16
Jul
2025
Portfolio Insights
We are pleased to provide a digital copy of Portfolio Insights, our quarterly newsletter. Table of Contents: Stock Market Summary Bond Market Review Estate Planning, Beyond Taxes Inside the Economy: Tariffs Phone Phishing Scams The Big Picture Click here to read the issue: 2Q 2025 Portfolio Insights
14
Jul
2025
The One Big Beautiful Bill Act
The One Big Beautiful Bill Act is now law. It’s a 940-page document, and I haven’t read it, but my reliable tax sources are highlighting some of the key provisions for individuals that I thought you might find helpful. Before I get into the OBBBA (or OBBB or OBB; they’re still working on the acronym), it’s worth noting that Missouri Governor Mike Kehoe signed a bill that will eliminate individual… Read More
7
Jul
2025
Estate Planning – Who’s Who
The last two weeks focused on the core estate planning documents and why it’s a good idea to keep your documents in good order. This week, I will define the major players in the documents, hopefully putting some of the legal terms in plain English. Since this article will stand alone on our website, I want to state that I’m not a lawyer, Acropolis isn’t a law firm, this isn’t… Read More
30
Jun
2025
Estate Planning, Part 1.5
I always enjoy it when readers reply to these emails, and last week was particularly gratifying because several people said something along the lines of, “I’ve been meaning to do this for a while, and I’m going to call my lawyer this week and get it updated.” That’s great! I also heard from one of my favorite estate lawyers, Tim Yeaglin, the Co-Chair of Lewis Rice’s Estate Planning and Probate… Read More
23
Jun
2025
Beyond Taxes: Estate Planning Matters Enormously
When the federal estate tax exemption started climbing rapidly in the 2000s (and even went to zero for one year in 2010), an estate lawyer friend told me he was glad because estate planning shouldn’t be so focused on tax avoidance. “What do you mean?!?” I thought. I had always believed that tax savings were the main point of estate planning. And in 2002, when we launched Acropolis, the tax… Read More
16
Jun
2025
Let’s Talk About Stagflation
A few months ago, the term ‘stagflation’ was mentioned too casually and frequently, in my opinion. Investors were worried about the impact of a trade war, which is natural, but were too quick to go to “The S Word.” Stagflation is a portmanteau of stagnation and inflation, coined in the 1970s when economic growth was very low (and sometimes negative) and inflation was very high. The term stagnation was often… Read More
2
Jun
2025
Gold is Glittering Bright (maybe too bright)
It’s not surprising that clients are inquiring about gold, as it has risen 25.3 percent so far this year. When we started this business in August 2002, I thought gold was a terrible investment idea. However, in the 273 months since then, it has handily beaten foreign stocks and bonds, and even eked out a small win over the S&P 500. That’s right, during this time frame, gold gained 10.9… Read More
19
May
2025
Following the Tornado, Risk is on My Mind
On Friday, an EF-3 tornado hit St. Louis County and City. At least five people passed away, and thousands of homes were damaged, some beyond repair. Although the official National Weather Service report isn’t complete, initial reports suggest that the tornado likely formed in Clayton, moved northeast through Forest Park, DeBaliviere Place, Fountain Park, the Greater Ville, O’Fallon Park, and crossed the Mississippi into Illinois. My home is in DeBaliviere… Read More
12
May
2025
Graduation & Compounding
Many thanks to Ryan Craft for writing last week’s market summary. I couldn’t write last week at the last minute because my eldest child unexpectedly won an award from the English Department a day before graduation, and we had to change our travel plans. Graduation was so exciting – I couldn’t have been more proud. I’d been hoping for that day since before she was born, and within a month… Read More
28
Apr
2025
Public Markets Know that Private Markets are Volatile
For the past five or so years, I’ve been inundated with pitches from alternative investment managers for private investment funds. The flagship private market strategy is private equity, which includes private credit, private real estate, and infrastructure. Like public markets, these broad categories can be broken down further, but the basic point is that anything you can get in the public market is also available in the private market. A… Read More