Brown Advisory

OCTOBER 16, 2017

Family Wealth Transfer Options achen Mon, 10/16/2017 - 10:49 Families can use a variety of strategies to reduce their estate tax burden. By using various exemptions and exclusions, you can gift a certain amount of assets to your family members without triggering gift taxes, thereby reducing the size of your taxable estate.

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Taxes Assets Estate Planning Valuation 52

Brown Advisory

OCTOBER 16, 2017

Mon, 10/16/2017 - 10:49. Families can use a variety of strategies to reduce their estate tax burden. By using various exemptions and exclusions, you can gift a certain amount of assets to your family members without triggering gift taxes, thereby reducing the size of your taxable estate. Family Wealth Transfer Options.

Taxes 52

Taxes Assets Estate Planning Valuation 52

Brown Advisory

MAY 3, 2018

The tax-exempt status of municipal bond income has helped to mitigate price erosion when rates rise, as each dollar of interest earned from a municipal bond is worth more to many buyers than a dollar of taxable income. These steps contributed greatly to our relative performance in 2017, particularly in the fourth quarter.

Taxes 52

Taxes Portfolio Valuation Clients 52

Brown Advisory

MAY 3, 2018

The tax-exempt status of municipal bond income has helped to mitigate price erosion when rates rise, as each dollar of interest earned from a municipal bond is worth more to many buyers than a dollar of taxable income. These steps contributed greatly to our relative performance in 2017, particularly in the fourth quarter.

Taxes 52

Taxes Portfolio Valuation Clients 52

Brown Advisory

AUGUST 1, 2019

Indeed, a Roth conversion has the potential to generate greater wealth than a traditional IRA during an individual’s or couple’s lifetime, and it can play a meaningful role in providing tax advantages to heirs throughout their lifetime as well. RMDs from a traditional IRA are taxed as ordinary income.

Planning 52

Planning Distribution Taxes Accounting 52

Brown Advisory

AUGUST 1, 2019

Indeed, a Roth conversion has the potential to generate greater wealth than a traditional IRA during an individual’s or couple’s lifetime, and it can play a meaningful role in providing tax advantages to heirs throughout their lifetime as well. RMDs from a traditional IRA are taxed as ordinary income.

Planning 52

Planning Distribution Taxes Accounting 52

Brown Advisory

AUGUST 1, 2018

We tend to be strategic rather than tactical in our approach to investing, but a combination of recent fundamental developments and valuation changes has caused us to add a note of caution in conversations with clients and in the management of their portfolios. From an economic perspective, growth in the U.S. Concentration: Much of the U.S.

Management 52

Management Investing Investments Valuation 52

Brown Advisory

AUGUST 1, 2018

We tend to be strategic rather than tactical in our approach to investing, but a combination of recent fundamental developments and valuation changes has caused us to add a note of caution in conversations with clients and in the management of their portfolios. From an economic perspective, growth in the U.S. Concentration: Much of the U.S.

Management 52

Management Investing Investments Valuation 52

Darrow Wealth Management

MARCH 24, 2024

6 tax strategies for incentive stock options and AMT Triggering the alternative minimum tax isn’t the end of the world, but you don’t want to do it by accident. Exercise ISOs early in the year to manage or avoid AMT To get long-term capital gains tax treatment, you need to hold ISOs through the end of the year of exercise.

Taxes 59

Taxes Tax Planning Planning Financial Advisor 59

Brown Advisory

MAY 31, 2017

EUROPEAN RE-ENTRY: Why We Are Shifting Portfolios Toward European Stocks achen Thu, 06/01/2017 - 02:47 Asset allocation—at least for us—is an exercise in nuance. Most investors look at price-to-earnings (P/E) ratios as their gauge of stock valuation, and by this metric, the disparity between Europe and the U.S. is much clearer.

Portfolio 52

Portfolio Asset Allocation Valuation Economics 52

Brown Advisory

MAY 31, 2017

Thu, 06/01/2017 - 02:47. Throughout this period, we often saw windows in which we believed that European valuations were more attractive, but we were cautious due to Europe’s high debt levels and struggles to generate economic growth. stocks as of the end of 2015 on an EV/EBITDA basis; that gap widened to 20% by the end of April 2017.

Portfolio 52

Portfolio Asset Allocation Valuation Economics 52

Trade Brains

JULY 23, 2022

In Crores) Company 2017 2018 2019 2020 2021 2022 Revenue ? The company has managed a low PE compared to its peers in the industry promises a fair valuation despite the meteoric rise. Tax reduction. Reduction in custom and import duties taxes on the raw materials and Capex investment push by Government in the budget 2022.

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Manufacturing Government Investing Investments 52

The Irrelevant Investor

NOVEMBER 20, 2018

In August 2017 I wrote "This will be my last post on the CAPE ratio." But the idea that you can use valuations as a way to time the market is probably not going to work for most people most of the time. I made it 16 months, which means I pretty much kept my word. This sent me back to the drawing board.

Marketing 52

Marketing Marketing Investing Investments 52

ClearMoney

DECEMBER 5, 2021

Gox Bitcoin Customers Could Lose Again,” Reuters, November 16, 2017. The UK Financial Conduct Authority cited a number of concerns as it prohibited the sale of “cryptoasset” investment products to retail investors last year. Nathaniel Popper, “Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes,” New York Times , January 12, 2021.

Commission 52

Commission Retail Distribution Sales 52

Dear Mr. Market

MARCH 17, 2024

EOG is poised to breakout and trades at bargain valuation of about nine times earnings (relative to the S&P at 23 times earnings and a touch under the overall energy sector of 12 times earnings). That said, it loses early in round one simply due to us believing it’s close to full valuation and due for a breather.

Investing 105

Investing Investments Portfolio Assets 105

Brown Advisory

JANUARY 17, 2024

Both types of error are due to a combination of either mis-assessing the business quality or its valuation (or both). Our 10/10/3 valuation framework using a 10% weighted average cost of capital is undoubtedly conservative and ends up with us missing some big opportunities as type 2 errors of omission.

Investing 52

Investing Investments Portfolio Compliance 52

Brown Advisory

OCTOBER 16, 2017

Building A Portfolio To Offset Position Risk achen Mon, 10/16/2017 - 11:53 For years, our firm has built equity strategies that fit squarely into traditional style boxes, like “U.S. Tax considerations may outweigh the risk of the position losing market value, and other factors may also come into play in the decision to hold the position.

Portfolio 52

Portfolio Clients Risk Tolerance Taxes 52

Brown Advisory

OCTOBER 16, 2017

Mon, 10/16/2017 - 11:53. Tax considerations may outweigh the risk of the position losing market value, and other factors may also come into play in the decision to hold the position. Building A Portfolio To Offset Position Risk. For years, our firm has built equity strategies that fit squarely into traditional style boxes, like “U.S.

Portfolio 52

Portfolio Clients Risk Tolerance Taxes 52

Brown Advisory

JANUARY 1, 2023

Download it here > Dear Fellow Investors, If we had to sum up 2022 in one word it would be valuation. War, inflation, recession, deglobalisation, decoupling, strikes, crypto-crash and energy (crisis) all featured but for us the overriding focus for 2022 was valuation. which was greater than our -1.1% relative underperformance.

Investing 52

Investing Investments Valuation Clients 52

Brown Advisory

MAY 10, 2018

After an unnaturally serene 2017, volatility roared back into equity markets this year, fueled by worries over interest rates, inflation, tariffs and data privacy. imports of washing machines and solar panels (see chart below) in 2017 accounted for approximately 0.4% trillion in imports in 2017) and an even smaller slice of U.S.

Economy 52

Economy Portfolio Clients Sales 52

Brown Advisory

MAY 10, 2018

After an unnaturally serene 2017, volatility roared back into equity markets this year, fueled by worries over interest rates, inflation, tariffs and data privacy. imports of washing machines and solar panels (see chart below) in 2017 accounted for approximately 0.4% trillion in imports in 2017) and an even smaller slice of U.S.

Economy 52

Economy Portfolio Clients Sales 52

Brown Advisory

NOVEMBER 12, 2015

As 2015 comes to a close, we remind our clients and friends of how important it is take time to review new tax rules, consider tax-saving opportunities and review investment and asset-protection plans before year’s end. In this letter, we outline a number of tax-saving and other opportunities to consider before the close of the year.

Planning 52

Planning Taxes Distribution Medical 52

Brown Advisory

JULY 19, 2017

A Moment of Zen: The Wisdom of Staying Invested achen Wed, 07/19/2017 - 15:28 When discussing the merits of cash as an investment, Warren Buffett doesn’t pull his punches, saying that those who hold cash or its equivalents “have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.”

Investing 52

Investing Investments Portfolio Clients 52

Brown Advisory

JULY 19, 2017

Wed, 07/19/2017 - 15:28. Valuations of the U.S. Today, we hear the word “unprecedented” far too often, referencing everything from stock valuations, to the U.S. between 1979 and 2017, and then compared those results to cash returns over the same periods to see how often the balanced portfolio outperformed cash.

Investing 52

Investing Investments Portfolio Clients 52

The Big Picture

FEBRUARY 27, 2023

equity valuations: “Baby-boomers’ huge flow of 401K plan contributions helped to drive equities higher; now that ~70 million Boomers are retiring, when do demographics flip this from a huge positive to a net drag?” This demographic cohort is simply not a seller due to retirement – the tax expenses would be too great.

Distribution 319

Distribution Retirement Retirement Planning Taxes 319

Brown Advisory

AUGUST 14, 2023

At the margin, the factors can be a tailwind as experienced in 2017 and 2018 or a headwind as seen in 2016 and 2022, but when we look at attribution over the past three years in the chart below it shows over 100% of the strategy’s alpha came from individual investment selection or stock-picking as the factors combined were a net negative drag.

Investing 52

Investing Investments Portfolio Accounting 52

Brown Advisory

AUGUST 24, 2017

Thu, 08/24/2017 - 15:12. As noted above, private real estate valuations generally only change according to periodic property appraisals, whereas REITs, like stocks and bonds, are subject to open-market volatility. *We A Solid Foundation: The Value of Private Real Estate in Balanced Portfolios. Source: Thomson Reuters.

Portfolio 52

Portfolio Assets Clients Management 52

Brown Advisory

NOVEMBER 1, 2019

This year, two factors will be important considerations in our year-end planning work: 1) current market dynamics (specifically, ongoing market volatility, low interest rates and a flat yield curve), and 2) the 2017 tax overhaul and our ongoing integration of new tax rules into clients’ long-term plans. Non-Taxable Gifts.

Planning 52

Planning Taxes Clients Estate Planning 52

Brown Advisory

NOVEMBER 28, 2017

Balancing Act | A Stroll Down Hindsight Lane achen Tue, 11/28/2017 - 14:27 Market downturns and recessions may seem easy to predict. Well, we believe that broader economic fundamentals are important for long-term stock valuations. Finally, note that taxes and transaction costs are additional hurdles that market timers must overcome.

Economy 52

Economy Clients Economics Management 52

Brown Advisory

NOVEMBER 28, 2017

Tue, 11/28/2017 - 14:27. Well, we believe that broader economic fundamentals are important for long-term stock valuations. Finally, note that taxes and transaction costs are additional hurdles that market timers must overcome. Balancing Act | A Stroll Down Hindsight Lane. Market downturns and recessions may seem easy to predict.

Economy 52

Economy Clients Economics Management 52

Walkner Condon Financial Advisors

FEBRUARY 6, 2024

Large Caps outperformed Developed ex-US stocks in every year but two (2017 and 2022). The only exception was 2017, when Emerging Markets was the top performer (37.28%), Developed ex. I could pull out some socio-economic Jenga pieces that include the high valuation of the U.S. In each of those instances, U.S.

Assets 59

Assets Investing Investments Marketing 59

Brown Advisory

JUNE 21, 2017

Investment Perspectives - The Great Debate achen Wed, 06/21/2017 - 12:35 Aside from some current political and economic topics that dominate the financial media, the most widely debated investment issue today involves the merits of passive investing, or indexing. Reasons for this tendency are varied.

Investing 52

Investing Investments Portfolio Management 52

Brown Advisory

JUNE 21, 2017

Wed, 06/21/2017 - 12:35. On the upside, active managers are often reluctant to overweight or “chase” the leading stocks in the market because those stocks typically sell at premium valuations. It underperformed primarily during very strong markets, as might be expected given its discipline with regard to valuations.

Investing 52

Investing Investments Portfolio Management 52

Brown Advisory

MARCH 30, 2018

Throughout 2017, our meetings and conversations with clients very frequently focused on the topic of risk. Economic growth and corporate earnings across the world improved notably throughout 2017, led by an acceleration in Europe, a rebound in emerging markets and improved sentiment in some U.S. Fri, 03/30/2018 - 11:57.

Asset Allocation 52

Asset Allocation Portfolio Assets Valuation 52

Brown Advisory

MARCH 13, 2018

Further, 2017 overall was extraordinary for its lack of market volatility; the S&P 500 Index rose steadily throughout the year without so much as a 3% pullback—a first in the Index’s long history. For most of 2017, the VIX was exceptionally depressed, signaling that investors expected very little volatility in prices.

Investing 52

Investing Investments Economy Assets 52

Brown Advisory

MARCH 13, 2018

Further, 2017 overall was extraordinary for its lack of market volatility; the S&P 500 Index rose steadily throughout the year without so much as a 3% pullback—a first in the Index’s long history. For most of 2017, the VIX was exceptionally depressed, signaling that investors expected very little volatility in prices.

Investing 52

Investing Investments Economy Assets 52

Brown Advisory

AUGUST 25, 2017

Manager Q&A: Mick Dillon and Bertie Thomson, Global Leaders Strategy achen Fri, 08/25/2017 - 11:34 Indeed a host of macro-economic and political events have impacted global markets since Mick Dillon and Bertie Thomson launched the Brown Advisory Global Leaders strategy. In our view, this decline presented a great valuation opportunity.

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Management Valuation Financial Services Investing 52