Global Positioning Systems: Recalculating …

Tony Roth |
Investment Management

Our 2018 forecast for markets, economies, and portfolios.

The U.S. economy — late-cycle emergence
Inflation and growth — global-U.S. divergence
Valuations, yields, and volatility — alternative resurgence

Signs points to the U.S. economy being near or in a late (or pre-recession) stage, yet stock market valuations are elevated and inflation is inexplicably soft. Our investment team shares its outlook for the U.S.


Senate Version of Tax Bill Aims to Raise Tax Revenues from First-In, First-Out Share Sales

Clement K. Miller, CFA |
Wilmington Wire

December 5, 2017— The Senate tax bill contains a provision that would force individual investors to use first-in-first-out (FIFO) tax treatment for sales of the shares of most stocks.  Markets have risen substantially in recent years, making management of taxable gains an important consideration in delivering after-tax returns to investors.


The Delaware Tax Trap

Richard W. Nenno |
Wealth Planning

This article reprint was published in Volume 40 of the Tax Management Estates, Gifts and Trusts Journal and provides an overview of the federal tax laws known as the Delaware Tax Trap, including:A review of the Trap’s history.How to spring and not to spring the Trap, and  when to spring and not to spring the Trap.A summary of how the Trap works under current Delaware law and how it works under the laws of some other states.