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Welcome to the Beese Fulmer Wealth Management Commentary. Researched and written by Beese Fulmer experts, these articles unravel the mysteries and expertly guide investors with information and counsel honed over decades of experience. Visit often for more articles or subscribe to our RSS feed below.

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  • Question: “Will local refiner Marathon Petroleum be a beneficiary of Trump’s energy policy?”

    By: Ryan Fulmer
    Saturday, December 31, 2016

    It might surprise you to know that one of the largest refineries in North America, Marathon Petroleum, is headquartered about two hours away in Findlay, Ohio. Marathon operates seven refineries, one of which is located here in Canton and produces about 93,000 barrels of refined products per day.

  • Hope and Change: Will Trump’s Infrastructure Plan Help the Economy?

    By: Dennis Fulmer, CFA
    Saturday, December 31, 2016

    President-elect Trump is reported to be creating a task force to implement his campaign promise to increase infrastructure spending. After reviewing his website, we like reading about a “deficit-neutral plan… that supports investments in transportation, clean water, a modern and reliable electricity grid, telecommunications, security infrastructure, and other pressing domestic infrastructure needs.”

  • Tariffs and the Great Depression

    By: Lynn Hamilton
    Wednesday, March 1, 2017

    Since the Great Depression, tariffs and trade policies have not been major issues between Democrats and Republicans or Conservatives and Liberals. All Presidential candidates (until the election of 2016) have either favored stability or a more open international trade policy.

  • Can Trump Deliver on Promises Made?

    By: Nick Perini, CFA
    Saturday, December 31, 2016

    What once seemed improbable, if not impossible, is now a reality, and the markets have confidently voiced their opinion. The performance of the equity markets since the Presidential election reveals that investors believe the policies of President-Elect Donald Trump are good for the American economy and American business. Stocks are up, bonds are down, and everyone is waiting to see what Donald Trump can do once he is sworn in on January 20.

  • What are the top two questions clients are asking after the Presidential election?

    By: Ryan Fulmer
    Tuesday, December 13, 2016
    1. Will the Presidential election affect the trajectory of interest rates?
    2. How will the stock market perform in 2017?

     

  • Post-Election Stock Market Insights

    By: Dennis Fulmer
    Wednesday, November 9, 2016

    Our colleague Lynn Hamilton, after a few recent road trips through the rural parts of the Midwest, commented that he had seen a lot of yard signs for Trump and almost none for Clinton.  This comment now looks prescient as Trump’s victory appears to have been driven by a strong turnout by working middle-class voters in rural counties across America.

  • Top 4 Post Trump Win Takeaways

    By: Ryan Fulmer
    Wednesday, November 9, 2016

    1.Changes to Interest Rate Policy:  The Federal Reserve which is the government body responsible for setting interest rates is currently chaired by Janet Yellen and her term is set to expire in February 2018.  

  • When Will TimkenSteel's Stock Price Bottom?

    By: Ryan T. Fulmer
    Tuesday, October 25, 2016

    In the July edition of Ask the Investor, I wrote about The Timken Company (TKR) and the transformative changes that have occurred after the spin-off of TimkenSteel. I am often asked by clients and friends about TimkenSteel (TMST) and whether the stock price has finally bottomed.

  • Third Quarter Investment Outlook

    By: Dennis Fulmer, CFA
    Friday, October 14, 2016

    The goals of the law were to reduce the number of people without health insurance and to improve health outcomes.  Passed in 2010, it overhauled the healthcare industry by incentivizing insurance coverage, expanding Medicaid and reforming Medicare, and established insurance exchanges in many states. The Medicare reforms probably are the most significant parts of the law, as they wish to move the industry away from the “Fee For Service model” (FFS) and encourage the development of “integrated healthcare providers,” also known as Accountable Care organizations—Medical Homes which are similar to what you may know as “Managed Care Organizations.”  The Medicare reforms also include moving towards “bundled payments,” meaning a provider pays one lump sum per episode of care, such as a hip replacement, and the provider figures out the best way to treat the patient and keep the costs below the lump-sum amount.   In the FFS model, the providers get no reward for good outcomes and bear no risk for bad ones.  This contrasts with the Accountable Care Organizations where doctors, hospitals, and specialists work together to meet quality and cost targets.   Doctors would be salaried and, therefore, would have no financial incentive to order unneeded procedures.

  • Third Quarter Investment Outlook

    By: Lynn Hamilton
    Friday, October 14, 2016

    As one can see from the included chart, the stock market tends to do best the year before a Presidential election.   Reason: a first-term president would like to be re-elected, and a two-term president would prefer their party wins the election, as sort of a “confirmation.”   It is very rare for any president to win more than 60% of the popular vote.  The “swing voter” mostly tends to “vote the economy,” so the incumbent president wants the economy to be performing well that year.  There also might be a desire to “get the painful stuff done” during the first year of the term.  Since the stock market leads the economy by about a year, it makes sense that the third year of a president’s term has the best stock market returns.

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  • Focus on the Fundamentals
    Monday, July 16, 2018

    It sure is easy to find something to dislike in the market these days. Whether it is the threat of an international trade war, rising interest rates, or general political tension, the bears certainly seem to have the ammunition on their side.

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