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As you might imagine, it has been a pretty intense five months as an investment advisor representative.  Oddly enough, I’m feeling old these days, despite only being forty-four, as I remember the many times I’ve experienced bear markets in my career.  At each of the past bear markets, I recall stories from other veteran advisors about how this time was unprecedented in the

Market Recap

Market Recap

Market Recap

Stocks around the globe continued to surge in the second quarter.  The U.S and developed international markets led the way, with the S&P 500 Index gaining 8.5% and developed international stocks rising 5.7%.  Emerging-market stocks trailed in terms of progress on the COVID-19 front and in turn rose by a more modest 4.9%.  In bond markets, the 10-year Treasury bond prices

The country is now slowly emerging from the shelter at home orders.  Like most people, I’m tired of it.  I miss my friends, some of whom are moving away soon.  This virus is robbing me of the opportunity to spend time with them, which I will never get back.  I miss my family.  I’ve missed birthdays, graduations, reunions and planned vacations.  I miss m

I hope this letter finds you physically and mentally healthy.  We have passed the initial shock of pandemic fears, financial panic and our social world being turned upside down.  However, the battle continues and the effects of isolation from shelter-in-place are cumulative with time. 

In my last letter I advised you not to kill the sheep, but instead to keep it fed and alive, so that we can shear the profits in a recovery.  While I have been exceptionally busy on the phone and through emails, talking through portfolio strategy, I have not had one client (yet) instruct me to kill the sheep and sell out of stocks.  This fact gives me great joy!

You are no doubt consuming the news like drinking from a fire hose.  It is good to stay informed.  However, I recommend taking frequent breaks and remembering the importance of walking outside and feeling the sun as often as is feasible. While we are learning what social distance rules to live by, we are fortunate in our ability to still interact with nature and stay connected th

Market Recap