Market Update: The Latest Equity Correction (April 15, 2014)
Recent weeks have seen another sharp equity correction, raising questions about the longer-term outlook for stocks. Chief Investment Officer Rebecca Patterson offers our perspectives on equity market drivers, as well as specific catalysts that could lead us to consider reducing our equity overweight in client portfolios.
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Quarterly Investment Perspective: Islands in a Storm (March 31, 2014)
In this edition, Chief Investment Officer Rebecca Patterson shares how the Investment Department analyzes contagion. When should an investor care about challenges in what seem to be insignificant parts of the world? How does contagion spread from small “islands in a storm” to global financial markets? She also discusses her macroeconomic and market outlook for the year ahead, as well as how Bessemer’s portfolios are positioned to successfully navigate contagion-fueled volatility along the way.
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Engaging the Next Generation Through Philanthropy (March 26, 2014)
Among the many concerns wealthy families face is finding a dynamic way to discuss family values and increase the financial acumen of younger generations. In this paper, Director of Family Wealth Stewardship Donna Trammell and Philanthropy Advisor Caroline Woodruff explore one of the most powerful means of addressing these challenges: family philanthropy.
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Market Update: Putting Ukraine in Context (March 5, 2014)
A recent escalation of tensions between Russia and the Ukraine has raised questions about the crisis’s implications for global markets. In this Market Update, Chief Investment Officer Rebecca Patterson offers our perspectives on the turmoil in Eastern Europe and explains Bessemer’s approach to evaluating investment decisions in light of such geopolitical events.
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Market Update: When Will the Fog Lift? (February 14, 2014)
Recent weeks have seen more than snow and ice blanket much of the country; they have also seen a fog cloud many investors’ outlooks for different parts of the global economy. In this Market Update, Chief Investment Officer Rebecca Patterson discusses the sources of investors’ concerns, and why Bessemer continues to believe that the figurative sun will return, helping equities higher over the coming year.
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Market Update: Bernanke’s Out, Emerging Markets Are Down (January 29, 2014)
In Fed chairman Ben Bernanke’s final policy meeting Wednesday, the U.S. central bank announced it would continue to “taper” its quantitative easing program. In this Market Update, Chief Investment Officer Rebecca Patterson discusses the implications of this policy move for the global economy—and why problems are mounting for emerging markets.
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Market Update: Selloff Thoughts (January 27, 2014)
After extraordinary gains in 2013, global equities and risk assets have had a disappointing start to 2014. In this Market Update, Chief Investment Officer Rebecca Patterson discusses the two biggest factors behind the recent correction—and what investors should watch most carefully in the period ahead.
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Market Update: Enjoying European Momentum, But Cautiously (January 23, 2014)
The first weeks of 2014 have seen continued gains from European equity and bond markets, made more striking given the lackluster January returns in the U.S. and Asia. In this update, we examine the drivers behind these constructive euro-area trends. We also ask at what point good news on European capital inflows might turn into bad news for the regional economy.
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Client Conference Call and Webcast—2014: The Year of Volatility (January 9, 2014)
Rebecca Patterson, Bessemer Trust’s Chief Investment Officer, and Peter Langas, Bessemer Trust's Head of Investment Strategies discussed the year ahead in financial markets. Listen to the webcast.
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Bessemer's Approach to Asset Allocation: Aligning Risk and Reward (January 6, 2014)
A thoughtful, diversified portfolio starts with longer-term, strategic weightings for key asset classes such as equities and fixed income. As we begin 2014, we are revising our strategic weightings to reflect the significant structural shifts in the global economy that impact our expectations for future market returns.
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Philanthropy Update: Who Can Help You Compensate for Your Blind Spots in Philanthropy? (December 17, 2013)
Recently, Bessemer’s new Director of Philanthropic Advisory Services, Paul Connolly, spoke at a gathering for Bay Area philanthropists in which he discussed the pros and cons of taking a data-oriented approach to charitable giving. In this update, which will be featured on the Philanthropy News Digest blog PhilanTopic this week, Bessemer Philanthropic Advisor Caroline Woodruff discusses some of the key takeaways from the event—and how donors can benefit from an advisor when it comes to balancing the “head” and the “heart” of philanthropy.
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Market Update: Bitcoin’s Success Does Not Mean the U.S. Dollar’s Failure (December 9, 2013)
Bitcoin, the digital currency launched in 2009, is being accepted by an increasing number of vendors worldwide, from car dealerships to charities. But does bitcoin’s success foreshadow the U.S. dollar’s demise? In this Market Update, Chief Investment Officer Rebecca Patterson explains why the cyber-currency is likely to continue having a minimal impact on the U.S. dollar—and a bigger influence in China.
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Quarterly Investment Perspective: The Year of Volatility (December 4, 2013)
In this look at the year ahead, Chief Investment Officer Rebecca Patterson examines potential catalysts for market volatility in 2014, from changes in Federal Reserve policy to emerging-market elections. She also discusses how Bessemer’s portfolios are positioned to capitalize on the opportunities that lie ahead—and how limiting volatility strategically can pay dividends to investors over time.
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Market Update: Equity Fears Are Overblown (November 25, 2013)
With stocks continuing their steep 2013 ascent in recent weeks, investors have grown increasingly concerned that equity markets are due for a correction. In this Market Update, Chief Investment Officer Rebecca Patterson explores what’s behind these fears—and why many of them are overblown.
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Tax Update: Before the Year Ends—What to Know About Investment Income and Taxes (November 21, 2013)
In 2013, several changes to the tax code have left many high-income taxpayers facing greater tax liabilities—particularly surrounding investment income. In this Tax Update, Director of Tax & Financial Planning Stephen A. Baxley explains how 2013 tax provisions differ from those in 2012 and discusses key planning moves clients might consider before year-end to minimize their tax bills.
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A Closer Look: Diversification—Why It Still Makes Sense (November 18, 2013)
In 2013, U.S. stocks have delivered returns that dwarf those of most other asset classes, calling into question the merits of building a diversified portfolio. In this A Closer Look, Investment Strategist Patrick Boyle puts this year's returns in context and explains why owning a mix of complementary asset classes still positions investors best over time.
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Market Update: A Gasoline-Powered Holiday Season (November 8, 2013)
As the holiday season kicks off, consumers have another reason to cheer: lower gasoline prices. In this Market Update, Chief Investment Officer Rebecca Patterson explains what’s behind a 12% drop in fuel prices since July—and why relief at the pump is just one of several reasons for investors to feel optimistic as 2014 approaches.
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A Closer Look: Bond Investing in a Rising Rate Environment (October 21, 2013)
In 2013, yields for high-quality bonds have risen sharply, calling into question the future return potential for the asset class. In this Closer Look, Head of Fixed Income David W. Rossmiller assesses the outlook for fixed income and explains why high-quality bonds—despite their diminished upside—still play a crucial role in a diversified portfolio.
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Market Update: The Markets-Politics Disconnect (October 17, 2013)
Early Thursday morning, President Obama signed into law a bill ending the recent 16-day government shutdown and raising the national debt ceiling. In this Market Update, Chief Investment Officer Rebecca Patterson discusses the market’s response to the recent fiscal battle in Washington—and what the Wall Street-Washington disconnect could mean for markets and the economy going forward.
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Hedge Funds and Shareholder Activism: A Private Equity Approach to the Public Markets (October 16, 2013)
In recent years, one hedge fund strategy that has garnered increasing interest and capital from the investing community is shareholder activism. In this paper, Bessemer’s hedge fund team explains the evolution of this approach and discusses how Bessemer’s hedge fund programs have participated in the strategy that combines elements of public market and private equity investing.
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Market Update: Frequently Asked Questions on the Shutdown and Debt Ceiling (October 10, 2013)
As the U.S. government shutdown continues for the second week, Congress remains mired in tense negotiations regarding the nation’s fiscal policy. In this Market Update, Chief Investment Officer Rebecca Patterson addresses some frequently asked questions from clients amid the ongoing debate, touching on the federal government shutdown, the debt ceiling, and a potential default.
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Quarterly Investment Perspective: World Weary? (October 2013)
In this issue, Chief Investment Officer Rebecca Patterson analyzes the factors behind an increasingly isolationist world economy with divergent national goals and limited policy coordination. She then explains why investors and national economies will benefit from returning to a more integrated global approach — and how Bessemer has positioned its portfolios accordingly.
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Market Update: Asset Allocation and the (Very) Long Road Back to “Normal” (September 18, 2013)
In a somewhat surprising move on Wednesday, the U.S. Federal Reserve announced it would continue its program of buying $85 billion worth of bonds and mortgage-backed securities each month to stimulate the U.S. economy. We believe this news, combined with gradually improving global growth, as well as greater clarity over the next Fed chair, Syria, and upcoming German elections, is likely to support equity markets going forward. In this Market Update, Chief Investment Officer Rebecca Patterson puts these recent events in context and explains how Bessemer is altering its asset allocation in response to the shifting environment.
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A Challenging Time for Trusts: Assessing Strategies for Generating More Income (September 18, 2013)
Today’s low-interest-rate environment has led to smaller distributions from many trusts, prompting many beneficiaries to ask their trustees for more income. In this wealth management update, Investment Strategist Patrick Boyle and Senior Fiduciary Counsel Mark R. Parthemer discuss the two key ways trustees can address beneficiaries' concerns–and why the process requires a rigorous analytical framework.
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Market Update: September Risks Abate Further (September 16, 2013)
Going into September, investors had several reasons for caution, ranging from a possible military strike on Syria to uncertainty over who will be the next chair of the U.S. Federal Reserve. In this Market Update, Chief Investment Officer Rebecca Patterson explains how recent events have reduced market risks and discusses the near-term challenges that remain.
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Client Conference Call and Webcast—Fall Forecast: Putting the Pieces Together (September 4, 2013)
Several critical events in the U.S. anticipated for this fall, including the announcement of Federal Reserve Chairman Bernanke’s successor, a potential change in monetary policy, and fears of another showdown as the government nears the debt ceiling, could result in increased volatility for markets. Listen to the replay
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Market Update: Syria, Summers, and Summer (August 28, 2013)
Two recent catalysts have unnerved investors: speculation regarding the next Federal Reserve Chairman and rising tensions in Syria. In this Market Update, Chief Investment Officer Rebecca Patterson takes a closer look at both developments and explains how Bessemer’s portfolio positioning has helped us weather the August storm.
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Tax Commentary: Back to Basics—Planning in a More Certain Tax Environment (August 21, 2013)
In 2013, U.S. tax policy is markedly different from that of the previous 12 years in one important respect: Key tax rates and provisions no longer have an expiration date. In this commentary, Director of Tax & Financial Planning Stephen A. Baxley provides a brief overview of today’s tax landscape and discusses how planning efforts should now focus on the “basics” of potential opportunities and hazards in the tax code.
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Market Update: Does Germany’s Election Matter? (August 15, 2013)
On September 22, there will be a critical federal election in Germany, the world’s fourth-largest economy. In this Market Update, Chief Investment Officer Rebecca Patterson discusses the likely outcome of the election and evaluates what it could mean for European monetary policy, integration efforts, and equity markets.
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Market Update: Europe, Equities, and European Equities (August 6, 2013)
While many investors remain fixated on the determined upward march by the S&P 500 Index, in recent weeks European equities have actually taken the lead over their U.S. counterparts. In this update, we examine whether this leadership rotation — which favors European equities — will be sustained. We also examine possible September scenarios that may at least cause global equity markets to pause in what we believe is a constructive medium-term trend.
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Market Update: Detroit Bankruptcy (July 24, 2013)
On July 18, the city of Detroit received the ignominious distinction of being the largest city in U.S. history to go bankrupt. In this Market Update, Head of Fixed Income David W. Rossmiller provides our thoughts on Detroit’s financial downfall and explains how Bessemer’s rigorous independent research process is designed to help us steer clear of such problematic issuers.
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A Closer Look: Dr. Copper and the World Economy (July 22, 2013)
Last week, after China announced that the pace of its GDP growth had slowed in the second quarter, investors sought to get a better gauge of worldwide economic health. In this A Closer Look, Bessemer commodities specialist Mohan Mandrekar examines one commodity that has earned a reputation for being able to forecast the direction of the global economy: copper. Following a recent research trip to Chile, the world’s largest copper producer, he discusses the link between global economic activity and the price of copper as well as the outlook for this critical commodity.
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A Closer Look: Inflation and Investing—A Roundtable (July 12, 2013)
When U.S. Federal Reserve Chairman Bernanke delivers his semiannual testimony to Congress this week, inflation risks tied to quantitative easing are likely to feature prominently. While global price pressures are currently muted, the unprecedented monetary policy undertaken in recent years is keeping inflation fears alive and well.
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Estate Planning Update: Supreme Court Decision in Windsor Creates Planning Opportunities for Same-Sex Married Couples (July 9, 2013)
In June, a divided U.S. Supreme Court rendered its highly anticipated decision in United States v. Windsor and declared that Section 3 of the Defense of Marriage Act is unconstitutional. In this update, Bessemer’s legacy and tax planning teams provide some background on the case itself and explain some of the key consequences of the recent ruling.
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A Closer Look: Why Are Oil Prices So Closely Tied to Geopolitics? (July 8, 2013)
Last week's military coup in Egypt was an unfortunate, timely reminder that geopolitics and oil prices are inseparable. The escalation of tensions in Egypt, which controls two of the world's busiest oil transit lanes, along with related fears about the region's oil supplies, quickly pushed crude prices to multi-month highs.
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Three New Videos Added to Across the Board (July 2, 2013)
The latest videos on Across the Board offer guidance for those looking either to buy or rent a home. In these three segments, Bessemer's financial educator, Ricky McRoskey, discusses the pros and cons of renting versus buying and provides helpful tips for both potential renters and buyers to keep in mind.
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Fixed Income Commentary: Rolling Down the Yield Curve (August 20, 2010)
Bonds are an important compoet of a well-balanced portfolio and can still provide reasonable returns.
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