December 2017

Post 1 to 7 of 7

Tax Reform

We wanted to share a concise comparison of the changes effected by the passage of the Tax Cuts and Jobs Act.  CGC Accountants and Advisors in Palm Desert prepared the side-by-side comparison.    Click here to download. If you have any questions, please call or email us. Sincerely,  Fortem Financial    … View More

2017 has truly been a remarkable year as the Dow is set to break 25k

The question is where does the market and economy go from here?  With tax reform looking like it will pass this week,  unemployment at or below 4% and an accommodative Federal reserve and reductions in regulations, we think there is still more room to run in 2018 and beyond.  Yes there may be a pause but we think that pause will be the one the refreshes, instead of one that undermines current gains. Stocks rose to all-time highs on Friday as expectations rose for passage of tax reform; severa… View More

Bitcoin Bubble?

Because a picture is worth a thousand words, we wanted to share a few pictures of what a bubble looks like.   Many of us experienced our first memorable bubble in the 1990s.  It's come to be known as the "Tech Bubble," and this is what it looks like on a chart.  Between January of 1995 and December of 1999, a 5 year window, the Nasdaq grew to 9.1 times is starting value.  It was one of the most exciting periods the stock market had ever known.   However, the Nasdaq Victory Party ended… View More

Fed Hikes Interest Rates as Expected

The Federal Reserve did what just about everyone expected earlier today and raised short-term interest rates by 0.25 percentage points. The federal funds rate is now in a range from 1.25 - 1.50% and the Fed is now paying banks 1.50% on their reserve balances.  Today's move was the third 25 basis point rate hike in 2017, matching the Fed's median projection for rate hikes that it made a year ago. At present, the Fed's "dot plot," which it releases at the last meeting of every calendar quarter, p… View More

All eyes on the Fed this week… should see a rate hike before years end

Stocks were little-changed last week as the conference committee convened to reconcile the differences between the House and Senate tax bills.  Several challenges remain, but momentum for a compromise remains strong; Republicans hope to have the bill on the president’s desk before Christmas. Financials, Industrials, and consumer-oriented stocks outperformed; these areas should benefit the most from tax reform and deregulation.  Utilities was the worst performing sector as dividend-yieldi… View More

Monthly Commentary

With 2017 coming to its close, we continue to find conflicting opinions on the state of the economy and the outlook for the stock market.  On November 14th, Bank of America shared the results of a survey that it says demonstrates investors are “increasingly showing signs of ‘irrational exuberance’, putting more chips on the table even as they worry equities have become overvalued.”  Bank of America’s chief investment strategist was quoted as saying, “Icarus is flying ever close to … View More

Tax Reform passes Senate Hurdle over the weekend and is entering the final stretch

If 2003 is any guide, we don’t believe investors should overthink the short-term impact of tax cut in 2018. The 10-year rose from 3.1% to 4.6% in six weeks after the 2003 tax cut was passed, GDP surged in 2004, and those companies with vast amounts of cash overseas outperformed. From a longer term point of view, the efficacy of the tax cut will rest with one question – will companies actually use their cash to invest in capital projects? If so, productivity should rise, real GDP will grow, a… View More

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Fortem Financial Group, LLC, has adopted this policy with recognition that protecting the privacy and security of the non-public personal information we obtain about our customers is an important responsibility.

All financial companies choose how they share your non-public personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your non-public personal information. Even when you are no longer our customer, we will only share your non-public personal information as described in this notice. So, please read this notice carefully to understand what we do.

The types of non-public personal information we collect and share depend on the product or service you have with us. This information can include items such as your Social Security number and income, your account balances and transaction history, and your investment experience and account transactions.

We collect your non-public personal information in a variety of ways. For example, we obtain your non-public personal information when you open an account or give us your income information, tell us about your portfolio or deposit money, or enter into an investment advisory contract. We also collect your non-public personal information from other companies. For example, from the custodians who hold your account assets.

All financial companies need to share customer’s non-public personal information to run their everyday business. Below, we describe the reasons we can share your non-public personal information and whether you can limit this sharing.

We share your non-public personal information for our everyday business purposes such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, report to credit bureaus, to protect the confidentiality or security of your records, or as permitted by law. We may also share your non-public personal information for our own firm’s marketing purposes; so that we can offer our products and services to you.

Federal law gives you the right to limit only sharing non-public personal information about your credit worthiness for our affiliates’ everyday business purposes; sharing non-public personal information about you with our affiliates to market to you; and sharing non-public personal information with non-affiliates to market to you.

We don’t share non-public personal information about your creditworthiness with our affiliates for their everyday business purposes. We don’t share your non-public personal information with our affiliates to market to you. We don’t share your non-public personal information with non-affiliates to market to you. We also don’t share your non-public personal information for joint marketing with other financial companies. State laws and individual companies may give you additional rights to limit sharing.

We share non-public personal information with our parent company affiliate, Focus Financial Partners, Inc, for its internal and external auditing purposes. We also share your non-public personal information with a non-affiliate for the purpose of aggregating it and providing summary information based on this data to our parent company, Focus Financial Partners, Inc.

To protect your non-public personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

Our policy about obtaining and disclosing non-public personal information may change from time to time. We will provide you notice of any material change to this policy before we implement the change.

If you have questions please call us at 760-206-8500 or go to our website at


Fortem Financial Group, LLC ("Fortem Financial" or the "Firm") is a federally registered investment adviser with offices in California and Arizona. Fortem Financial and its representatives are in compliance with the current registration and notice filing requirements imposed upon federally registered investment advisers by those states in which Fortem Financial maintains clients. Fortem Financial may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements.

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