Archive for the ‘Insight’ Category


2016 3rd Quarter Commentary

October 15, 2016  |   Documents and Literature,Insight,News & Press   |     |   0 Comment

Overview
Somewhat counterintuitively, the third quarter was characterized by the lowest volatility we’ve seen in a while.  Following the “Brexit” vote at the end of the second quarter, markets stabilized and continued to march higher. Second quarter earnings (reported during the third quarter) were mainly favorable which reinforced the narrative that the economy continues its slow growth trajectory.  The Federal Reserve met last month and decided to keep interest rates unchanged, ...

2016 2nd Quarter Commentary

July 22, 2016  |   Documents and Literature,Insight,News & Press   |     |   Comments Off on 2016 2nd Quarter Commentary

Overview
It seems every year at this time, Europe manages to spook the markets. A European recession, a threatened default by a Eurozone member (Greece) or (this time) an exit from the EU by a member nation, Britain (i.e. “Brexit”) have all come across the headlines.  Markets deplore uncertainty and this most recent drama has ratcheted up global economic apprehension and reduced global GDP expectations.  While there is plenty of uncertainty ...

2016 1st Quarter Commentary

April 22, 2016  |   Documents and Literature,Insight,News & Press   |     |   Comments Off on 2016 1st Quarter Commentary

Overview
The first quarter of 2016 was volatile – politically, economically and in the stock market.  The year began with fears of a U.S. recession linked to sagging oil prices and economic volatility in China which led to the worst start to a year for the S&P 500 on record.  Through the first 10 days of 2016 the market was down 7% and by February 11th the market was firmly in ...

2015 4th Quarter Commentary

January 29, 2016  |   Documents and Literature,Insight,News & Press   |     |   Comments Off on 2015 4th Quarter Commentary

Overview
Last year marked the end of a multi-year winning streak for most major equity indices and a divergence in the fixed income markets. 2015 broke a string of three straight years of double digit gains in stocks and it was the weakest showing since 2011 for the S&P 500. This last quarter was also historic in that the Federal Reserve, after years of zero interest rate policy, finally raised short ...

2015 3rd Quarter Commentary

October 20, 2015  |   Documents and Literature,Insight,News & Press   |     |   0 Comment

Overview
The stock markets have finally experienced the pullback that we’ve written about for the last 6 quarters.  The volatility that began in the sec ond quarter of this year sparked by concerns over Greece and Puerto Rico continued with a vengeance in the third quarter.  The last three months logged the largest decline in stocks in any one quarter in over four years with the S&P down 6.4% and the Dow ...

2015 2nd Quarter Market Commentary

July 22, 2015  |   Documents and Literature,Insight,News & Press   |     |   0 Comment

Overview
The fireworks came out just in time for the Fourth of July.  The second quarter was relatively sleepy until the end of June when the Greek debt crisis made headlines again.  Greece rejected a cash-for-reform proposal by the EU and missed an IMF debt payment causing a banking system closure. The Greek people voted on the matter July 5th and rejected the plan as well.  As of this writing, no ...

2015 1st Quarter Commentary

April 15, 2015  |   Documents and Literature,Insight,News & Press   |     |   0 Comment

Overview
With the first quarter of 2015 in the books, the domestic stock and bond markets managed to post a (barely) positive return.  After another positive year in 2014 and with economic uncertainty increasing as investors weigh the actions of the Fed, we have plenty to watch as the year unfolds.  Below are our thoughts on the events of the past three months as well as where we believe we are ...

2014 4th Quarter Commentary

January 20, 2015  |   Documents and Literature,Insight,News & Press   |     |   0 Comment

Overview
This has been quite an eventful year, both internationally and domestically.  Internationally we have seen increasing unrest in Hong Kong, Russian military antagonism, Middle Eastern unrest and an African pandemic that threatened the world. Domestically we had a significant shift in the political climate with a Republican takeover of the Senate. The more things change, the more they stay the same.

Economy
GDP surged to finish the year and we saw real ...

2014 3rd Quarter Market Commentary

October 20, 2014  |   Documents and Literature,Insight   |     |   0 Comment

Overview
The economic and world news for this quarter has been intense.  Developments in Iraq and Syria with renewed calls for military intervention have dominated headlines.  The stalemate between Russia and the Ukraine continues while in Africa, a deadly outbreak of the Ebola virus has gripped the world’s attention.  Most recently, Hong Kong has called for more autonomy from China through peaceful demonstrations.  Economically we had a strong reversal in GDP ...

2014 2nd Quarter Market Commentary

July 16, 2014  |   Insight,News & Press   |     |   0 Comment

Overview
At the halfway point for the year, the markets have continued to surprise investors.  Below are our thoughts on the events of the past three months as well as what we see for the second half of this year.

Economy
In what seems to be becoming a pattern, our economy has managed to make forecasters and economists look foolish.  During the last full week of June we received the third quarterly revision ...

2014 1st Quarter Market Commentary

April 16, 2014  |   Insight,News & Press   |     |   0 Comment

Overview
With the first quarter of 2014 in the books, we were pleased with the outcome of both the stock and bond markets.  After a fantastic 2013 and a rocky start to 2014, the quarter closed out on a largely positive note.  Below are our thoughts on the events of the past three months as well as where we believe we are heading.

Economy
While much of the recent data has been weak, ...

2013 4th Quarter Market Commentary

January 16, 2014  |   Insight,News & Press   |     |   0 Comment

Overview
This year was characterized by political unknowns, but few economic surprises. We began the year concerned about negative outcomes from budget fights and the impact of the sequester that went into effect during the first quarter. We then moved our attention to the comments from the Federal Reserve in regards to whether it would continue its bond buying program known as “Quantitative Easing.” We ended the year with a government ...

2013 3rd Quarter Market Commentary

October 11, 2013  |   Insight,News & Press   |     |   0 Comment

Overview
Over the last three months we have transitioned through concerns of when the Federal Reserve would begin tapering its monthly bond purchases to dealing with political battles on Capitol Hill about spending, the debt ceiling, and The Affordable Care Act. We have seen this movie before but each time it seems to have a new twist. As we write this letter, the government has “shut down” because the House and ...

2013 2nd Quarter Market Commentary

July 11, 2013  |   Insight,News & Press   |     |   0 Comment

Overview

The optimism from the first quarter was sustained into the second but interestingly, volatility has also increased on the back of a rising market and stronger economic data. What would cause this volatility? The financial media is hyper-focused on the next move of the Federal Reserve.  Measuring the pulse of Ben Bernanke and making short term market calls has become a full time occupation for many. These days we hear ...

2013 1st Quarter Commentary

May 14, 2013  |   Insight,News & Press   |     |   0 Comment

Overview
The first quarter of 2013 witnessed the best equity returns over a three month period for quite some time with both the Dow Jones and the S&P 500 reaching all-time highs.  The strong performance overshadowed the discussions in December of budget impasses, sequestration and overreaching tax plans.  The market was driven by relatively strong 4Q earnings reports, stronger than expected economic readings and less noise from Washington that had elicited ...

Page 1 of 3123