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Client Letters

First-hand examples of communications we send directly to clients sharing our pulse on the markets.

Client Letter – April 2023

Market Results The first quarter of 2023 was a pleasant one compared to what we’ve been dealing with for the past year.  The S&P 500 was up +7.50% for the quarter and YTD.  International markets were up +7.65% for the quarter and YTD.  Emerging markets were up a bit less at +3.54% for the quarter

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Client Letter 2022 Q3

Q3 2022 Market Results The third quarter was another rough one for the markets.  The S&P 500 was down -4.88% and down -23.87% for the year.  The S&P 500 set a new YTD low on September 30.  International markets were down -9.33% for the quarter and down -26.96% YTD.  Emerging markets were down -11.42% and

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Client Letter 2022 Q2

Q2 2022 Market Results The second quarter was a rough one for the markets.  The S&P 500 was down -16.1% and down -19.96% for the year.  The most recent YTD low was on June 16.  International markets were down -14.29% for the quarter and down -19.25% YTD.  Emerging markets were down -11.92% and are down

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Client Letter 2022 Q1

Q1 2022 Market Results After a very strong 2021 (and 2020 and 2019) the market has pulled back since the start of 2022. After a very positive December the S&P 500 hit its all-time high on January 3, 2022, and then the retreat started. The market fell precipitously until late January, had a slight recovery

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