Category: Client Letters

Client Letter 2021 Q3

Q3 2021 Market Results The stock market was mixed in the third quarter.  It started strong, and except for a short pullback in mid-July stayed strong through the end of August.  September on the other hand was just the opposite with a continued drawdown over the course of the month.  For the quarter the S&P

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Client Letter 2021 Q2

Q2 2021 Market Results The stock market has continued its positive momentum with June 30 hitting a new record high for the S&P 500.  For the quarter the S&P 500 was up 8.55% making it 15.25% for the year so far.  International markets were up 5.17% for the quarter and are up 8.83% for the

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Client Letter 2021 Q1

Q1 2021 Market Results The first quarter of 2021 proved to be another good one for both U.S. and global markets.  The S&P 500 was up +6.17% hitting new all-time highs in March.  International equities were up a still respectable +3.48% and Emerging markets were up slightly less at +2.29%.  Bonds were down -3.37% as

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Client Letter 2020 Q4

Q4 2020 Market Results The fourth quarter of 2020 proved a good one for both U.S. and global markets.  The S&P 500 was up an impressive 12.15% for the quarter, hitting new all-time highs in December.  International was up an even more impressive 16.02% and Emerging markets up an even better 19.70%.  Bonds were up

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Client Letter 2020 Q3

Q3 2020 Market Results After being hit very hard in the first quarter by the Coronavirus pandemic, then followed by a strong (but not complete) recovery in the second quarter, the market continued its recovery during the third quarter.  So much so that the S&P 500 hit a new all-time high in early September.  The

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Client Letter 2020 Q1

Q1 2020 Market Results The first quarter of 2020 was, without question, one for the history books. The world was introduced to coronavirus 2019, a.k.a. COVID-19, after its January outbreak in China. Although not overwhelmingly notable at first, the virus quickly spread in China, then to other countries and was officially labelled a pandemic on

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Client Letter 2020 Q1

Q-4 2019 Market Results The fourth quarter of 2019, and the full year of 2019 were good for the markets, especially the U.S. The U.S. S&P 500 index was up +9.07 for the quarter and +31.49% for the year. The international market index was up +8.17% for the quarter and up +22.01% for the year.

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Client Letter 2019 Q4

Q-3 2019 Market Results The third quarter of 2019 was not a great quarter for market returns, but it was far from bad. The U.S. S&P 500 index was up +1.70%. The international market index was down -1.07% and emerging markets were down -4.25%. Global ex-U.S. was down -1.80%. Bonds did surprisingly well with the

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Client Letter 2019 Q3

2019 Vacation As we do each year, we want to advise all Portfolio Management clients about our upcoming vacation plans. We will be out of the office from Wednesday, August 21 through Monday, September 2, 2019. We will be back in the office on Tuesday, September 3. During this time, we will have limited access

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Client Letter 2019 Q2

Q-1 2019 Market Results What a difference a quarter makes. The first quarter of 2019 was an almost complete reversal of what we saw in the fourth quarter of 2018. The U.S. S&P 500 index was up +13.65%. The international market index was up +9.98% and emerging markets were up +9.93%. Global ex-U.S. fared slightly

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