Below is a list of our most recent newsletters, if you would like to view any of our archived newsletters, please click here.
We want to thank our clients and friends that participated in our fundraiser event for “Scoot to the Stars” dog rescue charity here in Reno. We had a fun afternoon last Friday with the dogs in their wheelchairs and we really appreciate the generosity of the participants. Thank You! Now to the markets – Fourth […]
A positive January has historically been a bullish sign for stocks. Yale Hirsch, creator of the “Stock Trader’s Almanac”, first discovered this seasonal pattern back in 1972, which he called the January Barometer and coined its popular tagline of ‘As goes January, so goes this year.’ The evidence leans toward yes, as we explain. Isolating […]
The fourth quarter earnings season kicked off last week, and markets were generally left wanting more. That doesn’t necessarily mean this earnings season will be disappointing, especially considering the bar has been lowered so much. Plus, some of the disappointment was around special bank charges and November-quarter-end companies’ results were solid. This reporting period may […]
Here is the last paragraph from our newsletter last month: “Moving forward, LPL Research expects a strong job market, cooling inflation, the end of Fed (Federal Reserve) rate hikes, stable interest rates, and growing corporate profits to help stocks overcome these worries and keep this young bull market (a rising equity environment) going. And we […]
Thank you to all our clients who signed our recent Mariner Compliance letters and DocuSign emails. This was a big effort, and we are 98% completed with the process. As a reminder, on our clients’ end, there are no changes. It is only in our regulatory world that we at Legacy Wealth Planning will be […]
First, a reminder for clients. Our new Compliance Company, Mariner Advisor Network, has been mailing forms to you for signatures. Your signature simply acknowledges that we have hired Mariner to be our Compliance entity for Legacy Wealth Planning. We used to do this in house, but our growth has made this a larger effort, so […]
For our clients – Our advisory business (managed accounts) has grown dramatically in the past few years, and we are adding a new firm, Strategic Wealth Advisory Group (SWAG) / also known as Mariner Independent Advisor Network to assist us in compliance and operational support. Most of you are comfortable with email and DocuSign and […]
We are in earnings season once again. FactSet consensus estimates reflect a nearly 7% year-over-year decline in the second quarter earnings for the S&P 500, slightly worse than the 2% decline in the prior quarter. With the average upside historically around 3%, LPLs baseline expectation is 4% earnings decline for the quarter, meaning the earnings […]
Forecasting regime shifts are difficult for both public policymakers and private investors. The macro environment will likely experience a shift in the coming months as consumers retrench and businesses slow hiring. Despite emerging signs of slowing, the Federal Reserve (Fed) recently communicated a hawkish stance on the path of interest rates going forward and the […]
Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents. It hasn’t always been as adversarial as this one has become, but now, it seems apparent that an agreement, when it is […]
For background, market seasonality is premised on the adage of ‘history doesn’t repeat, but it often rhymes.’ The embedded assumption is the market exhibits seasonal patterns or cycles that ‘rhyme’ throughout history, or more specifically, when prices move in a recognizable pattern that occurs with some degree of consistency over a specific timeframe. These patterns […]
The Dow 30 Industrial Average is trading today at 33,787. The high, a little over a year ago was approximately 36,300, and the low a few months ago was just a few points above 29,700. I thought a little perspective would be helpful. The equity markets are hoping that if we see a recession, it […]
Yesterday morning, the Consumer Price Index (CPI) for All Urban Consumers was reported by the U.S. Bureau of Labor Statistics and the index rose 0.1% in November on a seasonally adjusted basis. Over the last 12 months, the all-items index increased 7.1% before seasonal adjustment. This compares with respective estimates of 0.3% and 7.3% – […]
The equity markets have risen quite a bit in the last month and interest rates have eased a little bit since our last newsletter in October. The yield curve between long- and short-term interest rates is still inverted. That means that short term interest rates (the 13-week Treasury Bill is currently paying 4.125%) are higher […]
What a difference a couple of days can make! Last Friday, the Dow 30 industrial Average closed down 500 points, closing at a new low for the year. Disappointing, at best. Monday the 3rd, the same Index closed up over 700 points and Tuesday the 4th, the Dow climbed over 800 points. That is a […]