On episode 57 of Portfolio Rescue, Ben Carlson and Duncan Hill are joined by Portfolio Rescue veteran and tax expert, Bill Sweet, to discuss why higher inflation should be good for stocks, offsetting capital gains, what to look for in a CPA/tax planner, and much more! Submit your Portfolio Rescue questions to askthecompoundshow@gmail.com!
►00:00 – Intro
►01:25 – Stock Market predictions for 2023.
►04:52 – Why higher inflation should be good for stocks.
►09:54 – offsetting capital gains.
►13:55 – Mutual funds to ETFs.
►17:25 – Changing asset allocation with increasing net worth.
►21:55 – Roth contributions.
►25:58 – What to look for in a CPA/Tax planner.
This episode is sponsored by KraneShares. Visit to learn more.
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These guys are good
Happy Holidays Guys!
It's excoriate slightly mispronounced
High inflation can be good for earnings of companies that sell inelastic goods. However, any given individuals share of wallet for elastic goods is highly sensitive to inflation, and high inflation and subsequently high prices will ultimately result in the lower transaction volume, and ultimately less top line revenue.
17:58 doesn't mean he has a portfolio that big. possibly just asking for future or just general curiosity.
Why don't you just predict that the market will be open and everyone will have the opportunity to exchange "cash is trash – Ray Dalio" for partial ownership of companies and will probably never pick the best price.
26:00 cpa
With capital gains , I think you only pay taxes when you sell it
@3:33 a shout-out of acknowledgement to Bank of America and Morgan Stanley analysts for calling at the start of this year, when the SP500 was 4800, that 2022 would be a down year. Though they got the magnitude wrong, they got the direction right. Given that the stock market is up well over two-thirds of the time, something like 75% of the time, the smart thing to do would be like everybody else did and simply say the stock market will go higher. Honorable mention to Wells Fargo, Barclays and Cantor for calling for a flat market.
Thank you for time stamps!
Thanks Ben and Duncan for doing this show. I always enjoy it.
ETF's are not always more tax efficient. Mutual funds pay taxes along the way while ETF's generally only pay taxes when sold. So when you go to withdraw your money from a taxable account, you could be hit with an enormous gain in your ETF that could put you into a higher tax bracket. Conversely, with a mutual fund, since you generally pay small annual taxes along the way, you can usually withdraw money from a mutual fund with very little gain (or even a loss). Mutual funds also have better tax loss harvesting advantages – where you can write off gains from other investments. Say, you put $50 into a mutual fund that pays you $30 of reinvested dividends and capital gains for the last 10 years. When you go to sell, the price of the mutual fund is $70. This means you can claim $10 of losses even though your $50 original investment grew to $70 (because the taxable cost basis is now $80). Finally, mutual funds also have the advantage of being able to carry forward losses after a down year like 2022. When this happens, investors pay less taxes in this mutual fund than a similar ETF (all things being equal). All good things to consider! Of course, performance net of fees should be paramount in your decision. I have no problem finding mutual funds that have trounced their ETF counterparts, net of fees over the years. Do your research! One size does not fit all.
You can convert your Vanguard Mutual Funds to the equivalent Vanguard ETF without occurring a tax event (loss or gain).
You guys were goofing on the palladium guy but if he bought in 2005 he probably paid about $200 per ounce and if he sold this year he probably sold it for about $2000 per ounce. A much better return than the historical returns for the S&P 500.
Did you ever notice how very rough weather in New York Morphs into a Rally in equities?