A somewhat understandable mistake made by investors is to interpret average return as typical return. These things are quite different. The above chart illustrates the annual returns of global stocks dating back to 1995. The average return is 9%/yr as illustrated by the grey dashed line. Notice, however, that individual annual returns were as high [...]
In Oliver Stone’s Wall Street the character of Lou Mannheim was expertly played by Hal Holbrook. Should any less have been expected from such a phenomenal actor? The character was written as a seasoned veteran and included in the film to impart wisdom on the young and relatively inexperienced. Here are a couple of his [...]
IRA owners in mandatory distribution status need not take their Required Minimum Distributions for tax year 2020. The waiver is part of last week’s legislative action taken by Congress and signed into law by the President to provide fiscal stimulus during the COVID-19 crisis. Governmental logic (not meant as an oxymoron but…) is that without [...]
The current COVID-19-induced economic and financial shocks aside there are some fascinating trends developing in the United States with equally fascinating socioeconomic implications. OBSERVATIONS People are angry. It isn’t hyperbole to suggest the country has never been more divided at any other point in time but for the issues of slavery and states’ rights in [...]
Now that the noise has died down (a bit) we've opted to say a few words.
As follow up to the March 17th announcement of a three-month reprieve to pay 2019 income taxes the IRS has issued Notice 2020-18 extending the deadline for the filing of returns. Previously returns were due on/before April 15th despite the additional time allowed for payment.
Treasury Secretary Steven Mnuchin announced Tuesday that taxpayers will get a three-month reprieve to pay their 2019 income taxes as part of the federal government’s coronavirus response. Returns, however, must still be filed by the traditional April 15th deadline. Filers will have 90 days to pay income taxes due on up to $1 million in [...]
The year was 1994: The Shawshank Redemption, Pulp Fiction, The Lion King and Forrest Gump were some of the top grossing films. ER and Friends debuted making Thursday night “must see TV” on NBC. Yahoo and Amazon were launched. Richard Nixon died. Kurt Cobain committed suicide. O.J. Simpson was arrested and charged with murder. Major [...]
Do you consider yourself calm and rational? Cool under pressure? Master of your domain? Think again. According to Harvard professor Gerald Zaltman we make 95% of our decisions emotionally and subconsciously. It’s after we’ve made decisions that we try to rationalize them with logic. Luxury goods are a prime example. The manufacturers of luxury goods [...]
Imitation is the sincerest form of flattery. Nice quote. Here it is in full: Imitation is the sincerest form of flattery that mediocrity can pay to greatness. Oscar Wilde I’m not about to suggest that I’m great or that Apollo clients are mediocre. I will admit, however, that it’s flattering when clients use my quotes. [...]