The decline of US stocks the past few weeks is neither cause for panic nor celebration. Rather, pending the development of circumstances making for a compelling trade opportunity (about which we would separately communicate), this is a chance to observe the benefits of investing broadly and limiting the stock concentration that would result from adhering […]
This is the time in the calendar when we write about the prior year and our thoughts about the investment environment moving forward. This year, the timing coincides with us recommending an adjustment across client accounts (separate correspondence about the specifics of trading, if applicable, will follow as needed), so that will be the focus […]
Several days removed from the conclusion of this presidential election cycle, we find ourselves revisiting the remarkably familiar themes that surrounded the 2016 election, and observations we shared at that likewise transitional time, many of which continue to be relevant today. As was the case then, and with a second Trump administration set to take […]
As we approach election day, we expect that many of you, like us, are experiencing varying measures of anxiety, anticipation, hope and apprehension. There are many “what ifs” to contemplate, and some that may keep you up at night, but as we review historical norms, market sentiment, and analytical data, we’re comforted that elections, at […]
Summer is supposed to be the season when the only thing to pursue seriously is leisure. The culture sections of newspapers (or their online equivalents) are loaded with lists of books you should read at the beach. Of course, that’s essentially an unreachable ideal, like your author keeping his truck washed. (A little Vashon humor […]
With the summer travel season nearly upon us, we are put in mind of the inevitable waiting involved. Waiting in airports. Waiting on family members. Waiting in line for amusement rides. Federal Reserve Chair Powell’s press conference following the most recent Fed meeting had the same feeling as when the airport gate attendant finally announces […]
The close of 2023 finds us in mind of two overlapping trends: one short-term and recently driving financial markets to a handsome rally at year’s end, and one long-term that bodes for change and challenges in financial markets as we enter a period with marked differences, certainly from the Covid pandemic and the policy responses, […]
Sometimes less is more. We all know the saying, but seeing it effected in life—through art, sport, business, parenting, gardening—is the exception rather than the rule. Imagination more frequently bends towards complexity. With that in mind, we endeavor to make this quarterly review more compact and to share some thoughts near the end about simplifying […]
Most of us, thankfully, only know what a bank run looks like from movies and television, most famously from the film It’s a Wonderful Life, a holiday staple of broadcast television in the past. George Bailey (played by Jimmy Stewart), desperate as a young man to leave his hometown of Bedford Falls, is waylaid in […]
The turn of the year marks the start of many rituals. In our financial planning practice, we report to clients and their tax accountants about their investment income and expenses in the previous year. And of course, we write letters like this one summarizing the year past in financial markets and giving reflections and observations […]