3rd Quarter Market Review

Everywhere you look people are talking about Artificial Intelligence (AI). How will AI change the world? Will AI put millions of people out of work? Will AI mean a stock market boom or the end of many companies as we know them? Why is AI powering the S&P 500 gains of the past 6 months and is it sustainable? I dig into all of these questions and more with Chris Brigham, a Senior Research Analyst at Bernstein, who has led much of a research on Artificial Intelligence.

With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicit

As we get closer to April 15th taxes take center stage. On this episode I walk you through all the reporting information to pass along to your accountant or tax preparer. I cover when reports will be released, which reports to use, which reports are best for each account type and need.

 With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

2023 was an interesting year for stocks. Commonly held worries about inflation and a slowing economy were proven incorrect. After 3 quarters of middling returns for stocks and negative returns for bonds, 4th quarter was a period of enormous gains for investors across all asset classes. On this episode I cover 2023 with a focus on 4th quarter and provide the outlook for where go from here.

• The performance of stock and bonds markets in 4Q 2023 and for the full year;
• The likely path for the economy and interest rates;
• A deep dive into the impact of the “magnificent 7” stocks on index performance and how to think about them in 2024;
• What investors do now, especially as many have accumulated large cash and money market positions;
• How to think about election years impact on market performance.

This episode is a replay of a client webinar from January 2024.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The end of the year always comes with lots of discussions about capital gains, income, and all aspects of taxes. This episode is a deep dive on taxes and how best to manage a portfolio to limit the tax liability. To learn more I'm joined by John McLaughlin, the Director of Tax and Transition Services at Bernstein. We cover everything from how managing for after-tax return is not only an end-of-year exercise; how to customize a portfolio for every investors unique tax circumstances; the development of a portfolio specifically designed to track the markets but with better after-tax returns; amongst other topics.

With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service spon

The 3rd quarter was a period of change for investors. Stocks continued to rally early in the summer but then as investors began to digest a new interest rate regime, stock and bond markets sold off meaningfully to end the quarter. Treasury yields have risen to rates not seen in over 15 years. On this podcast I delve into the following topics and more:  

• The performance of stock and bonds markets year-to-date;
• Why the economy continues to be resilient in the face of much higher interest rates; 
• The outlook for inflation, the fed, and interest rates;
• How to invest in stock and bond markets during periods of volatility;
• Why I believe the bond market is acting more like the stock market;
• Where opportunity exists today.

This episode is a replay of a client webinar from October 2023.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The first half of the year had stocks in rally mode and bond markets stabilizing. We have reached the inflection point where the next steps by the Fed are likely to decide the course of markets over the remainder of the year. On this episode I cover: 

• The performance of stock and bonds markets year-to-date;
• Why the US stock market is up so much;
• The recession that’s always predicted by some but has yet to arrive;
• How to play the bond market with rates now much higher;
• Our outlook for inflation;
• The most compelling opportunities today.

This episode is a replay of a client webinar from July 2023.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

As the world gets smaller more and more families are living cross border lives. With family members living in multiple countries the planning concepts and tax considerations only get more complex. To learn more about how global families have unique investment and financial planning challenges I'm joined on this episode by Chris Opie, a Managing Director at Bernstein who leads the firm’s global families practice. We cover everything from the complications of US citizens marrying not US person,  estate tax challenges, managing multiple currencies, amongst other topics. 

With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode I'm joined by Roosevelt Bowman, Senior Investment Strategist at Bernstein.  Roosevelt and I discuss all the hot topics in the markets today; fed policy, inflation, the banking crisis, the debt ceiling, and how to be opportunistic.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The first quarter saw a recovery in both stock and bond markets but questions and worries remain. Topics covered include:

• The performance of stock and bonds markets year-to-date;
• A deep dive on bond portfolio positioning;
• The impact of the Silicon Valley Bank failure;
• The outlook for inflation, the fed, and interest rates;
• Planning for the debt ceiling;
• Projections for returns across various asset classes moving forward.

This episode is a replay of a client webinar from April 2023.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The Setting Every Community Up for Retirement Enhancement (“SECURE”) Act of 2019 was the most significant retirement-related legislation since the Pension Protection Act of 2006. The Act significantly altered the estate planning landscape for retirement account owners by eliminating the stretch IRA for most non-spouse beneficiaries and introducing new rules for trust beneficiaries. To learn more about tax and estate planning with retirement account I'm joined on this episode by Bernstein National Director of Tax Research Bob Dietz.

With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.

The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.