For the first time in history, the S&P 500 is dominated by the top six stocks. Roughly 25% of the index’s market capitalization is comprised of Facebook (now Meta), Amazon, Apple, Microsoft, Tesla, and Google (Alphabet). Their domination of the index is bigger than any other bubble or period, including the Dot Com bubble. What’s […]
Congress passed the Bipartisan Infrastructure Deal (Infrastructure Investment and Jobs Act) on November 6th. This $1.2 trillion package is one of the largest ever passed, and it represented a key economic milestone for The Biden Administration. According to the White House, the bill will “rebuild America’s roads, bridges, and rails, expand access to clean drinking […]
Third quarter earnings are led by strong performance in the financial sector looking towards a staggering 45% year-over-year growth for corporate earnings according to Fidelity. This is the fourth quarter in a row that corporate earnings trended towards a surprise upside, helped in large part by a strong boost in commodity prices due to increased […]
Lake Street is excited to welcome private wealth veterans, Brian DeGrado and Steve Weber, to the team! Brian will join the firm as a Senior Vice President with 20+ years of experience counseling ultra-high net worth individuals and their families. Steve has been working alongside Brian the past year 5 years at both JPMorgan and […]
Congratulations to Lake Street’s own, Justin M. Terzo, CPA, for being named to the 2021 Forbes “Top Next-Generation Wealth Advisors” list! Justin is ranked 5th in Illinois, and it is his 3rd time receiving this recognition. The Forbes Next-Generation Wealth Advisor list is awarded to the top 500 advisors in the county who represent the […]
The London interbank offered rate (LIBOR) is one of the most famous and essential financial benchmarks in the world because it dictated how interest rates change for both commercial and consumer debt. However, after a series of scandals and a lack of quantitative substance, the secured overnight financing rate (SOFR) will replace LIBOR in the […]
August continues the trend of all-time highs for the equity markets, which is boosting confidence in derivatives, cryptocurrencies, and other alternative investments. The combination of strong consumer demand, impressive Q2 quarterly earnings, and economic optimism pushed the Dow Jones, Nasdaq, and S&P 500 to record highs, thanks in large part to outperformance by many financial […]
Anuj brings deep industry knowledge to the group having served in many facets of asset and wealth management the past 20 years; the last eight with Wells Fargo. “We continue to see the most talented advisors leaving the wirehouses for independence. Carrying the label of a fiduciary and operating in an environment without conflicts of […]
Position: Tax Manager Job Description: Lake Street is looking for an experienced tax professional with an entrepreneurial spirit to help launch “Lake Street Tax & Family Office Services” to complement our rapidly growing wealth management business. Lake Street is approaching $1 billion in client assets under management, representing 400 households across 37 states. This individual […]
June ended on a strong note for stocks, as the banking sector led the S&P 500 to a record high, making it the 33rd time this year that the index reached a new record. This was the fifth straight month of gains for the S&P, which has already gained 14% on the year. Stocks were […]
