Portfolio Rebalancing
Below are our key conclusions when considering rebalancing as part of an overall investment management: At the beginning of most of our relationships people rightfully ask “how do you manage our investments?” In response, we try to provide an in-depth discussion of our philosophies and our beliefs about best practices in portfolio management. While much […]
Understanding Private Equity: Opportunities and Considerations
Understanding Private Equity: Opportunities and Considerations For many physicians, private equity has become part of everyday conversation, whether through a practice acquisition, a colleague’s group merging into a larger platform, or an investment opportunity presented as a way to diversify beyond stocks and bonds. But what private equity actually offers, and what it demands in […]
Federal Reserve Leaves Rates Unchanged
Last week, the Federal Reserve voted to leave the federal funds rate unchanged at 3.75%, where it has remained throughout 2026. While the broader trend since early 2024 has been toward lower interest rates, recent inflation data has led many members of the Federal Open Market Committee to take a more cautious approach before implementing […]
A Tale of Two Chairs
If you tuned in to the most recent Federal Open Market Committee (FOMC) press conference in June, you may have noticed the grey-haired man with his customary purple tie did not step up to the podium as he has for the last eight years. Jerome Powell’s term as Chair of the Federal Reserve ended on […]
Upcoming Mega-IPOs: SpaceX, Anthropic, and OpenAI – Index Inclusion and Investor Implications
Upcoming Mega-IPOs: SpaceX, Anthropic, and OpenAI – Index Inclusion and Investor Implications SpaceX had its IPO last week. Anthropic (maker of Claude) has filed for as early as October, and OpenAI (maker of ChatGPT) is preparing a filing targeting Q4 2026. These companies carry enormous valuations. SpaceX is already valued at approximately $2.2 trillion […]
A Narrow Strait, A Wide Impact
With war now underway involving Iran, investors are understandably asking what matters most and what simply makes headlines. While attention naturally gravitates toward military developments, markets are focused on something far more practical: the Strait of Hormuz. This narrow passage connecting the Persian Gulf to global shipping routes carries roughly one-fifth of the world’s oil supply […]
How Should Investors View AI?
As financial planners and investment managers, it is imperative to recognize that artificial intelligence (AI) is poised to be one of the most transformative forces in the global economy over the next 5 to 10 years. According to Goldman Sachs, AI investment is projected to approach $200 billion globally by 2025, underscoring its rapid […]
Two Ways to Combat Household Inflation
Inflation is not a one-size-fits-all all phenomenon Inflation is the increase in prices over time Increasing prices means decreasing purchasing power How we choose to spend our money dictates how we experience inflation Inflation has been top of mind for every participant in our economy for three years straight: households, businesses, and policymakers. Inflation […]
The End of an Era – What We are Watching For in ‘24
For many years until the last, investors had been living under the same mantra of “There Is No Alternative” (TINA) to owning equities, helping prop up stock prices as yields on fixed income were too paltry to bother with. Times have changed; TINA ushered out and TARA welcomed in. Positive real rates are achievable, meaning […]
Asset Allocation Factors: Time and Emotion
When we meet with a new client, one of our tasks is to determine an appropriate asset allocation for the funds they invest. At a very basic level, the question we are trying to answer is “what percentage of the investment portfolio will be comprised of equities (stocks), and what percentage will be fixed-income (bonds)?” […]
Corporate Strategy: Trick or Treat?
Corporate strategies can tell opposing stories about a firm’s future Key Takeaways: Earnings season has seen growth companies downgraded amid rate hikes CEO’s actions must be weighed by investors at a firm-specific level Layoffs, buybacks, CapEx, debt, & dividends each contribute to firm outcomes We are in the middle of third-quarter earnings […]
How Much Cash Should I Hold?
Key Takeaways Rising inflation increases the opportunity cost of holding cash We believe the benefits of cash outweigh any loss in purchasing power Market drawdowns like today are relatively good times for long-term investment The question we are getting more than any other these days is, “What should I do with […]