Client Newsletter 100

SAS Financial Advisors, LLC |

Action item: Download Form 1099s for all applicable accounts.

For SAS managed accounts at TD Ameritrade Institutional:

  • Log in with your username and password at
  • Choose tab "Documents"
  • Then choose from the left "Tax Documents"
  • Finally, download all listed 2021 Form 1099 documents
  • Do the same for all other accounts outside of SAS/TD

Sign up for e-delivery of tax documents by logging into, then clicking My Profile > Communication Preferences.


100 weekly newsletters

We began this newsletter shortly after the pandemic began. Aside from a week off here or there, we have made it 100+ weeks! We started the weekly newsletter to keep in touch actively with our SAS clients and share our perspectives on the market along with other pertinent information related to SAS managed investment accounts.

We hope that we can look back at this period of our history and feel like some things have been accomplished. In my case, I have zoom calls once a month with family and friends who I did not see for long periods of time. The cooking and food experience has been enriched by new recipes and cooking and planning meals together. Our neighborhood is much more familiar due to the many miles of walks during covid. We developed a new appreciation for cocooning, reading, and streaming. We are the lucky ones!


Market Correction

We are officially in correction territory as far as the SP 500 and Nasdaq 100 are concerned. The Fed has been promising an increase in the fed funds rate as well as a halt to the Fed's purchases of bonds. Quantitative easing is over for the time being.

At the same time, Russia has invaded Ukraine putting the European continent at risk in the biggest way since WWII. The Balkan wars of the 1990s were significant but the sophistication of the armaments from then to now has increased with potentially devastating consequences for civilians and military alike. Refugees will be one result of this invasion and how will Europe deal with more refugees. What impact will this have on the European and world economy? It will not be pretty. This is one reason for the stock market decline. Will this cause the Fed to have fewer rate hikes because of the economic impact? The bond market yield curve is flattening indicating bond market concern about economic growth. Stay tuned for market updates from SAS.


Silicon Valley Index

A recent study of the Joint Venture Silicon Valley called the Silicon Valley Index highlighted the barbell effects of the pandemic. Employment is higher than pre-pandemic levels, tech jobs are up 4%, 2021 had more IPOs than any year, venture capital funding hit new records, start-up numbers increased, income and assets increased significantly overall. Barbells have two ends. One is the positive recovery bell but the other side is that 25% of silicon valley residents own 92% of the wealth. Hispanic or Latino workers earn 64% of white workers with the same education and experience. Hispanic residents are 2 ½ times more likely to contract covid and 3 times as likely to die from the pandemic as white residents.

We need to pay attention to this glaring inequality by creating incentives, improving education opportunities, addressing child poverty rates and other causes of income inequality. If we don’t the risk of bad outcomes will increase. Inequality in Silicon Valley increased in 2021. One of the covid consequences.

What is the new work structure going to look like? Employers report that remote work will continue to play an important role in the workplace but most employers are not giving up their workspace. In fact, the same link above indicates that major technology companies continue to lease and build more space. Employers seem to think that the evolving hybrid work experience would be in the office Tuesday through Thursday and remote Monday and Friday. When workers who are currently working remotely were surveyed 32% want to work remotely full time and 22% do not want remote work at all. This doesn’t leave much room for buy-in to the hybrid experience. Imagine being a new college graduate beginning work remotely! We all know friends or family who began new jobs working remotely. It’s an adjustment and frankly weird.


This website is informational only and does not constitute investment advice or a solicitation. Investments and investment strategies recommended in this blog may not be suitable for all investors. SAS Financial Advisors, LLC and its members may hold positions in the securities mentioned within this newsletter.

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