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Client Letters

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

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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Client Letter 2021 Q4

Q4 2021 Market Results The S&P 500 index was up strong in the fourth quarter.  Looking at a chart for the quarter, you see a brief pullback at the end of November and into December, then another brief pullback in mid-December, but up otherwise.   For the quarter the S&P 500 was up +11.03% making it

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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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