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Withum Wealth Management’s sub-investment advisor, Pinnacle Associates, is mentioned for the first time in CNBC’s Top 100 Financial Advisors.
Eddie Van Halen passed away last week after a long and hard-fought battle with cancer. Mr. Van Halen was one of the most innovative and exciting geniuses to ever wield a guitar and will undoubtedly be remembered forever. For a more traditional obituary, feel free to jump over to the great piece put out by the NY Times, however in our own Withum Wealth style, we will pay tribute in another, financially oriented way.
This past week, there were some major developments reminding us that COVID is still impacting our daily lives. Cases are rising again in many cities in the US and around the globe – Europe seems to be at the start of a second wave – and news was released that our President and the First Lady have tested positive for the virus. While the summer brought about a sense of normalcy for many, there is no question that this virus is far from gone.
With the rise of streaming giants and in an era of cord cutting, many were questioning the longer-term sustainability of movie theaters. Throw in a global pandemic where no one should be closer than six feet, and we are seeing many technology-driven trends accelerate to new extremes and some old guard businesses continue to decline. Movie theaters are no exception.
TikTok, known in China as Douyin, is a video-sharing social networking service that has a forced deadline ahead with potentially long-lasting political and economic implications.
Change is in the air. After nearly 100 years, Exxon Mobil is being removed from the Dow Jones Industrial Average, along with Pfizer and Raytheon Technologies. Newcomers are biotech giant, Amgen, manufacturing conglomerate, Honeywell, and enterprise software giant, Salesforce.com. These index changes are fairly common, however this one is particularly interesting and brings into question why the heck the Dow became so popular in the first place.
For anyone that has seen the Oscar nominated movie, Ford vs. Ferrari, you know how this tale worked out. Situated in the 1960s, Ford’s product line was called into question and their inability to compete on the racetrack was turned into motivation for what eventually created the GT40. If you have not seen it, well… we won’t spoil it for you as it’s a worthwhile Quarantine movie.
At Withum Wealth Management, we recognize the fact that Federal tax reform has escalated the cost of living in New Jersey, New York, Connecticut, and Illinois, among other states.