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Brochure Supplement Joe Estes
Brochure Supplement Jonathan Ezra
Statement Of Financial Strength
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Own Your Practice
Letter to Clients
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contact us
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Fixed Income Portfolio (FIP)
FIP Program
Services, Fees and Compensation
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Client Contact with Portfolio Manager(s)
Sample Portfolio
Back Dated Performance Reports
Quarterly Performance Reports
Total Asset Market (TAM)
TAM sm Program
Services, Fees and Compensation
Client Information
Client Contact with Portfolio Manager(s)
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Back Dated Performance Reports
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Sample Portfolio
Back Dated Performance Reports
Quarterly Performance Reports
Municipal Bonds
Taxable Bonds
Par, Premium, and Discount Bonds
Rating and Analyzing Bonds
Refunding & Pre-refunding
Bond Yields
Yield Curve
Secured Bonds
Mortgage Bonds
Unsecured Bonds
Debentures
Subordinated Debentures
Zero-Coupon Bonds
Convertible Bonds
High Yield Dividend Stocks
Independent Money Managers
Fees & Compensation
Corporate Cash Management
Fees & Compensation
Estate Planning
Financial Planning
Client Service Approach
Client's Responsibilities
Fees
Implementation
Legal Services
Termination
Professional Alliance Network
Client Service Approach
Client's Responsibilities
Fees
Implementation
Legal Services
Termination
MUNICIPAL BONDS
Municipal Bond Presentation
About Us
The Management
Global Asset Allocation Products
FIP Program
Classifying Municipal Bonds
Revenue Bonds
Credit Factors Affecting General Obligation Bonds
Credit Factors Affecting the Quality of Local Municipal Bonds
Analyzing the Credit Quality of General Obligation Bonds
Analyzing the Credit Quality of Revenue Municipal Bonds
What We Normally Buy
What We Normally Don’t Buy
Municipal Bonds – Unique Asset Class
Default Rates
Yield Difference
Turnkey Operation Platform
Advantages of Our Bid Wanted System
Advantages of Our Clearing System
Preferred Custodian Settlement
Advantages of Same-Day Allocation
TSL’s Turnkey Operation Platform
Classifying Municipal Bonds
Revenue Municipal Bonds
Types of Revenue Municipal Bonds
Industrial Development Revenue Bonds
Lease-back Bonds
Special Tax Bonds
NHA/PHA Bonds
Moral Obligation Bonds
Municipal Notes
TANs/RANs
BANs
CLNs/GANs
Variable Rate Bonds/Notes
Build America Bonds
Double-Barreled Bonds
Bond Index Components
Open-end-Closed-end-Indenture
Sinking Fund
Bond Contracts
Bond Indenture
Official Statement
Bond Issuance Process
Analyzing GO Bonds
Analyzing Revenue Bonds
Debt Ratios
General Price Analysis of Municipal Bonds
Liquidity
Interest Rate Risk
Credit Risk
Coupon Risk
Maturity Risk
Municipal Bond Insurance
Municipal Bonds Unique Asset Class
Default Rates
What We Buy Currently
What We Normally Don’t Buy
Turnkey Operation Platform
Advantages of Our Bid Wanted System
Advantages of Our Clearing System
Preferred Custodian Settlement
Advantages of Same Day Allocation
Traditional Broker/Dealer Execution Flow
TSL's Turnkey Operation Platform
INDEX FUNDS
Total Asset Fund (TAF)
TAF® Program
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Client Contact with Portfolio Manager(s)
Additional Information
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Event Schedule
Market Value Securities (MVS sm) Presentation
Featured Event
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Events History
Investing During Uncertain Times
Read FULL Seminar Here
Tax-Free Income Seminar
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Fed's Miran Warns Of Recession Risks If Rates Are Not Cut: Report
↗
December 22, 2025
Miran stated that while he does not see a recession right now, the neutral rate of interest has been brought down because of a “variety of shocks” to the U.S. economy.
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Disney Is Betting Big On ‘Avatar: Fire and Ash’ — But History Shows Blockbuster Openings Don’t Guarantee A Stock Pop
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December 22, 2025
A softer-than-expected response for the opening weekend of “Avatar: Fire and Ash” comes at a rather challenging time for Disney.
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Why Is Silver Beating Gold In A Year of Economic And Geopolitical Uncertainty?
↗
December 22, 2025
Gold’s rally appears structurally supported, with JPMorgan projecting further upside on sustained central-bank and ETF demand, while silver’s outlook remains more cyclical, potentially moderating if...
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From Jeff Bezos To Jensen Huang, Corporate America’s Top Execs Cashed In On A Rebound Year — But Buybacks Stole The Show
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December 22, 2025
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Nasdaq, S&P 500 Futures Edge Higher Ahead Of Christmas-Shortened Week: Why NVDA, RKLB, CWAN Are On Traders' Radar Today
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December 22, 2025
Precious metals stole the spotlight, with gold and silver hitting fresh records overnight.
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Nike, Oracle, CoreWeave, Intuitive Machines, Rivian Automotive: Stocks Making The Biggest Moves Today
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December 19, 2025
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Fed's Williams Sees No Urgency To Cut Rates Again, Says November CPI Was 'Distorted' Downward Due To Technical Factors: Report
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December 19, 2025
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Market Breadth Update - Repair Crew Still on the Job, But Resistance Overhead
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December 22, 2025
Friday brought another constructive “repair” day after Thursday’s bounce: advancers stayed in control, 4% winners expanded, and new highs continued to outpace new lows. Still, the bigger picture...
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Does QQQ's Tech-Focused Growth Outweigh SPY's S&P 500 Stability? What Investors Need to Know
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December 21, 2025
Trade-offs in cost, yield, and portfolio allocation differentiate these two popular ETFs.
Via
The Motley Fool
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This ETF Trounced the S&P 500 in 2025. Here's Why It Could Do It Again Next Year
↗
December 20, 2025
The semiconductor sector continues to be a big winner.
Via
The Motley Fool
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ETFs
Stocks
El Erian Sees A New ‘Unsettling’ Economic Risk Emerging In 2026 – And It’s Not Inflation Or Affordability
↗
December 19, 2025
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Economy
CPI Report: Consumer Prices Rose 2.7% Annually In November, Less Than Expected
↗
December 18, 2025
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‘Beary’ Michael Burry Waves The Red Flag Again — But These 5 Charts Suggest The Market Isn’t Crashing Yet
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December 17, 2025
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Bulls Eyeing the Chimney: Can the 2025 'Santa Claus Rally' Deliver a Year-End Finale?
December 19, 2025
As the trading calendar winds down to its final pages, investors on Wall Street are positioning themselves for what has historically been one of the most reliable seasonal patterns in finance: the...
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MarketMinute
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Artificial Intelligence
Economy
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Inflation Thaw: Cooling CPI Sparks Massive Year-End Rally as Markets Price in 2026 Rate Cuts
December 19, 2025
Wall Street received an early holiday gift this week as the U.S. Bureau of Labor Statistics released a Consumer Price Index (CPI) report that significantly undercut analyst expectations, signaling a...
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MarketMinute
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Artificial Intelligence
Bonds
Earnings
Travel Is So Back! Marriott, Hilton Stocks Check Back In With Year-End Surge — But Caution Abounds
↗
December 19, 2025
Although revenue growth has cooled, both Hilton and Marriott have continued to beat revenue and profit estimates in recent quarters while rolling out ambitious expansion plans.
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Stocktwits
Topics
Economy
Waller Reportedly Had A ‘Strong Interview’ For Fed Chair Job With Trump On The Same Day He Said There’s Room For Up To 100 Bps Rate Cuts
↗
December 19, 2025
Conducted at President Trump’s residence, Waller’s interview was concluded before the President’s address to the nation on Wednesday night.
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Stocktwits
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Economy
Government
Nasdaq, S&P 500 Futures Trade Higher Ahead Of Core PCE: Why NKE, WYFI, LUNR, TLRY Are On Traders' Radar Today
↗
December 19, 2025
Investors carried over momentum from Thursday’s cooling CPI data.
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Soft Inflation Ushers Santa Onto Wall Street — Will Seasonal Trends Follow?
↗
December 19, 2025
Inflation eased, and yields fell, lifting stocks, but stretched valuations and cautious retail sentiment temper optimism.
Via
Stocktwits
Topics
Artificial Intelligence
Economy
Breadth Bounces, But Short-Term Trend Still Under Pressure
↗
December 19, 2025
After Wednesday’s heavy selling, Thursday delivered a clear breadth rebound: advancers retook control and the “big down” day count normalized. But zooming out, the market is still working through...
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Chartmill
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ETFs
What Is A Secondary Offering?
↗
December 19, 2025
A secondary offering is a stock sale that takes place after a company has already gone public, unlike an IPO.
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Initial Public Offering
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The Great Normalization: How the 2025 Fed Pivot Echoes History’s Most Famous Soft Landings
December 18, 2025
NEW YORK — As the final trading days of 2025 approach, the financial world finds itself at a critical juncture. On December 18, 2025, a cooler-than-expected Consumer Price Index (CPI) report—showing...
Via
MarketMinute
Topics
Artificial Intelligence
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Stocks
Truth Social Got Louder Than Ever Under Trump 2.0 — But DJT Stock Is Wrapping Up Its Worst Year Ever
↗
December 18, 2025
The stock has slumped nearly 70% in the year through Wednesday’s close; last year, it almost doubled, aided by Trump’s successful re-election.
Via
Stocktwits
Topics
Government
World Trade
Star Apple Analyst Breaks Down iPhone Maker’s AI Crunch, Google Gemini’s Breakout — And Tells Why The AI Boom Is Real, But Risky
↗
December 18, 2025
Ming-Chi Kuo discussed his thoughts on the Moseeker podcast.
Via
Stocktwits
Topics
Artificial Intelligence
Economy
Nasdaq, S&P 500 Futures Rise As Micron Earnings Offset Inflation Jitters: Why MU, ORCL, PSKY, RCAT, RKLB Are On Traders' Radar Today
↗
December 18, 2025
Via
Stocktwits
Topics
Economy
Stocks
Nike’s Earnings Test: 3 Things Investors Need To See For A Real Turnaround
↗
December 18, 2025
After a strong Q1 report in September, investors and analysts are looking for another solid showing to confirm that the turnaround is delivering tangible gains.
Via
Stocktwits
Topics
Economy
Breadth Slips Into a Clear Risk-Off Gear
↗
December 18, 2025
Wednesday’s pullback wasn’t just an index dip, participation weakened materially. Daily and weekly breadth flipped decisively bearish, breakouts dried up, and a growing chunk of stocks slipped back...
Via
Chartmill
The Emotional Rollercoaster: How Fear and Greed Shape Investor Behavior in Market Downturns
December 17, 2025
The financial markets, often perceived as bastions of rational decision-making, are, in reality, deeply swayed by the powerful currents of human emotion. As the global economy navigates its inherent...
Via
MarketMinute
Topics
Bonds
Economy
Supply Chain
Oracle, Hut 8, Processa Pharmaceuticals, Recursion Pharmaceuticals, Udemy: Stocks Making The Biggest Moves Today
↗
December 17, 2025
Oracle shares were down over 5% in Wednesday’s midday session after Blue Owl Capital reportedly withdrew from a $10 billion investment in the company’s new facility in Saline Township, Michigan.
Via
Stocktwits
Topics
Artificial Intelligence
ETFs
Stocks
Waller's Odds For Fed Chair Nomination Surge After The Fed Governor's Dovish Comments On Rate Cuts
↗
December 17, 2025
Waller now has a 26% chance of being nominated by President Trump to serve as Fed Chair.
Via
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Economy
Government
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