Insights

2018 Midyear Outlook Summary

“More money has been lost trying to anticipate and protect from corrections than actually in them.”
-Peter Lynch- 

As the first half of 2018 draws to a close, the global expansion continues to gain momentum. The U.S. economy seems to be poised for continued growth, while conditions in Europe continue to improve. Low interest rates and modest inflation provide the catalyst for developed economies to advance.

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Why are Trusts Important?

“Death is not the end. There remains the litigation over the estate.” -Ambrose Bierce-

Trusts are often an integral part of our clients’ estate plans.  These fiduciary arrangements are a cost-effective vehicle for leaving a legacy and, at times, minimizing unwanted estate-tax consequences.  Yet to many they remain something of a mystery.

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Berkshire Hathaway Shareholder Letter – 2017

“I’ve seen more people fail because of liquor and leverage – leverage being borrowed money.” -Warren Buffett-

In his latest Shareholder letter, Warren Buffett, one of the greatest leaders of our time, talks about his dislike for borrowing. He openly admits that his aversion to leverage has at time dampened the returns of his conglomerate, Berkshire Hathaway. He notes that extraordinarily cheap debt fueled purchase activity last year. Read More

Downturns & Recoveries

“The stock market is a device for transferring money from the impatient to the patient.” -Warren Buffet-

Expansions and contractions in the equity and fixed income markets should be expected.  Nevertheless, many investors fear the downturns and the effect these declines may have on their overall investment objectives

In conjunction with Morningstar, we have prepared the following presentation to help you better understand how markets have traditionally responded, following a pull-back.  These slides are part of our on-going commitment to client education.

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2018 Quick Tax Facts

“…but in this world nothing can be said to be certain, except death and taxes.” -Benjamin Franklin-

Despite the obvious wisdom of Benjamin Franklin that has transcended centuries, we would like to make one addition – change.

Every year our tax code, which is quite extensive, undergoes a revision. Some of the changes are a result of inflation adjustments. Some are at the hands of Congress. And others are a direct result of administrative amendment by our friends at the IRS. Read More

Berkshire Hathaway Shareholder Letter – 2016

“Money is always there, but the pockets change.”
-Gertrude Stein-

In his latest Shareholder letter, Warren Buffet – admiringly known as the “Oracle of Omaha” and the architect-in-chief of Berkshire Hathaway, one of the world’s most prolific conglomerates – asserts that no one should ever bet against America. In only 240 years, Americans have built and fine-tuned an economic machine that has allowed its citizens to amass wealth totaling $90 trillion.
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2017 Quick Tax Facts

“Death, taxes and childbirth! There’s never any convenient time for any of them.”
-Margaret Mitchell, Gone With the Wind

Convenient or not, taxes are a reality that we must all accept. They are dues – our individual contribution to infrastructure, services, and security.

But the taxes we pay are never static. The parameters – from the marginal income tax rates to what is and is not deductible – can change annually.

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CAM Market Commentary Q3 2016

“I’m optimistic about the country; I’m optimistic about the American people.” -Howard Schultz-

Despite an unusually antagonistic and polarizing General Election campaign, equity markets remained relatively calm through much of the Third Quarter 2016, despite underlying concern over the possibility of a rate hike. As the quarter began, lingering anxiety over the June 24th Brexit vote was soon replaced with intense scrutiny of the Federal Reserve.

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CAM Market Commentary Q2 2016

“Whenever you find yourself on the side of majority, it is time to pause and reflect.” -Mark Twain-

After an unusually rough start, equity markets have reached new highs in 2016, thanks in large part to Central Bankers around the world, who remain overwhelmingly committed to keeping interest rates “lower for longer”.

The hurdles have been many.  First, growth has been limited and in some sectors non-existent.  Energy, which often signals future growth or decline, has been extremely volatile.  Business investment has decreased.  China, the world’s second largest economy experienced a significant pull-back.  British voters quite unexpectedly decided to pull out of the European Union, calling the long-term viability of the union into question.  Yet despite these obstacles, equity valuations have continued to climb relatively unabated.

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Tune Out the Noise and Stay the Course

“Stay the course. When thwarted try again; harder; smarter. Persevere relentlessly.” -John Wooden-

This is a nice overview by the American Funds to help long term investors tune out the noise and stay the course during a presidential election year.

As the battle for the White House heats up, candidates are drawing attention to the challenges facing the nation — everything from economic instability to immigration.

But while it might seem like we’re living in highly troubled times, tumultuous events have been a constant theme for presidential elections throughout history.

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