The Key to Long-Term Success
At some point in the future, hopefully very soon, the worst of this will be over and we will better understand how serious it was/is/will be. As we work from home and stay safe, we want to stay in close touch with our clients and our friends and professional...
Facing the Challenge
We would like to tell you the answer. When will this be over, and what is the market going to do next? But you know no one knows. This is a new challenge, and we have to face it and recognize what we are dealing with here. We have faced major health care challenges...
Now It’s Oil
Last week OPEC talks broke down when Russia refused to agree to proposed production cuts. As we have been saying in our recent letters, the coronavirus slowdown has reduced demand for oil and caused the price to decline. It just got worse. Over the weekend, Saudi...
It’s tough to make predictions, especially about the future – Yogi Berra
Yogi Berra’s famous saying seems particularly apt in these early months of 2020 as big surprises around the world have caught policymakers and investors off guard. Every December, as I read through economic and market forecasts, I think about how long it will be until...
Fourth Quarter 2019 Market Summary
In many ways, 2019 was a year of records. In just twelve months, the S&P 500 Index, which represents US large-cap stocks, closed at record highs on 35 separate occasions.¹ Large-cap stocks ended the year up a very strong 31.4%; they have returned 30% or more in a...
It’s All In How You Look At It
Welcome to a new decade! This decade just seemed to fly past. The last thing I remember, the market was rebounding sharply in 2009 after the Great Recession. We started a new decade with a weak economy but a good equity market, predicted by exactly nobody, the...
This Bull Market Still has Legs to Stand On
The S&P 500 is having its best run in six years,¹ and the US economy is in a 10-year expansion, leaving some to worry that the decade-long bull market is near an end. While we understand the concern, there are a few reasons why we believe it could keep rolling...
