Quarterly Market Review

From start to finish, the turbulent year of 2020 was not what anyone expected, and we’re glad it’s now in the history books. Financial markets faced the worst global pandemic in over 100 years, a year which saw many businesses close. Numerous companies threw out...

“The average long-term experience in investing is never surprising, but the short-term experience is always surprising.” – Charley D. Ellis, CFA, Founder of Greenwich Associates To say that financial markets have been on a roller coaster ride in 2020 is an understatement. As distinguished consultant and researcher Charley Ellis states above, we...

The end of the second quarter was a welcome sight for investors following a dreadful first quarter, where markets declined swiftly and sharply.  Equity returns were almost a mirror image of the first quarter, as U.S. equities (S&P 500) soared over 20% (the index’s largest...

The Merriam-Webster dictionary defines déjà vu as a) the illusion of remembering scenes and events when experienced for the first time and b) a feeling that one has seen or heard something before. Both definitions are apropos for how the markets performed in 2019.  In fact, market results in...

“To prove that Wall Street is an early omen of movements still to come in GNP (gross national product), commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out...

In the era of the Trump presidency, headlines abound that can drive markets up one minute and down the next. At times it can be difficult to discern what truly mattered to markets. So what mattered in the second quarter? Although headlines were numerous, the primary...

Unlike the Lexus car commercial with the slogan, “A December to Remember”, the fourth quarter of 2018 was one we would all like to forget. The first quarter went a long way in helping that effort, as U.S. equities experienced the largest quarterly gain since...

After several years of strong market growth, global equities came under pressure in the fourth quarter due to a host of factors. Equity markets found reasons to worry, as markets struggled with elevated trade tensions surrounding US-China tariffs and their associated economic impact. Fears of...

“We always live in an uncertain world. What is certain is that the United States will go forward over time.” ~ Warren Buffett, CEO Berkshire Hathaway, CNBC on 9/22/2010. On August 22nd, the current bull market became the longest on record since World War II.  While...

The main theme in the second quarter could best be described by the three T’s: trade, tariffs, and tweets. Although not as severe as the first quarter, volatility was present in equity markets as tweets about increased tariffs on China, our European allies, and their...