This week, CEO Eric Boyce, CFA discusses: 1. Stocks have moved higher over the long term despite variations in price/earnings multiples 2. S&P 500 index is inherently different from even 10 years ago; volatility and intra-year drawdowns are absolutely normal and can lead to generous long term returns if one is patient and diligent 3. the power of long term compounded return and diversification - stocks versus bonds and cash; stocks have considerably more volatility than bonds 4. The importance of being diligent on monitoring inflation - trends in service inflation, wages provide dilemma for Fed on interest rates 5. Boom in infrastructure spending, notably data centers 6. Surge in new business applications bodes well for entrepreneurship 7. Big opportunity in offshore Asia private credit and private equity
This week, CEO Eric Boyce, CFA discusses: 1. The slowing in the labor economy due to tariffs, etc. 2. 2nd quarter GDP reflected reversal from 1Q - real read through is slowdown in final sales to private domestic purchasers 3. In 25 years, persons over 55 yrs of age own 20% more of the total household assets...implications for wealth planning and transfer 4. Potential implication on long-term interest rates from increased deficits from OBBBA 5. Second quarter earnings stronger than expected; profit margins holding steady amidst increased tariffs 6. Updates on housing starts/sentiment, consumer financial health, PMI data, consumer sentiment
On July 4th Donald Trump signed the One Big Beautiful Bill Act (OBBA), a law which extended many of the tax code changes made in the 2017 Tax Cuts and Jobs Act (TCJA) and added new provisions that will impact many of our clients. The bill totals a whopping 870+ pages so I’ll try to be as concise as possible. Lets begin with the extension of tax breaks. The TCJA reduced federal tax bracket rates in 2017 and those lower rates were set to expire at the end of 2025. The OBBA made permanent the reduction in federal tax brackets. Below is a comparison of what rates would have been post TCJA without this permanent extension.
This week, CEO Eric Boyce, CFA discusses: 1. Stocks have moved higher over the long term despite variations in price/earnings multiples 2. S&P 500 index is inherently different from even 10 years ago; volatility and intra-year drawdowns are absolutely normal and can lead to generous long term returns if one is patient and diligent 3. the power of long term compounded return and diversification - stocks versus bonds and cash; stocks have considerably more volatility than bonds 4. The importance of being diligent on monitoring inflation - trends in service inflation, wages provide dilemma for Fed on interest rates 5. Boom in infrastructure spending, notably data centers 6. Surge in new business applications bodes well for entrepreneurship 7. Big opportunity in offshore Asia private credit and private equity
This week, CEO Eric Boyce, CFA discusses: 1. The slowing in the labor economy due to tariffs, etc. 2. 2nd quarter GDP reflected reversal from 1Q - real read through is slowdown in final sales to private domestic purchasers 3. In 25 years, persons over 55 yrs of age own 20% more of the total household assets...implications for wealth planning and transfer 4. Potential implication on long-term interest rates from increased deficits from OBBBA 5. Second quarter earnings stronger than expected; profit margins holding steady amidst increased tariffs 6. Updates on housing starts/sentiment, consumer financial health, PMI data, consumer sentiment
On July 4th Donald Trump signed the One Big Beautiful Bill Act (OBBA), a law which extended many of the tax code changes made in the 2017 Tax Cuts and Jobs Act (TCJA) and added new provisions that will impact many of our clients. The bill totals a whopping 870+ pages so I’ll try to be as concise as possible. Lets begin with the extension of tax breaks. The TCJA reduced federal tax bracket rates in 2017 and those lower rates were set to expire at the end of 2025. The OBBA made permanent the reduction in federal tax brackets. Below is a comparison of what rates would have been post TCJA without this permanent extension.
