May 2022 Mid-Month Recap

This year is the worst bond market we have seen in 30 years.  And April was the worst month ever for bonds.  60/40 balanced investors could be down double digits YTD (based on common benchmarks) unless they have strategically positioned themselves to avoid some of the...

March 2022 Mid-Month Recap

Not long after Vladimir Lenin returned from exile in Switzerland to lead the Russian revolution in 1917, he was credited with saying, “There are decades where nothing happens, and there are weeks where decades happen.”  The current Russia-Ukraine war isn’t even three...

February 2022 Mid-Month Recap

The sharp drop in share prices last Friday was attributed to the expected invasion of Ukraine by Russia. Although that prospect is a disturbing geopolitical event, any U.S. stock market reaction is likely to be limited and short-lived.  The U.S. stock market typically...

January 2022 Mid-Month Recap

The S&P 500 may be only 5% below its all-time high (the NASDAQ, 10%), but the average stock is doing much worse. For example, the average stock in the Russell 3000 (a broader index than the S&P 500 that includes mid and small caps) is down 27% from its high,...

December 2021 Mid-Month Recap

We sincerely appreciate our relationships with clients and friends and want to say thank you during this joyous season.  May your holidays be bright.  We wish you the best in 2022. Pundits have been quick to point out that inflation could be a major roadblock to...

November 2021 Mid-Month Recap

Pavilion Global Markets recently did a study on the source of stock market returns over the last decade. According to Pavilion, the decomposition of returns for the S&P 500 breaks down as follows: 31.4% from earnings 7.1% from dividends 21.0% from multiple...