2003

June 2003 – The New Tax Plan: What it Means to Investors

The recently signed Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) marks the third major tax-cut package passed by Congress in as many years. This most recent package will prove particularly beneficial to individual investors. However, the plan comes at the cost of additional complexity because some changes are retroactive and all are …

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Aug. 2003 – Brother, Can You Paradigm?

Remember the late 1990s, when we were entering a “new economy” guided by a “new paradigm”? Business cycles were said to be repealed, information technology would expand productivity exponentially, and of course traditional valuations for common stocks (price/earnings and price/book ratios, dividend yield) were obsolete. The party has ended, of course, and though the investing …

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Sept. 2003 – Fund Shenanigans

Much publicized government investigations into mutual-fund practices have been initiated and a wave of shareholder-initiated lawsuits is sure to follow. The allegations are troubling, as the chicanery in question would benefit institutional short-term traders at the expense of long-term individual investors. We are confident that the funds we recommend are not especially vulnerable to these …

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