Market Review 2020: Looking Back on an Unprecedented Year
Democrats have officially secured two additional Senate seats in the GA runoff election, splitting the chamber 50-50 between Republicans and Democrats (including 2 independents that caucus with Democrats).
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Quarterly Topic: When It’s Value vs. Growth, History Is on Value’s Side
Sitting down with your advisor to discuss Tax & Estate planning can be stressful enough for most families. After all, not many are willing to recognize, let alone prepare for their own mortality.
Quarterly Topic: Long Term Investors, Don’t Let a Recession Faze You
In yet another failed attempt at discussing household financial austerity over dinner, my wife cleverly shifted the conversation toward the subject of government stimulus and spending.
With interest rates at all-time lows, estate planning techniques in vogue after that Great Financial Crisis are returning to favor by wealthy Americans that have exhausted or nearly exhausted their lifetime gift tax exemption.
In just one month, US Large Cap (S&P 500), International Developed (MSCI EAFE), and Emerging Market (MSCI Emerging Markets) stocks have managed to rally 30%, 23%, and 20% respectively off of their coronavirus driven March 52-week lows, following federal government and central bank-led stimulus measures, flattening coronavirus incidence rates across the globe, and a first look at the impact of foreign nations beginning to reopen their manufacturing and service economies.
Stock market slides over a few days or months may lead investors to anticipate a down year. But a broad US market index had positive returns in 15 of the past 20 calendar years, despite some notable dips in many of those years.
How do you eat an elephant? With daily briefings from the White House Coronavirus Task Force and state Governors, emergency meetings held by global Central Banks, and weekly conference calls from equity strategists and economists across the major Wall Street asset management firms, GDP and Earnings forecasts are being revised faster than information can realistically be consumed and properly analyzed by bottoms up investors.