Quote of the Week

“He who closes his eyes sees nothing, even in the full light of day.” – Leopold Trepper

Tech Corner

 Last week not a good week for the equity markets with a major selloff on Friday after Fed chairman Jerome Powell’s comments at the Jackson Hole Summit. The Dow was down -4.2%, the S&P 500 was down -4.0%, and the Nasdaq was down -4.4%. The trend is continuing down again this week through Tuesday. Folks, this is what we can expect with the economy probably remaining in Quad IV for the next four quarters. We have already experienced the valuation drawdown. Now we can expect to experience the corporate earnings stock market drawdown.

It is clear what spooked the markets is Powell’s comments as follows:

“Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance. Reducing inflation is likely to require a sustained period of below-trend growth. Moreover, there will very likely be some softening of labor market conditions. While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain”.

s coming. Mathematics rule. Hope is not an investment strategy.


Larry’s Thoughts

 A Checklist of What to Do When Someone Dies

It is always a difficult time just after someone dies. We as a firm will of course always help anyone get through that process. It is a time of confusion, sadness, and stress. Hopefully the following list can give some order to the situation.

1) When you are making the arrangements, ask for additional copies of the death certificates. You        almost always need more copies than you think. On average, six to ten copies are needed.

2) Call your attorney and your financial advisor. There are many administrative and legal matters that will need to be addressed and they both can help you with this.

3) Contact Social Security. Your Social Security benefits may and probably will change after a spouse’s death. You should notify them as soon a possible.

4) Review and or cancel their health insurance including notifying Medicare if appropriate.

5) Contact your spouse’s pension plans if applicable. You may be listed as a continuing beneficiary for a death benefit or a continuation of benefits. We can help you with this.

6) If your spouse has life insurance notify us and we will help you file the claim.

7) Notify all your financial institutions. This includes banks (change account names), credit card companies (remove spouse or close accounts), mortgage companies, insurance companies and all other important bills (change into your name only).

8) If your spouse was a veteran, contact the Department of Veterans Affairs to check to see if there are any benefits payable to you.

9) Contact your CPA. You will want to discuss all of the issues for this tax year.

10) Retitle any assets. Any assets (real estate, cars, etc.) in your spouse’s name should be titled in your own name.

11) Update your own estate plan. It is especially important to do this promptly. Even though this is the last thing you want to do, it is important to get your affairs in order. You can work with your attorney to accomplish this task.

If you need any guidance we will always be there to help you.


  If you have friends or family in need of financial life planning services,

It would be the honor of Laurence Lof Financial Advisors to assist them.

We value your referrals!



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These are Larry Lof’s opinions and not necessarily those of Cambridge, are for informational purposes only and should not be construed or acted upon as individualized investment advice. Past performance is not indicative of future results. Due to our compliance review process, delayed dissemination of this commentary occurs.

The S&P 500 index of stocks compiled by Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. The Index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. Indices mentioned are unmanaged and cannot be invested into directly.

Technical analysis represents an observation of past performance and trend, and past performance and trend are no guarantee of future performance, price, or trend. The price movements within capital markets cannot be guaranteed and always remain uncertain. The allocation discussed herein is not designed based on the individual needs of any one specific client or investor. In other words, it is not a customized strategy designed on the specific financial circumstances of the client. Please consult an advisor to discuss your individual situation before making any investments decision. Investing in securities involves risk of loss. Further, depending on the different types of investments, there may be varying degrees of risk including loss of original principal.



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