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.
The stress tests designed by the Federal Reserve and Treasury Department were made to assess a basic financial solvency measure -- the ability of these firms to weather a difficult economic storm. How will banks survive a potential greater downturn in the U.S. economy?
Markets have experienced volatility on an unprecedented basis. The Nikkei last October plunged an unprecedented 10% in one session. That same month saw the Dow losing 7%, the Nasdaq down 9% and the S&P 500 falling 8% all in a single session. The truth is, volatility is likely here to stay.
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.