Crane Asset Management LLC
Chief Investment Officer
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. While investment portfolio consist primarily of equities, we also use fixed income securities for clients whose objectives require increased income and reduced risk. John Frye co-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.
BA, Politics, Princeton University
MBA, Finance, Columbia Graduate School of Business
Assets Under Management:
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.)
Introduction and Overview
So let me get this straight: One partner is fiscally responsible and the other partner has a history of spending so much that he/she has ruined credit. If the responsible partner is even considering taking the risk of adding you to her line of credit, she is being foolish. The single greatest factor in the failure of a business is mismanagement of cash flow, and your partner is adept at this and you are hopeless. Put her in sole charge of managing the money. Obviously you bring talents to the mix even if managing cash is not one of them, so focus on the value you can add to your ventures and let her handle the finances. If the business is a success you will have plenty enough income to repair your credit on your own.
If it has really taken you months of research to pick an index fund, then you really need to work with a professional advisor. You shouldn't invest without the guidance of someone who knows what they are doing. And you definitely shouldn't try to guess the direction of the market. I say this over and over; you never have more than a 50% chance of being right if you engage in market-timing.
Keep in mind that if you are contributing to your 401K from every paycheck then you will buy investments every two weeks, regardless of the level of the markets. Keep doing it. Don't sit with cash or get paralyzed by indecision. Choose a mix on investments that will give you the greatest chance of a good long-term rate of return (and the greatest chance of financial independence in retirement).
You can sell any time you want. If you think the underlying stock will go higher, hold on; but set a price target.
Options that are in the money always trade at a premium to their intrinsic value. When I say "intrinsic value" I mean the difference between the current stock price and the strike price on your option. The premium varies with the time to expiration. The closer to expiration the smaller the time premium, all other things equal. So if you expect the underlying stock to be at its current prive level upon expiration, you should sell your option sooner rather than later.
No. You are liable for tax on dividend income, if any, but you are not taxed on price appreciation until you sell. Please make sure you keep all records relating to your cost basis.
If your 70th birthday is July 2019 then you turn 70-1/2 in January 2020. You have to take your RMD by April 1, 2021. Usually it doesn't matter whether you take the RMD in 2020 or 2021, if you expect your other income to be roughly the same in each year. Remember that you will have to take a 2021 RMD also, so taking your 2020 and 2021 distributions in the same year might cause you to be in a higher bracket. That is, deferring the inevitable might not save you any money. Consult your CPA to be sure.