If you watched the Rose Garden ceremony on April 2nd, you will undoubtedly remember this visual aid used to illustrate the so-called reciprocal tariffs set to be imposed by the US. Here is a sampling of the data shared. The concept was clear – the administration calculated the tariff being charged to the USA by […]

In recent weeks, clients have been consuming more financial news. This is understandable as when markets are volatile, the news media enjoys covering the ensuing drama and speculation. A client heard the term “multiple compression” and wanted to understand what that meant. Multiple is another term for a commonly used valuation metric – the Price […]

Whenever we hit times of market volatility, I always appreciate it when clients reach out to me. Many times, it helps just to talk to someone about your fears and concerns. The small action of speaking your worries outloud can be enough to satisfy that pesky “do something!” urge. During those discussions this week, there […]

During week’s of high market volatility (like the one we just lived thru), I always like to revisit this writing from Warren Buffet from almost 40 years ago In the 1987 letter to Berkshire Hathaway shareholders, Buffett unfolds the concept of Mr. Market for us: Ben Graham, my friend and teacher, long ago described the mental attitude toward market […]

A client reached out this week asking about using a bond ladder as part of their fixed income allocation. I thought this topic may be of broader interest so let’s take a look! What is a bond ladder? A bond ladder is a portfolio of individual fixed income instruments (such as bank CDs or individual […]

I was talking with a client last week and the question of carried interest came up. She mentioned she’d heard the term in the financial press but wasn’t quite clear on the specifics. Let’s take a closer look at this topic that is often discussed for its controversial tax treatment. What is Carried Interest? Carried […]

With less than two weeks to go before the November 2024 election, many clients are feeling a bit anxious. These feelings are understandable as many aspects of our lives can be swayed by the political party that wins the various branches of the US government – including the markets and investments. I wrote a post […]

It’s hard to escape talk about the upcoming presidential election cycle in the US, especially if you live in a swing state. While there are many differences between the candidates, one that I’m discussing more often than not with clients is income tax policy. It’s understandable – income taxes can have a material impact on […]

If you have been listening to the business news this week, you may have the same question a client did..what is the VIX and why is everyone talking about it? The VIX is shorthand for the Chicago Board Options Exchange (CBOE)’s Volatility Index. It is a tool used to measure the expected volatility in the […]

In talking with a client this week about the market’s closure for Labor Day, the question was said in passing – “is the market always closed on National Holidays?” This is a question I’ve never answered here, so let’s take care of that today! As is often the case, the question doesn’t have a straightforward […]