A New Year’s to Remember

The first part of the Fiscal Cliff is now behind us. Since I am more of a stay at home celebration person, my wife became somewhat aggravated with me switching for one channel to another trying to stay informed on the issue. She finally forced me to go to another TV in the house so she could watch Seacrest and the crystal ball bring in the New Year.

So here we are with a plan that does nothing to solve the debt and spending problems but it is a start. The markets across the world are rallying but just like bad news brings markets down, good news forces them up. The key to smart investing is not to let your emotions dictate your investment decision either way. Since I am not a market timer my personal view on this knee jerk rally is to see if there is follow through and then add to positions based on their relative strength.

If you have been reading my comments you know that I am positive on equities but as markets rise so does risk so it becomes much more prudent to first rebalance then add to those areas of the market that will benefit from the decisions made over the last two days.

I hate to end on a discouraging note but I have always been more concerned with entitlements, debt and spending than tax rates and that is what the next Cliff will be formed on. I am working on my observations for 2013 and hopefully have that out for weekend reading.

Bill

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About billriley

Chief Executive Officer, Chief Compliance Officer A co-founder and shareholder, William Riley is a 33 year industry veteran, who observed, many years ago, that over time institutional investors typically outperform individual investors while accepting less risk. In his role as Chief Executive Officer, Bill works tirelessly to make the wealth management strategies used by the world’s wealthiest families and largest institutions available to our firm’s individual clients. Bill combines fundamental and technical analysis to minimize investment portfolio risk and maximize potential returns. He uses a variety of non-correlated asset classes, including alternative investments, to minimize portfolio volatility and seek absolute returns in down or flat markets. Finally, Bill believes in a comprehensive approach to wealth management that fully coordinates and seamlessly integrates portfolio management, risk management and asset protection, trust, estate, tax and charitable planning. Prior to co-founding Riley Wealth Management ,LLC, Bill held management positions at Merrill Lynch, UBS, Raymond James, Paine Webber and J.C. Bradford. Bill founded Fort Worth branches for Raymond James and J.C. Bradford. Prior to entering the financial services industry, Bill ran his families closely held businesses. Bill’s experience operating family businesses combined with his wealth management experience makes him uniquely qualified to advise entrepreneurs and business owners on a variety of matters including complex and sensitive issues relating to business succession. Bill’s degrees and designations included a Masters Degree in Business Administration (MBA), the Chartered Financial Consultant designation (ChFC), the Chartered Life Underwriter designation (CLU) and the Wealth Management Specialist designation (WMS). A Fort Worth native, Bill is a TCU alum and active in many civic and charitable organizations. Bill and his wife, Marsha, now reside in Colleyville, and they have four grown children and four grandchildren. When he is not working on portfolios or studying financial markets, Bill can be found on the golf courses of Ridglea Country Club.
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