News

First Quarter 2019 Financial Markets

Evergreen Q2 2019, News
First Quarter 2019 Financial Markets: the environment should be conducive to gains in equity prices

The behavior of equity markets in the first quarter of 2019 was nearly the mirror image of the fourth quarter of 2018. Global equities rallied strongly with U.S. stocks leading the way, reversing the sharp U.S.-led downturn in the fourth quarter. After falling by -13.52% in the fourth quarter of last year and by -4.38% for all of 2018 including dividends, the Standard & Poor’s 500 Index returned +13.65% in the first quarter of 2019, its best quarterly return in ten years. The S&P 500 ended the quarter just 3.3% shy of its all-time closing high established on September 20, 2018.

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One & Twenty: Investment Horizons

Evergreen Q2 2019, News
One twenty - History would seem to be on the Fed’s side.

A long term investor usually has two time horizons in mind when thinking about investing – what will happen over the next twelve months (tactical) and what will happen over the next twenty years (strategic).  Tactical thinking should take into account liquidity needs over the next year, current fundamental or valuation concerns and/or a buying reserve for expected opportunities. The strategic is normally the easier question to answer because of market history.

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Active Vs. Passive Investing

Evergreen Q1 2019, News
Active Vs Passive Investing - We help our clients devise asset allocation and investment strategies

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. 

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Clean up Liquidity with a Taper, Powell

Evergreen Q1 2019, News
Clean Up Liquidity - In 2018, US economic growth accelerated

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.

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Tax Update 4: Rates Vs. Taxes Paid

Evergreen Q1 2019, News
Tax Update: Corporate income taxes are not direct taxes

Déjà vu on Marginal Tax Rates?

From 1940 to 1980 the United States highest individual marginal tax rate never went below 70%.[1]  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.”

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Unexpected Headlines in Equity Markets

Evergreen Q4 2018, News
Unexpected headlines - hedge funds nearing a bad 10-year streak

Keep Calm and Carry On in US Public Equity Markets

Here is a headline that you would not expect to see. Proudly for most Woodstock clients it shows how smart you are. “In the gloom that hung over the financial world in 2008, it would have been difficult to imagine US stocks were poised to embark on their longest bull run in history.

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Stay the Course – Our Strategy

Evergreen Q4 2018, News
Stay the Course - the stock market provides the best opportunity for investors

The S&P 500 Index was volatile in the first half of the year through June, and tallied returns that were a little better than break-even at the mid-year mark, +2.6%. The Dow Jones Industrial Average (DJIA) was slightly negative at -0.72%, and the tech-heavy NASDAQ Composite Index was the mid-point winner, up a strong 9.36%. In the third quarter markets accelerated in July and August before slowing in September.

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Tax Update 3-2-18 Opportunity Zone

Evergreen Q4 2018, News
Tax Update 3-2: It has excited the real estate industry and several specialized funds have already been formed.

What You Don’t Know About Social Security Could Hurt You

In discussing various tax advantaged programs with the next generation there is nothing as important as their understanding the US social security program. A recent article discussed what most Americans don’t know about social security.[1] The key idea is that you need to work to benefit: “monthly benefits are calculated based on your 35 highest years of earnings”.

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Tax Update: Tax Law Changes

News, News Archive
Woodstock Quarterly Newsletter / Summer 2018

There is current interest in the effect of the new tax law changes on investment fees. Before discussing deductibility, investment fees have always had to be justified. For assets managed at a firm like Woodstock, the ownership of individual equities, not in a pooled investment structure, allows the investment manager to use asset allocation, tax considerations and turnover, in other words use the levers available, to effectively save as much as the management fee might be.

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Why Are Longterm Interest Rates So Low?

News, News Archive

Woodstock Quarterly Newsletter / Summer 2018

The S&P 500 Index returned 2.65% through mid-year, recovering from its modest loss in the first quarter and remaining below its January high. Large capitalization internet and technology shares continued to dominate performance, with Alphabet, Amazon, Apple, Facebook, Microsoft, and Netflix accounting for 99% of the S&P’s modest gain.[1] Seven of the S&P 500’s current eleven sector classifications were down through mid-year.

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