I’m Sorry, Dave. I’m Afraid I Can’t Do That

I’m Sorry, Dave. I’m Afraid I Can’t Do That Our title is the iconic line from Stanley Kubrick’s 1968 sci-fi masterpiece: “2001: A Space Odyssey”. For those who are not movie buffs, the artificial intelligence in the HAL 9000 computer goes haywire and the astronauts are forced to attempt to disconnect HAL, but HAL has […]
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IRS Releases Standard Mileage Rates for 2023

IRS Releases Standard Mileage Rates for 2023 Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes for 2023. However, the standard mileage rates for medical and moving expense purposes remain the same for 2023. […]
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Open Door Policy

Open Door Policy China’s Zero-Covid policy could not last forever, but the suddenness of the reversal was unexpected. China’s doors are opened once again. The initial reaction is one of optimism for global economic growth, but hurdles remain. If we have learned anything about Covid, it is that once released, it spreads quickly. The Lunar […]
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Bottom’s Up!

Bottoms Up! In his classic 1934 book “Security Analysis”, Benjamin Graham, the father of value investing (and a mentor to Warren Buffet), said something to the effect that in the short run the stock market is a voting machine, but in the long run, it is a weighing machine. Eighty-nine years later, that comment still […]
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What Do You Think?

What Do You Think? Our inboxes are full of market and economy projections for 2023, most of which are completely worthless. In early December, 2021, Reuters ran a story with this opening line: “The S&P 500 will gain 7.5% between now and the end of 2022 to finish at 4,910, driven by earnings and economic […]
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New for 2023 – Secure Act 2.0

New for 2023 – Secure Act 2.0 As part of the $1.7 trillion omnibus spending bill, changes are coming to retirement plans beginning next year. The idea is to get more people to save more for retirement, which is a good thing, but be careful, saving too much in retirement accounts can have a downside, […]
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CNBC Worldwide Exchange Interview | December 20, 2022

An earnings recession still isn’t priced into the market | CNBC Worldwide Exchange Interview Phil Palumbo of Palumbo Wealth Management expects another down move in the market, but says you have to step in as a long-term investor.   Palumbo Wealth Management (PWM) is a registered investment advisor. Advisory services are only offered to clients […]
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