Some Relief. US equities recovered some ground in October following a notably weak close to the September quarter. The S&P 500 rose about 8% in the month, and the Dow Jones Industrials surged nearly 14%, delivering its best one-month performance since 1976. Q3 Earnings...
Warren Buffet warned us: “A rising tide floats all boats. Only when the tide goes out do you discover who has been swimming naked.” The Oracle of Omaha made this comment in 1992, in the aftermath of Hurricane Andrew, regarding the insurance business, and how “good times” can mask...
Market Commentary. Risk assets sold off around the globe in late September as investors continued to grapple with hawkish monetary policy positioning from the Federal Reserve and other central banks to battle inflation. Stock markets have retreated to the lows notched in June, and bond rates...
The Situation is Inflation Investment markets have continued their slog this year, and barring events entirely unexpected, both the stock and bond markets will post a down year in 2022. The story remains much the same, with inflation dominating the financial headlines, paired with a hawkish...
Some Relief. US stocks staged a comeback in July, rebounding from a tough first half of the year. Moderating inflation expectations and better-than-feared corporate earnings helped delivered the best month of performance since 2020. High Prices. Official inflation data remains painfully...
A Challenging First Half. Financial markets struggled to their worst start to a year in decades. Accelerating inflation and rising interest rates, combined with growth fears, have fueled a broad retreat in both stocks and bonds. Equity markets have seen considerable selling pressure,...
A Challenging Time. Global equity markets saw another down month in April, but will end May about flat. It is premature to suggest we have bottomed, however. The continuing storm of high inflation, central bank tightening, geopolitical crisis, and an uncertain earnings outlook have...
A Challenging Time It has been a tough year, so far, for all of us as investors. From the year’s start, the stock market has undergone a continuing selloff, and bonds have also fallen in value as interest rates have risen. As investment advisors, we are frequently asked what is driving the...
A Down Open to the Year Market Comment The year’s opening quarter was marked by a confluence of headwinds for investment markets, and some were quite unexpected. Just as the global economy was gathering vigor after nearly two years of pandemic, Russia commenced an unprovoked war of...
Invasion. Russia’s invasion of Ukraine in late February shocked the world, and is having a significant humanitarian and geopolitical impact. Western nations are so far avoiding a direct military confrontation, responding instead with providing weapons and intelligence, and introducing...