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We routinely publish news, information and insights to keep our clients informed while also deepening their understanding of a variety of wealth management topics.

The Overlooked and Misunderstood Details of Estate Planning

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Emotionally processing the death of a loved one, especially a partner, is difficult enough without the added stress of managing financial and other affairs after death.  There are a lot of details to manage in the most common and stable situations, which can easily multiply due to past divorce or same-sex marriages, or any other situation for which existing laws and paperwork do not make things easy.  There is much to think about, plan for, and manage before and  after someone dies, and we have listed some of the things that we see frequently and that some of our recently…

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What Happens When the Fish Outgrow the Tank?

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“The stock market is not the economy.”  Maybe you’ve heard this before, as any time the economy seems to be struggling but the stock market isn’t we are reminded that these two things are not synonymous.  However, they are related to enough of an extent where when one is doing well or poorly, we generally expect the other to follow suit.  It’s practically guaranteed that the stock market will rebound before the economy does during recessions, but how long can company stocks outperform the economies in which they exist, and what could the consequences look like? To understand why the…

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More Cowbell!

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Saturday Night Live fans may remember the skit where Bruce Dickinson (played by Christopher Walken) helps Blue Oyster Cult nail the recording of their hit “The Reaper”. It’s a great cast of actors in this bit, but Gene, played by Will Farrell, has the leading role in his struggle to inject just the right amount of cowbell into the song. After a number of abrupt breaks in recording initiated by the lead singer, who grows increasingly agitated by the incessant banging behind him, Christopher Walken (in the character of Bruce Dickinson) in his one-of-a-kind delivery first proclaims “I gotta have…

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Ask Cadence: Are you optimistic for 2021?

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Yes. 2021 has the potential to be a very interesting year for a host of reasons. First, the risks and uncertainties: Covid-19 – We just don’t know how quickly the majority of people will get vaccinated and subsequently get back to a more normal existence. In addition, there are unknowns in terms of new variants and the effect they will have on the number of infections and severity of illness. Most are assuming that some semblance of normalcy will return for the second part of this year, but we just don’t know how the course of events will play out…

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How To Play With Fire

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Everyone knows the expression “playing with fire” is a way to say someone is engaging in risky behavior, and it is frequently implied the consequences of that behavior could be particularly painful.  Yet, we couldn’t live without fire, be it a furnace, or an oven, or even a nice fire in the fireplace on a chilly winter night that makes the season’s weather tolerable, if not downright cheerful.  We couldn’t live without fire, yet playing with it is how we describe overly risky behavior. Volatility in an investment portfolio can be useful like the properly controlled fires we use on…

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Our View of Things

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Before getting into a fairly high-level overview of markets as we see them, we thought it worth commenting on a few more socio-macro themes. Not only do these things matter because they affect our day-to-day lives more directly than markets, but they ultimately create the landscape in which markets function. First, and we’ve commented on this quite a bit, the rift between the haves and have-nots is increasing at an accelerating rate. Regardless of one’s politics, it should be clear as day that people seem more uneasy, stressed, and in some cases just plain angry than was the case 1,…

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Taking Control

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As we draw closer to wrapping up a very trying and difficult 2020 and continue to face tremendous uncertainty around the presidential election, social unrest, job security, life, markets, etcetera, the famous quote from Charles Swindoll comes to mind: “Life is 10% what happens to you and 90% how you react to it.” It’s times like these when it’s important for us to remember this and try the best we can to live it. Part of this message refers to the importance of attitude in dealing with challenges, while the other form of “reaction” is the choices we make in…

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The Mathematics of Negative Returns – Why Avoiding Large Losses Matters

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“Buy low, sell high”.  Everyone’s heard of that one.  In fact, we’ve probably all heard it so much we no longer have to think about the math behind it, we just *know* that means you’ve made money.  There are some things you don’t even have to think about any more, you just feel them.  “Your average income tax rate is not the same as your marginal income tax rate”.  That one requires a little more thought, but yes, it makes sense; only the amount of taxable income that falls in the highest marginal bracket is taxed at that rate; the…

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Don Those Earmuffs!

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“Americans can always be trusted to do the right thing once all other possibilities have been exhausted.” – Quote often ascribed to Winston Churchill If there’s one thing most can feel good about these days, it’s the fact that the process of trying “all other possibilities” to keep corporations and the economy afloat is in full swing, which in turn probably means we’re that much closer to getting to a viable long-term solution that benefits most. As touched on in last month’s letter, the “right thing” will likely only come after all these other easier, less painful possibilities have been…

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Don’t Let the Possible Overshadow the Probable

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We have written many times how when it comes to planning and investing, human brains are the biggest hindrances to the owners of those brains. The possibility of large investment gains is so seductive, especially with financial news programs showcasing stocks that have absolutely taken off and investors who have made obscene amounts of money from large moves. Even our friends and acquaintances at times seem eager to share the bets they’ve made that paid off. It’s easy to think of the possibility of large gains if enough money were put in the right place. However, the financial news programs…

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