Stephen Taddie

CBE™, CFM
Personal Finance, Retirement, Investing
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“Stephen Taddie, a 30 year veteran in the investment industry is the Managing Partner and Chief Economist for Stellar Capital Management. His investment responsibilities include applied economic research which influences sector and industry weightings.”
Firm:

Stellar Capital Management, LLC

Job Title:

Managing Partner

Biography:

Stephen Taddie is co-founder and Managing Partner of Stellar Capital Management. His primary investment responsibilities involve establishing the firm's economic outlook and forecast and using that research to provide input to the Investment Committee regarding asset allocation, sector, and industry weighting decisions for stocks, and yield curve analysis for bonds.

Stephen has over 30 years of professional experience in the investment field. Beginning his career as a Merrill Lynch Financial Consultant in Arizona, he finished his brokerage industry tenure in branch management with Prudential Securities on the East Coast. In the early 1990's he established a Phoenix, Arizona branch office for a mid-sized investment advisory firm, and in the late 1990's established S.J. Taddie, Inc., Investment Counsel, prior to co-founding Stellar Capital Management in July of 2000. He has worked with a select group of clients ranging from publicly traded corporations, government entities, and Native American Indian Tribes, to high net worth individuals and families across the country. He is frequently asked to speak on economic and investment management trends, has authored numerous articles and has often been quoted on the same subjects.

Stephen is a member of the National Association for Business Economists (NABE), a Panelist for the NABE Outlook (National Forecast) and the NABE Financial Industry Roundtable, the Western Blue Chip Economic Panel, the Arizona Blue Chip Economic Panel, and a member of the Arizona Legislative Finance Advisory Committee. He is a member and Past President of the Arizona Economic Round Table, a member and Past President of the Central Arizona Estate Planning Conference, a member of the CFA Institute and the Phoenix CFA Society, and an Arbitrator for FINRA. He is a past member of the Economic Club of Phoenix, the Western Pension & Benefits Conference, Arizona Town Hall, and the Madison School District Financial Oversight Committee. He has served on the Executive Board of the Desert Botanical Gardens Foundation, the Advisory and Executive Boards of the Foundation for Burns & Trauma, the Executive Boards for the Foothills Foundation, the Phoenix Camelback Rotary Club, and the Finance Committee for the Desert Botanical Gardens. He has also volunteered with Junior Achievement and coached youth sports teams.

Stephen holds a Bachelor of Science degree in Business and Economics from Lehigh University, and a Master of Business Administration from the University of Phoenix. He has earned The Certified Business Economist™ (CBE™), which is the certification in business economics, and data analytics developed and owned by the National Association for Business Economics, and the Certified Financial Manager (CFM), which is the certification in financial management issued by the Merrill Lynch Institute, Donald T. Regan School of Advanced Financial Management.

Education:

BS, Economics, Lehigh University
MBA, University of Phoenix

Assets Under Management:

$355 million

Fee Structure:

Percent of assets managed

CRD Number:

1358566

Disclaimer:

Different types of investments involve varying degrees of risk, and there can be no assurance that the future  performance of any specific investment, investment strategy, or product made reference to directly or indirectly in newsletters, articles, or responses to questions, will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your specific situation.  Due to various factors, including changing economic or market conditions and regulations, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information serves as the receipt of, or as a substitute for, personalized investment advice from Stellar Capital Management, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Please remember that past performance may not be indicative of future results. A copy of our current written disclosure statement discussing our advisory services and fees is available for review upon request.

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January 2017
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    Investing, Asset Allocation
Where do investors tend to put their money in a bear market?
100% of people found this answer helpful

A bear market can happen in stocks, bonds, or commodities, and of course, it is never announced in advance.  In any case, if you think one is coming, you have to define how large of a valuation drop constitutes a bear market (many opinions on this), and how long the bear will stay around.

Deciding to defend against a bear market can be complicated if your invested assets are in a taxable account. Uncle Sam will want a piece of your realized gains if you sell investments and go to cash, the piece he takes depends on whether the gains are long-term or short-term, and what your marginal tax rate will be.  

The most direct answer would be, investors move some money to cash, not so much to defend, but to create the ability to be opportunistic, and this move is ideally made prior to a market being defined as a "bear market" by the press. I say defend, because most "investors" remain mostly invested for the long-term, because constantly jumping in and out of the market is often ineffective and expensive from the standpoint of opportunity cost, transaction cost, and tax cost.

Long-term investors would seek to offset some of the general market risk by adjusting allocation to less at-risk sectors of the specific market they are invested in. e.g. favoring government bonds over corporate bonds, short term maturities over long term maturities, value stocks over growth stocks, underweighting and/or overweighting specific sectors, etc., etc.

If you are a long-term investor, and can lose less when the markets retreat, and stay with the market when markets advance, typically you win the game.

Hope this helps,

Steve

September 2017
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Should I raise my 401(k) contributions even if fees are too high?
64% of people found this answer helpful
July 2017
    Debt, Taxes
Should my family help me pay off my student loan debt?
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Should I be investing in sector ETFs or are they too volatile?
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