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Weekly Market Review

Weekly Market Review

Good afternoon,

Thank you for the many positive responses to our new title, Guardian of the Wealth of the Most Productive People on the Planet. It seems that our readers like the description as much as we do, probably because our readers are indeed the most productive people on the planet.

The New England Patriots are very productive. They won the Super Bowl. Again. A very dull game, in our opinion, and while Tom Brady didn’t especially shine this time around, he did win. For the sixth time. He’s been in the NFL for 19 seasons, has been to the Super Bowl 9 times (47%) and has won 6 times (67%) and was MVP 3 times. Unbelievable stats without even considering his passes, yards, TDs, or his supermodel wife, etc.

Tom Brady = G.O.A.T. Discussion over.

So the S&P was up 8% in January, see attached for Market Update. There’s an old saying on Wall Street that “as January goes, so goes the rest of the year.” If that holds true, then 2019 should be decent for stocks. If you didn’t let the December downturn scare you away. Downturns happen. Corrections happen. Even bear markets happen. Sometimes for very valid reasons and sometimes for no reasons at all. Don’t let market swings dissuade you, or discourage you, from implementing your investment strategy.

Uncle Bernie is at it again. Bernie Sanders is proposing new estate taxes on the wealthy, as much as 77%.

Geez Bernie, what kind of incentive do you think that provides for entrepreneurs to create wealth? To paraphrase “Field of Dreams,” if you build it, the government will come and take it away. The WMR disagrees with the entire estate tax premise. Spend your whole life accumulating assets or wealth, and then have to forfeit a majority of it to the government when you pass away? That strikes us as unfair and punitive. Which is why if this type of law ever passes, we’ll rack our little brain to figure out how to lessen that estate tax blow for our clients. While we completely disagree with Mr. Sanders politics and his economics, we do admit to admiring him for at least being honest about who he is. Other pols pretend to be one way and then vote another, but not Bernie. He claims he’s a socialist and everything he does and promotes supports that stance. Too bad that all of Washington is not as straightforward as he.

And Uncle Bernie isn’t alone. At least not in his own party. Many Dems are calling for higher taxes. Which is standard operating procedure for them.

Here's a great description, in our opinion, of some of the recent liberal tax proposals. This White House advisor calls them “economically illiterate.” We agree. They might make good sound bites and appeal to the most socialist of people, but they won’t work in practice. In fact, look at any country that’s ever tried them, current day Venezuela comes to mind, Cuba too, and one will see that socialism has never worked anywhere. Ever. Nor will it. Ever. So here we go again, having once more (or lots more) to explain why high taxes are a bad idea. Why they lead to less productivity and lower tax collection revenue. Like the makers and the takers from Atlas Shrugged, if the takers keep taking, the makers will cease making.

As our therapist often reminds us, we don’t have one hundred different fights, we have the same fight one hundred different times.

If we apply the rob Peter to pay Paul, “soak the rich” mentality to Tom Brady, then he would have to relinquish his Super Bowl rings to other less fortunate NFL quarterbacks who haven’t won one. Why should he have 6 while most QBs have none? Is that fair? Just because Mr. Brady has been more fortunate, or worked harder, or luckier or whatever, doesn’t mean he shouldn’t pay his fair share. Before you dismiss this analogy as an exaggeration, consider for a moment that it isn’t.

In a follow up to another comment from last week, this one regarding whether or not to leave the flagstick in while putting, Dave Pelz, the Short Game Guru, has done the math. He says leave it in.

LF25 – We’ve told you a million times not to exaggerate.

Have a great week.

Opinions expressed are those of the author and not necessarily those of Lincoln Financial Advisors

Michael J. Acho, MBA, CFP®

Private Wealth Advisor


Lincoln Financial Advisors/Sagemark Consulting

1000 Town Center, 26th Floor

Southfield, MI 48075

248-948-5100 direct

248-948-5101 fax

248-933-4339 cell




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