Tackling Inflation
The most recent data indicates an annual U. S. inflation rate in excess of 8%. While the Federal Reserve continues to address this...
Insights
Read about the latest thinking from our portfolio managers pertaining to our business.
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William A. Goldstein
- Jul 7
- 1 min
A Cloudy Crystal Ball, But…..
During the first half of 2022 stocks declined 20% as measured by the S&P 500 Stock Index. The decline reflected, rising inflation,...
Brian Zavalkoff
- Jul 5
- 2 min
A First Half to (Not) Remember
The first half of 2022 proved to be the worst first half equity performance since 1970 with the S&P 500 declining by 20.0% and the Nasdaq...
Joan Giardina
- May 3
- 3 min
Keep Calm and Carry On Redux
“Economic progress, in a capitalist society, means turmoil.” Joseph A. Schumpeter April was a brutal month for investors. Both equity...
Brian Zavalkoff
- May 2
- 4 min
Caught in a Negative Feedback Cycle
As you most certainly have noticed, financial markets have been correcting through the first four months of 2022. The S&P 500 dropped...
William A. Goldstein
- Apr 5
- 1 min
What Do I Own?
The answer to this question has never been more important. During the first quarter of 2022, we have witnessed several dramatic events...
Brian Zavalkoff
- Jan 20
- 1 min
Quick Market Update - 1/19/22
The S&P is down 5.9% from its highs. My best guess is that we may have another 2%-5% to go with the pullback but, obviously, psychology...
William A. Goldstein
- Jan 6
- 1 min
2021 A Year of Risk
Investors displayed an appetite for risk and volatility in 2021 – a year of social-media-created meme stocks such as AMC Entertainment,...
Brian Zavalkoff
- Jan 4
- 7 min
2021 Year in Review and 2022 Market Outlook
2021 Year in Review As strange as it may sound given uncertainty over the global pandemic, many of the most important drivers for equity...
William A. Goldstein
- Oct 7, 2021
- 1 min
Uncertainty Breeds Volatility
Stocks finished another volatile quarter with the market ending little changed. The Standard & Poor’s 500 Stock Index rose 0.6% despite a...
Brian Zavalkoff
- Sep 14, 2021
- 2 min
Has the year-to-date increase in the S&P 500 been irrational?
With the S&P 500 Index gaining approximately 20% year-to-date, some clients have expressed concern about whether the U.S. equity move has...
William A. Goldstein
- Jul 8, 2021
- 1 min
The Stock Market is A Leading Indicator
An old Wall Street joke: The stock market has predicted ten of the last two recessions. The stock market is a leading indicator of...
Joan Giardina
- Apr 21, 2021
- 3 min
"Keep Calm and Carry On" #9
Hopefully, we have built up some “keeping calm” skills in the last year. We are going to need them. We thought lockdowns were tough, but...
William A. Goldstein
- Apr 5, 2021
- 1 min
Inflation?
Investors are always focused on the prospects for rising inflation. Since the first of the year, the yield on the 10 - year Benchmark...
William A. Goldstein
- Jan 11, 2021
- 2 min
The Big Questions
Looking to 2021 there are several reasons for economic optimism: A Covid-19 vaccine is in the process of delivery. Government stimulus...
Brian Zavalkoff
- Jan 4, 2021
- 5 min
2020 Year in Review and 2021 Market Outlook
2020 Year in Review As I ponder how to describe 2020, I struggle to find appropriate words. Let me begin by borrowing a sentence I used...
Joan Giardina
- Dec 19, 2020
- 3 min
“Keep Calm and Carry on” #8
December 31st is taking on a lot of significance this year. It is an artificial deadline, but it is also an opportunity to take stock of...
Joan Giardina
- Sep 28, 2020
- 3 min
“Keep Calm and Carry on” #7
It doesn’t get any easier. Sources of anxiety are coming at us from multiple fronts--the corona virus, politics and issues of social...
Joan Giardina
- Jul 9, 2020
- 3 min
“Keep Calm and Carry on” #6
Our ability to achieve calmness is rooted in perspective. The current environment poses difficult challenges in finding the right...
William A. Goldstein
- Jul 7, 2020
- 1 min
Second Quarter 2020 Review
On Monday March 23rd, as I sat thinking about my quarterly letter, the Standard & Poor’s 500 Stock Index closed at 2,237.4. Today, as I...