For those fortunate souls who have not succumbed to the Siren’s call that is the game of golf, a Mulligan is basically a free “do-over.” The term “mulligan” represents an opportunity to have a second chance to do what you wish you had done from the start. In the world of federal income taxes, there are not many chances at a mulligan.
The first half of 2024 was strong for global risk assets as many investors believed in the “goldilocks” narrative for the markets. US economic growth was strong, inflation continued to make progress lower, and there was an unquenchable thirst for “AI” related stocks, which seemed to go up every single day, regardless of the macro or micro news flow.
Many investors and financial advisors treat the notion of tax loss harvesting as an event
that should be done once a year in December, like the payment of taxes in April (or
October) or the administration of a required minimum distribution from an IRA.
In theory, the turn in a calendar year should have no impact on market trends or leadership, yet it always amazes us how each year develops its own unique characteristics and storylines. Since COVID, the investment landscape has been unique. Various aspects of the economy seem as desynchronized as they have been at any point in modern times.
MBL Advisors was named by SmartAsset as one of the 100 Fastest Growing RIAs out of over 15,000 SEC-Registered Investment Advisors (RIAs) in the industry. SmartAsset explained their data and methodology for the rankings.
In closely held businesses owned and operated by multiple individuals, buy-sell agreements are a common way to address a variety of business succession issues. Usually contained within the governing instruments of the business (e.g., the Operating Agreement of an LLC), they allow the owners to express their goals with respect to future transfer of business interests institutionally.
A policy research strategist we revere often refers to different parts of legislation as “candy” and “spinach.” Candy and spinach refer to tax cuts and revenue raisers, respectively. The idea is that legislators (like children) have to eat their spinach before they can have any candy.
Since the last time we formally wrote in mid-December, there have been some significant changes to the investment landscape. Most notably of course is that we recently experienced the largest bank failures since the Great Financial Crisis.
Good afternoon, the failure of Silicon Valley Bank shook markets last week as investors try to comprehend the uncertainty of this situation for the entire banking industry. It’s a tragic situation for those involved. We have listed several thoughts below.
Every December Wall Street strategists partake in their annual ritual of forecasting where the S&P 500 will be a year from now. To be fair, this is somewhat of a thankless exercise as capital markets simply do not allow investors to be this precise.
