In 1994 a legendary wall street bond trader launched a new hedge fund with $1 billion in assets, recruiting several top traders, two future Nobel prize winners and several PhD’s from MIT. In its first three years the fund posted… Read More
Uncertainty surrounding the answer to the question, “Will I have enough?” is a large source of anxiety for many people nearing retirement age. Even exceptional savers often wonder if they will have enough, if their level of spending is sustainable,… Read More
The defense sector consistently generates high returns on equity and invested capital and Northrop Grumman is no exception. And the defense sector has a history of consistently returning large amounts of capital back to its shareholders. Over the last 10… Read More
The Covid19 induced recession of 2020 led to the strongest fiscal and monetary policy response in history. The stimulus was global in nature, and has likely set the world up for a significant boost to growth in the years to… Read More
Looking back over the last year reminds us why our 5th and final core investment principle is: “you cannot predict the future”. Hindsight analysis suggests the Federal Reserve induced liquidity, low interest rates, and massive fiscal stimulus were the reason… Read More
Perhaps no picture better represents the financial impact of Covid than that of the 10-year Treasury yield. While rates have remained below 3% for most of the last decade, the post Covid drop below 1% for the first time ever… Read More
AMM 3rd Quarter 2020 Client Letter Imagine a modern day Rip Van Winkle had imbibed a bit too much on New Year’s Eve 2019 and fell into a long 6 month slumber. He awakens to a strange new world. People… Read More
We want to call your attention to important changes made pursuant to the SECURE Act passed in 2019 and the recently passed CARES Act. These new provisions provide several benefits to retirees and retirement savers, as well as some potential pitfalls. Perhaps most… Read More
You make most of your money in a bear market; you just don’t realize it at the time. -Famed value investor Shelby Davis. The COVID19 induced market panic led to the quickest Bear Market (loosely defined as a drop of… Read More
If you have been following the news over the last few weeks, then by now you are aware that 1) there is a novel coronavirus spreading around the globe, and 2) global stock markets have been selling off as a… Read More
Many people do not have to worry about heirs paying taxes on their estate. This is because the federal exemption amount is currently $13.61