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.
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.
The secret is out. After years of whispers in the economic dark President Obama said out loud what we have all known was a fundamental truth: China is the banker to the United States and buying the debt that keeps the American economy moving forward. This is globalization at work though a condition not desirable to the United States.
Nouriel Roubini, otherwise known as Dr. Doom, was interviewed on CNBC today where he outlined his views on the world economy. As usual he continued his warnings about significant issues facing the global economy. His arguments on the theme that denial of a deleveraging world is a dangerous position to take was as always, very thoughtful.
Now that Berkshire Hathaway's annual meeting has concluded, it's time to stand back and assess the lessons provided by Warren Buffett in his comments to the faithful in Omaha. As is usually the case, his wisdom can be instructive for all investors particularly in today's difficult market environment.
For the last 18 months, the world has focused on fear. The economy, equity markets, and just about everything else has collapsed. It's been very difficult to think about investing with a growth mindset. Depending on who you listen to, recovery is just around the corner or perhaps a year away.