CRF Home

Offering individualized financial
& investment planning services

(781)404-7009    (978)206-2375

FEBRUARY 2023 Newsletter: Words of Wisdom from Warren Buffett

February 13, 2023

The stock market can provide some head-scratching moments, which is why I like Warren Buffet’s quote, “...don’t watch the market closely.”

Stocks have been strong this year, and they rallied sharply before and after the recent Fed meeting, which ended Wednesday, February 1. But the following day, after the market closed, a handful of Wall Street’s most influential companies reported ho-hum Q4 earnings.

Then the next day, before the market opened, we learned that 517,000 jobs were created in January – nearly 3x the forecast. Stocks waffled on Friday as investors digested the poor earnings and worried that the stunning jobs report might force the Fed to be more aggressive with interest rates.

So what’s up? Is a new bullish trend emerging this year, or is it 2022 all over again with the Fed in the driver’s seat?

Fed Chair Powell began his post-meeting Q&A session saying the same stuff, including that the Fed has more work to do with interest rates. But then he said something almost no one expected to hear, “...the disinflationary process has started.”

The meeting transcript shows that Powell said “disinflation” 13 times in his press conference. He never said it once eight weeks earlier at the December Fed meeting.

When Wall Street is managing through a crosscurrent of news and reports, it can be an excellent time to follow Warren’s words of wisdom. And remember, it takes time for trends to emerge. Sometimes, it’s best not to draw any hasty conclusions.

  • We at CRF are excited to share that Partner and Senior Founder, Rick West, has been recognized as one of LPL Financial's top 500 Financial Advisors for 2022 as it was recently announced that he earned a spot in LPL’s "Chairman’s Club". This elite award is presented to less than 4% of the firm’s more than 21,000 financial advisors nationwide*.

    In response, Rick wrote, "I am sincerely honored to have been recognized as part of this select group. It has been my great fortune to have served hundreds of wonderful clients over the years and I find myself in this incredibly fortunate position only because of the amazing CRF team and because of our supportive clientele who continually introduce us to their friends and families. This award is truly a reflection of everyone who is a part of the CRF family and I am genuinely humbled and eternally grateful."

  • Most Form 1099s have been mailed and you should have either received this form or you will be receiving it shortly. As your statements are mailed they are also be accessible electronically through your Account View profile by clicking the left menu "Documents" and then upper menu "Tax Forms".

  • In the rare instance of a more complicated tax situation and you do not receive your 1099 consolidated statement by mid-February, your statement will be mailed between February 17 and March 17, 2023. In the interim, a Preliminary 1099-Consolidated Tax Statement will be available to you through Account View. This preliminary 1099 should not be considered final and should not be used for the purpose of filing
    a tax return with the IRS or with any state or other regulatory agency.

  • Form 5498 IRA (IRA contributions) will be mailed February 24 & May 31, 2023. This form includes all contributions for the previous tax year, as well as those made through April 15th of the current year. This tax form is for informational purposes only, and is not to be sent to the IRS along with your tax return. Please consult your tax professional.

  • If you are using TurboTax or H&R Block, you can automatically import the information shown on your original or corrected 1099 tax information statement. To upload your tax data into the software, you'll need your full 8-digit LPL account and 1-digit document ID listed on your tax statement. Forms will be available for download from Account View once your tax statement is available. We recommend you wait to download your tax statement until you have received all tax statements in the mail. For detailed information please consult our 2022-23 Turbo Tax and H&R Block Guide.

  • This tax information, as well as access to the 2022-23 Tax Season Guide can always be found in the "2022-23 Taxes" section of our website FAQ page. Should you have any further questions, please feel welcome to reach out to our office.

For more information on IRS tax filing or extension deadlines, see This information is not intended to be a substitute for specific individualized tax advice. We recommend discussing your specific tax situations with a qualified tax advisor.

*Achievement is based on annual production among LPL Advisors only.

Help Get Your Federal Withholding Correct With This Tool
From the IRS

The IRS has a handy tool called the IRS Tax Withholding Estimator that can help taxpayers better understand their withholding. It’s essential to examine your federal withholding periodically to ensure you are comfortable with the amount of tax withheld.

Checking your withholding status may be a good idea to consider if you have experienced a change that may affect your tax status, such as:
  • Going through a marriage or divorce
  • Having or adopting a child
  • Purchasing a new home
  • Working two or more jobs at the same time
  • Only working part of the year
  • Claiming credits such as the child tax credit

This information is not intended to be a substitute for specific, individualized tax advice. We suggest that you discuss your specific taxissues with a qualified tax professional.
Tip adapted from

Karen is twice her brother’s age and half her father’s age. In 22 years, her brother will be half the father’s age. How old is Karen now? 


Last month's riddle: Name the three English-language three-letter words that begin and end with the letter E.
Riddle answer: EVE, EWE, EYE