What the Iran Conflict Means for Investors
The U.S.-Israeli joint operation in Iran has now been underway for several weeks, and after an onslaught of news coverage and hyperbolic commentary, many investors are wondering what it means for the markets. The truth is, not even the highest-level experts know exactly where this conflict is headed. By the time this newsletter is finished […]
The Stock Market Year End Review
Patience, not prediction, continues to win. The market, as measured by the S&P 500, finished 2025 up 17.8%. That is almost unthinkable considering how much the market had already run in 2024. Not a single analyst at a major Wall Street bank predicted a return that large. In fact, no one was even close except […]
Market Update – September 2025
We are now 70% of the way through the year, and it has been quite a ride for investors. The S&P 500 is up 13.5% year-to-date, even after experiencing an18% pullback back in March. Other markets have also delivered strong results: A common topic of discussion this year has been the dominance of the so-called “tech […]
Market Update: What Is Driving The Stock Market’s New Highs?
The S&P 500, the main yardstick for U.S. stocks, has once again reached record highs. A mild inflation report gave markets a boost, reversing a brief dip caused by a downward revision to earlier job numbers. Bonds have also climbed in value as investors grow more confident that the Federal Reserve may cut interest rates […]
New Deductions, New Highs: What Changed After the July 4th Tax Bill
Market Update, July 2025 I hope everyone enjoyed a wonderful Independence Day weekend. Since the last July 4th, the S&P 500 has risen nearly 15%, the Nasdaq by nearly 14%, and international stocks by more than 16%. As recently as April 8th, the S&P 500 marked its low for the year, having fallen more than […]
Market Update, June 2025
As we approach the midpoint of the year, the S&P 500 has already made a full recovery (as of May 13th) from its 15.28% decline, and the index seems to be itching to get to its prior all-time-high that was set on February 19th. International stocks are up 14% in 2025 and the total bond market […]
Market Update, May 2025
On April 8th, the S&P 500 was down 15.28% year-to-date. It has since recovered and is now down only 5.45% year-to-date. It’s a nice recovery—though, of course, the index is still negative for the year. Fortunately, other components of a diversified portfolio are positive in 2025! The total bond market is up 3%, and international […]
Ukraine War Market Impact Update
Since the war in Ukraine began, its effects on the financial and energy markets have dominated the financial news. I decided to send this quick newsletter update to address some common concerns. 1. First, some perspective: The stock market has actually been mostly flat since Russia invaded the Ukraine on February 24th. Much of the market decline […]
Summer Market Update
After a great performance for the stock market in 2019, I concluded the year’s final newsletter with, “I anticipate a rockier ride in 2020.” I had no idea how rocky the ride would end up being. The stock market continued its upward climb until February 19th, when the U.S. began locking down and the S&P 500 began its […]
Can the market justify “new highs?”
Since headlines of “new market highs” have been in the news, I have fielded many questions and concerns about how the market can be setting new highs (the S&P500 was down over 30% in March! It seems so long ago…) while we are in a pandemic induced recession where things have not yet returned to normal. There […]