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Mike (original)


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John Herman



Roger Stolp

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Russell Stolp

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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.


The global economy seems trapped in a “death spiral” that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi strategists have warned.Some analysts — including those at Citi — have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S.”The world appears to be trapped in a circular reference death spiral,” Citi strategists led by Jonathan Stubbs said in a report on Thursday.

Source: Citi: World economy trapped in ‘death spiral’

The Locus robot can zip around a clothing warehouse larger than the size of six football fields. It can also work for 24 hours, without a break for lunch or a salary.The new bot, created by Locus Robotics, just launched in its first warehouse: a Devens, Massachusetts space owned by Quiet Logistics, a warehousing company that fills online orders for both small startups and megabrands like Zara and Bonobos. The robots transport items that have been picked off the shelves by humans, and bring them to the front of the warehouse to be sealed and delivered.”We developed a system where the robots do all the walking,” Locus Robotics CEO Bruce Welty tells Tech Insider. “As retailers continue to exceed expectation around next-day shipping, they’re going to look to technology to help them provide an even faster turn-around.”

Source: Robots in warehouses for online shopping – Tech Insider

NEW YORK (Reuters) – U.S. companies are growing more concerned about the prospects of a recession in the year ahead for the first time since the end of the financial crisis. So far this year, the number of companies whose executives have mentioned recession concerns to analysts and investors is up 33 percent from the same period a year ago; the first such increase since 2009. Some 92 companies have discussed a U.S. recession in their earnings calls, according to Thomson Reuters data.

Source: U.S. CEOs unleash recession fears in earnings calls – Yahoo News

FRANKFURT, Germany (AP) — Swiss bank UBS saw its shares slide on Tuesday on news that investors had pulled billions out of its division serving wealthy clients – a token of the market turbulence that has shaken the world in the past few months. The Zurich-based bank, which nevertheless booked higher fourth quarter profits, cited “very low levels of client activity and pronounced risk aversion” as it reported 3.4 billion Swiss francs ($3.3 billion) had flowed out of its wealth management arm, which handles money from rich people outside the U.S. Fourth-quarter outflows from clients in emerging markets and in Europe outweighed inflows in the Asia Pacific region and Switzerland.

Source: News from The Associated Press

Embattled Internet pioneer Yahoo will announce job cuts when it releases its quarterly earnings report on Tuesday, according to a report in The Wall Street Journal. Yahoo chief executive Marissa Mayer will lay out a cost-cutting plan that includes chopping 15 percent of the work force, an estimate 1,600 positions, the Journal said citing unnamed people close to the matter. The cuts would come as a key investor in Yahoo pressures the board of directors for a management change.

Source: Yahoo to announce job cuts: report – Yahoo News

The capital spending slump that originated in the hard-hit energy sector appears to be spreading more widely across other U.S. industries. Companies cutting or flat-lining their capital expenditures in 2016 outpace those that say they will increase spending by a factor of more than two to one, according to a Reuters analysis. Companies in industries as diverse – and relatively strong – as healthcare, consumer goods and restaurants are among those tightening their belts in yet another sign that economic growth in 2016 may be anemic.

Source: Fearing lean times, U.S. companies tighten purse strings

As interest rates turn negative around the world, the Federal Reserve is asking banks to consider the possibility of the same happening in the U.S. In its annual stress test for 2016, the Fed said it will assess the resilience of big banks to a number of possible situations, including one where the rate on the three-month U.S. Treasury bill stays below zero for a prolonged period. “The severely adverse scenario is characterized by a severe global recession, accompanied by a period of heightened corporate financial stress and negative yields for short-term U.S. Treasury securities,” the central bank said in announcing the stress tests last week.

Source: The Fed Wants to Test How Banks Would Handle Negative Rates – Bloomberg Business

John Herman CFP

John C. Herman CFP® is the Investment Manager for CFO Solutions LLC, a boutique financial planning firm with corporate offices in Scottsdale, Arizona. He is based and resides in Boulder, Colorado. CFO is an independent, boutique financial planning and registered investment advisory firm which specializes in the unique planning needs of doctors, other professionals and small business owners, and the economic issues facing them.

We’re always told that consistent economic growth will get us out of all our fiscal problems. That’s not true, although it would certainly help. We recently told you that deficit projections for coming years are looking pretty scary, and even those projections depend on some pretty rosy assumptions about future economic growth. The Congressional Budget Office is assuming 2.7 percent growth this year and 2.5 percent next year. Is that warranted considering that we’ve averaged just barely above 2 percent since 2010? The news that came out on Friday certainly isn’t encouraging. The gross domestic product sputtered to growth of only 0.7 percent in the fourth quarter of 2015 – which, for those of you keeping score, is terrible.

Source: Politics: Ouch: U.S. economy stumbles with 0.7 percent growth in 4Q 2015 | Best of Cain

As Janet Yellen, chair of the Federal Reserve, was preparing last month for the first increase in US interest rates for a decade, protesters in New York’s financial district were holding a candlelight vigil bemoaning the end of near-zero monetary policy.In the crowd bearing illuminated signs saying “what recovery?” and “wage growth is good” was Mauricio Jimenez, a 44-year-old construction worker from Queens, who warned against the move as he stood outside the New York Fed.

Source: Federal Reserve: Credibility on the line –

U.S. stocks retreated as the Federal Reserve signaled that financial-market turmoil may pose risks to its outlook for the U.S. economy. The dollar fell a third day versus the euro, while Treasuries held losses. The Standard & Poor’s 500 Index sank as the Fed said it is “closely monitoring” developments from China to Europe and the oil patch for any adverse impact on the U.S. economy. Apple Inc. and Boeing Co. plunged on disappointing results as the two accounted for more than half of the Dow Jones Industrial Average’s 223-point slide. The yield on 10-year Treasury notes rose toward 2 percent, as the Fed kept rates unchanged and said any future hikes would be gradual. Crude advanced past $32 a barrel. Gold gained.

Source: U.S. Stocks Fall as Fed Sees Risks, Apple Sinks; Crude Advances – Bloomberg Business

The Federal Reserve opted not to raise interest rates at its January meeting and gave no indication that it was changing course on its rate-hiking path ahead.Amid substantial turmoil in financial markets, the Federal Open Market Committee statement issued Wednesday did say it was “closely monitoring global economic and financial developments,” referring to the volatility that led most of Wall Street to dismiss the possibility of a rate hike this month.Major stock averages sold off immediately after the statement as Wall Street parsed out Fed language for how hawkish the U.S. central bank will be through the rest of the year.

Source: The Fed holds rates unchanged

The Dow Jones and S&P 500 indexes closed 1.56% and 1.2% down, after tumbling more than 3% earlier. The main European stock exchanges also slid to a 15-month low. Analysts say investors fear low oil prices reflect a fall in demand for fuel which could be a sign that growth in the global economy is slowing down. The falls in Europe and the US came after Asian stocks closed sharply lower. Markets in Dubai closed at a 28-month low, while in Japan shares fell to their lowest level since October 2014. Many markets are now in so-called bear market territory – a fall of 20% or more from their most recent peak.

Source: Global stock markets fall amid oil rout – BBC News