Marc To Markets

Send us a textOn this podcast I cover the recent volatility in the market. We discuss everything including today's market moves as they occured. Among the topics covered:The recent market volatility and the reasons behind it.The impact of tariff policy on markets, the economy, and global tradeA broad look at performance beyond just the S&P 500. This includes International and Emerging Equity Markets, Real Assets, Core Bond and High Yield Bond Markets.The benefits of diversification year-to-date.Probability of loss across a range of asset allocation strategies.The notion of buying opportunistically during market pullbacks. Does it make sense? If so, for who?Fed policy going forward and the impact on interest rates.How to think about long-term financial planning during periods of volatility.The impact of market timing during periods of capital markets stress.I was joined by Roosevelt Bowman, a Senior Investment Strategist at Bernstein. Many of you know Roosevelt. This episode is a replay of a client webinar from April 10, 2025.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein.

Send us a textOn this episode I'm joined by Matt Norton, the Chief Investment Officer for Municipal Investing at Bernstein.  Matt and I discuss the importance of municipal bonds in an investment strategy. Among the topics we discuss: The pros and cons of a buy and hold strategy, the importance of credit research, how Matt's team uses AI and data science, the outlook for interest rates, and the financial health of state and local governments. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

Send us a textOn this episode I review markets in 2024 and share the outlook for 2025. Topics include:The state of the economy Our outlook for interest rates and fed policyWhat election results mean for the economy, markets, and tax policyThe potential collision course between the bond market, the fed, and proposed policiesAIs impact on the stock market and current valuation levelsThis episode is a replay of a client webinar from January 2025.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein.

Send us a textOn this episode I'm joined by Anne Bucciarelli, a Director in Bernstein's Wealth Strategies Group, who focuses on Family Engagement within the Ultra-High Net Worth space. Anne and I discuss her team's recently released research piece "Wealth Beyond Measure". The research sits at the intersection of wealth, business, and family. Anne's team interviewed families with net worths ranging from $100 million to $4 billion. On the podcast, we review the research and learn the top concerns for these families and discuss key insights learned from the interviews.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should 

Send us a textThe stock and bond markets continued to rally through the 3rd quarter. Investors are excited about the growth of their portfolios and also nervous about the future. For the first time in years, the Fed has cut interest rates. Topics covered include: the impact of elections on markets under various scenarios, the performance of stock and bond markets, how to think about bonds and cash in an environment of declining interest rates, how the national debt figures into the picture, and other timely issues.This episode is a replay of a client webinar from November 2024.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein.

Send us a textEarlier this month I was joined in New York City for a lunch and learn with Chris Cillizza, the author of the book Power Players: Sports, Politics, and the American Presidency.   This episode is the recording of that discussion. Chris talks about various President's unique relationship with sports and the insights you can gain into understanding their Presidency through looking at them through this lend. He discussed how Presidents use sports to help them connect with the American public, other politicians, and craft their image. Chris also talks about the upcoming 2024 election. We end with a discussion of the state of journalism today. With any questions or comments, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates

Send us a textHow risky is the national debt? What's the different between the deficit and the national debt? How long until the debt becomes a problem? What can we do about it? Are the solutions only political? As an investor, how does the increase in the national debt impact how you allocate capital today? I dig into all of these questions and more with Chris Brigham, a Senior Research Analyst at Bernstein, who has led much of a research on the US national debt.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation.

The first half of the year was largely very productive for investors. Stocks reached new highs while bonds held steady with yields as high as we have seen in over a  decade. I'll cover the following topics and more:  The performance of stock and bonds markets year-to-date;The outlook for inflation, the fed, and interest rates;What is driving the stock market higher and how to think about it going forward;Is AI a game changer for investing;How the election might impact the economy and markets.This episode is a replay of a client webinar from July 2024.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein.

On this episode I'm joined by Roosevelt Bowman, Senior Investment Strategist at Bernstein.  Roosevelt and I discuss all the hot topics in the markets today: Fed policy, inflation and interest rates, the outlook for the stock market, S&P 500 concentration, and how to be opportunistic.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The importance of creating a financial plan, in which care for a loved one is paramount, is critical for many investors. In some cases, these plans include creating a Special Needs Trust ("SNT") as well as maximizing government assistance from Social Security and Medicaid. On this episode we dive deep into this important topic with Ashley Velategui, a Director in Bernstein's Wealth Strategies Group. We explain how Special Needs Trusts work, their special features, and how to most effectively create them. Ashley demystifies the complexity behind many of the government assistance programs and highlights strategies to maximize benefits. We also explain ABLE Accounts and how they can be a part of the overall plan. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The first quarter was terrific for stocks, but just two weeks into April that may already feel like a distant memory. As  discussed in my last quarterly update, the fed and interest rates were the focus to start the year. And while the delay in interest rate cuts came as a surprise to most market participants, it was in line with my outlook last quarter. Topics covered in this episode include: The state of the economy and why delayed rate cuts shouldn't come as a surpriseThe performance of stock and bond markets both in the US and globally in Q1How to think about bonds and cash with money markets paying 5%How the “magnificent 7” stocks performed in Q1 and how to think about them nowWhere most investors sit today versus their long-term planThe impact of elections on marketsThis episode is a replay of a client webinar from April  2024.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceB

Everywhere you look people are talking about Artificial Intelligence (AI). How will AI change the world? Will AI put millions of people out of work? Will AI mean a stock market boom or the end of many companies as we know them? Why is AI powering the S&P 500 gains of the past 6 months and is it sustainable? I dig into all of these questions and more with Chris Brigham, a Senior Research Analyst at Bernstein, who has led much of a research on Artificial Intelligence.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicit

As we get closer to April 15th taxes take center stage. On this episode I walk you through all the reporting information to pass along to your accountant or tax preparer. I cover when reports will be released, which reports to use, which reports are best for each account type and need. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

2023 was an interesting year for stocks. Commonly held worries about inflation and a slowing economy were proven incorrect. After 3 quarters of middling returns for stocks and negative returns for bonds, 4th quarter was a period of enormous gains for investors across all asset classes. On this episode I cover 2023 with a focus on 4th quarter and provide the outlook for where go from here.The performance of stock and bonds markets in 4Q 2023 and for the full year;The likely path for the economy and interest rates;A deep dive into the impact of the “magnificent 7” stocks on index performance and how to think about them in 2024;What investors do now, especially as many have accumulated large cash and money market positions;How to think about election years impact on market performance.This episode is a replay of a client webinar from January 2024.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The end of the year always comes with lots of discussions about capital gains, income, and all aspects of taxes. This episode is a deep dive on taxes and how best to manage a portfolio to limit the tax liability. To learn more I'm joined by John McLaughlin, the Director of Tax and Transition Services at Bernstein. We cover everything from how managing for after-tax return is not only an end-of-year exercise; how to customize a portfolio for every investors unique tax circumstances; the development of a portfolio specifically designed to track the markets but with better after-tax returns; amongst other topics.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service spon

The 3rd quarter was a period of change for investors. Stocks continued to rally early in the summer but then as investors began to digest a new interest rate regime, stock and bond markets sold off meaningfully to end the quarter. Treasury yields have risen to rates not seen in over 15 years. On this podcast I delve into the following topics and more:  The performance of stock and bonds markets year-to-date;Why the economy continues to be resilient in the face of much higher interest rates; The outlook for inflation, the fed, and interest rates;How to invest in stock and bond markets during periods of volatility;Why I believe the bond market is acting more like the stock market;Where opportunity exists today.This episode is a replay of a client webinar from October 2023.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

As the world gets smaller more and more families are living cross border lives. With family members living in multiple countries the planning concepts and tax considerations only get more complex. To learn more about how global families have unique investment and financial planning challenges I'm joined on this episode by Chris Opie, a Managing Director at Bernstein who leads the firm's global families practice. We cover everything from the complications of US citizens marrying not US person,  estate tax challenges, managing multiple currencies, amongst other topics. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The first half of the year had stocks in rally mode and bond markets stabilizing. We have reached the inflection point where the next steps by the Fed are likely to decide the course of markets over the remainder of the year. On this episode I cover: The performance of stock and bonds markets year-to-date;Why the US stock market is up so much;The recession that's always predicted by some but has yet to arrive;How to play the bond market with rates now much higher;Our outlook for inflation;The most compelling opportunities today.This episode is a replay of a client webinar from July 2023.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode I'm joined by Roosevelt Bowman, Senior Investment Strategist at Bernstein.  Roosevelt and I discuss all the hot topics in the markets today; fed policy, inflation, the banking crisis, the debt ceiling, and how to be opportunistic.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The first quarter saw a recovery in both stock and bond markets but questions and worries remain. Topics covered include:The performance of stock and bonds markets year-to-date;A deep dive on bond portfolio positioning;The impact of the Silicon Valley Bank failure;The outlook for inflation, the fed, and interest rates;Planning for the debt ceiling;Projections for returns across various asset classes moving forward.This episode is a replay of a client webinar from April 2023.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The Setting Every Community Up for Retirement Enhancement (“SECURE”) Act of 2019 was the most significant retirement-related legislation since the Pension Protection Act of 2006. The Act significantly altered the estate planning landscape for retirement account owners by eliminating the stretch IRA for most non-spouse beneficiaries and introducing new rules for trust beneficiaries. To learn more about tax and estate planning with retirement account I'm joined on this episode by Bernstein National Director of Tax Research Bob Dietz.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode, I'm joined by Jed Lewin, an expert real estate broker at The Agency. Jed and I discuss all aspects of the residential real estate market from both the buyer and seller's perspectives. We address how buyers can make their offers more attractive, and Jed shares his advice on how to position your property for sale. We also assess how rising interest rates are changing the real estate market. We dive into the complexities of the NYC market and get Jed's outlook for the residential real estate market. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

After a historically bad year for both equity and fixed income markets investors are wondering if the traditional stock/bond asset allocation framework is broken. At the same time alternative asset classes such as private equity, private credit, hedge funds, and even crypto have all risen in popularity. How does this all come together for investors? How should investors think about the risks and rewards when moving outside the traditional stock/bond asset allocation framework? To explore these and other topics I'm joined on this episode by Deacon Turner, Senior National Managing Director at Bernstein Private Wealth Management.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode we focus on how best to protect your assets from fraud, identity theft, and all other forms of financial crime.   I'm joined by FBI Supervising Special Agent Milan Kosanovich.  Milan specializes in white collar crime and has spoken internationally on topics ranging from cybersecurity, cryptocurrency, and corporate fraud.   We cover everything from ways to protect your credit, best practices for password management, and avoiding complex financial schemes.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

Stock and bond markets continued to decline in the 3rd quarter.  This made for one of the more difficult investing environments in a number of years.  But there is a path forward and a way to manage your finances through this period of volatility.  On this episode  I cover:How we got here and where we go from hereThe fed rate hiking policy and what it means for both the economy and marketsThe impact and outlook for bonds given the rise in interest ratesMaximizing return on cash today when bank yields are low but money market and treasury rates have jumpedHow to best manage portfolios in such an uncertain world This episode is a replay of a client webinar from October 12, 2022.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

So much economic news has been coming out of the US that it is easy to forget about the investment landscape across the rest of the globe.  On this podcast we focus on international investing.  To learn more about the topic I'm joined by Moira McLachlan, a Senior Investment Strategist at Bernstein.  Our discussion ranges from why investors should look overseas, to handling geopolitical risk, investing in China, considering emerging markets, and more.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

Market volatility across nearly all asset classes dominated the 1st half of 2022.  Inflation worries and recession concerns are contrasted by a strong labor market and continued growth of corporate earnings.  On this webinar I cover:The likelihood of a recessionWhat the stock and bond markets are currently pricing inIf inflation has peakedHow to think about bonds while interest rates riseShould you be buying now, and if so, what and how?This episode is a replay of a client webinar from August 1, 2022.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

No two families are the same and no two families think about their wealth the same way.   The success of a financial plan strikes the right balance between the monetary goals and emotional well-being.   To learn more about how this can be done, I'm joined by Anne Bucciarelli, a Director in Bernstein's Family Engagement Institute.   We cover a range of topics from: How do I ensure that my heirs have the necessary skills and to successfully steward our family's wealth?  What is the “right way” to begin talking to family about the extent of our fortune? How do we make collective decisions about our family business, prosperity, and philanthropic efforts?  How do we navigate and prepare for transitions (death, businesssuccession or sale, marriage)?With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The start of 2022 has been a difficult year in both stock and bond markets.  This episode is a replay of a client webinar from May 25, 2022.  Topics I covered include: Our forecast for the economyWhere the stock and bond market go from herePositioning updates in portfoliosThis episode is a replay of a client webinar from May 25, 2022.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

Environmental, Social, and Governance Investing is a topic on every financial tv show, radio program, and newspaper.  ESG can be a catch all term that ranges from "green investing" to a much more nuanced research approach.   To learn more about the topic I'm joined by Roosevelt Bowman, a Senior Investment Strategist at Bernstein.  We discuss everything from how to understand an ESG investment, the potential trade-off in risk/return, and how ESG has recently performed.      With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

It has been an eventful quarter in the markets.  We have had the first major conflict in Europe in decades, inflation at levels that we have not seen in 40+ years, Coronavirus shutting down large parts of China, and the Fed beginning to move interest rates meaningfully higher for the 1st time in what feels like forever.  Topics covered include:  The impact of the Ukraine war on the global economic outlook and the marketInflation and our outlook for the Fed's responseRecent price movements in the bond market and how to think about it both short and long-term Recent stock volatility and the dispersion fueling market resultsIdeas for your asset allocation to deal with the current environmentThis episode is a replay of a client webinar from April 25, 2022.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

April is tax season.   On this episode, I'm joined by our Senior Investment Strategist Paul Robertson.   We take a deep dive into everyone's favorite topic and cover the following tax-related issues: Why were capital gains comparably higher in 2021?  How do we think about loss harvesting?  Can trading be customized per client?   Are there stock portfolios that are designed to be ultra-tax-sensitive, and what are the pros and cons?  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

Many discussions about the future of finance and currency are focused on bitcoin, NFTs, and the Metaverse.  On this episode, I'm joined by Jonah Ballow,  Founder and Head of Content Strategy at Heartlent Group, to learn how it all comes together.   Heartlent Group is a social-first marketing collective that specializes in the digital world.  https://www.heartlent.com/   We discuss how to think about the digital world, how it will become more a part of our future, while getting into the specifics of what NFTs are, how to attribute value to them, and how these worlds collide with cryptocurrency. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The bond market often doesn't get much attention from investors, but with interest rates on the move they are now a top of mind topic for many investors.   To have a deep discussion, I'm joined by Matthew Norton, a Senior Municipal Bond Portfolio Manager at Bernstein. We discuss the forecast for interest rates, how rates will impact bond prices, yields today and going forward, we compare bonds to cash, the state of municipal credit, and discuss if now is a good time to put money to work in fixed income.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

Market volatility has picked up in the New Year with the NASDAQ, DOW, and S&P 500 all hovering around a correction.  Although Global Markets were up 18% in 2021, many investors feel on edge about the path forward.  Topics I cover include:  How the market can be up so much during a pandemicThe impact of inflation and our outlook for the Fed's responseWhether stocks are overvalued and our projection for 2022How to think about bonds in a period of rising interest ratesWhether Covid is still a story in the market & the economyThis episode is a replay of a client webinar from January 24, 2022.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The Art Market has been going through a period of enormous appreciation and transformation.  To understand what is fueling both, I sit down with Hilde Lynn Helphenstein & Matthew Capasso.  You may know Hilde as @jerrygogosian where she satirizes and influences the art market amongst her many other endevors.  She is an artist and curator as well as art dealer. She studied fine art internationally beginning with a A.S. degree from Strykejernet Kunstskole in Oslo, Norway followed by a BFA in New Genres at San Francisco Art Institute.  She also writes Art World Reports via her private newsletter at www.larrysaltz.com.  Matthew is a Director at Fairchain, and previously worked at both Christie's and Goldman Sachs.  We hit on everything from NFTs, to Art Basel, to the state of the art industry today.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode I'm joined by Roosevelt Bowman, a Senior Investment Strategist at Bernstein.  We discuss all the hot topics in the markets today; fed policy, inflation, the impact of massive stimulus on the economy, market valuations, what to be worried about, and where to be opportunistic.   With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode, I talk about the topic on everyone's mind: inflation. To have a deep discussion, I'm joined by Chris Brigham, a Senior Research Analyst in Bernstein's Investment Strategy Group. We discuss why inflation matters and how it impacts investors' portfolios.  Chris shares the near-term outlook for inflation and covers how today's policies may impact inflation over the long-term.  We talk about which investors are most exposed to inflation and why, before concluding with the best ways to build inflation protection into your portfolio.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates. 

On this episode I recap markets as we close out Q3 and look forward to the end of the year.   Topics I cover include:The outlook for inflation, who is most sensitive, and how to protect your portfolioThe state of the economy and what to make of recent weakness in some of the dataShould you expect a sharp and sustained market selloff?What could be an opportunity in the current market?Is covid still a story in the market & the economy?This episode is a replay of a client webinar from October 18, 2021.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

With the new school year upon us I thought I'd take the podcast back to school for Finance 201.  Prior to the pandemic we did a Finance 101 episode so to continue the class I'm joined again by Damon Amendolara of CBS Radio to discuss some of the hottest topics investors are thinking about today.   We cover how to think about cryptocurrency, the impact of low interest rates on borrowers and savers, the employment picture in the US, and the impact of supply chain disruptions on prices and the economy.       Any questions or comments, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode I talked about how working with a financial advisor has changed during Covid.  I ponder what that might look like through the rest of the 2021, and how it changes when move through Covid and into the "new normal".   I also try to give you an insight into the genesis of Marc to Markets and look for ways in which in can improve going forward.   The episode wraps up with a quick outlook on the markets, and what has me most nervous as we enter the fall.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates. 

You may have noticed over the past few years that your local doctor has joined a larger medical group or a hospital system.  Why did that happen?  As a physician, or as an advisor to a healthcare practice, you may be considering  selling a practice as a retirement plan or way to increase reimbursements and decrease expenses.  In this episode I speak with Daniel Brunello, a Director in the Bernstein Wealth Strategies Group, to learn more about consolidation in the healthcare industry.   We discuss who the top buyers of healthcare practices are and what motivates them.   Daniel covers strategies for handling the real estate associated with a practice and the best way to prepare the business to maximize sale price.  We also give our top tip for physicians trying to save for retirement who are not considering selling their practice.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates. 

On this episode I look back on the 1st half of 2021  and provide an outlook for the path forward.  Topics covered include: Why would the market go up from here?Our perspective on inflationWhat is happening in overseas marketsDo fundamentals and research matter anymore?An update on the ever changing future of taxesThis episode is a replay of a client webinar from April 19, 2021.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The Biden administration has proposed sweeping legislation, which would create major changes to the tax code and impact current capital gains, corporate, and estate tax treatment.  I'm joined by Bernstein's Director of Wealth Strategies Research Tara Thompson Popernik to make sense of the proposed changes.  We discuss how to manage your portfolio in this environment, when the policy would go into effect, the likelihood that it passes, how business owners and investors with large unrealized gains should evaluate the impact, and strategies to keep more money in your pocket. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

The sale of a closely held business is often a defining moment for a family.   A successful transition plan encompasses not only financial consideration, but the personal, family, legacy, and gift/income/and estate tax issues that surround a deal.  To go more in-depth, I talk with two experts on the subject.  First, I'm joined by attorney Thomas Collura.  Tom is a Partner at Hodgson Russ.  Tom’s practice is focused on representing privately held companies and their owners in a wide range of corporate, tax and commercial matter.  Then, I'm joined by Andrew Jones, a Managing Director at Pipler Sandler.  Andy's practice focuses on advising private equity firms, entrepreneurs and corporate clients on mergers & acquisitions transactions.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.  

On this episode I look back on the 1st quarter and provide an outlook for the path forward.  Topics covered include: An analysis of the market 1 year since the start of the Covid crisis? Is the economic impact of Covid behind us? After a 78% rally in the US, what is left to drive markets higher?  Are higher interest rates, tax rates, and inflation a reason to be worried about your portfolio?  Are there any attractive opportunities at this point?This episode is a replay of a client webinar from April 19, 2021.  With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

Many investors are stuck with too much cash on their balance sheet and are paralyzed by how to put it to work in what appears to be a very unclear outlook for investments.  Stocks are high, interest rates are low.   Many are asking themselves the following questions: I de risked in March; that was a mistake…what can I do now?  Do I buy stocks with the market is at an all time high?  Will I earn anything in bonds with interest rates this low?  How do I advise my client who had a liquidity event, but wants to wait for a market correction to deploy the cash?On this episode, Bernstein financial advisor Amanda Beebe and I discuss the answers to these questions and other related topics.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s).  AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates. 

On a special Marc to Markets episode, we go about as far away from finance as possible. I break down College Basketball's March Madness Tournament with Damon Amendolara, host of CBS Sports Radio's The D.A. Show, and Dave Friedman, the Play-By-Play announcer of Winthrop Basketball. We cover the landscape of sports during Covid-19 and the financial importance of March Madness. We talk about how the tournament will look and feel different this year, and then Dave and Damon give their best tips to winning your family or office pool. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s). AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode I'm joined by Roosevelt Bowman, a Senior Investment Strategist at Bernstein. We discuss the impact of massive stimulus on the economy and stock market both in 2021 and long term, the far reaching impact of the recent stock movement in GameStop, how technology is changing the rules of investing, and we end with our thoughts on Bitcoin. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s). AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode I talk with David Lieberman of Oxford Properties, Kim Shankman of DouglasElliman, and Michael Levinson of Houlihan Lawrence to discuss the state of real estate. My conversation with Dave focuses on the commercial market, with Kim NYC residential, and with Michael the suburbs. We cover how each has fared through Covid, the state of the industry today, and where we go from here. With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s). AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

On this episode I discuss the market and economy as we enter the new year. Some of the topics include: Our research into the future path of Covid-19, the most interesting opportunities in the market, are municipal bonds risky, and will there be a wave of large defaults, and the impact of the Biden administration on markets and tax policy.This episode is a replay of a client webinar from January 2021.With any questions or comments, or to discuss your own financial situation, I can be reached at marc.penziner@bernstein.com or 212-969-6655.The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s). AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.