Morningstar Advisor - Fall 2008 - 13

“We are looking to take some tax losses while rebalancing and positioning our portfolios for the coming upturn in the markets. Quick Poll (872 responses; poll taken between Sept. 29 and Oct. 2) 1 The most fiscally responsible way for the new president and Congress to solve the government’s economic mess is to 4 Are you taking action now to better position clients’ portfolios for higher tax rates? We are not predicting when the upturn will occur, but we believe things will return to the mean, and when they do, we want to be well positioned.” Jim Roach PlanFirst, Greenville, SC “It’s not that taxes might go up. No. They will go up. Social Security and Medicare costs continue to soar, and national infrastructure is in serious need of repair. Now, the banking crisis is heaped on top of an already perilous federal money mismanagement program. Increase revenues Cut spending Both 3.7% 44.8% 51.5% Yes No 57.9% 42.1% Tax strategy is a key component of any financial plan. I continue to promote full funding of Roth IRA and Roth 401k contributions as a way to diversify investment holdings from a tax perspective. We are also using life insurance to create tax-free estate-planning solutions and annuities to get money out of taxable CDs and into deferred interest programs. Not to be forgotten, but much in need—529 plans.” Craig Adamson Adamson Financial Planning, Marion, IA 2 Where are taxes headed? 5 It’s October 2008, but by the look of things, it could be Up Down Same 88.9% 2.2% 8.9% October 1929 1 October 1973 2 August 1982 3 February 1989 4 March 2000 5 15.4% 19.6% 8.2% 48.5% 8.3% “We are very tax aware and harvest tax losses annually. As a general rule, we have been exiting out of low-basis stocks for new clients for the past four tax years on the assumption that current tax laws will sunset in 2010.” Donald C. DeWees, Jr. DeWees Investment Consulting Group of Wachovia Securities, Greenville, DE 3 Which tax increase would have the greatest effect on your clients? 1. Stock market crashes Oct. 24, 28, and 29, and the Great Depression begins soon after. Market doesn’t return to pre-crash levels until after World War II. 2. OPEC imposes oil embargo against the U.S. and other countries in retaliation for supporting Israel in the Yom Kippur War. In the U.S., an era of stagflation ensues. 3. Bull market begins. The Dow and S&P 500 average double-digit annual returns through 1999. 4. President George Bush announces savings and loan bailout plan. Later that year, federal government creates the Resolution Trust Corp. to deal with insolvent S&Ls. 5. Dot-com stock market bubble bursts, ending bull market. Qualified dividends Marginal rate Capital gains Social Security wages Corporate 10.3% 44.2% 30.6% 11.3% 3.6% MorningstarAdvisor.com 13
http://www.MorningstarAdvisor.com

Morningstar Advisor - Fall 2008

Table of Contents for the Digital Edition of Morningstar Advisor - Fall 2008

Morningstar Advisor - Fall 2008
Contents
New on MorningstarAdvisor.com
Letter from the Editor
Contributors
Inbox
Are You Preparing for Higher Taxes?
State of Financials
Oracles of Alabama
Investment Briefs
Managers’ Investment Secrets Revealed
Conformity Becomes a Growing Concern at American
Gimme Shelter
Location, Location, Location
Rooted in Buffett, Going for Growth
Keeping Little Company
Away from the Numbers
Consumer Confidence
What about Natural Gas?
TIPS to Beat Back Inflation
Investing in Hidden Assets
Funds That Have an Edge Come Tax Time
Mutual Fund Analyst Picks
50 Most Popular Equity ETFs
Undervalued Stocks
Most Popular Variable Annuities
New at Morningstar
One for You, 19 for Me
Morningstar Advisor - Fall 2008 - Intro
Morningstar Advisor - Fall 2008 - Morningstar Advisor - Fall 2008
Morningstar Advisor - Fall 2008 - Cover2
Morningstar Advisor - Fall 2008 - 1
Morningstar Advisor - Fall 2008 - 2
Morningstar Advisor - Fall 2008 - Contents
Morningstar Advisor - Fall 2008 - 4
Morningstar Advisor - Fall 2008 - 5
Morningstar Advisor - Fall 2008 - New on MorningstarAdvisor.com
Morningstar Advisor - Fall 2008 - 7
Morningstar Advisor - Fall 2008 - 8
Morningstar Advisor - Fall 2008 - Letter from the Editor
Morningstar Advisor - Fall 2008 - Contributors
Morningstar Advisor - Fall 2008 - Inbox
Morningstar Advisor - Fall 2008 - Are You Preparing for Higher Taxes?
Morningstar Advisor - Fall 2008 - 13
Morningstar Advisor - Fall 2008 - State of Financials
Morningstar Advisor - Fall 2008 - 15
Morningstar Advisor - Fall 2008 - 16
Morningstar Advisor - Fall 2008 - Oracles of Alabama
Morningstar Advisor - Fall 2008 - 18
Morningstar Advisor - Fall 2008 - 19
Morningstar Advisor - Fall 2008 - 20
Morningstar Advisor - Fall 2008 - Investment Briefs
Morningstar Advisor - Fall 2008 - 22
Morningstar Advisor - Fall 2008 - 23
Morningstar Advisor - Fall 2008 - 24
Morningstar Advisor - Fall 2008 - 25
Morningstar Advisor - Fall 2008 - Managers’ Investment Secrets Revealed
Morningstar Advisor - Fall 2008 - 27
Morningstar Advisor - Fall 2008 - 28
Morningstar Advisor - Fall 2008 - 29
Morningstar Advisor - Fall 2008 - Conformity Becomes a Growing Concern at American
Morningstar Advisor - Fall 2008 - 31
Morningstar Advisor - Fall 2008 - 32
Morningstar Advisor - Fall 2008 - 33
Morningstar Advisor - Fall 2008 - 34
Morningstar Advisor - Fall 2008 - 35
Morningstar Advisor - Fall 2008 - Gimme Shelter
Morningstar Advisor - Fall 2008 - 37
Morningstar Advisor - Fall 2008 - 38
Morningstar Advisor - Fall 2008 - 39
Morningstar Advisor - Fall 2008 - Location, Location, Location
Morningstar Advisor - Fall 2008 - 41
Morningstar Advisor - Fall 2008 - 42
Morningstar Advisor - Fall 2008 - 43
Morningstar Advisor - Fall 2008 - 44
Morningstar Advisor - Fall 2008 - Rooted in Buffett, Going for Growth
Morningstar Advisor - Fall 2008 - 46
Morningstar Advisor - Fall 2008 - 47
Morningstar Advisor - Fall 2008 - 48
Morningstar Advisor - Fall 2008 - 49
Morningstar Advisor - Fall 2008 - 50
Morningstar Advisor - Fall 2008 - 51
Morningstar Advisor - Fall 2008 - 52
Morningstar Advisor - Fall 2008 - 53
Morningstar Advisor - Fall 2008 - Keeping Little Company
Morningstar Advisor - Fall 2008 - 55
Morningstar Advisor - Fall 2008 - 56
Morningstar Advisor - Fall 2008 - 57
Morningstar Advisor - Fall 2008 - Away from the Numbers
Morningstar Advisor - Fall 2008 - 59
Morningstar Advisor - Fall 2008 - 60
Morningstar Advisor - Fall 2008 - 61
Morningstar Advisor - Fall 2008 - Consumer Confidence
Morningstar Advisor - Fall 2008 - 63
Morningstar Advisor - Fall 2008 - 64
Morningstar Advisor - Fall 2008 - 65
Morningstar Advisor - Fall 2008 - 66
Morningstar Advisor - Fall 2008 - 67
Morningstar Advisor - Fall 2008 - 68
Morningstar Advisor - Fall 2008 - What about Natural Gas?
Morningstar Advisor - Fall 2008 - 70
Morningstar Advisor - Fall 2008 - 71
Morningstar Advisor - Fall 2008 - 72
Morningstar Advisor - Fall 2008 - TIPS to Beat Back Inflation
Morningstar Advisor - Fall 2008 - 74
Morningstar Advisor - Fall 2008 - 75
Morningstar Advisor - Fall 2008 - Investing in Hidden Assets
Morningstar Advisor - Fall 2008 - 77
Morningstar Advisor - Fall 2008 - Funds That Have an Edge Come Tax Time
Morningstar Advisor - Fall 2008 - 79
Morningstar Advisor - Fall 2008 - 80
Morningstar Advisor - Fall 2008 - 81
Morningstar Advisor - Fall 2008 - Mutual Fund Analyst Picks
Morningstar Advisor - Fall 2008 - 83
Morningstar Advisor - Fall 2008 - 84
Morningstar Advisor - Fall 2008 - 85
Morningstar Advisor - Fall 2008 - 50 Most Popular Equity ETFs
Morningstar Advisor - Fall 2008 - 87
Morningstar Advisor - Fall 2008 - Undervalued Stocks
Morningstar Advisor - Fall 2008 - 89
Morningstar Advisor - Fall 2008 - 90
Morningstar Advisor - Fall 2008 - 91
Morningstar Advisor - Fall 2008 - Most Popular Variable Annuities
Morningstar Advisor - Fall 2008 - 93
Morningstar Advisor - Fall 2008 - 94
Morningstar Advisor - Fall 2008 - New at Morningstar
Morningstar Advisor - Fall 2008 - One for You, 19 for Me
Morningstar Advisor - Fall 2008 - Cover3
Morningstar Advisor - Fall 2008 - Cover4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2021q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2021q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2021q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q4
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q3
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q2
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2020q1
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019winter
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019fall
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019summer
https://www.nxtbook.com/nxtbooks/morningstar/magazine_2019spring
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20191201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20181011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20180203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20181201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20171011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20170203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20171201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20161011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20160203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20161201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20151011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20150203
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20151201
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20141011
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140809
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140607
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140405
https://www.nxtbook.com/nxtbooks/morningstar/magazine_20140203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20141201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20131011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20130203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20131201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20121011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120405
https://www.nxtbook.com/nxtbooks/morningstar/investorconference2012
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20120203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20121201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20111011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20110203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20111201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20101011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100809_lincoln
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100607_lincoln
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100405_lincoln
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20100203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20101201
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20091011
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090809
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090607
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090405
https://www.nxtbook.com/nxtbooks/morningstar/advisor_20090203
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008fall
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008summer
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007spring
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007fall
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2007summer
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008spring
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008catalog
https://www.nxtbook.com/nxtbooks/morningstar/advisor_2008winter
https://www.nxtbookmedia.com