Jailed for selling an annuity! The number of times I have seen annuities inappropriately used in investment portfolios for clients who subsequently hire me is mind boggling. This is not to say that all annuities are poor investment vehicles, nor that all who sell them are criminals, but there has been a fair amount of … Continued
What do you get when you trap four middle-aged, baseball-loving friends (three liberals/progressives – a real estate lawyer from Michigan, a general practice lawyer from Washington DC, and a pediatrician from Chicago, and one conservative – that would be me, an investment advisor from Michigan) in a car for a several hours, traipsing across Florida … Continued
Every year, about this time, I am asked about my thoughts on the Tigers going into the new season. I typically say they are going to win the World Series because I am the ultimate optimist and I have Tiger blood running through my veins! Well this year is a little different because I now … Continued
The upside of foreclosure; an unintended temporary stimulus to the economy? An article in this weekend’s Barron’s magazine highlighted several interesting foreclosure statistics. At the end of 2011 nearly 1.9 million homes had some sort of foreclosure filing activity. In addition to the sheer number of foreclosures, legal issues with regard to robo-signing have slowed the … Continued
While I follow several economic and financial related publications, this week John Mauldin’s e-letter, titled ‘Unconsidered Consequences’, contemplated intriguing and timely observations regarding the proposed debt resolution issue facing the Greek government and the role of the European Central Bank (ECB). Below are a couple excerpts that caught my eye. “As noted above, ECB financing, … Continued
A recent article released by the Associated Press has led to some interesting discussions among Sigma colleagues and clients. The article, which can be referenced here, was a Q&A done with David Stockman, a former Michigan congressman, Director of the Office of Management and Budget under President Reagan, and successful private equity investor discussing his … Continued
That is a decision that each individual needs to consider and it is not the purpose of this blog to make that decision for you. Perhaps an analogy might be helpful. Modern commercial aviation has been described as seemingly endless periods of utter boredom, punctuated by moments of total panic. It is easy to believe … Continued
We at Sigma believe that understanding inflation is an important element in effectively managing our client portfolios. In the that regard, we note that according to the latest Bureau of Labor Statistics report, consumer prices in January increased 2.9% over the past 12 months. At approximately the same time, J. M. Smucker Co. announced that … Continued
Many (most) of my blogs during the past few years have centered on government policy. For each, my colleague Marisa Lenhard, CFA, CFP® (who is incredibly bright and well informed) will ask me, “How does that relate to our clients’ investments?” While it seems intuitively obvious to me, just the fact that she asks the … Continued
2008 Democratic primary debate in Philadelphia, April 16, 2008: on Tax Reform Barack Obama: Raise capital gains tax for fairness, not for revenue Q: You favor an increase in the capital gains tax, saying, “I certainly would not go above what existed under Bill Clinton, which was 28%.” It’s now 15%. That’s almost a doubling … Continued
Below is a recent internal email conversation that took place amongst a few of our investment professionals. This thread may prove interesting to those who are also pondering possible ‘fixes’ for the Eurozone’s current money woes. If you have any further thoughts or comments, please feel free to share! From: Robert Bilkie, Jr. Thinking out … Continued
At the onset of the Great Depression, a loss of confidence among bank depositors would often lead to bank runs. Because banks only held a fraction of their overall deposits in reserves (with the majority having been lent out), even the slightest rumor of a bank’s potential insolvency became a self-fulfilling prophecy. As a result, … Continued
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