“History shows us, over and over, that bull markets can go well beyond rational valuation levels as long as the outlook for future earnings is positive.” – Peter Bernstein Normally a hard month for investors, September was positive almost across the board for all the indexes we follow. The lone … Read More
Stock Market Commentary: September 2024
“Stay humble or the market will do it for you.” – Todd Harrison August, what we have observed to be a month that can be hard on investment returns, turned out to be a decent month for investors. US large cap stocks did well, with the Dow Industrials and S&P 500 both posting positive gains. … Read More
Stock Market Commentary: August 2024
“The point of investing, after all, is not to have a great story to tell; the point of investing is to make money with limited risk.” - Seth Klarman While we do not make big, declarative statements on the markets, we see the market action in July as a possible turning point for the markets. … Read More
Stock Market Commentary: July 2024
“You can't predict. You can prepare.” - Howard Marks June was a mixed month for equity investors. Large cap indexes continued their upward assent as the small-cap and mid-cap indexes retreated for the second straight month. International equities – laggards for the past decade – have at least … Read More
Stock Market Commentary: June 2024
“You can't predict. You can prepare.” - Howard Marks While there has been a divergence in 2024 amongst the various equity indexes we follow, May was a positive month across the board. The S&P 500 has been the best performing year-to-date, with the mid-cap S&P 400 lagging and the … Read More