June Monthly Update
An underappreciated characteristic of Nobel prize-winning monetary economist Milton Freidman was that he could turn a phrase. In fact, he wrote a well-read column in Newsweek for years. Freidman is said to have likened central bankers to fools in the shower...
Importance of 529 College Savings Plans
Saving for your child's education is prudent, and 529 college savings plans can help you prepare for your child's higher education to guarantee a better future.
May Monthly Update
Domestic equities largely consolidated and continued to trade within a relatively tight range throughout the month of April. Using the S&P 500 Index as context, the current equity trading range is...
The Fed is Starting to Break Banks
There is an expression on Wall Street that the “Fed raises rates until something breaks.” Well, something broke in March: Silicon Valley Bank and Signature Bank failed, and a host of regional banks came under stress...
March Monthly Update
Last month we highlighted the strong relationship between calmer yields and better risk returns. That dynamic held in place from late October until approximately three weeks ago. Since that point, markets have been rattled...
February Monthly Update
Stocks and bonds have begun 2023 on a high note. As we discussed at length in our 2023 Market Outlook, these two asset classes are much more highly correlated in a higher inflation dynamic, something we have not seen for decades.
2023 Market Outlook
2022 resulted in one of the more difficult investment environments in recent decades. One in which both stocks and bonds suffered significant losses...
November Monthly Update
In previous commentaries, we have focused on the number one tactical driver of markets, liquidity. Commonly, this is summarized in the number one rule for market guidance— “Don’t fight the Fed”. The bear market continues to hold...
3rd Quarter 2022 Commentary
Don’t fight the Fed. If there was one market mantra to live by, 2022 has reminded us that “Don’t fight the Fed” is it. As of this writing, the market continued to pull back from the mid-summer bear market rally that culminated on August 18th.
September Monthly Update
From their mid-June low through the 18th of August, equities picked up short-term momentum and advanced about 16% using the S&P 500 as a proxy, a classic bear market rally.