John Frye

CFA
Personal Finance, Retirement, Investing
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“With over 38 years of experience in the investment field, John Frye is Chief Investment Officer and a founder of Crane Asset Management LLC who oversees all aspects of Crane's investment and portfolio management process.”
Firm:

Crane Asset Management LLC

Job Title:

Chief Investment Officer

Biography:

Crane Asset Management LLC is a full-service investment counseling firm providing investment management services to private individuals, retirement plans, endowments, and charitable foundations. All accounts are managed on a discretionary basis. John Frye founded the firm in 2003, with a partner who remains Chief Operating Officer. They work with all of their clients to formulate a long-term investment strategy that will meet their investment objectives while addressing their risk profiles. Understanding their clients in this way enables them to develop unique plans based upon each of their clients’ needs to help them achieve their financial goals.

Before co-founding Crane Asset Management LLC, John served as Executive Vice President and Portfolio Manager at Renberg & Associates in Beverly Hills. He began his career with E. F. Hutton & Company in New York and subsequently worked with Alex. Brown & Sons in Baltimore. He received his Bachelor of Arts in Politics from Princeton University in 1977 and his M.B.A. from Columbia University Graduate School of Business. John holds the Chartered Financial Analyst® designation and is a member of the CFA Society of Los Angeles.

Education:

BA, Politics, Princeton University
MBA, Finance, Columbia Graduate School of Business

Assets Under Management:

$81 million

Fee Structure:

Asset-Based

CRD Number:

849182

Disclaimer:

Crane Asset Management is registered with the State of California. A copy of Crane's Form ADV filing (Parts 2A and 2B) can be accessed here. In addition, Crane's Form ADV (Part 1) can be downloaded from the SEC's website. (Type in Crane's name in the field provided and follow the instructions on the site to download the information required.)

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September 2017
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    Real Estate
If the mortgage tax deduction is removed, what will happen to real estate investment trusts on both coasts?
100% of people found this answer helpful

First of all, at the moment neither version of the tax bill eliminates the mortgage deduction.  One retains it as-is, with a $1 million cap on allowable loan balance; the other version lowers that to a $500,000 maximum. Secondly, this deduction is only available to individuals for their primary residence.  It has never been available to most REITs.  Third, REITs don't pay taxes.  They pass through their "funds from operations" to shareholders, who then pay full marginal income tax rate on the distributions they receive.

In general though, a lower mortgage deductible cap will raise the cost of owning a home and thus make expensive homes (or any homes in certain locales) less attractive to buy.  I wouldn't expect a disaster, though.  Conceptually it makes sense to me that the government should not indirectly subsidize the cost of an expensive home owned by a wealthy person.  

But to answer your question, this change in the tax law should not affect REITs.

2 days ago
    Banking, Investing, Taxes
Should I move funds from large bank with high fees even though there will be high gains?
0% of people found this answer helpful
2 days ago
    Financial Planning, Retirement Savings
What are the flaws in my projected retirement plan?
100% of people found this answer helpful
2 days ago
    Investing, Starting Out
I've never invested before: where should I start with $3,000?
89% of people found this answer helpful
2 days ago
    Real Estate
Given my financial situation, is it better for me to buy a house or continue to rent?
75% of people found this answer helpful
2 days ago