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Austin Smith

California Residents Earning Over $500K Finally Get Some Relief

High-income California residents face a combined federal and state tax rate exceeding 50%, which fundamentally changes bond investment economics. The tax exemption on municipal bonds creates a powerful arbitrage opportunity – what appears as…

Austin Smith · 9 months ago

Invesco’s PXH ETF Jumped 38% as Emerging Markets Finally Heat Up

The Invesco RAFI Emerging Markets ETF (NYSEARCA:PXH) has surged 38% over the past year as investors rediscover emerging market opportunities. This rally reflects a fundamental shift in how the fund approaches EM investing—using metrics…

Austin Smith · 9 months ago