Market Ethos - The good news and the bad news Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on Jun 28, 2022 We, and just about anyone else penning market missives, have been referencing the coming economic slowdown. And it is literally what tightening financial conditions are trying to achieve – with slow growth and lower aggregate demand, inflation will fall... Read more
Market Ethos - A challenging week for investors Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on Jun 20, 2022 To borrow from Lenin, last week was one of those market weeks where it seems like there was a year’s worth of moves. As of the close, we saw: The U.S. Federal Reserve raise the Fed Funds rate by 0.75% – the largest single meeting move since 1994. The... Read more
Market Ethos - Peak inflation? We’re not there yet. Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on Jun 14, 2022 The biggest market-moving economic data, the U.S. Consumer Price Index (CPI), rose 1.0% in May, bringing the one-year tally to +8.6%. One little silver lining: core CPI (which excludes food and energy) was 6.0% for the year, down from last month’s pace... Read more
Investor Strategy - Passive or Active? Why not both? Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on Jun 07, 2022 This month, after our lookback to May’s market activity, we will get into the debate between active and passive management. Or more appropriately, dispel that it should be a debate at all. The two styles are a good compliment to each other, when used... Read more
Market Ethos - QT Begins, but it’s yesterday’s news Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on May 31, 2022 In today’s Ethos, we walk through recent quantitative easing (QE) and quantitative tightening (QT) decisions, where we stand with today, and how these Federal Reserve maneuvers have impacted us. Without getting deep into the mechanics, QE injects liquidity... Read more
Market Ethos - The shift: From inflation to recession? Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on May 31, 2022 As you probably notice in financial media and in your real life, everyone is talking about inflation. This should not be viewed as the wisdom of the crowd as once an economic topic reaches the masses, it is often priced into the market and potentially... Read more
Market Ethos - When will it end? Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on May 17, 2022 Two big questions during this market drop - is it almost over and is there a recession coming? In this edition we share our views on both. Capitulation readings and valuations are encouraging, but we certainly did inflate asset prices over the past few... Read more
Market Ethos - On the Passage of Time Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on May 10, 2022 Today we reflect on how slowly time passes when markets are in turmoil! Let’s turn away from emotion that can cause portfolio errors at these moments, and embrace some cold, hard data. Valuations are starting to look good, and forward-looking portfolio... Read more
Investor Strategy - Portfolio Construction, continued: Fixed Income Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on May 02, 2022 This month, the nature of the downdraft in markets gives us a good opportunity to revisit the portfolio construction theme. While the markets deserve their splatter of pixels (which we give briefly in the market recap), we focus on the fixed income portion... Read more
Market Ethos - Bonus Edition: Correction goes warp speed Filed Under: Investment Services | Portfolio Management | Wealth Management Published by Dolores Jandoc on May 02, 2022 In this bonus edition of Ethos, we talk about how the Fed went from being the market’s bestie to that ex-friend who likes to run away with your punch bowl. The speed of equity declines this past week could mean that something, somewhere is broken. We... Read more