Client Communications

“Life is a long lesson in humility” – J.M. Barrie Whiplash. This is exactly what investors who panicked during the fourth quarter and sold stocks experienced when the market rebounded in the first quarter. The S&P 500 peaked in September at 2,940.91 and fell 20.2% to a low of 2,346.58 on December 26. Since then […]

“Never be afraid to sit awhile and think” -Lorraine Hansberry The end of 2018 was one of the more tumultuous periods for the markets in the last decade as equities swooned and the New Year has opened with a stiff dose of volatility. The easiest response for a long term investor is “buy the dip” […]

“True strength is delicate” -Louise Nevelson Most major equity indices were flat in the first six months of 2018 yet volatility in the markets has returned signaling greater investor anxiety. The S&P 500 has experienced a daily change greater than one percent 36 times year-to-date compared to 3 one percent moves by this time last […]

“Never let the truth get in the way of a good story” -Mark Twain The first quarter has been punctuated by a volatile market that appears even more jarring following the unusually orderly market conditions of last year. In Washington, President Trump’s administration is delivering on its “America First” platform using an unconventional approach. Tariff […]

“Climbing a Wall of Worry” -Wall Street proverb Many times during 2017 we were asked how the stock market could be performing so well while the tone of political discourse was so poor. Our answer was, and remains, that business is driven by the economy and the global economy is in a sweet spot of […]

“The surest test of discipline is its absence” -Clara Barton The stock market has delivered another impressive quarter rising 4.5% from July through September and up 14% year-to-date. Investors are continuing to block out political noise and remain focused on earnings and the impressive strength of the global economy. The valuation of the stock market […]