“There will come a time when you believe everything is finished; that will be the beginning.”
- Louis L'Amour
A year of macro and geopolitical shocks with sharply higher global rates has many asset classes derated, with equity valuations the obvious example. Many would be surprised to learn profits in aggregate have grown this year despite the volatility. A backdrop full of inconsistencies, skepticism, and, we suspect, opportunity. Encouragingly, sentiment remains historically bearish and better seasonal trends seem to be continuing with November registering the second consecutive month of strong gains. We remain guarded, but optimistic. As always, we defer to our technical, fundamental, and macro disciplines to assess the risks and guide our outlook. Click to read the full December BakerAvenue Prudence Indicator (BAPI) commentary and view the market update video from BakerAvenue’s Chief Investment Officer, Doug Couden, CFA.
Many are familiar with the concept of gifting to younger generations as an appealing and tax-efficient method of transferring assets. However, upstream gifting, a strategy in which the younger generation gifts appreciated assets to the older generation, can oftentimes capture even more significant tax savings.
Before you start planning for 2023, review important considerations for your financial plan and ensure you are fully leveraging tax strategies for this year. View our checklist, "What Issues Should I Consider Before the End of the Year?" to assess issues such as tax and estate planning, insurance planning, and cash flow.
Since 2004, BakerAvenue has guided clients through personal and professional transitions. Our firm provides comprehensive wealth management and investment expertise for high-net-worth individuals, families, trusts, foundations, and endowments.
Driven by our purpose, we strive to make a positive impact on society alongside financial return. We’re headquartered in San Francisco with offices in New York, Dallas, Seattle, San Diego, and Sun Valley.
BakerAvenue is a registered investment advisor regulated by the SEC whose mission is to protect investors and maintain the integrity of the securities market. Under the strict SEC rules, our registered investment advisors have a fiduciary duty to our clients, and it is a moral and legal obligation to place our clients' interests ahead of our own.
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