The U.K., the Netherlands and Australia have recently established new rules that will ban commissions on popular investments like mutual funds with a view to eliminating hidden charges. Competent, professional investment advice has value. After all, a difference of just 1% in annual returns amounts to approximately $180,000 over a ten-year period on an original … Continued
Earlier this week Louis Chenevert, CEO of United Technologies (UTX), was interviewed at the Paris Air Show. UTX is the manufacturer of the Pratt and Whitney airplane engines as well as the Sikorsky Helicopter. Chenevert was very bullish on the airline industry for the next one to two decades! When pressed on the reasons for … Continued
In order to enhance my grasp of global economic issues, I subscribe to a newsletter service called Stratfor. Many large corporations and government agencies are also subscribers because the company’s analysts are former military or intelligence personnel and their perspectives are often unique and valuable. I consider the owner of Stratfor, George Friedman, to be … Continued
A recent Wall Street Journal article reported one of many challenges China is facing: fast-growing numbers of elderly people. By 2015 there will be 220 million people older than 60 years old in China, compared with about 180 million today. According to the projections from the National Bureau of Statistics, within 40 years China will … Continued
This is only one of the hundreds of clever, and sometimes accurate, snippets of wisdom that populate the investment spectrum. Also, currently timely would be “June Swoon” and “Summer Rally”. In fairness, there is generally some historical basis for most of this type of “wisdom”. For example, on average, since 1950, substantially all of the … Continued
Many homeowners are starting to feel the positive effects of an early recovery in housing prices. In fact, the widely-followed S&P/Case-Shiller Home Price Index, which is one of the broadest measures of national home prices, was up more than 10% for the 12 month period ending March 31, 2013. For most prospective homebuyers, the process … Continued
I have received several calls and emails from friends and clients of late asking if, at a level of 15,000 on the Dow Jones Industrials, the stock market has gotten ahead of itself. Certainly, measured from the trough in March of 2009, equities generally, and the Dow specifically, have more than doubled in price. That’s … Continued
I woke up this morning with some great news about a client of mine who is a professional athlete (he gave me permission to share). He has been called up to the Major Leagues! This in itself is quite a feat, but his circumstances make it even more extraordinary as he is pitching with a … Continued
At JP Morgan Chase’s annual meeting tomorrow, shareholders will be given the opportunity to vote on whether the roles of Chairman of the Board and Chief Executive Officer should be held by the same individual. Quoting from an article published by American Banker on May 15, 2013, William Isaac states the following: “…much of the … Continued
Having just returned from a voyage that included a stop at Gibraltar, I was reminded of just how dependent the world is on ocean traffic and the existence of several major, potential choke points, such as Gibraltar, Suez and the Straits of Hormuz. The US, accounting for more than 20% of the world’s goods and … Continued
During a recent portfolio review with one of my clients, she asked me why she didn’t have to pay any taxes last year even though her portfolio had substantially increased in value. She said the income and gains reported on her tax return were minimal. She was expecting a large tax bill given the portfolio … Continued
The most recent Presidential proposal to raise tax revenue once again targets the two percent. But does it? The proposal would cap the tax exemption at 28%; for those in higher brackets income derived from municipal bonds would be taxed for the percent their tax bracket is above that waterline. For example, consider someone who … Continued
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