Insights

4th Quarter 2025 Commentary & Outlook Before we embark on a new era of unheralded efficiency and prosperity ushered in by artificial intelligence (AI), and coming off a three-year 85% gain in the S&P 500 index, a moment of gratitude is appropriate. We are grateful to you, our clients, who are our raison d’être, as […]

3rd Quarter 2025 Commentary & Outlook Significant changes are often accompanied by constraints. The internet boom required fiber optics to handle the telephony volume and mobile phones required hundreds of thousands of cell towers. If one can anticipate what constraints might be caused and position themself accordingly, constraints can be a thing of beauty. We […]

1st Quarter 2025 Commentary & Outlook It is hard not to start with the recent market turmoil and the Trump Administration’s tariff policies. Before we do, we will first pause and thank you for your support in the last year. We have spent most of the year focusing on serving you, our clients. To us, […]

As we write, the fires are still raging in Los Angeles, and the devastation continues. On the other side of our country, we are preparing for the new Administration and changes that could be significant. Both instances remind us that the unexpected and improbable happen regularly. It is our job to prepare for short-term surprises […]

For those who are reading our commentaries for the first time, welcome. For those who have been reading these for years, this will be a little different. In addition to our market outlook and thoughts on managing wealth, we will delve into why at times it may seem we are “illogical” when managing our money […]

1ST QUARTER SUMMARY The economy remained stronger than most anticipated, investors felt confident, and most securities prices rose. Employment is strong and when people have jobs, they spend money. Consumer spending accounts for 67.7% of the US economy and has been the case for the last 15 years. One must go back to 1978 before […]