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Money Manager Monthly |
WrapManager.com | Contact Us |
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March 2010 |
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MARKET COMMENTARY
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The "What If" Economy
By Gabriel F. Burczyk, President & CEO
 "What
If" seems to be the best tag line I can come up with for our near term
economic outlook. One fact I have humbly learned throughout my career is
that the market is and will always be smarter than most of us. Over my
25 years working with who I believe are some of the smartest and
brightest money managers in the world, I do not remember hearing such a
wide range of predictions for the next year. By listening to our
clients, I've learned of even more predictions for this year's outlook.
Both clients and money managers helped me coin our theme for 2010.
WrapManager's Themes for 2010
The
themes fall into four different camps: "Inflation is Coming," "V-Shaped
Recovery," "Slow but Growing," and the "Double Dippers." I am sure
there are others but these seem to be the loudest and most popular
themes for 2010. I feel that you will gravitate to at least one and
maybe more of the themes after you have finished reading this report. At
the end I will share my humble predictions for 2010. This makes it fun,
so let's get started. |
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MONEY MANAGER COMMENTARY
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Indicators Continue To Show Improvements
 Lord Abbett & Company
Lord
Abbett believes the evidence continues to come in that shows the
economic recovery is still intact. Retail sales are positive, the trend
in GDP growth is positive, industrial production continues to improve
and new orders are rising, and layoffs in the labor sector have
moderated.
Click here for full Market View, March 2010
 Churchill Management Group
Churchill
believes that the market may be in a current correction phase that may
last over the next few months. Their proprietary fundamental, technical,
and sentiment indicators are pointing towards an intermediate
correction in the markets.
Click here for complete Market Perspective, February 1, 2010
 Alliance Bernstein
Alliance
believes that the world economy continues to rebound from the
widespread recession, and that global growth in 2010 should approach 3.5
percent. They see government stimulus packages continuing to bolster
the rebound, consumption continuing to improve, the trend in global
manufacturing is positive, and the weak dollar is doing its job and
rebalancing capital flows and trade.
Click here for full Capital Markets Outlook, Winter 2009
 Fred Alger Management
Fred
Alger has a positive outlook on the markets and the economy as we head
into 2010. They believe corporate earnings should deliver solid results,
and the growth in GDP and other economic indicators should continue to
show improvements.
Click here for complete 2010 Market Outlook
Don't miss out on important manager commentary! Sign up for the latest email updates from Money Manager Research. |
TAX & RETIREMENT
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Estate Tax Lapse May Pose Liability For Descendants
 Many
clients are asking if they should have their estate planning documents
reviewed this year by an estate attorney. Due to the confusion of estate
exemptions and cost basis step-ups, many believe it may be necessary to
amend your trust and/or will to ensure your intensions are carried out.
Congress' abstentious attitude towards the estate tax issue could
result in the return of the higher 2001 estate and GST
(generation-skipping).
We believe Congress will act in the near
future, with many predicting that the 2009 45% maximum tax after a $3.5
million exemption will be reinstated. This would avoid reverting to the
old maximum 55% tax rate after a $1 million exemption. As the estate and
GST taxes for 2010 have been repealed, any changes would become active
in 2011. In addition, 2010 marks the first year where assets do not
receive a step-up in cost basis to the date of death value. The original
cost basis will apply instead.
Many estate documents were
crafted with certain assumptions that may change as a result of these
issues. Discussing the potential changes with your estate planner will
help ensure your assets are distributed according to your wishes and
with as little difficulty as possible for your heirs.
Give WrapManager a call today at (800) 541-7774 or email info@wrapmanager.com to speak with one of our Wealth Advocates about your current estate and financial arrangements. | |
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The
attached report and information have been prepared or produced by
WrapManager, Inc. from sources and data believed to be reliable.
Information provided in this report is for educational and illustrative
purposes only and should not be construed as individualized investment
advice, as an offer to sell, or the solicitation of an offer to buy any
security in any states where such an offer or solicitation would be
prohibited by regulations. WrapManager, Inc. is not a tax advisory firm.
We recommend you contact your tax attorney or CPA prior to utilizing
any of the tax-related strategies mentioned or discussed. Returns and
experiences will vary for each client. Each client's risk tolerance and
investment objectives are unique to them. Past performance may not be
indicative of future results. No assumption that future performance of
any specific investment or product made reference to directly by
WrapManager, Inc., on its Web site and in marketing materials, will be
profitable or equal the corresponding indicated performance level(s). If
performance numbers are generated gross of fees, a client's return will
be reduced by investment advisory fees and any other expenses. Opinions
expressed are those of WrapManager, Inc. and are subject to change
without notice and are not necessarily those of Prospera Financial
Services, Inc., its directors, parent company or its affiliates.
Securities offered through Prospera Financial Services and cleared
through First Clearing, LLC. Prospera Financial Services - Member
FINRA/SIPC. © 2010 WrapManager, Inc. (800) 541-7774 | info@wrapmanager.com | www.WrapManager.com |
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