Notes on markets, money, and the long view. The Weekly Update from Anton, plus press, and the occasional essay.
2026
Tax Planning
A pre-retiree's guide to Roth conversion strategy: timing, tax bracket management, the five-year rule, sequencing, and California tax rules.
Press
Up Capital Management announces a strategic partnership with Modelist, bringing institutional-grade investment research and custom model portfolio capabilities to its fee-only fiduciary advisory practice.
Investing
Headlines warn of AI-driven layoffs, but the latest BLS jobs report shows unemployment easing and labor productivity rising. What it means for investors.
Tax Planning
A California resident who sells a concentrated position at the 15% federal long-term rate can still owe more than twice that once the state and the surtax are layered on, and most of the planning options close the day the sale does.
Investing
Since June 2, major indices have traded in a relatively flat range while corporate earnings kept growing, gradually making valuations more attractive.
Investing
Anton Bayer, CFP®, on when to trim concentrated winners like Nvidia and Western Digital, and disciplined, tax-conscious strategies for reducing a position.
Investing
Anton Bayer, CFP®, on Sandisk's 3,300% surge and swift reversal as a case study in concentration risk, and the diversified, tiered strategy that protects wealth once it's built.
Investing
Anton Bayer, CFP®, on Fed Chair Kevin Warsh's less transparent guidance, a jump in housing starts, rising import prices, and what elevated inflation and rate uncertainty mean for portfolios.
Investing
The S&P 500's summer trading range, Brent crude's price swings, June's cooling CPI report, and what Fed Chair Kevin Warsh's quieter guidance means for investors heading into third-quarter earnings.
Field Notes
In the year 578 AD, a construction company was founded in Osaka, Japan to build a Buddhist temple. That company, Kongo Gumi, is still operating today.
The Weekly Update
Anton’s note on the week, plus new essays. No noise, sent when there is something worth saying.
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