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Stock Market Records Mean Little to Most Americans

Takeaways from the above: more than half of American households own no stock roughly 1/3 maintain indirect ownership and with the rise in passive strategies (i.e. indexing) have endowed giants like Vanguard with enormous voting power over corporations Now consider the following:   60% of American families combined own less than 2% of stock wealth [...]

Denial Isn’t Just a River in Egypt

It’s a poor joke but it seems appropriate given data released yesterday by the Hartford Funds. A decade after the deep financial crisis the majority of survey respondents said there was no impact upon their lives.  Really?  Wow! And yet... 42% of respondents reported that they avoid investing in financial markets 46% have altered their [...]

Highlights of House Tax Proposal

Yesterday members of the House of Representatives announced their version of income tax reform.  The Senate is expected to offer its own version as early as next week. Assuming each passes without changes (and that’s a big assumption) there will still likely be changes as the legislation moves through the reconciliation process before being presented [...]

An Apolitical View of the Tax Reform Debate

Much is being made of the Administration’s tax reform proposals.  It’s the usual politicized rhetoric.  Democrats argue it’s a tax cut for the rich.  Republicans argue a small percentage of taxpayers pay a large percentage of taxes so, logically, the largest portion of a tax cut will benefit those paying the most taxes. Been there, [...]

Warren Buffett Reminds Us Smart People Can Do Stupid Things

In an interview with CNBC the Oracle of Omaha disclosed that his investment vehicle (Berkshire Hathaway) is delaying taking profits in anticipation of a tax cut. Right now we're sitting and watching because within three months, actually less than that, we'll know the answer on it . . . I would feel kind of silly [...]

Tell Them What They Want To Hear

Should a financial relationship be about doing what’s right or feeling good?  The former, right?  Not so fast. A survey by index zealots DFA found the #1 thing valued in receiving financial guidance is a “sense of security / peace of mind.”  Not that that’s a bad thing of course but at 35% of respondents [...]