As with many debates, the argument over “active” versus “passive” investing seems too simple. We’d actually like to highlight three investment categories, delineated by expected return. We think that we are the middle category of “passive” investors “actively” picking stocks.
Is the Stock Market More Volatile Due to Its Focus on Economic Conditions?
There has been no shortage of uncertainty lately. The Government partial shut-down, the US-China trade war, and Brexit have featured most prominently in the financial headlines. Rising interest rates and a weak stock market have only added to the worry that a greater market downturn could be around the corner.
Déjà vu on Marginal Tax Rates?
From 1940 to 1980 the United States highest individual marginal tax rate never went below 70%. We have been there before.
“When top rates were high there was always a large gap between the stated rates and what the highest earners actually paid as a percentage of their income.”