Market Commentary

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Jul

Newsletter: June 2016

We endured an early fireworks show thanks to Brexit.  Everywhere we have looked in the last week we have seen or heard about Brexit. From the newspaper in the morning, to the financial news that plays all day in our homes and offices, to clients calling, to the intern who wouldn’t stop asking me about it- it’s all about Brexit.

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May

Newsletter: May 2016

Some clients will believe we have stepped to a “new low” in citing Simpsons material.  But, one has to admit, the above cartoon accurately depicts the outlook (and track record) for a large swath of the investment community.  Every time the market has a few weeks of selling pressure the same old cast of characters (boo-birds crowd) starts chirping, predicting dire times ahead.

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1
Mar

Newsletter: March 2016

We would not be surprised if this year’s market action has caused a severe case of whiplash.  Experiencing a -14% drop in the first 1½ months of 2016 followed by an equally head-turning rebound of +9% over the past three weeks hurts our necks too. 

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1
Feb

Newsletter: February 2016

As we move into February, there is a fierce tug-of-war between market participants who believe the recent sharp selloff over the past 30 days is a precursor to much rougher times ahead and those who believe the decline is just another garden variety temporary scare.

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1
Oct

Newsletter: October 2015

No reason to mince words – the 3rd quarter market and client account returns were ugly.  In fact, it was the worst quarter we have experienced since the nasty selloff in 2011.

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1
Jun

Newsletter: June 2015

The indices spent most of the month treading water.  Going back to the end of February (66 past trading sessions) the markets have gone nowhere.  Looking at the daily up and down action, bad economic news seems to help the markets while favorable economic news sends investors to the exits. 

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1
Apr

Newsletter: April 2015

The book for the first quarter of 2015 is officially closed and it is time to flip the calendar to the month of April.  The market sharply zigged and zagged over the past three months only to end up near where it began in 2015.  Volatility continued in the month of March - the Dow Jones Industrial Average has finished with triple digit #s in 16 of last 22 trading days with no back-to-back...

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1
Jan

Newsletter: January 2015

We hope everyone enjoyed the holidays, and now it is back to the grindstone.  While we try to keep our eyes and minds focused on the road ahead, rather than the rearview mirror, we will take a few moments to reflect on the 2014 markets and economy.

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