Client Communications

Since World War II, there have been 11 U.S. economic recessions, 12 Bear Markets, and 23 U.S. equity market corrections of at least 10 percent. The catalyst for these declines includes geopolitical events, terrorist attacks, credit market collapses, and various asset bubbles, among others. The underlying cause of a significant decline in economic activity or […]

This past week we have witnessed the significant decline in the market indexes in response to fears of repercussions to the world economy from the spread of the coronavirus. As in almost every sharp market decline of the past, fear commands the human emotion to panic and in the case of investing, sell now and […]

As we come to the end of another year, in which they seem to pass too quickly, it can help to take a look at what transpired over the months and how it might help us in our decision making going forward. History will document that 2019 brought us above average investment returns in most […]

Recent developments in the financial world have led to significant discussion regarding an Inverted Yield Curve and a looming recession. Equity markets around the world responded with a decline in prices. Economists, former Federal Reserve Chairpersons, market pundits, and every individual that can get in front of a camera are offering their opinions – some […]

As the year 2018 comes to a close, we reflect back on the past forty years that we have witnessed first hand in this investment business.  What stands out most vividly in memory were the major declines.  Most of us that experienced the “crashes” in 1987, 1990, 2002, and 2008 would agree that in each […]

The term “climbing a wall of worry” has been used for decades to describe how stock markets continue to rise in value as negative events, both domestic and worldwide, dominate the news.  This seems to be the case this year as negative news monopolizes our daily lives including:  tariff threats with our international trading partners, […]

As we pass the midpoint of 2018, cross currents are evident in every market sector as well as worldwide which continues to keep investors on the sidelines.  Even professional money managers have cash holdings in excess of the 10 year average.  It seems as if the overwhelming consensus is that the equity markets are bound […]

Markets reached new all-time highs in January with almost non-existent volatility that lasted over fifteen months.  Money flowed into stock investments in record numbers as the new year began.  It all changed abruptly. Attention changed overnight from good corporate earnings, low unemployment, and a steady economic growth rate to inflation, rising interest rates, and a […]

The economy here in the States, as well as the rest of the developed world, continues to improve. In the fourth quarter of 2017, 70% of all companies reporting beat their earnings forecasts and nearly 72% beat their revenue forecasts. Our weaker dollar has helped the overseas market returns explode to the upside as realized […]

Over the years we have all seen the equity markets rise, fall, then rise again.  Our lives inevitably change due to circumstances beyond our control.  At times, it may seem there is not much that we do actually control at all.  That is why we set goals, look to the future, formulate a plan. Actually, […]