Info

Two Rules | Rule #1 Do Not Lose Your Principal | Rule #2 See Rule #1

20070326 Jin Nakashima image 1182257L

Mike (original)

asu_phx_downtown

Ike Devji montage

Sand-traps

Charles Tune Esplanade

Red-Mountain

461344_10150719667204683_433816096_o

John Herman

Mountain-view

Horizontal-golf

Roger Stolp

Golf 6

0957514

Ike headshot

Russell Stolp

Desert golf

marlene-96dpi_1397107930

J. Michael Stolp

J. Michael Stolp is Managing Member of CFO Solutions LLC, founded by Michael in 1991. CFO is a registered investment advisory and boutique financial planning firm with corporate offices in Scottsdale, Arizona. He is based and resides in Scottsdale. CFO specializes in the unique planning needs of doctors, other professionals, and small business owners, and the economic issues facing them.

Keep Your Money Safe for Retirement! You’ve worked hard. You’ve earned your savings. Don’t lose it all now on risky investments. We can help you keep your money safe and create the retirement you want, when you want it. We charge no commissions, and no client of ours has ever lost a dime who followed our risk averse philosophy. Contact one of our CFO Financial Advisors today and find out how.

At CFO Solutions, we hear the following comments all the time, “I wish I would have started this process earlier in my life”, and “I wish I would have heard about you sooner”. It’s never too late, but when it comes to preparing for the future, the sooner you start the better. An earlier start will allow your investments more time to earn and mature.

Healthy retirement planning depends on asset allocation rather than on the performance of one single investment. For this reason, we recommend that you spread your investment capital around. However, don’t just spread your savings for the sake of diversification. Be sure your investments are safe and thoroughly discussed with a professional.

(more…)

As dawn broke over a shocked Brussels, a group of European MEPs warned that last night’s astonishing Brexit vote will cause the EU to ‘crumble to pieces’ within the next five years. Their statement came as Britain voted to leave the EU, contrary to all projections by pollsters, to the bewilderment of the Eurocrats in Brussels. ‘This is the beginning of the end for the EU,’ Peter Lundgren, an MEP from the far-Right Sweden Democrat party, told MailOnline. ‘So many other countries will follow the UK. Europe will fall.’

Source: MEPs say EU will CRUMBLE within five years after Brexit result | Daily Mail Online

Few pundits saw either coming (and full disclosure, I include myself here, particularly on Trump) – but we should have and now would be a good chance to make up for past oversight by looking at how the two are linked. This week, polls suggest, Britain may pull out of the European Union. Opinion polls currently have the 23 June referendum too close to call but the Brexit camp (those in favour of the UK splitting from the EU) has been inching ahead in recent weeks. Later this year, Americans will decide whether to elect Donald Trump as the 45th US President, or Hillary Clinton.

Source: Five reasons Brexit could signal Trump winning the White House – BBC News

Central banks across the world offered the financial system fresh funds and intervened in currency markets, in an effort to reassure investors sent into panic by the U.K.’s vote to leave the European Union.After a majority of Britons voted to end their 43-year membership of the EU in a referendum, the Bank of England, the European Central Bank and the Bank of Japan issued statements stressing the availability of liquidity to keep the banking system running. The BOJ led the Swiss National Bank and the Danish central bank in displaying readiness to sell their local currencies to cap gains caused by investors seeking haven from the turmoil.The Group of Seven nations are said to plan to confer later on Friday, and officials from about 60 global monetary authorities will meet this weekend in Basel, Switzerland. Beyond the initial gyrations, central banks will face questions over how they can support growth and hit inflation targets at a time when policy instruments are already stretched, and a new threat to growth hangs over Europe in particular.

Source: Global Central Banks Raise Cash Offer to Quell Brexit Panic – Bloomberg

British voters chose to “leave” the European Union on Thursday, defying the polls — and President Barack Obama, who had urged Britain to “remain” in the EU. Former Secretary of State Hillary Clinton had also urged Britain to stay in the EU. Only Donald Trump had backed the campaign to leave.

Source: Brexit: Britain Votes for Trump over Hillary, Obama

Global markets buckled, with stocks plunging from Tokyo to London and Chicago, as the BBC projected a victory for the “Leave” campaign with most votes counted in Britain’s referendum on membership of the European Union. The pound fell the most on record, while haven assets jumped.Sterling tumbled 10 percent, the euro slid by the most since it was introduced in 1999 and the yen had its biggest surge since 1998. South Africa’s rand led losses among the currencies of commodity-exporting nations, sliding more than 6 percent as oil sank to about $47 a barrel and industrial metals slumped. Gold soared with U.S. Treasuries as investors piled into haven assets. Futures on the FTSE 100 Index plunged with S&P 500 Index contracts as Asian stocks dropped by the most in five years.

Source: Markets Jolted Worldwide as BBC Projects Brexit; Yen, Gold Jump – Bloomberg

It’s an inevitable question: Could U.S. 10-year yields turn negative now that German 10-year yields have fallen below zero for the first time ever and Japanese 10-year yields have dipped to record lows of negative 0.17 percent? According to Dennis Davitt, partner at Harvest Volatility Management and a noted options market veteran, it may well happen. “I think you could see negative rates in the U.S. If Germany and other countries in the world go even further negative, it turns into a number line game. So where zero lies on the number line, who knows?” Davitt said Tuesday on CNBC’s “Trading Nation.” He sees rates being driven lower by two factors in addition to overall slow global growth: Stimulative central bank policies and regulations.

Source: US bond yields could soon go negative: Strategist

WASHINGTON (AP) — Premiums for popular low-cost medical plans under the federal health care law are expected to go up an average of 11 percent next year, said a study that reinforced reports of sharp increases around the…

Source: Report: New evidence of rising ‘Obamacare’ premiums

Fear is on the rise and so is the price of gold. Gold futures for August hit a three-week high Thursday, rising to $1,272.70 per ounce, just under a key resistance level of $1,275. The yellow metal is up about 20 percent year to date, and some high-profile investors — like George Soros and Stanley Druckenmiller — have made no secret that they see bad times ahead in the markets and gold is a safer bet. “As far as the geopolitical element, it’s certainly not a chicken little atmosphere,” said Jim Steel, chief commodities analyst at HSBC. “I think there’s enough uncertainty facing the global economy and even some geopolitical tensions to keep buying the gold market.” Investors believing they need to have gold in their portfolio as a hedge against the outcome of easy central bank policies and for other safety reasons are fueling a run in the metal. Some analysts say gold could easily climb above $1,300 an ounce.

Source: Why big investors think it’s time to hoard gold

A two-day slump in U.S. stocks erased weekly gains in the S&P 500 as tumbling government-bond yields sparked a retreat from risky assets. Financial shares led the week’s declines as the yield on the 10-year Treasury note Friday hit its lowest settlement in three years. Government bond yields in Germany, Japan and the U.K. fell to fresh lows amid economic concerns and a coming vote on whether the U.K. will remain in the European Union Major U.S. indexes have slipped since Thursday, after rising for the first three days of the week in an advance that carried the S&P 500 near its record close. Since then, two of the forces that bolstered stocks in recent weeks—a weakening dollar and rising oil prices—have reversed.

Source: U.S. Stocks Slide as German, U.K., Japan Bond Yields Hit Fresh Lows – WSJ

Why worry later, when you can do it all right now? That sums up this market, which has catapulted itself into fretting over a couple of looming events: Brexit, still 12 days out, and the Fed meeting, just a few days away.Here’s fresh word on the Brexit vote from Deutsche Bank’s Jim Reid, who surveyed 1,000 investors at the DB European Leverage Finance conference. A whopping 83% predicted voters will support the U.K.staying in the EU, while 17% said the result will be for an exit — which doesn’t really jibe with the polls that have been whipping the pound around.“One would have to say that a ‘Brexit’ is probably not priced into markets, whatever that outcome might be,” says Reid. Judging by recent action, the suspense could just keep killing this market slowly.

Source: A summer panic is starting to brew across markets – MarketWatch

Federal Reserve Chair Janet Yellen on Monday sketched a generally positive picture of the economy and labor market, saying Friday’s dismal jobs report was “concerning” but policymakers still plan to gradually raise rates. She did not specify whether a rate hike at the Fed’s June 14-15 meeting was still feasible, but financial markets are giving less than 5% odds of such a move and Yellen said nothing to attempt to alter that view. She also didn’t tip her hand on the likelihood of a July rate increase, though fed fund futures say the chances are about 31%. Generally, however, Yellen emphasized the labor market’s cumulative progress and voiced only measured concern about Friday’s report, which revealed that just 38,000 jobs were added in May, a nearly six-year low. The Labor department also revised down its estimates of April employment additions to 123,000.

Source: Yellen: Weak jobs report ‘concerning;’ gradual hikes still appropriate

Dr. Peter Sutherland says there are benefits to using electronic health records but grappling with the software and new reporting requirements has slowed him down. He sees fewer patients, and his income has slipped.

Source: Why the Economic Payoff From Technology Is So Elusive – The New York Times

Your smartphone allows you to get almost instantaneous answers to the most obscure questions. It also allows you to waste hours scrolling through Facebook or looking for the latest deals on Amazon. More powerful computing systems can predict the weather better than any meteorologist or beat human champions in complex board games like chess. But for several years, economists have asked why all that technical wizardry seems to be having so little impact on the economy. The issue surfaced again recently, when the government reported disappointingly slow growth and continuing stagnation in productivity. The rate of productivity growth from 2011 to 2015 was the slowest since the five-year period ending in 1982. One place to look at this disconnect is in the doctor’s office. Dr. Peter Sutherland, a family physician in Tennessee, made the shift to computerized patient records from paper in the last few years. There are benefits to using electronic health records, Dr. Sutherland says, but grappling with the software and new reporting requirements has slowed him down. He sees fewer patients, and his income has slipped. “I’m working harder and getting a little less,” he said.

Source: Why the Economic Payoff From Technology Is So Elusive – The New York Times