A quick review of the Estate Tax Part 3: Estate Tax Return Assets video and the final holdings of the wealthiest 13,429 Americans who outlived their assets in 2016.

I had more people call me about GameStop than any other market event so I made a video to explain my thoughts on it.

By the end of 1932, official unemployment had reached 25.2% and Real Gross Domestic Product (GDP), an indication of a country’s economic output to be distributed to citizens, had fallen by -12.9%. By comparison, the highest official unemployment rate during the 2008-2009 Financial Crisis was 9.9% and the loss to Real GDP was a fraction of that in 1932 at -0.29% in 2008 and -2.78% in 2009. On March 3, 1933, during his inaugural speech, President Franklin D. Roosevelt stated, “

A common metric to evaluate investments is the Price to Earnings Ratio (PE Ratio). Imagine buying a company that makes $10,000 a year for $100,000. The PE Ratio would be 10 because a price of $100,000 divided by earnings of $10,000 is 10. If an investor paid $200,000 for the same company, the PE Ratio would be 20 and the possibility for overpayment would have increased. On a historic basis, the stock market (S&P 500®) trades at 15 to 17 times earnings. The fact that the stock