Bedell Investment Counselling LLC

Bedell Investment Counselling LLC
Bedell Investment Counselling LLC is listed in the Investment Advisory Service category in Walnut Creek, California. Displayed below are the social networks for Bedell Investment Counselling LLC which include a Facebook page, a Google Plus page, a Linkedin company page and a Twitter account. The activity and popularity of Bedell Investment Counselling LLC on these social networks gives it a ZapScore of 93.

Contact information for Bedell Investment Counselling LLC is:
200 Pringle Ave
Walnut Creek, CA 94596
(925) 932-0344
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TGIF! The Drama of Taxes - Though a necessity to keep our government running, few, if any, enjoy paying taxes. To many Americans, TAX is a 4-letter word. The roots run deep in our nation’s history, in dramatic fashion. On a December evening in 1773, a group of Patriots disguised as members of the Mohawk tribe, dumped over 300 chests of British tea into Boston Harbor. It was a coordinated revolt against British taxes, with a rallying cry, "No taxation without representation." Two years later, Patrick Henry made his impassioned speech for freedom, urging the famous words, “Give me liberty, or give me death!” Political theater has been around forever, and it often involves the subject of taxes. The White House announced it is preparing what is being called the biggest tax cut in U.S. History. The goal is to cut taxes and simplify the overly complex US tax code. That sure sounds good on the surface, but like most complex issues, what matters comes below the surface. We’re still digging into the limited details. The Wall Street Journal described the tax plan as heavy on ambition, light on technical detail and likely to drive up budget deficits. Treasury Secretary Steve Mnuchin announced the new corporate tax rate will be at 15%, a sharp cut from the current 35% Federal rate. The proposal reduces the number of brackets from 7 to 3. The top tax rate for individuals would be 35%, down from today’s 39.6% top rate. Lower brackets would be set at 10% and 25%. Individuals would no longer be able to deduct the state and local taxes from their reportable Federal income. That would significantly impact residents of high-tax states like New York, New Jersey and California. The controversial Border Adjustment Tax was not in the proposal. As mentioned on numerous occasions, we believe tax-reform would be very positive for investors. The Market has gone a long way to price a deal in. We don’t think it has priced this current plan in, partly because it is void of many details. We also don’t think Congress will pass a 15% corporate tax rate. Something in the 22-28% range is more likely. But deficits matter. Officials argue that the $4 Trillion over a decade that would be lost will be made up for by greater economic growth, which will bring in more taxes, even at lower rates. Secretary Mnuchin said that eliminating various deductions, such as state and local taxes, along with stimulating economic growth and closing loopholes will help the tax plan pay for itself. The Bond Market does not like the bloated US budget deficit, and will sniff out the merits and costs very quickly. Without skipping a beat, fans and critics alike, seized the opportunity to offer an opinion on the new tax plan. The curtain is wide open for the dramatic performances on Capitol Hill. Congress will be debating the merits of tax-reform while they argue about keeping our government open for business. In case you were wondering, Saturday’s deadline was extended another week. Drama has become a growth industry in the US. Cable news and social media are certainly enablers. There’s good drama, and the not-so-good variety. Of course, it’s all very subjective. Hamilton took Broadway and the rest of the country by storm and reminds us about our Founding Fathers’ commitment and the power of the American dream. Drama can touch us all, intellectually and emotionally. It’s real, it’s human. My 3 little girls were in their school musical last night and will be again tonight. Seeing a cast of 1st thru 5th graders on stage warms your heart and makes you smile. Unfortunately, political drama doesn’t always share the same authenticity. I would argue the word “drama” also belongs to Mr. Franklin’s list of certainties, with death and taxes. Bottomline, this is merely a start to the process of tax-reform. The political theater in Washington will be heated and extensive. The fact that tax-reform’s officially on the table is an important thing. The Market likes it. Now it’s all about execution. We’re here and we’re on it. Have a great weekend. We’ll be back, dark and early on Monday. Michael Frazier

Mike’s Morning Brief: A fast-break rundown of what’s going on. Market opened flattish after the 2 best sessions on the year have taken the major indices back to their all-time highs. The NAS punched thru 6K for the first time ever. The DOW cleared 21K again yesterday. The Trump administration will roll out its tax plan today, which is something the Market has wanted. The goal is to simplify the tax code which pretty much everyone but tax professionals desperately want. Details are few, but it sounds like a repatriation of offshore cash will be included. Initial talks were for a 15% corporate rate, which will not happen. But it’s a start to have the conversation. Earnings continue to pour out, as Twitter finally has something good to say about a Quarter. Interest rates keep ticking higher while Crude and Gold have been sluggish this week. The Dollar is stronger in early trading. Have a great day. Michael Frazier

TGIF! The DOW, Earnings and Nervous Investors - The rollercoaster ride on Wall Street continues. It’s actually quite impressive how well things have held up considering the issues faced. The whipsaw price action has brought back fears. This week, Investor sentiment fell back to the lowest level on the year, back to the lows around the election. This is generally a good sign as a contrarian indicator. This 2 month sideways action has helped correct the massive move higher from November. The correction has come mostly in time, not in price. You may recall, the DOW led the charge to new, all-time highs. Trading this week certainly showed why the S&P 500 is the US Stock Market benchmark, not the price-weighted DOW. The S&P is just 2% below its all-time high reached in February. Let’s face it, most people are DOW watchers. But the Dow Jones Industrial Average does not properly reflect the US Stock Market. That role goes to the S&P 500. The DOW is an index of just 30 stocks and is price-weighted. That means higher priced stocks have greater influence in performance. The S&P is market cap weighted, so the largest of the 500 companies have the greatest influence on performance. There’s a big difference. For perspective, Apple is in both the DOW and S&P. With a $750 Billion Market Capitalization, Apple is by far the largest publicly traded American company, and the largest component in the S&P 500. Google and Microsoft are next, both above $500 Billion in value. Despite its size, Apple is not the largest influence on the DOW. That honor goes to Goldman Sachs. The reason is simple, Goldman’s stock price is over $200 while Apple is $140. In fact, there are 6 stocks in the DOW that have greater influence on the index performance than Apple. Companies don’t split their stocks like they used to. Being price weighted, every $1 movement for a DOW stock equates to a 7 point movement in the Dow Jones Industrial Average. On Wednesday, the DOW declined 120 points. Half of the declines came from just 1 stock: IBM. Many other DOW stocks were actually higher that day, but were masked by Big Blue. We pay very close attention under the hood of the Market. Small Caps had a great week, up 3%. The Tech-heavy Nasdaq is back near all-time highs. While attention is directed at North Korea and France, Corporate America keeps pressing on. Earnings season is showing some pretty encouraging signs for the rest of the year. Expectations are for earnings to grow 8% in the first quarter. Early indications suggest it could be closer to 10%. Earnings are the primary driver of stock prices, and earnings growth has accelerated this week. That is significant. When earnings lead, stocks have gone higher. When Geopolitics lead, they’ve generally gone lower. The terror attack in Paris ahead of the French election is quite concerning. With so much activity around the world, this turbulent price action is only natural. In the face of so much uncertainty and geopolitical concerns, this Market has had every reason to sell-off. So far it hasn't. Stocks aren’t cheap, but they’re not excessively expensive either. Tax-reform would be a nice additive. Accelerating earnings growth and nervous investors have historically proven to be a very Bullish combo. We’re pretty impressed with this price action. The set up is there for another move higher into Summer. That’s still our call. We’re all over it. Have a nice weekend. We’ll be back, dark and early on Monday. Michael Frazier

Mike’s Morning Brief: A fast-break rundown of what’s going on. Market opened higher after much of Monday’s gains were erased by Tuesday’s losses. Importantly, stocks closed well off their lows yesterday. But we have seen decliners 4 of the last 5 trading days. This Market continues its sideways action with a downward bias. It’s been correcting since hitting the new, all-time highs in February. Corrections can come with time rather than price. That’s what this feels like, a healthy consolidation before setting up for higher levels into Summer. That’s still our thesis. But we are very mindful that things can change. Geopolitics are a total wild card, but so far have been somewhat manageable. These are really challenging issues with no easy solutions. When the facts change, so do we. The French election is looming, and too early to call. Expectations are for the left leaning, pro-EU candidate to win. It sounds like the US aircraft carrier Vinson did not make its way to the Korean peninsula after all. Earnings haven’t brought the positive tone expected quite yet. IBM is weighing heavily on the DOW with its 20th consecutive Qtly revenue decline. Morgan Stanley reported a double beat, sending the stock higher. Interest rates are ticking up again, with the 10-Year Treasury yield back above 2.2%. Crude is getting lift as well. Gold has been strong the last few days, and is taking a breather in early trading. The Dollar is higher after an extended period of weakness, which is mostly mean reversion from super strength. Have a great day. Michael Frazier
Mike’s Morning Brief: A fast-break rundown of what’s going on. Market opened higher after much of Monday’s gains were erased by Tuesday’s losses. Importantly, stocks closed well off their lows yesterday. But we have seen decliners 4 of the last 5 trading days. This Market continues its sideways a...

TGI-Thursday! Things just got more complicated. As if they weren’t already complicated enough. Geopolitics..

TGI-Thursday! Things just got more complicated. As if they weren’t already complicated enough. Geopolitics captured Market attention this week, with the primary focus around Syria and North Korea. The response from the White House has created an interesting and significant development on the global landscape. In a complete reversal from last year, relations are chilling with Russia while they seem to have thawed substantially with China. As the Presidential candidate, Donald Trump slammed the Chinese for unfair trade and called them currency manipulators. Conversely, he embraced the prospects of a stronger American-Russian relationship. Investigations are ongoing as to how close they were and aimed to be. This will no doubt play a major role in how the rest of the year unfolds. Something important is happening. Even though the headlines and consequences are highly concerning, the Market is taking everything in stride. There has not been a massive selloff like one might have thought. There has been tremendous movement under the surface, but the broad index as measured by the S&P has basically traded sideways near its all-time high. The Stock Market was due for a breather. However, the Market implications are significant with the diplomatic reversal between China and Russia. China is much more important to the global economy than Russia. China is the second largest economy behind the US. China is our second largest trading partner, representing 15% of total US trade. It’s about to replace Canada at the top. Russia isn’t even in the top 25, with a struggling economy heavily tied to fossil fuel. Improved relations with China will seemingly enhance our mutual economic activity, stimulate the global economy, cool the rising tensions on the Korean peninsula, and forge a path to a smoother and more prosperous Pacific Rim for this young, 21st century. Make no mistake, things are far from certain for a warmer US-China alliance. We agree to disagree on many issues, largely political and social. But this new trend is definitely a positive development. China has its own transition of power coming later in the year. President Xi wants to ensure a strong political standing with a healthy economic outlook. Its economy seems to be accelerating again. He wants that to continue. President Xi knows he’s on center stage and the world is watching. It gets magnified even sharper when a leader is with the American President. The US and China need each other. Who needs who more is debatable and both countries are trying to strategically navigate that. Despite the knee-jerk emotional investor reaction, which saw money flow into Bonds and Gold, the underlying health of this Market hasn’t really changed. Trading has been very orderly. The Credit Market is showing few signs of stress in the system. Economic data continues to show growth both at home and overseas. In fact, most International Markets behaved quite well this week. They are much cheaper than our Market is and many are far from all-time highs. Our thesis of a global catch-up is still playing out while our Market corrects. If earnings season continues with more solid reports like we saw this week, this Market could reignite higher into Summer. Enjoy the weekend. The Market will be closed tomorrow in observance of Good Friday. Our office will be closed too. We’ll be back, dark and early on Monday. Happy Easter! Michael Frazier

TGIF! News Events and Market Influence - We live in a massively complex world. Our world has proven to be much...

☑Northern Lights ☑Iceland ☑Bedell Frazier Traveling Hat #bficTraveli

Mike’s Morning Brief: A fast-break rundown of what’s going on. Market opened in the green on this March Fed da…

Mike’s Morning Brief: A fast-break rundown of what’s going on. Market opened in the green on this March Fed day.