Outlook 2025 Summary

Pragmatic Optimism CLICK HERE TO READ THE FULL 2025 OUTLOOK Looking back, 2024 clearly echoed many of the themes from 2023. By and large, the economy continued to defy expectations and surprised once again to the upside. Stocks continued their strong performance, driven by powerful trends in artificial intelligence and technology. On the other hand, […]

December 2024 Client Letter

December 4, 2024 Dear Valued Investor, Solid gains for stocks gave investors a November to remember. In fact, the S&P 500’s more than 5% advance marked its best month of 2024. Several factors played into the stock market’s continued move higher. The U.S. economy continued its steady run of solid growth. The Federal Reserve (Fed) […]

NOVEMBER 2024 CLIENT LETTER

November 6, 2024 Dear Valued Investor, Donald Trump was elected the 47th president of the United States, defeating Vice President Kamala Harris thanks to strong performance in key swing states that gave him 277 electoral votes to 224 for Harris (according to The Associated Press, while five states have yet to be called). The gains […]

October 2024 Client Letter

October 2, 2024 Dear Valued Investor, Finally! For the first time in more than four years, on September 18, the Federal Reserve (Fed) cut interest rates. While the debate over how big the cut would be was settled (a half point, not a quarter), questions about where the Fed will go from here and what […]

September 2024 Client Letter

September 4, 2024 Dear Valued Investor, With fall upon us and students back in classrooms, it seems like a good time to reflect on the various tests that the U.S. economy and stock market have passed recently. When the economy and markets are tested, the foundation for future growth and capital appreciation gets stronger. The […]

August 2024 Client Letter

August 6, 2024 Dear Valued Investor, Stocks must have gotten the memo that August tends to be weak historically. July, the eighth positive month in the past nine, was quickly forgotten as the beginning of August greeted us with a selloff. The primary catalyst was August 2’s weaker-than-expected employment report, which ignited concern that the […]