Category Archives: Clients/Clients Only

Double Birthday Wishes …. You Cannot Make this Up!

Not sure on the saying, but goes something like ….

Two birds with one stone!

No no, more like this ….

Have Your Cake and Eat it too!

No, how about this ….


Oh ….goodness….

Two For One ?

As a small happily high touch firm, it would not work without you!

Happy Birthday Jen and Donald

Yep, both are on the same day – TODAY!

10k Finished !

Cheers and thanks for everything, you guys are GREAT!

John A. Kvale

Q 3 2020 Cover Letter

As a kid, a frequent saying of my parents were,

“Son even too much of a GOOD thing is still too much!”

While it may sound like we were talking out of the exact opposite side of our mouth, investors looking through the valley to the other side which we had argued for the last two quarters seem to be having too much of a good thing

As discussed in great in our Newsletter for the first time in almost five decades of professional investing, two quarters ago we had to argue positively when everyone was extremely negative and dark clouds appeared to be in the sky, forming our thoughts of looking through the self-imposed valley to the other side where brighter skies may lie.

Fast forward to the present, fear by many has been replaced with greed and a short-term memory of the perils once worried about.  As mentioned once again in our quarterly Newsletter there are similarities to 1999- due to heightened valuations and slight reckless behavior. While prices likely overshot to the downside earlier on in this year it is likely they have overshot to the upside now.

Where do we go from here?

We are not saying things must fall dramatically or an imminent decline is coming, only the opportunity short to mid time frame returns are diminished due to the higher valuations.

Inflation expectations, as measured by the Consumer Price Index (CPI) or the Dallas Federal Reserve’s own adjusted inflation measure, the Trimmed Mean Inflation measure are worthy of our attention as very few expect any inflation at this time.  An increase in either of these measures would be more startling to the Federal Reserve (FOMC) and Capital Market Investors and would certainly present a headwind.

Lastly, as we head into historically the best quarter of the year (led by historically the roughest month), we would argue this is not a normal year and our guards should be up, with slightly thicker investors skin as we head into the end of this year.

Stay safe be well will talk to you at the end of the year!


John A. Kvale CFA, CFP

Enclosure (2020 Report)

Q 2 2020 Quarterly Review Cover Letter –

The Look Through Continues

As mentioned in the last quarterly summary, Investors and Capital Market Participants are indeed looking through this self-made slow down and into the eventual continuation of the economy.

The FOMC (Federal Open Market Committee) led by Jerome Powell continue to provide support via lower interest rates (likely for a shorter period than during the post 08-09 period)  and asset purchases to help shore up possible needed cash from institutions and participants.

Speaking of FOMC stimulus, should a vaccine or multiple vaccines, (the possibilities detailed greatly in our Q3 Newsletter), occur sooner, rather than later, a faster economic rebound may be in the cards. On the other side, should increase in contagion lead to further Economic slowdown, capital market participants would likely lose some of their enthusiasm.

The Sequel Is Usually not as Scary

One thing about the sequel, should it occur, it is usually not near as scary as the original. No doubt as mentioned again in our Q3 newsletter, many of the worlds brightest are working together and have learned much just over the last 90 days.

With the worlds brightest pushing massive energy to a common goal, the future, especially when dealing with healthcare, is likely much brighter and coming faster than we all think!

Given so many unknowns, we are likely to be captive to positive and negative headlines until the eventual vaccine is discovered.

With the possibility that Investors may have gotten a little bit ahead of themselves, expectation for bumps along the way over the next few quarters have heightened.

Again, why we like having a conservative posture.

Stay safe be well will talk to you in the fall!


John A. Kvale CFA, CFP

Enclosure (2020 Report)

Fun Tools and Ideas For Working Out of the Office

As we all continue our multiple week stay in place and work remotely orders … we wanted to send some neat portable (cell) helpful ideas … all available from the Apple store …  not 100% on Android…

Handy Tools and Ideas for Remote Working

In an industry that has very strict rules and regulations… it’s nice to announce this handy application has seamlessly allowed for the curating of very important documents …  basically turns your camera into a very good scanner and allows multiple document combinations into one PDF file…


Next up, for those that just do not seem to be able to get through an entire book… EVER … Present party certainly included…

Meet Blinkist … most books are in a 15-20 minute audio or readable short form…. and they have also just added full length Audiobooks as well … cost about $100 for the year… have gone though more books in the last six months than last six years!



Last but not least… Calm, a Lebron James sponsored app … cost about $75/year and it is just what you might think… neat, soothing, relaxing sounds and a 10 minute relaxation meditation talk daily… it also learns your likes … have not made the full 10 minute relaxation audio without falling asleep yet… it’s that good!


Hope you may enjoy one or more of these… we do !

Have a Great “Neat Tools” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.

A Few Personal Coping Techniques … Friday

As we work through week three of our lock down, we know MANY of you have a much longer time frame and are in much more confined areas….

Hang tight, we will get through this!

Personal Coping Techniques 

My hope is that, maybe just maybe, one of these may work well for you… so here we go!

One of my absolute favorite ideas is so simple and fun, hopefully you will think so too!

Ideally, find a way to get YouTube on a big screen… ROKU, Firestick or any smart TV will get you there… 

Now  – Search Live Web Cam there are a ton… find a place you like to go or have gone in the past or want to go … turn it on and leave it on as a subtle fun distraction!

Here are three streaming Live Web Camera family favorites: 

Critter Cam



Here are a few VERY personal tips I am trying to adhere:

  • Get plenty of sleep, maybe even more than usual
  • Get outside if at all possible
  • Wear very bright clothes – ditching a person fav black – the positive color seeps into your mood
  • Make sure to take daily vitamins
  • Spend time with the family and have a few laughs – Oddly purple dye found its way into the 12 year old’s shampoo bottle, no idea how … haha
  • Listen to upbeat music, not downer sad stuff, no sad love songs, fun dance or the like
  • Spend a little extra time with the pets – they appreciate it and it will help you too
  • No dark movies – Jim Carey..Mel Brooks …Disney + (just signed up for Disney+ – worth the $5/month)
  • Do not take in too much news or social media and make sure to throttle negativity, be Informed but not consumed
  • Exercise- push ups, old bar bell weights from the Garage are working well, sit ups, lunges and stretches
  • If you are really having trouble with something, write it down – just the act of putting it on paper/text is soothing…. trust me on this one !


Golfers – this is from our local club, Pick your sport, I am sure there are others…  

Ahhh… today is a Friday, heading into a weekend … have a great weekend and hope this has helped and maybe stirred some ideas of your own…feel free to share in the comments!

Have a Great “Personal Coping Techniques” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.

Q 1 2020 Quarterly Review Cover Letter –

First and foremost I want to wish everyone safety and healthiness as we go through these times. We will get through this and will all be stronger and more knowledgeable for the experience.  

As mentioned in our Q 2 2020 Newsletter, the speed of the lower Equity markets left many investors struggling for cash to recklessly sell their safest assets, bonds. This put unique pressure on Bonds and Bond Funds, temporarily lowering their value in stead of increasing their value, which is what should happen as interest rates lower. The good news with this situation, with history as our guide, this situation corrects over shorter time frames and also allows for our re-investment at artificially lower rates, a win, win in our opinion!  

An Unknown becomes a Known?  

As of this writing the contagion continues, uniquely, do to the self-imposed economic slowdown from the Virus, at a given point in time, hopefully much sooner than many may think, a great unknown will become a known.  

Unlike the last two major economic slowdowns there was uncertainty in far reaching aspects of other assets and other parts of the world and economies.  

At some point in time we will conquer the Virus and the unknown will become the known!  

Capital Market Participants will anticipate this and begin pricing in the not only conclusion of this economic slow down but the positive affects of the very large stimulus package that has been put into place.   

As mentioned in again and more prominently, in our Q 2 2020 Newsletter which you hopefully have already received, there have been an abundance of stimulus programs that at this point have likely not even begun to filter into our economy in any meaningful way.   

Once the full effects of the stimulus seep through our country and the unknown becomes the known we truly believe that our economy and therefore capital markets will be in a much better place in a much shorter time than in prior slowdowns.  

Stay safe, thanks for all of the positive comments – we will get through this together. 


John A. Kvale CFA, CFP


Light at the End of the Tunnel (Positives!)… Thank You … Happy Celebrations

Don’t look now, but the positives are shining through as some of the Corona Clouds lift… there will likely be ebbs and flows, but at least we are not solo in the positive camp now!

Please continue to be safe and be well.

Thank YouThank You

Thanks you to everyone for sharing our posts over the last NINE consecutive days ….

In an attempt to get the word out to as many as possible…. I think we did a really good job, THANKS TO YOU GUYS!

Thanks for all of your support, emails, cards, comments and just darn good will … you have been terrific and much appreciated … while it may at times look like there is ice in the veins … we do have feelings too and appreciate all!

Very special wishes for a Good Friday Tomorrow and Happy Passover!

Have a super day and wonderful weekend!

John A. Kvale CFA, CFP



Corrected Tax Forms Update, First Round Due Today, Then Every Two Weeks – Friday

Break In – We had three (you lucky ones have already been notified) corrected’s as of this writing, and Corrected’s appear to have been dropped first thing this AM… those waiting the Green Light, we will update first thing Monday- but so far so good!


Later today, maybe even tonight, the first round of Corrected Tax forms, (1099 Misc) will occur… Our biggest correction year, about eight ago, led to over half receiving corrected Tax forms.

Steadily over the past years, this Corrected percentage has fallen (Hopefully not jinxing us!)

Those of you that have contacted us, and are idling at the finish/starting line, we appreciate your patience, but hold off just yet, as the number/% of actual Corrected Tax Documents will give us confidence in moving forward!2019 1099 Consolidated snapshot

New to the Corrected Schedule is an every two week Friday Corrected’s Drop! Nice… Prior years were randomly scattered and left us clamoring for the day… especially as we neared the April filing date.

Behind the scenes we can electronically check everyone at once throughout the day….in year’s past, while due today, they may not post until very late in the day or even tonight, leading to a delayed victory lap until tomorrow!

Fingers crossed for a small number corrected’s!

Here is a link to the 2019 Consolidated 1099 Handbook explaining the 1099 in great detail, for those so inclined…. using the diary feature here of our post for future reference.

Those of us lucky ones, we will reach out to you immediately!

Today is a Friday, and as we log another Rainy Cold Week for the record books… Spring, We Welcome You!

Have a Great Weekend and Talk to you Next Week!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.

Happy Valentines Day! Abbreviated Day, Long Weekend … Presidents Day Reminder Monday

A Happy Valentines Day… especially to all the ladies, moms, Mrs., Grandma and guys too!

What a Rainy and chilly week it was here in the south…

Made for a Great Writing week (A lot last weekend too) much to our Editors Happiness…

With the kiddos out on the street today at the half way point, we are headed out early for our collective protection…

In a continuation of the goal for the twelve year old, yours truly will be out of town this weekend and Monday in honor of Presidents Day.

Capital Markets, Banks, Government and Our Office will be closed Monday as well.

Happy Presidents Day!

New Toy … Look for Neat Office Stuff Soon… after we figure out how to get around the no fly zone restrictions due to local airport…grrrr

John A. Kvale CFA, CFP

Tax Forms Update, Reminder EVERYONE Receives a Paper Copy, ETF Preview … Friday

While the unofficial due date, as mentioned last week here, is next Wednesday February 12th, forms are dropping day by day.

As a reminder, EVERYONE will receive a paper copy of these forms, electronic versions will be posted as soon as they are mailed out.

The Whole Enchilada form, AKA Consolidated 1099 which includes the following:

Form 1099-B, Form-DIV, Form 1099-INT, Form 1099-MISC, and Form 1099-OID

This will be the form that is the last to arrive, due to so many moving parts. Donald the Brian spent over a month in the fall last year confirming basis information to help thwart needed corrected forms… but they may still occur as each investment entity may also have a correction, spurring a completely new Whole Enchilada Consolidated 1099.

If there were less than $10 worth of activity, the IRS does not care and as such a 1099 will not be sent. Alert..this could happen easier than you think, even if the account had sizable value, but little interest or dividends and no sales!

Reach out with any questions!


Working on a deep dive, likely multi-part Article for the Newsletter about ETF’s … the more stats we find, the more interesting the Article is getting… Ya Mrs. Cain, you were right.. we would need to know how to do that extensive research paper…sure it easier with the web… Look for abbreviated posts here in the not too distant future!

Weekend Almost Here

Today is a Friday…. some unusually cold weather this week… maybe nearing the last way down here in the south…

This from a relatives front porch who is actually south of Dallas… we had none here!


Know you guys up north see this constantly, but not so much in our neck of the woods anymore…novelty remains here for sure!

Have a Great Friday and Super Weekend!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.