2014 Index Performance Review

The Race

The cool, brisk air was so welcoming as I lined up at the starting line for my first marathon.  It was early fall in southern Utah, and after training in the blazing hot Arizona summer, I was looking forward to a run in some pleasant weather.   Feeling good that morning, I took off at the start, forgetting about the pace I had planned on keeping.  At mile eight we hit our fi

S&P 500 Option Overlay (Updated Fact Sheet)

Please click on the attached link for an updated performance fact sheet for SPY IPOM (S&P 500 with a covered call overlay). The recent increase in volatility is favorable for this strategy. If you have any questions, or would like more information on how SPY IPOM can be used as a part of your investment strategy, please contact Brad Gwilliam at 480-889-8998.

Turkey In A Few Sentences

So what’s happening in Turkey and why is it important?

2013: The Most Average Year Everyone Has Heard Of

2013 is officially in the books. And with the New Year upon us, a look back at last year may reveal something surprising: 2013 wasn’t all that the financial networks made it appear!

VIX: The Market’s Fear Indicator

The VIX Index, sometimes called the “Fear Index”, is a measurement of implied volatility in the financial markets.  A low VIX indicates a general consensus of clear skies ahead, while a higher VIX is a sign of anticipated risk ahead in the marketplace.  Implied volatility is also a component in option pricing, and, therefore, a higher VIX also leads to higher option premiu

Rising Yields…What’s Next?

The following chart graphically compares treasury yields as of two separate dates (April 1, 2013-Yellow and December 09, 2013-Green). Each of the lines represent the “yield curve” on that date. A yield curve plots the interest rates of different bonds, with identical credit quality, over various maturity dates.

2013 Arizona Tax Credits

As in past years, in 2013 the State of Arizona offers tax credits allowing residents to make contributions to schools and non-profit organizations, and then receive that money as a direct credit at the time taxes are filed. These donations are generally tax deductible for federal tax purposes and are a dollar for dollar credit for state tax purposes (not just a deduction).


QE Infinity has been on my mind. Wall Street pundits applied the term “infinity” for a reason. The thought of an “infinite” supply of cash being pumped into the economy felt good!  And the beat went on, and on. Poor economic data meant “infinity” would remain infinite and the markets ran. Slowing corporate profits?

Tim Bear and Tom Bull

If you were in downtown New York City tonight (which I’m not), sitting in a bar near Wall Street (which I wouldn’t), you may find yourself sitting “in the middle of” two traders. One, Tim Bear, a hedge fund investor, and the other, Tom Bull, an equity trader. Tim Bear may argue that financial markets are over-valued and in a “Fed-enduced” bubble.

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