind of generosity, one that is urgent, unafraid, and unguarded.
It’s time we asked ourselves:
- Are we truly stewards, or are we sleeping sentinels?
- Are we giving out of comfort, or out of conviction?
- Are we aiming to preserve wealth, or to activate it in service of humanity?
What Legacy Will We Leave?
We are not short on frameworks, reports, or innovation. We are short on bold, decisive action. We are short on family office leaders saying: “We’re going to deploy 10x what we gave last year.” Or: “We’re shifting 30% of our endowment to climate solutions.” Or simply: “We’re done waiting.”
Legacy isn’t measured in assets under management.
Legacy is measured in lives changed, futures secured, fires put out before they spread.
Tolkien wrote: “All we have to decide is what to do with the time that is given us.” That time is now.
A Call to Action and a New Causeway Forward
As NYC Climate Week ends and the headlines from UNGA begin to fade, this much is clear: good intentions are no longer enough. We need activation infrastructure; trusted pathways to move capital where it’s needed most, with speed, transparency, and measurable impact.
That’s why we’ve launched Causeway; a new platform from Newday, which went live on October 1st. More information can be found here; https://www.causewayimpact.com/
Causeway is designed for every mission aligned investor and donor; individuals, institutions, family offices, foundations, who are ready to deploy capital directly to high-impact initiatives and organizations, not years from now, but right now. It’s built for those who want to cross from intention into action, from stewardship into significance.
Because the world can’t wait for dragons to wake up.
It needs stewards willing to rise.
Let’s Connect
If you’re ready to move capital more boldly or if you’re just starting to ask different questions, I’d love to talk. Let’s build a community of modern-day stewards ready to rise to the moment.
-The hoard must move.
-The time is now.
-And the Causeway is open.
#ClimateWeekNYC #UNGA80 #Philanthropy #FamilyOffice #ImpactInvesting #CatalyticCapital #Legacy #Tolkien #Causeway #NewdayImpact #Stewardship #ClimateAction #PowerOn
Introducing Causeway: The Bridge Between Purpose and Partnership
Today, we’re thrilled to share with you the next chapter in our journey at Newday: the launch of Causeway, a values-aligned platform built to connect mission-led organizations and stakeholders in a more meaningful, action-driven way.
At Newday, we believe that where money moves matters. Our investment portfolios already reflect that conviction. But we know capital alone is not enough — we need connection, accountability, shared narrative, and the infrastructure to bring intention into sustained action. Causeway is designed to do exactly that.
Why Causeway?
Causeway is conceived as the bridge between purpose and partnership — a space where mission-driven organizations, community leaders, and impact-minded investors/donors can meet, align, and move capital with confidence and integrity.
Some foundational principles and features:
- Custom engagement tools: Organizations will have access to tools to tell their story, present measurable outcomes, show performance trajectories, and invite participation from capital holders.
- Reporting & transparency: Investors and donors will see not just dollars deployed, but progress made — with reporting and dashboards that align resources to outcomes. ● Strategic alignment: Causeway is not just a directory. We are building it so that capital flows into initiatives that align with rigorous impact criteria, thoughtful design, and long-term strategy.
- Network & community: Participatory investing means more than transactions. It means joining a community, learning from frontline innovations, and growing together.
In short: Causeway is meant to amplify impact, simplify engagement, and shorten the distance between intention and change.
How Causeway Integrates with Newday
Causeway is not separate from Newday’s mission — it’s an extension of it. Our unique structure ensures that the success of our platforms, portfolios, and partnerships are mutually reinforcing.
- Revenues from our investment advisory work help fuel the work of our nonprofit partners, supporting community storytelling, scaling innovation, and providing feedback loops back into investment design. newdayimpact.com
- We already partner with 50+ mission-aligned nonprofits — Causeway gives us a mechanism to deepen that collaboration, to move capital more directly, and to amplify those partners’ reach. newdayimpact.com
- With Causeway, we can close certain gaps: the “what’s happening now?” gap, the “where can I plug in?” gap, and the “did my capital move the needle?” gap.
Launch Timing & Leadership
We’re launching Causeway on September 23, 2025, aligned with our broader momentum during Climate Week and UNGA. (You may already have seen our announcement.) Facebook+2NextBillion+2
This launch comes alongside a strategic leadership development: Betsy Moszeter has joined Newday as our President & CEO to lead asset management growth and guide Causeway’s rollout. Her arrival marks a pivotal moment in scaling our technology, partnerships, and impact. newdayimpact.com+1
What You Can Do Now
If you’re a current investor, donor, or changemaker in your field, here’s how to engage:
- Stay informed / opt in. Sign up now to be among the first to access Causeway, preview partner organizations, and test dashboards.
- Explore alignment. Begin thinking: which issue areas (climate, equity, health, etc.) are you deeply committed to?
- Partner or pilot. If you’re connected to a mission-driven nonprofit or initiative, let’s talk about pilot partnerships.
- Join the community. Beyond capital, Causeway is about connection — forums, peer learning, shared storytelling — we want you to be part of it.
A Final Thought
In a world that often measures success by what’s held, we’re building a platform that measures success by what’s released, invested, transformed, and shared. Causeway is not a finish line — it’s an invitation: to lean in, to risk, to move beyond comfort into conviction.
We’d love for you to walk across this bridge with us.
— The Newday Team
Take This Job And Shove It: Why the job market gave the Fed cover to cut rates
The U.S. economy maintained a path of robust yet moderated growth throughout the third quarter of 2025, though beneath the surface, monetary policy underwent a critical pivot. Preliminary estimates suggested that U.S. GDP growth was tracking solidly, with some nowcasts indicating annualized growth potentially as high as 3.9% . This growth occurred despite a major policy shift by the Federal Reserve, which executed its first interest rate cut of the year in September. The central bank lowered the target range for the Federal Funds Rate to 4.0%–4.25%, signaling an intent to balance persistent, tariff-induced inflation risks with clear evidence of a cooling labor market. This shift in policy reassured markets that the Fed was prepared to support the economic expansion.
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The cooling of the labor market was perhaps the most compelling economic signal of the quarter and a primary justification for the Fed’s pivot. The unemployment rate ticked up in August, and monthly nonfarm payroll additions slowed significantly, pointing toward a decisive moderation in wage and employment pressure. Commodity markets delivered highly mixed quarter-to-date results: precious metals were the clear standout, with gold surging to a record high per ounce, driven by safe-haven demand amid geopolitical tensions and the prospect of lower real rates. Conversely, ample supply and reduced global demand kept the broad energy sector range-bound, resulting in crude oil prices registering a slight net decline for the quarter.
Overall, the combination of resilient corporate performance and the perceived benefit of monetary easing drove the U.S. stock market higher. The S&P 500 Index delivered a strong quarter-to-date gain of approximately 8.12%, pushing the index near its all-time highs as of the end of September and the MSCI ACWI was up approximately 7.5%. Investor sentiment was bolstered by positive earnings guidance, with estimated year-over-year earnings growth for the S&P 500 tracking at approximately. Technology, Materials, and Financials were particularly strong performers, suggesting that corporate fundamentals remained solid despite trade policy uncertainty. Focus now turns to the fourth quarter, with expectations of further rate cuts hinging entirely on the continued trajectory of the jobs market and inflation.
SeaVoir: Restoring Oceans While Nourishing People
At Causeway and Newday Impact, we believe the future depends on businesses that align profit with purpose — companies that not only meet consumer needs but also address the most urgent challenges of our time. That’s why we’re thrilled to highlight the launch of SeaVoir, founded by Philippe and Ashlan Cousteau.
SeaVoir is introducing algae-based Omega-3s as a powerful alternative to the destructive fish and krill oil industries. Today, 90% of global fish stocks are either fully exploited or overfished. At the same time, the Southern Ocean, the planet’s largest natural carbon sink, plays a critical role in regulating the climate. Protecting these ecosystems is essential, not only for biodiversity, but also for the billion people worldwide who rely on healthy oceans for their livelihoods and sustenance.
By going straight to the source — algae — SeaVoir provides consumers with the essential nutrition of Omega-3s without harming marine ecosystems. This model shows what’s possible when we embrace market-based solutions: creating profitable businesses that also deliver meaningful environmental and social impact.
As Philippe and Ashlan note, research and NGO advocacy remain vital. But if we want to scale ocean solutions, we also need businesses like SeaVoir to lead the way, businesses that can shift entire industries toward sustainability.
Newday Impact and Causeway are proud to support the Cousteaus and SeaVoir in this work. Together, we can build an economy that restores our oceans while nourishing our future.