January 2023 In 2022 US stocks fell 18% measured by the S&P 500 and the US bond market dropped a spectacular 15% measured by the Aggregate Bond Index, AGG, reflecting the entire US investment grade bond market. The year also marked the end of aggressive monetary policies that pushed asset values to extreme levels as investors sought out increasingly speculative investments and […]
Financial Market Commentary, July 2022 High or rising inflation creates a significant challenge for many financial assets. With the spike in inflation during the first half of 2022 we witnessed a 20% decline in stocks measured by the S&P500, a 10% decline in bonds, measured by the US Aggregate bond index, and longer duration corporate bonds falling closer to 15%. Inflation hurts […]
September 2022 Investing in passive, low cost, index-based exchange traded funds (ETFs) continues to produce superior results compared to actively managed funds. This is especially true in the largest investment categories such as large capitalization U.S. stocks which compose 93% of the U.S. stock market. As highlighted below, only 9% of large cap active managers in the blend category produced better […]
