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Positive developments regarding a vaccine from both Moderna and Pfizer over the last couple of weeks have driven a strong equity market rally. Investors are cheering the prospect of a widely available vaccine by the middle of next year, which should greatly diminish the risk to the current cyclical recovery. With the potential for consumer behavior to gradually return to a semblance of normalcy toward the end of 2021, equity investors can feel more confident that the robust earnings rebound which is already underway can continue. Most companies in the S&P 500 have reported third quarter earnings with 84% reporting a positive surprise. Expectations going into the quarter were admittedly very low and blended earnings are still likely down 6.3% year-over-year for the quarter.
The Peapack Private Planning Quarterly | November 2020 Issue
Planning issues arise at every stage of life. Each quarter, we’ll take a deep dive into issues our clients find meaningful. Please reach out to your primary wealth advisor or to our authors with your questions or ideas for future articles. Our guidance can help you achieve your financial goals.
what will i owe in taxes if i sell this bond fund?
If you sell mutual fund shares, your realized gain equals the difference between the net asset value (NAV) of the shares on the sale date and the cost basis of those shares, said Jodi Cirignano, a certified financial planner and certified public accountant with Lassus Wherley, a subsidiary of Peapack-Gladstone Bank, in New Providence. Your tax liability would be calculated on that resulting gain, she said.
“For shares held longer than one year before selling, your profit is considered a long-term capital gain and taxed at a lower rate than ordinary income,” she said.
Investment Outlook: A Peapack Private Wealth Management Publication | Third Quarter 2020: What, Me Worry?
In 1954, the cover page of the inaugural edition of MAD magazine introduced the world to Alfred E. Neuman. With
his gap-tooth grin and protruding ears, Neuman presents an air of insouciance to match his slogan.
his gap-tooth grin and protruding ears, Neuman presents an air of insouciance to match his slogan.
Of course, we look back at the 1950’s as an era of complacency—and why not? Conformity was the order of the day. American supremacy was undisputed. The Korean War was over. The economy enjoyed a long expansion, solid 3% GDP growth, a 30% rise in real household income, low inflation, and balanced federal budgets. McDonald’s was born, Disneyland was opened, and the military-industrial complex flourished. And the nation rocked and rolled.
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