NOVEMBER 2025 CLIENT LETTER

November 5, 2025 Dear Valued Investor, The last week of October delivered a flurry of impactful headlines across earnings, monetary policy, and geopolitics — each shaping the investment landscape as we head into year-end. Here are some key takeaways: Corporate America continues to impress. We’re now more than 70% through third quarter earnings season and […]

OCTOBER 2025 CLIENT LETTER

October 1, 2025 Dear Valued Investor, The October 1 deadline has passed, and the U.S. government has shut down. While political gridlock is never ideal, history suggests that shutdowns tend to be short-lived and have minimal sustained impact on the economy or the stock market. They are largely about political posturing and therefore don’t take […]

SEPTEMBER 2025 CLIENT LETTER

September 3, 2025   Dear Valued Investor, As summer winds down, the financial world remains focused primarily on the Federal Reserve (Fed). At last month’s Jackson Hole Economic Symposium, Fed Chair Jerome Powell signaled the Fed seems ready to cut interest rates later this month amid a slowing labor market and inflation risks poised to […]

AUGUST 2025 CLIENT LETTER

August 6, 2025 Dear Valued Investor, The last few days of July and the beginning of August have brought a flurry of key economic data, central bank activity, company earnings results, and tariff news. Here are some takeaways from the week of July 28: Slowing U.S. economy. Second-quarter gross domestic product grew at a 3% […]

2025 Midyear Outlook

Summary of the 2025 Midyear Outlook Read the full document here The is a summary of the midyear economic outlook for 2025, discussing market volatility, economic policy impacts, and investment strategies amid ongoing uncertainty. Economic Environment and Market Volatility The economic landscape in 2025 is characterized by significant volatility driven by policy changes and trade […]

2025 Midyear Outlook Executive Overview

Overview Volatility, as defined by Merriam-Webster, is “a tendency to change quickly and unpredictably” — a fitting description of the 2025 environment. The volatility has stemmed from assuming President Trump’s second term policies would mirror his first, as well as the subsequent impact of those new policy directions. As more hard data becomes available, we […]