Publications

  • On Wednesday, July 26, the Senate held a vote regarding the extension of the Bush-era income tax rates.  The current tax cuts, set under President Bush, are set to expire on January 1 of 2013, demanding a new tax deal to be secured by Republicans and Democrats in Congress by that date.  Both parties have been working on their own tax bills—Republicans offering an extension of all current Bush-era tax cuts, and Democrats allowing tax rates on income, capital gains, and dividends to rise for...
    Post date: 07/31/2012 - 8:00pm
    Category: Our Perspective
  • It’s probably not news to many people that the markets have been enduring a pretty rough couple of months.  The roots of it can be predominantly traced back to continuing problems in the euro zone, especially Greece, and the fear that has spread throughout the markets, sparing practically no sector or asset class. The latest story with the struggling country is the possibility of a “Grexit,” or Greek exit from the euro zone.  There is still much uncertainty surrounding the issue and how...
    Post date: 05/29/2012 - 8:00pm
    Category: Our Perspective
  • To be sure, the economy is still in healing mode.  As we wrote in our last update, although the domestic economy is performing at a higher level so far in 2012, when you consider how bad things were in 2008, we are still just working to emerge from the deep hole known as recession.  This is not to downplay the improvement we have seen thus far, but it is to remind our clients that 2012 will likely still be a rough year with low points and periods of slow or almost no growth.     That being...
    Post date: 03/08/2012 - 7:00pm
    Category: Our Perspective
  • Master Limited Partnerships, or MLPs, generally refer to publicly traded limited partnerships. As with any type of security, MLPs have their own unique quirks of which an investor should be aware before deciding what role they could potentially have in their portfolio.   Like a stock, an MLP “unit” share is a small piece of ownership of a business. However, whereas stocks are issued by corporations, MLPs can only be issued by businesses which are structured as certain types of partnerships....
    Post date: 02/14/2012 - 7:00pm
    Category: White Papers
  • Since the start of the New Year, the markets seem to have been in rally mode.  This is mostly due to short-term positive economic data combined with undervalued stock prices marking 2012 so far, both at home and abroad.  This kind of encouraging data will surely bolster the markets, at least short term.  We can’t deny that it has been a great way to start the quarter.   However, simultaneously to uncovering positive economic data this month, we have learned of less positive revisions to what...
    Post date: 02/05/2012 - 7:00pm
    Category: Our Perspective
  • In accordance with this summer’s debt deal, Congress’s 12-member super committee has been busy plugging away at the difficult task of creating long-term spending cuts for the United States. The formally titled Joint Select Committee on Deficit Reduction is staring its November 23 deadline square in the face, with no word of an official plan yet. A dozen Congress members have spent countless hours locked away in the Capitol, debating and arguing about which path to take in fixing the US budget...
    Post date: 11/14/2011 - 7:00pm
    Category: Our Perspective
  • October was a great month for the markets, with the S&P 500 rebounding by almost 11% after being down 7% for September. While the overall results for the month were positive, October’s markets were turbulent, with the Dow moving by over 100 points on all but 6 days.   While the many third quarter earnings releases coincided with the end of the month, the driving force behind the month’s volatility was the back and forth going on in the European Union as to how best to address the...
    Post date: 11/09/2011 - 7:00pm
    Category: Our Perspective
  • This is indeed a pretty complex topic. However, we are of the opinion that inflation is (in the words of Milton Friedman) "always and everywhere a monetary phenomenon"—too much money chasing too few goods. We do not believe that inflation is a near-term problem. While the money supply has grown in the form of banking reserves (through the various asset purchase programs, Quantitative Easing I & II), much of that money remains as excess reserves on deposit with the Fed. In other words, the...
    Post date: 10/23/2011 - 8:00pm
    Category: Our Perspective
  • Yesterday saw what can only be described as a precipitous drop in the stock markets:  The Dow dropped by over 400 points, and the S&P fell to its lowest point for the year.  With markets already reeling and battered by bad news, it can feel like we are going through another 2008.  While there are many reasons to worry, there are also reasons to think that this will be a soft patch, and a temporary setback rather than another crash: China is still experiencing an economic slowdown. Their...
    Post date: 09/22/2011 - 8:00pm
    Category: Our Perspective
  • This past month has been no stranger to bad news. From fiscal issues, to political hurdles, to economic woes, August saw it all—and we would be lying if we said we are not relieved to finally be turning our calendars to September. The month’s start was marked by worry surrounding the issue of the US debt ceiling. We watched as the government struggled to come to agreement over how to raise the debt ceiling before facing technical default. Even after a deal was reached, the frenzy did not go...
    Post date: 09/08/2011 - 8:00pm
    Category: Our Perspective

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