The first half of 2025 has been an adventure for investors. Uncertainty over what the new administration’s policies would produce rattled markets in the middle of the first quarter. Then, at the beginning of April, the tariff wars began – and stocks continued to fall, almost reaching bear market (20% correction) territory. The administration’s on […]
2nd Quarter Client Note — Whiplash Read More »
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
1st Quarter Client Note – Diversification Works. Until it Doesn’t. Then it Works Again. Read More »
Unless you live under a rock, you couldn’t help but notice that the US equity market has taken a beating in the last few weeks. As of this writing, the S&P 500 (total return) Index is down 8% in the last month and 5% year-to-date. The hardest hit stocks have been the previously market leading
Fear Takes Over – Understanding the Recent Market Sell-Off Read More »
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
3rd Quarter Client Note – The Beat Goes On Read More »
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
2nd Quarter Client Note – Will the Bull Market Broaden, Pause or Fade? Read More »
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
1st Quarter Client Note – Nvidia, Bitcoin and the Loss of Another Giant Read More »
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
4th Quarter Client Note – Who Woulda Thunk It? Read More »
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%
3rd Quarter Client Note – Stay Away from the Rocket Science Read More »
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
2nd Quarter Client Note – The Bull is Back Read More »
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
4th Quarter Client Note – Out with the Old. In with Secure Act 2.0 Read More »
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