perspectives

After above-average gains over the first half of 2021, equity markets weakened in the 3rd quarter as investors began to come to terms with increasingly strong headwinds. Attention has shifted from concerns about a prolonged COVID-induced reduction in consumer demand, to concerns about global supply chain constraints…

Strong economic growth and rising equity markets continued through the second quarter, as vaccines to Covid-19 became more widely available and social distancing protocols were relaxed. Looking ahead, we survey an economic landscape that has been fundamentally reshaped…

The first quarter of 2021 has come to an end, and we are now a little over a year into a bull market in equities that began on March 23rd of last year. Markets have been barreling full-speed-ahead in a half-speed economy…

Markets continued to reflect investor optimism throughout most of 2020, despite a crippling pandemic, a heated general election, a turbulent transfer of presidential powers, and frequent civil unrest across the country…

"If you can make it halfway and one more step, it's longer to go back, and shorter to finish. So, you just finish." – John Lakeman

The end of the second quarter marks the mid-point of the year, and in many respects the above quote seems tailor made for 2020. The year for markets is another story…

Since the COVID crisis began in the US in mid-February, we have all been learning to deal with the danger of becoming infected with the virus and the increasingly restrictive changes to our daily lives meant to slow its spread. Markets in turn have acted like a funhouse mirror…

Much has happened since our last interim commentary on February 27th, so we are reaching out to you with an update. We remain concerned for the health and safety of everyone close to us and around the world…

After narrowly escaping a bear market heading out of Q4 2018, the S&P 500 index of large cap US stocks ended 2019 with the fifth best annual return on record since 1962…

US markets continued higher in the third quarter, albeit at a slower pace and with more volatility…

Markets climbed higher during the second quarter, albeit at a more moderate pace than the first quarter.

After an abysmal end to 2018, most asset classes reversed course and have been rising steeply so far in 2019...

In our January 2018 commentary, we asked: “Can it get any better than this…or is this as good as it gets?”…