Q2 2016 Quarterly Commentary – July 1, 2016: Brexit Volatility and Election Concerns Mask Fundamental Economic Strength

Despite the sharp sell-off in the markets following Great Britain’s referendum vote to leave the European Union, the S&P 500 closed the first half of the year up a positive 3.84% (including dividends). The Euro Stoxx 50 Index, which is Europe’s leading Blue-chip index for the Eurozone and covers 50 stocks from 12 Eurozone […]

Q1 2016 Quarterly Commentary – April 1, 2016: Keeping it Simple for Better Long-Term Results

It may come as a surprise to learn that the stock market in the first quarter of 2016 ended in the black, because there was little about the first quarter that felt good. In fact, the S&P 500 closed up by +1.4%, including dividends. Bonds did even better, with the Barclay’s Aggregate Bond Index […]

Q4 2015 Quarterly Commentary – January 1, 2016: Flat 2015 and Downbeat Sentiment Set the Stage for a Productive 2016

Wall Street market strategists entered 2015 predicting rising stock markets. On average, 19 strategists polled by Bloomberg at the outset of 2015 forecasted a return of 8.5% for the S&P 500. What we got instead in 2015 was a rise of only 1.4% in the S&P 500 including dividends. Only 44% of stocks in […]

Q3 2015 Quarterly Commentary – October 1, 2015: Making Sense of China Volatility

The third quarter was a challenging one for equity investors. The stock market, as measured by the S&P 500 (including dividends), fell 6.4%. Both the Dow Jones Industrials and NASDAQ Comp Index dropped 7.0%. The pain was shared with investors around the globe, as many key markets outside the US fell even more. In […]