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The stock market has turned in its strongest quarter of the year so far despite the Fed’s recent quarter point increase in short-term interest rates. We had a profitable quarter. Our stock picking skills are intact as we are running ahead of
The quarter was both profitable and frustrating. Many stocks with great earnings histories and reasonable valuations had a mediocre period, and other securities with less attractive metrics did relatively well. So our quarter was not nearly as good as it could have
The Trump bull market is being tested for the first time as the stock market registered a modestly lower quarter and the S&P 500 Index threatened to break below its 200 day moving average for the first time since January 2016. In
We had a very good year. It is fair to say that the stock market did far better than most experts thought possible at the beginning of 2017. The only thing that’s not surprising is that financial markets remain full of surprises
The stock market continues to march ahead and, despite troubling geopolitical headlines, has already exceeded the projections of many analysts for the year. But economic growth is solid, inflation is minimal, and corporate earnings and profit margins are at record levels. Regardless
This was supposed to be the quarter in which the Federal Reserve raised interest rates and put a lid on the stock market rally. Well, the Fed did raise rates. But they can only control short-term interest rates, not long-term rates. And
The S&P 500 Index peaked at 1552 in the year 2000, and after the tech crash, got back to 1576 at the top in 2007. Recently this index briefly touched 2400 – over 50% higher than these previous highs. In early 2009,
It was a profitable year. It didn’t start that way. We endured the harshest January in years and then Brexit before the market turned upward after the presidential election. So we rode a bull, but it was a bit like a mechanical
The year got off to a tough start for us and most active managers, but we have held our own relative to the market since. The market can be remarkably counter-intuitive. Corporate earnings have actually retreated a bit. Interest rates have moved
This quarter was all about Brexit; the market moved more in both directions shortly after that vote than it did during the rest of the quarter. Until that referendum, the S&P 500 Index was up a modest 2.6% for the quarter. Then