Market Commentaries

Unequal Impact, Unequal Recovery

By |2020-10-16T15:55:44-07:00October 9th, 2020|

Q3 2020 Market Commentary
A "K" shaped pattern recognizes the dramatic variation in recovery among different industries, demographics, and individuals, and highlights the current inequality in our economy.

Building Back Better

By |2020-08-20T12:05:02-07:00July 10th, 2020|

Q2 2020 Market Commentary
We observe the shock of the initial coronavirus crisis evolving into energy for creative economic recovery.

The Many-Minded Market

By |2020-04-21T11:43:07-07:00April 3rd, 2020|

Q1 2020 Market Commentary
Our world is moving at breakneck speed as we ramp up the production of essential items, medical equipment, and vaccines to tackle the current health crisis. The financial markets fluctuate like a roller-coaster in time with the news cycle as they try to respond to each new development.

The Impact of the Coronavirus

By |2020-08-20T12:59:11-07:00February 23rd, 2020|

Q1 2020 - Mid-quarter Commentary
The Coronavirus leads most news headlines with effects spreading across the globe. Partners Kate Campbell King, CFP® and Brian Kozel, CFP® sat down to discuss the current state of the financial markets and how a sudden and unexpected risk is reflected in our investment strategies.

Cooking Up Growth (and Risk) in the Markets

By |2020-04-21T15:03:17-07:00January 24th, 2020|

Q4 2019 Market Commentary
Is the stock market 'super-saturated'? What happens next? We explore how current policy conditions create risk, and, counterintuitively, how feelings of concern about market, social, and environmental risks can pave the way to a stronger economy and future growth.

2019 Q4 Mid-Quarter Commentary

By |2020-08-20T12:59:57-07:00November 21st, 2019|

Partners Kate Campbell King, CFP® and Brian Kozel, CFP® sat down to discuss the current state of the financial markets, the difference between trading and investing, and the power of donor-advised funds.

The Latest Chapter in Lend and Spend

By |2020-08-20T13:00:17-07:00October 15th, 2019|

Q3 2019 Market Commentary
Today, there is a growing consensus that the short term in the market is becoming riskier. We don't disagree. In our latest market commentary, we look at the "lend and spend" strategy of lowering interest rates to promote economic growth.

2019 Q3 Mid-Quarter Commentary

By |2020-01-31T12:30:10-08:00August 29th, 2019|

For our Q3 mid-quarter commentary, partners Kate Campbell King, CFP® and Brian Kozel, CFP® sat down to discuss the current state of the financial markets and the firm's approach to managing client portfolios.

Thinking Fast, and Slow

By |2020-08-20T13:01:02-07:00April 22nd, 2019|

Q1 2019 Market Commentary
FOMO is the new version of greed, and it has developed amazing velocity in our hyper-connected world of hyper-productivity. Our latest market commentary explores how instinctive thinking is affecting our financial markets.

Now is the winter of our discontent

By |2020-08-20T13:01:20-07:00January 4th, 2019|

Q4 2018 Market Commentary
Winter is often used in literature as a metaphor for difficult times and right now feels like just one of those times. The recent declines in stock prices are unsettling and lead to worry about the future.

Remember Risk?

By |2020-08-20T13:01:43-07:00October 22nd, 2018|

Q3 2018 Market Commentary
We all know that risks exist, but our feeling about a particular risk is driven by our recent experience. Many investors have fallen into a false sense of diminished investment risk because of prolonged calm in the markets.

The Drums of Trade War, Redux

By |2020-04-21T15:32:23-07:00July 6th, 2018|

Q2 2018 Market Commentary
Trade tensions have proven quite real over the last three months and continue to dominate headlines. Market price volatility continues apace as well, affected by concerns not only about trade but also rising interest rates and energy prices.

The Drums of Trade War

By |2020-04-21T15:34:09-07:00April 13th, 2018|

Q1 2018 Market Commentary
Like the ebb and flow of the tide, we saw markets rush upward in January only to see them retreat back in February and March. We have also seen a few historically large single-day declines, only to see a big rebound a few days later. The primary reason given for this volatility has been broad concern about tariffs and a looming trade war with China.

(Ir)rational Exuberance

By |2020-08-20T13:02:11-07:00January 15th, 2018|

Q4 2017 Market Commentary
Annually in January market predictions for the future abound. Reading the news in January is thus an exercise in incredulity – about the certainty the prognosticators declare about an inherently uncertain future.

Dark Side of the Moon

By |2020-04-21T15:38:33-07:00July 12th, 2017|

Q2 2017 Market Commentary
Since the Trump presidency began, we have watched the words out of Washington, DC with anxiety and rapt attention as well. There the gridlock is of a different sort. Both the House and Senate will (likely) be in recess for the month of August, but political infighting has prevented Republican lawmakers from moving forward with any sort of legislative agenda...

Back to the Future

By |2020-04-21T15:39:50-07:00April 9th, 2017|

Q1 2017 Market Commentary
The world feels in flux. Changes at the helm of political ships at home and abroad appear to be steering in precarious directions. But, simultaneously, we’re observing a positive and growing tidal shift at various investment conferences that is bringing ESG investing to the foreground.

There is Always Opportunity

By |2020-04-21T15:41:32-07:00January 12th, 2017|

Q4 2016 Market Commentary
As we write to you on the eve of the 45th President of the United States taking the Oath of Office, many in this country are looking ahead with bewilderment or trepidation that the incoming President will actually keep his campaign promises. The President's supporters, however, are counting on his promise to return this country to some sort of golden era – the "good ole days".

What does it mean to be a long-term investor?

By |2020-04-21T15:42:11-07:00October 15th, 2016|

Q3 2016 Market Commentary
Conventional wisdom tells us that, as investors, we should be focused on the long term. But what does that mean exactly: five years, ten years, longer? The answer generally is – it depends. Since "it depends" is about as satisfying of an answer as a parent saying "because I said so" we have decided to look at three underlying questions about being a long-term investor.