Category: Quarterly Review

Quarterly Review – Second Quarter 2019

 In the second quarter of 2019, capital markets continued their first quarter upward trajectory, albeit at a decelerated rate and with greater intra-month volatility. The S&P 500, which at the end of May was negative 2.6% quarter to date, [...]

By |2019-07-18T22:02:41+00:00July 18th, 2019|Quarterly Review|Comments Off on Quarterly Review – Second Quarter 2019

Quarterly Review – First Quarter 2019

In our fourth quarter letter, we advised clients to remain invested in the market despite the temptation to sell and go to cash. Since that time, the S&P 500 recouped much of the fourth quarter sell-off and closed the [...]

By |2019-06-20T18:07:50+00:00April 24th, 2019|Quarterly Review|Comments Off on Quarterly Review – First Quarter 2019

Quarterly Review – Fourth Quarter 2018

Seven words describe the 2018 equity markets:  An escalator up and an elevator down!  The fourth quarter of 2018 proved to be challenging with the S&P 500 retracing more than it gained during the first nine months of the [...]

By |2019-02-19T19:48:47+00:00January 28th, 2019|Quarterly Review|Comments Off on Quarterly Review – Fourth Quarter 2018

Quarterly Review – Third Quarter 2018

Here’s a party we can all agree on… U.S. equity markets had a fantastic quarter, with the S&P 500 rising 7.7%, nearly tripling the return of the index’s first-half return of 2.6%! Driven by year-over-year quarterly earnings growth between [...]

By |2018-10-23T20:49:49+00:00October 19th, 2018|Quarterly Review|Comments Off on Quarterly Review – Third Quarter 2018

Quarterly Review – Second Quarter 2018

If you plan to drive to your summer vacation destination, it’s unlikely that you will set the cruise control at 70 mph and only decelerate upon arrival. Curves in the road, construction zones, and that slow driver that won’t [...]

By |2019-07-15T19:47:35+00:00July 23rd, 2018|Quarterly Review|Comments Off on Quarterly Review – Second Quarter 2018

Quarterly Review – First Quarter 2018

First quarter market gyrations demonstrated the extremes of investor sentiment from the “fear of missing out” tothe “fear of losing.” The former was evidenced in January, with a 5.8% rise in the S&P 500 followed by the latter inFebruary with [...]

By |2018-09-27T18:53:22+00:00April 16th, 2018|Quarterly Review|Comments Off on Quarterly Review – First Quarter 2018

Quarterly Review – Fourth Quarter 2017

 Happy New Year! But to be honest, 2017 was pretty great! Nearly every asset class and global market was positive for the year. Looking forward, we don’t think the clock has struck midnight on this market just yet, and [...]

By |2019-07-15T14:52:15+00:00January 23rd, 2018|Quarterly Review|Comments Off on Quarterly Review – Fourth Quarter 2017

Quarterly Review – Third Quarter 2017

 A market in motion stays in motion…unless acted upon by an unbalanced force.1 We suspect this is how Sir Isaac Newton, as a 21st century market strategist, would view the current capital market trends. Global equity and fixed income [...]

By |2018-10-10T20:54:12+00:00October 16th, 2017|Quarterly Review|Comments Off on Quarterly Review – Third Quarter 2017

Quarterly Review – Second Quarter 2017

 Is Goldilocks back in town? During the previous economic cycle (2003-2007), Wall Street referred to the U.S. economy as the “Goldilocks Economy” …not too hot, not too cold, just right. It was also during this time that market risk [...]

By |2019-07-15T14:53:11+00:00July 18th, 2017|Quarterly Review|Comments Off on Quarterly Review – Second Quarter 2017

Quarterly Review – First Quarter 2017

 The “Trump Rally” continued through the first quarter with most asset classes, both domestic and international, generating strong, risk-adjusted returns. The rally’s underlying support is in part due to investors “pricing-in” near certain approval of Trump’s stated policy initiatives [...]

By |2019-07-15T20:27:14+00:00April 18th, 2017|Quarterly Review|Comments Off on Quarterly Review – First Quarter 2017