Market Commentaries

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.

The British are leaving! The British are leaving!

By |2020-04-21T15:43:18-07:00July 13th, 2016|

Q2 2016 Market Commentary
Following the referendum -- commonly referred to as ‘Brexit’ -- the global stock markets fell by roughly 5% over two dramatic days, and then recovered all of those losses as cooler heads prevailed over the next 3 days. In our view this brings two things into focus:

We Are All Investors Now

By |2020-04-21T15:44:22-07:00April 10th, 2016|

Q1 2016 Market Commentary
Decade after decade over the last hundred years we experienced what is now often referred to as a "normalized interest rate environment" offering a real return (beyond inflation) with very little risk of principal. You may have taken for granted at the time that cash in a money market “should” earn 3% – or even 4% to 5% – because in the thirty years leading up to the mid-2000’s, it generally did.