Michael Yoshikami, Ph.D., CFP®, is CEO and Founder of Destination Wealth Management and Chairman of DWM's Portfolio Strategy Committee.
Founded in 1986, Destination is a San Francisco Bay Area-based independent firm that provides fee-based wealth management services to institutional and individual investors. Michael was named by Barron's as one of the "Top 100 Independent Financial Advisors" six years in a row (2009 – 2014).
Michael has over 30 years of experience in the investment management and financial planning field. He oversees the economic viewpoints of the firm and the integration into client portfolios. As Chairman of the Portfolio Strategy Committee, he oversees the macro tactical asset allocation weightings for client portfolios. Additionally, he works with Destination's investment team in integrating behavioral investing strategies with the firm's core fundamental perspective.
Michael provides commentary to Reuters, Dow Jones, the Wall Street Journal, and other international publications and publishes a weekly investment market/investing report that examines the macro environment and its impact on investment decisions.
He holds a Ph.D. in education, and has earned the Certified Financial Planner (CFP®) designation.
There is no doubt that something has to be done about the rising cost of health care in the United States. The status quo is a recipe for disaster and, considering the gigantic federal deficit, the last thing the United States needs is an even larger anchor on fiscal health.
With all the talk of the United States in decline (and China on the upswing) there's one inescapable fact that often gets lost in the debate — China and the U.S. are dependent on each other and if either country flounders, there will be a dramatic negative effects on both economies.
With all the talk of green shoots and hopeful expectations, the reality is companies must begin to report better earnings if we expect equity rallies to continue forward. Hope and expectation are all good and fine, but reality must match real-world company performance. July earnings will offer up some clues on what the rest for the year will look like.
As green shoots continue to pop up and give hope that a depression has been avoided, it's important to recognize that there still are significant headwinds facing the U.S. and global economy. There's a real chance that we may face a menace that proved to be destructive for investors portfolios decades ago: Stagflation
Investors are reeling from the latest investment bubble to burst — long-term Treasury bonds. With mutual fund managers and investors absorbing losses of more than 15% on supposedly safe assets, this highlights the perils in fear-based investing.
With U.S. deficits rising at a record pace, the possibility that America will lose its AAA investment rating is becoming more and more plausible. While this scenario far from inevitable, there is certainly concern that rising debt levels will decrease the creditworthiness of the U.S. government. The result — a weaker dollar.