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Publication Name: Investor Cookbooks

Brief description: Hopefully helpful information and opinions from a 20-year veteran of the financial industry.

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Joined: November 20th, 2011


Investor Cookbooks wrote a new blog post titled Tax Cut & Jobs Act creates winners and losers

The Tax Cuts And Jobs Act has created winners and losers - sometimes on the same team.  Take Sally Beauty Holdings (ticker: SBH).  This is a company whose 37% tax rate should fall to 23% under the new law.  This should boost their after-tax profits by roughly 25% or $50 million.However, much of SBH’s rural sales reps will be on the losing side of the new tax law.  A typical SBH traveling sales rep might earn $55,000 per year, but will incur $20,000 in unreimbursed travel expenses.  Thus, this rep really only earns $35,000 per year. Under the old tax code, the...
(559 days ago)

Investor Cookbooks wrote a new blog post titled 2017 Historical Investment Returns by Asset Class

(565 days ago)

Investor Cookbooks wrote a new blog post titled NCRS Pension and Treasurer Folwell

Bottom line: NC Treasurer Dale Folwell is headed in the right direction. But, progress is never a straight line.  Treasurer Folwell impressed me by freezing new commitments to alternative investments.  He further impressed me by quickly firing a dozen active equity managers. But, I was disappointed that the $7 Billion of equities was liquidated instead of being transferred to index managers.  This lowered the equity exposure of the pension portfolio from 44% to 37% at a time that equities rose 10-15%. However, to be fair, the self-described longterm target allocation to...
(630 days ago)


Ron has 20 years of financial experience and is the author of 4 investment books. His credentials include MBA, CFA, CPA, and CFP.