In recent weeks, the stock market has experienced increased volatility and pullbacks, particularly in the software and technology sectors, as investors digest information regarding how recent updates from Anthropic may impact the broader software landscape and whether AI spending by the Magnificent Seven will be fruitful. I thought this would be a good time to review key behavioral principles...
Building on the robust performance through Q3, U.S. equity markets delivered modest gains in Q4 2025 amid sector rotation and a cooling in mega-cap technology momentum. The S&P 500 Index1 advanced by 2.3% during the quarter, bringing its full-year 2025 return to 16.4%. While enthusiasm for the mega-cap AI trade cooled in Q4, the Nasdaq Composite Index2 nonetheless ended the quarter up 2.6%...
Since 2000, medical care prices have jumped 121.3%, while overall consumer prices rose just 86.1%, according to the Peterson-KFF Health System Tracker. In plain English, healthcare costs have been rising far faster than general inflation for more than two decades. And if recent months are any indication—with premiums and out-of-pocket costs continuing to climb—there's little reason to expect...
Talking with clients over the last few months, I've noticed a recurring theme: concerns about higher medical premiums and expenses! The United States has one of the highest per capita costs for health care expenses, and yet we don't seem to be getting the best and most reliable care from our healthcare institutions. As Congress faces another potential shutdown and a decision to be made regarding...
Building on the momentum from the prior quarter, equity markets delivered another strong performance in Q3 2025, with all major U.S. indices posting robust gains and setting new record highs. The S&P 500 Index1 and Nasdaq Composite Index2 advanced by 7.8% and 11.2%, respectively, during the quarter, extending their year-to-date (through 9/30/25) gains to 13.7% and 17.3%. This continued rally...
On November 13, 2025, the IRS announced the Cost of Living Adjustments (COLAs) affecting the dollar limitations for retirement plans for 2026. In October, the Social Security Administration announced a modest benefit increase of 2.8%. Retirement plan limits also increased over the 2025 limits. COLA increases are intended to allow participant contributions and benefits to keep up with the “cost...
The One Big Beautiful Bill Act (OBBBA) has brought sweeping changes to federal tax law. Some are permanent, others temporary. The changes affect both individuals and business owners. This article breaks down what you need to know and, more importantly, what you should consider doing before year end to take advantage (or avoid surprises) For clients we have begun to do year-end tax planning with,...
With the enactment of the One Big Beautiful Bill Act in July 2025, Congress introduced a new class of tax-advantaged savings vehicles for minors known as Trump accounts. Here's a breakdown of the key features. What are they? Trump accounts are custodial savings and investment accounts that can be established for U.S. children under age 18 to encourage long-term financial security. Contributions...
The One Big Beautiful Bill Act (OBBBA), signed into law in July 2025, includes multiple provisions that affect higher education. Key changes include new borrowing limits for students and parents under federal loan programs, streamlined student loan repayment plans, stricter rules on the ability of borrowers to pause student loan repayment, the promotion of workforce training programs, expanded...
Over the past several years, news reports have grown more intense about the precarious global supply of rare earth minerals. Yet outside scientific and national security arenas, many people may not fully understand the importance of rare earths. What are these mysterious materials and why are they receiving so much attention? Essential elements of everyday life Scientifically speaking, rare...
At the age of 94, Warren Buffett recently announced his retirement as CEO of Berkshire Hathaway, the massive holding company he has controlled since 1965.1 Buffett is a venerated investor due to his financial success and long track record of stock market outperformance. The value of Berkshire Hathaway shares grew by 19.9% per year (annualized) over the six decades from 1965 to 2024, compared...
After a challenging start to the quarter, marred by a tariff-induced sell-off in the first part of April, equity markets staged a remarkable turnaround in Q2 2025. After bottoming out on April 7th, both the S&P 500 Index1 and Nasdaq Composite Index rebounded strongly, surging by 28.3% and 37.8%, respectively, to close out the quarter, reaching new all-time highs in the process. This largely...
Each year, the Trustees of the Social Security and Medicare trust funds provide detailed reports to Congress that track the programs' current financial condition and projected financial outlook. These reports have warned for years that the trust funds would be depleted in the not-too-distant future, and the most recent reports, released on June 18, 2025, show that Social Security and Medicare...
It is unclear if anyone would have expected the equity market to be touching all-time highs if you had told them the economy would be navigating 15%-ish effective tariff rates. Let’s see what August brings. A notoriously difficult month to predict given thin liquidity. Here are 3 things you need to know: U.S. ‘tech-ceptionalism’ made a comeback with the NASDAQ (+3.7%) posting 14 record highs in...
On July 4, 2025, President Donald Trump signed the “One, Big, Beautiful Bill” (OBBB) into law, introducing major updates to the U.S. tax code for 2025 and 2026. Politicians on both sides of the aisle have developed a habit of bundling major legislation into large, complex bills to appeal to a wide range of constituents, from moderates to hardline conservatives. They then use budget...
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