James Hendries

JANUARY 13, 2023

These lessons learned from 2022 are particularly important for 2023 since FOMC members expect rates in 12 months to be higher than what investors are currently expecting. And on the asset allocation side, the team’s preference for value stocks throughout the year turned out to be a win. Caveat emptor.

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Discipline Funds

DECEMBER 20, 2023

Calculate your 2023 after tax income and expected after tax 2024 income. Compare this to your 2023 expenses and expected 2024 expenses. Asset Allocation and Goals. We are big advocates of time based asset allocation. 2023 was a great year for risk assets. Prune the fat in your portfolio.

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Financial Planning Planning Asset Allocation Retirement Planning 73

James Hendries

JULY 13, 2022

Increased equity exposure in tactical asset allocation from 62% to 65%. Reduced low duration core bond allocation and increased allocation to small cap equities. The Strategic and Tactical Asset Allocation Committee (STAAC) changed its recommended asset allocation for July, shifting from core bonds to small cap equities.

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Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

MARCH 6, 2023

Higher interest rates are challenging stock valuations and perhaps pushing the gains further out in 2023, but we still see solid potential for double-digit returns for stocks this year. Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).

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Marketing Marketing Economy Economics 52

James Hendries

SEPTEMBER 27, 2022

The LPL Research Strategic and Tactical Asset Allocation Committee is increasing its recommended interest rate exposure in its tactical allocation from underweight to neutral. Securities and advisory services offered through LPL Financial (LPL), a registered inv estment advisor and broker -dealer (member FINRA/SIPC).

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James Hendries

AUGUST 15, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) made no changes to its recommended asset allocation for August. The LPL Research S&P 500 year-end fair value target range remains 4,300—4,400, based on a price-to-earnings ratio (PE) of 18-19 and an earnings per share (EPS) forecast of $235 for 2023.

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Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

NOVEMBER 22, 2022

in May or June of 2023. In this week’s Weekly Market Commentary, we explore historical equity and fixed income market performance surrounding a Fed pivot, including the prospect for solid stock performance in the back half of 2023. Marc Zabicki , CFA , Chief Investment Officer, LPL Financial . Conclusion.

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Marketing Marketing Valuation Asset Allocation 52

James Hendries

NOVEMBER 15, 2022

The Strategic and Tactical Asset Allocation Committee’s (STAAC) S&P 500 year-end fair value target of 4,000-4,100 is based on a price-to-earnings ratio of 17.5 times the STAAC’s 2023 S&P 500 earnings per share forecast of $230. Click here to download a PDF of this report. IMPORTANT DISCLOSURES.

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Portfolio Taxes Government Investment Advisor 52

James Hendries

OCTOBER 7, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) upgraded its view of duration to neutral. times the Committee’s 2023 S&P 500 earnings per share forecast of $230. Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC).

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

SEPTEMBER 8, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) downgraded its view of emerging market (EM) equities in August. The LPL Research S&P 500 year-end fair value target range remains 4,300— 4,400, based on a price-to earnings ratio (PE) of 18-19 and an earnings per share (EPS) forecast of $235 for 2023.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

DECEMBER 4, 2022

In this week’s Weekly Market Commentary we share insights on publicly traded retailers, analyze their underperformance year to date, and look forward to 2023. Risks are rising for 2023 as consumers are likely tapping credit and personal savings to keep up spending habits. 12/2023).

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James Hendries

NOVEMBER 15, 2022

However, the debate is heating up as investors begin to consider whether the pendulum will swing back to growth if inflation and interest rates decline in 2023. The LPL Research STAAC continues to favor a tilt toward value from an asset allocation perspective. Value vs. Growth – Value Takes 2022.

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Marketing Marketing Asset Allocation Valuation 52

James Hendries

AUGUST 15, 2022

The economy needs a stable and productive workforce to handle tighter financial conditions and growing uncertainty about 2023. We won’t predict a soft landing, but there is a plausible scenario where a mild recession comes in 2023, the S&P 500 does not retest its June 2022 lows, and stocks are nicely higher in a year. Conclusion.

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Marketing Marketing Economy Valuation 52

James Hendries

JULY 6, 2022

Interest rates have only come down because of recession fears, while inflation will still be elevated—even if somewhat lower—when the calendar turns to 2023 (unfortunately). As a result, we believe a price-to-earnings ratio of 18-19 on 2023 S&P 500 earnings estimates is reasonable. So a P/E over 20 is probably too rich.

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Marketing Marketing Valuation Economy 52