Below is a list of our most recent newsletters, if you would like to view any of our archived newsletters, please click here.
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 […]
In early June 2022, the Dow 30 Industrial Average was near its lows of around 30,000. For the next two and a half months, equities rallied, and the Dow reached approximately 34,000 in mid-August. Since then, we have been correcting with a sobering punch last Friday of a 1000 point down day for the Dow […]
The first six months of this year have been unpleasant from an economic view, but the last week has been a very positive one for the equity markets. Many people have difficulty understanding that markets move up and down in anticipation of the future. If the current news is negative, but the markets anticipate improvement […]
Basically, the start of 2022 has been difficult from the start. Both Equity and Bond prices have fallen, while inflation and interest rates have risen. The news on TV and social media is mainly negative and many of our clients wonder what will cause equity markets to move more positively in the hopefully near future? […]
Now that Elise is an integral part of Legacy Wealth Planning, we have chosen to alter our monthly letter to an email rather than a physical letter. We must keep up with the times and as Elise points out to me, the manpower and the environment (paper, envelopes, etc.) is better served by this change. […]
Stocks have gotten off to a very rocky start in 2022, with the potential for Federal Reserve rate hikes coming and the geopolitical worries over Russia and Ukraine only adding to the uncertainty. We don’t want to minimize the impact of that major geopolitical event, but there is some positive news out there, even though […]
It’s been a rough few weeks for the stock market. Fears of rising rates and the Federal Reserve pulling back its stimulus more aggressively than previously anticipated to fight high inflation have caused most of the market jitters, though earnings season—albeit in the very early stages—hasn’t helped either. The pain has been particularly acute for […]
Happy Holidays everyone! Winter has arrived in Reno with a bang and all the snow lovers are happy! Elise, my daughter, is finishing up her last licensing exam and expects to be here in the office with me to meet you all beginning in January. We are excited she is joining our Legacy Team! As […]
Retirement Planning
Asset Management
Education Planning