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Investment Research Since 1978

Archives for May 2016

Retirement State: Which States have the Highest Estate or Inheritance Tax?

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There’s a lot of reasons for New Englanders to retire to Florida or New Hampshire. From the Tax Foundation: In addition to the federal estate tax of 40 percent (which is fourth highest in the OECD), many U.S. states levy their own estate and inheritance taxes.  Estate taxes are charged against the estate regardless of who inherits the assets, while inheritance taxes are levied on the transfer of assets to heirs, based on the relationship of the inheritor to the deceased. In the case of inheritance taxes, spouses, children, or siblings often have different exemptions and experience … [Read more...]

Risk On?

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Despite warnings from Federal Reserve governors and presidents that rates hikes are imminent, both the NASDAQ and Russell 2000 indices popped this week. … [Read more...]

Worthy Reads: Oil Prices Poised to Hit Sweet Spot

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Oil Prices Poised to Hit Sweet Spot (WSJ) This 116-year-old woman dispensed fantastic advice about life and money (MarketWatch) Once Bullish, Miners Turn Bearish on Metals Prices (WSJ) Miami’s Condo Frenzy Ends With Inventory Piling Up in New Towers (Bloomberg) China’s Finance Ministry Sells Debut Offshore Renminbi Bond (WSJ) In Stunning Reversal, IMF Blames Globalization For Spreading Inequality, Causing Market Crashes (ZeroHedge) Farm Belt Banks Tighten Credit as Delinquencies Rise (WSJ)   … [Read more...]

Meet the One Person Every Business in the World Needs

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Happy Memorial Day Weekend. Time for remembrance. Time for summer. Time to get to work. When I was a kid I had three different jobs: a paper route, cutting lawns, and scooping ice-cream. One person I met at all three was, “the customer.” At the first job, the paper-route, I didn’t see the customer every day, but I would if I missed a house, got bit by their dog, was late, or needed to collect money. At the second job, cutting lawns, I’d see them if I missed a spot, got stung by a bee from their bee box or needed to collect money. And at the third-one, scooping ice-cream, there was a never … [Read more...]

Jimmy Buffett’s: A Pirate Looks at 40

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Make sure you have a chance to appreciate where you’re going and where you’ve been. Jimmy Buffett put on a pop-up show Monday in Austin, TX in preparation for his summer tour “I Don’t Know”. A client of mine is driving up to Nashville, TN for tonight’s sold-out show at the Ascend Amphitheatre. Here’s a great video of Buffett and Jerry Jeff Walker. Walker (Mr. Bojangles) was the person who gave Buffett refuge in Coconut Grove, FL after he fled Nashville. It was in Walker’s Packard that they drove to Key West for Buffett’s first visit. It was there where they met Phil Clark, the “Pirate” in … [Read more...]

Worthy Reads: Corporate America Chases the Mythical Millennial

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Panama Canal Fever Sweeps Globe Again as New Era in Trade Nears (Bloomberg) Breakthrough Greek deal unlocks $11.5 billion in fresh bailout loans (MarketWatch) Oil at Seven-Month High as U.S. Stockpiles Drop (WSJ) Corporate America Chases the Mythical Millennial (NY Times) For First Time In 130 Years, More Young Adults Live With Parents Than With Partners (NPR) The Fed is cooking up a surprise move for the market this summer (CNBC) … [Read more...]

Hedge Funds Fail

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This week it was reported that Tudor Investment Corp., one of America’s most expensive hedge funds, will be cutting its very high fees from 2.75% of assets and 27 percent of profits to a still very high 2.25% and 25% respectively. Still much higher than most of the confiscatory fees one will find among hedge funds. After hearing this I recalled what Dick Young wrote in his Intelligence Report a couple months ago, Hedge Funds Fail. Hedge Funds Fail Given the above, it was with some astonishment that I read Tim Martin and Rob Copeland's recent Wall Street Journal exposé "Investors Pull Cash … [Read more...]