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Market Commentary

December 2018 Market Update

December 27, 2018

Written by  Brian Johnson, Chief Investment Officer Summary:  The current market decline has yet to show signs that it is bottoming out.  It is likely, therefore, that we’ve further to go on the downside before stocks begin moving meaningfully higher again.  We’re glad that we reduced risk/stock exposure in our strategies twice this year –…

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November 2018 Market Update

November 29, 2018

Written by Brian Johnson, Chief Investment Officer Summary: It’s been hard to find positive returns in 2018. We’ve made a number of allocation updates within our models to respond to the evolving landscape. If market and economic indicators continue deteriorating in the weeks and months ahead, we may reduce risk even more. Logistically, getting in…

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October 2018 Market Update

October 17, 2018

Written by Brian Johnson, Chief Investment Officer Summary: Equity markets had a solid 3rd quarter, but they have become much more volatile recently. The bond market looks to have ended its 35+ year bull run (interest rates falling, bond prices rising). The recent volatility is a reminder of the importance of rebalancing portfolios. After a…

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September 2018 Market Update – A Few Thoughts

September 19, 2018

Written by Brian Johnson, Chief Investment Officer Summary: U.S. stocks (equities) remain in a secular (10-20 year) bull trend. International markets have not done as well recently, but they remain attractive for long-term investors. In lieu of an analysis of one aspect of the market, this month I’m sharing thoughts and interesting pictures on three…

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August 2018 Market Update -The Longest Bull Market Ever? Not So Fast…

August 30, 2018

Written by Brian Johnson, CIO Summary: This isn’t the longest bull market in history.  In fact, it’s pretty average. If you’ve picked up a newspaper or turned on the TV in the last few weeks, you’ve likely heard someone quoting statistics suggesting that this is now the longest bull market in history.  I’ve had more than…

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July 2018 Market Update

July 19, 2018

Written By Brian Johnson, CIO Summary: Our investment strategies have been “overweight” equities (stocks) for several years now. We’re currently in the process of reducing client portfolios exposure to a more “neutral” stance. The bull market is not necessarily over, but the risk of a substantial correction has increased enough to warrant a more neutral…

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June 2018 Market Update

June 20, 2018

Written by Brian Johnson, CIO Summary: We’re watching volatility levels carefully, as they are a key indicator that a correction may be afoot in equities markets.  At present, volatility is elevated but not alarmingly so. The historically low volatility in equities markets that we experienced in 2017 has, as expected, returned to “normal” in 2018.…

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May 2018 Market Update

May 16, 2018

Sell in May and Go Away? By Brian Johnson, CIO and Partner Stock Market Summary: Signs suggest that the market correction that began in late January has been primarily sentiment-driven and is nearing its end. A healthy earnings season, led by the technology sector, could be just the medicine the market needs to resume its…

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April 2018 Market Update

April 12, 2018

By Brian Johnson, Chief Investment Officer Summary: Signs point to this correction likely being sentiment driven and nearing its end. A healthy earnings season, led by the technology sector, could be just the medicine that the bull market in stocks needs to resume its upward trend. The father of value investing, Benjamin Graham, liked to…

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