Evergreen Q3 2020

US Shines in Share of World Market Capitalization

Evergreen Q3 2020, News

Sometimes investment professionals offer this rather generic description of how they work: “we’re not market timers.” The kernel of truth is that it is very hard to make two good decisions regarding first, when to get out of the market and then second, when to get back in. Some stocks in the growth category are secular growth stocks, where “innovation can carry companies to growth almost independently of the economic or business cycle.”[1] On the other hand, value stocks, besides needing those two above-mentioned good decisions, “need an economic outlook conceptual framework over a multi-year forward time period to begin positing economic growth.”[2]

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One Part of Growth Investing

Evergreen Q3 2020, News

Sometimes investment professionals offer this rather generic description of how they work: “we’re not market timers.” The kernel of truth is that it is very hard to make two good decisions regarding first, when to get out of the market and then second, when to get back in. Some stocks in the growth category are secular growth stocks, where “innovation can carry companies to growth almost independently of the economic or business cycle.”[1] On the other hand, value stocks, besides needing those two above-mentioned good decisions, “need an economic outlook conceptual framework over a multi-year forward time period to begin positing economic growth.”[2]

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What Will the Recovery Look Like?

Evergreen Q3 2020, News

The S&P 500 Index performed a most spectacular “V” in the first half of 2020, first falling 33.9% through its March 23rd low, then rallying 38.6% through mid-year. This performance included the steepest plunge and the fastest rally in 90 years.[1] The wild ride left the market still down 8.4% from its February all-time high and down 4% from the beginning of the year. The index returned 20% in the second quarter. Stocks rallied, anticipating a treatment for COVID-19 and an economic recovery turbocharged by both fiscal and monetary stimulus.

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Tax Update

Evergreen Q3 2020, News

Remote Work and “Domicile”

If you and your family are handling estate tax planning by living in a low-tax state, then you’re familiar with “domicile,” the determination of a taxpayer’s true “home.” If your business operates in more than one state, then you are familiar with the term “nexus,” which can trigger state taxes depending on an evaluation of sales, physical location of offices, or even location of employees (“payroll”).

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