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Sympathy for the Apple

My colleagues cringe every time I update them on the price of an individual stock (no, not Apple) that I bought last year. Why? Is it because they don’t like the company? No, I’m quite confident most of my colleagues like their product. Are they jealous that it’s performed well? Haters gonna hate. Is it because they think I’m taking a dangerous risk? That can’t be it – they all know it’s a tiny portion of my overall investment portfolio. So what then?
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Phnom Penh, Cambodia

Today we met Hov Neang and Seng Chan Mony for the first time, the two Khmer children we’ve been sponsoring for 6.5 years. They both send me emails a couple times a month. Mony likes to create Powerpoints and says he’s going to go into business. I asked if he would want to work for another company or have his own company, and he said “my own company.”
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Note from Our CIO: Lessons Learned in 2012

Hello and happy 2013 from the Abacus Investment Committee (IC). The IC certainly had a busy 2012. We revised our bond fund mix to capture better yields with only a modest increase in credit risk and interest rate risk; we added master limited partnerships (MLPs, which are energy infrastructure companies) to most client portfolios; we designed and launched our new “income portfolios,” which put more emphasis on generating income than capital gains; and we have made available to our accredited clients two new private investment options for which we conducted extensive due diligence and placed in portfolios where appropriate. Our IC is excited to be meeting in the next few weeks to discuss key themes for 2013 and set our priorities, initiatives and agenda for the next 12 months.
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Acumen Partner Trip

This is a short version of a larger journal I wrote chronicling of my trip to see social enterprise in action, meet like-minded investors targeting the end of global poverty, and have my heart touched by the people and on the continent of my birth.
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A Unique Gifting Opportunity

Current legislation allows for individuals to gift up to $5.12 million in 2012 without paying any additional gift or estate taxes. However, in 2013 that maximum is scheduled to drop to $1 million.
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Note from our CIO: 25th Anniversary

The end never came. As I write today, the S&P 500 last closed above 1,428, over six times higher in price from that dreadful market bottom 25 years ago. And this is despite the fact that the last quarter of a century included, as you might vividly remember, the two worst market crashes our country has endured since the Great Depression: the dot.com crash of 2000 and the financial recession of 2008.
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Leaf

From my experience, with myself and with clients, is that for most purchases (a coat, a lipstick, a pair of skis, a television) our greatest point of satisfaction occurs just BEFORE we pay the money or hand over the credit card.
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