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