Waypoints Archives - Rightpath Investments & Financial Planning, Inc.

1st Quarter Client Note – Diversification Works. Until it Doesn’t. Then it Works Again.

Waypoints / Steven Smith / April 7, 2025

The market’s first quarter performance (S&P 500 Index down 4.3%; globally diversified balanced portfolios down less than 1%) have taken a back seat next to what happened in the following week. Trade War Erupts But the big news happened after the end of the quarter, on Wednesday April 2 (so called “Liberation Day”), when President […]

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4th Quarter Client Note – Another Stellar Year for Stocks

Waypoints / Steven Smith / January 20, 2025

The S&P 500 (total return) Index rose 25% in 2024. That came on the heels of a 24% gain in 2023. Resulting in the best consecutive two-year increase since 1997/1998 – the heart of what turned out to be the tech bubble. US Large Cap stocks trounced every other asset class. (Except for maybe Bitcoin

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3rd Quarter Client Note – The Beat Goes On

Waypoints / Steven Smith / October 14, 2024

Despite an 8.5% swoon at the end of July and into August, the S&P 500 (Total Return) Index gained 5.89% in the 3rd quarter and is ahead by 22.08% for the year. Almost every asset class has been in on the action. Real Estate Investment Trusts (REITs) gained 16% for the quarter, fueled in large

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2nd Quarter Client Note – Will the Bull Market Broaden, Pause or Fade?

Waypoints / Steven Smith / July 15, 2024

The investing year is half over – and at least half full. The S&P 500 (Total Return) Index gained 4.28 % in the second quarter on top of the first quarter’s 10.56 % increase; bringing the gain for the first half to 15.29 %. Once again, the market was led by large cap technology stocks

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1st Quarter Client Note – Nvidia, Bitcoin and the Loss of Another Giant

Waypoints / Steven Smith / April 17, 2024

For the most part, 2024’s first quarter markets performed exceptionally well. The S&P 500 (Total Return) Index gained 10.56% — on the heels of 2023’s stellar gain of 26.29% The market continues to be led by high tech growth stocks; contributing further to concentration and overweight in highly valued companies. But not by as wide

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4th Quarter Client Note – Who Woulda Thunk It?

Waypoints / Steven Smith / January 18, 2024

2023 began on the heels of one of the worst years both stock and bond markets have seen. Here is a bleak reminder: Beginning in March of 2022, to combat rising inflation, the Fed hiked interest rates seven times. By October of this year the 10-year Treasury yield had topped 5% for the first time

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3rd Quarter Client Note – Stay Away from the Rocket Science

Waypoints / Steven Smith / October 19, 2023

The first half stock market rally stalled in the 3rd quarter. The S&P 500 (Total Return) Index fell 3.27%, reducing its YTD return to 13.07%. Overall, value stocks continue to underperform. But lost less (1.91%) than growth stocks in the quarter. Overseas, developed market stocks lost 3.8%, while emerging markets fell 1.54% Commodities gained 4.71%

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2nd Quarter Client Note – The Bull is Back

Waypoints / Steven Smith / July 13, 2023

Led by a handful of big technology stocks (and defying most expectations), the S&P 500 (Total Return) Index gained 8.74% in the quarter and is up 16.89% YTD. These gains have led socks into “bull market” territory – up 20% from its previous low reached on October 14, 2022. Large Growth is up a whopping

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1st Quarter Client Note — Bank Runs Are Back

Waypoints / Right Path Investments / April 14, 2023

The markets shook off news of dramatic bank runs and failed banks being taken over by the FDIC and sold off in piece parts. Led by a big rebound in technology stocks, the S& P 500 (Total Return) Index gained 7.57% in the quarter. Large cap growth technology stocks were up 14.3% with large cap

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4th Quarter Client Note – Out with the Old. In with Secure Act 2.0

Waypoints / Steven Smith / January 19, 2023

Well, that was fun. It wasn’t quite the worst ever year for stocks. Thank goodness for that. But bonds had one of (if not) their worst years ever. Consequently, the role that bonds usually play in a portfolio – buffering losses in the occasional bad years for stocks – didn’t happen – and even balanced

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