Posts by Peggy Stephan
Transition Planning
Like many people my age, I have parents in their early 90’s who are no longer able to live independently. Although it feels to them like an abrupt transition brought on by my mother’s stroke nearly three months ago, in fact the situation has been developing gradually. For many years, their four children have been…
Read MoreSilicon Valley Bank: A Perspective
We’re following the story of the failure of Silicon Valley Bank on Friday March 10. While this is the largest bank failure since 2008, it’s not that unusual for a regional bank to fail. Between 2016-2020 there were 16 bank failures, half of which occurred prior to the pandemic. SVB was a large player in…
Read MoreSustainable Capitalism
Larry Fink would like you to know that he’s a capitalist. He’s the founder and CEO of Blackrock, the world’s largest asset manager, so it makes sense that he would be. However, Mr. Fink has drawn criticism in the last few years for his annual letter to CEO’s, in which for the last several years…
Read MoreYear-end Charitable Gift Planning in 2021
In the last few years, so much has changed about charitable gift planning. We offer a bit of recent history on the changes, and suggest some strategies that may help you reduce your tax bill while supporting the charities of your choice. In 2018 the Tax Cuts and Jobs Act (TCJA) raised the standard income…
Read MoreLet’s Talk About Risk
By most measures we’re experiencing the longest bull market in our history, starting in March of 2009 and briefly dropping by 30% in March of 2020, before recovering after the shortest bear market ever. As a result, we’re sharing the marketplace with a generation of investors who have never experienced a protracted bear market. These…
Read MoreBack to School: Getting the Most from Your 529 Plan
If you have college-bound children or grandchildren, it’s worth learning about 529 plans. These tax-advantaged savings plan for college expenses are named for the internal revenue code section authorizing their use. 529 plans invest after-tax dollars, ideally to grow for several years before the funds can be withdrawn tax-free, if used for qualified education expenses.…
Read MoreDon’t Chase the Bus
“Never run after a bus or a stock. Just be patient — the next one will come along for sure.” André Kostolany André Kostolany was a Hungarian-born stockbroker who prospered during the reconstruction of Germany after WWII. He was known for his pithy insights into investors’ behavior, and his pragmatic understanding of the equity…
Read MoreCryptonite
As of this week the S&P500 is up 40% over the last year, and in the same time period Bitcoin is up over 300%. Why aren’t we all investing in Bitcoin? The recent volatility has shown us that it’s not a suitable investment for every portfolio. Part of Bitcoin’s recent wild ride can be attributed…
Read MorePayment for Order Flow –What is it, who does it, why it matters
The SEC defines payment for order flow (PFOF) as “a method of transferring some of the trading profits from market making to the brokers that route customer orders to specialists for execution.” This practice has been in the news lately, in part because of the recent scrutiny of trading practices at Robinhood – a firm…
Read MoreThe Investment Climate
Every year since the financial crisis of 2008-09, Laurence Fink, the founder and CEO of BlackRock, has written a letter to CEO’s. In this letter, the leader of the world’s largest asset manager outlines the priorities which his organization would like to see in the companies in which they invest. It’s a call to action,…
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