Michael Yoshikami, Ph.D., CFP®, is CEO, founder and chairman of Destination Wealth Management's Investment Committee at Destination. Founded in 1986, Destination is a San Francisco Bay Area-based independent, wealth-management firm. He leads the research initiatives at DWM and develops tactical allocation strategies for firm portfolios.
Michael is also finance professor at the National University of Singapore and authors finance white papers for the Centre for Asset Management Research & Investments (CAMRI) at NUS.
Michael was named by Barron's as one of the Top 100 Independent Financial Advisors for 2009, 2010, 2011 and 2012. He holds a BS in business administration, MBA and Ph.D. in education. He is also a Certified Financial Planner®.
It's that time of the year again — earnings season. The impact of this difficult recession will clearly be evident in this coming quarter's earnings as the teeth of the downturn takes hold. And what we see in the next 45 days will give us a sense of how much impact there has been.
As the debate rages on about the best way to combat the worst downturn in the United States since the Depression, there appears to be two broad perspectives about the future of American economy.
Seems like everybody nowadays is interested in buying government bonds, but the reasons differ depending on who you are. The Bank of Japan announced they would increase the purchases of their own sovereign debt following in the footsteps of the Bank of England who also stated they would purchase gilts.
The government is moving towards a budget that will raise the national deficit to almost $2 trillion dollars. $2,000,000,000,000. That's a lot of zeroes! Even the Chinese have expressed concern over U.S. deficits. And when the Chinese, the biggest buyer of U.S. debt, begin voice concerns, you know deficits are real and something to be worried about.
Should we nationalize banks in the U.S.? I find the current debate about whether or not banks should be nationalized, bordering on ridiculous. The truth is, some very large institutions are already nationalized. How do I know this? Easy, fresh baked cookies.
Investors everywhere are reading Warren Buffett's commentary on his past actions as well as general views about the economy. But perhaps the best lessons are sometimes hidden behind the words. It requires a careful examination of his letters to fully capture the genius of Buffett and integrate his wisdom into your portfolio.
Obama spoke of many things in his Financial State of the Union. But the underlying tone was one steeped in one basic theme: accountability. For his administration, for you and me, and for the scoundrel corporate leaders everyone loves to hate nowadays. He said over and over again that the party is over, the fantasy dead. We have to be accountable for our actions.