Market Report

Key points for the quarter include: It was a tough quarter for many U.S. equity averages; we offer a refresher on value investing; disparity in performance and valuations across market segments was notable; and we continue our series on Risk vs. Uncertainty and the Decision-Making Process.

Key points for the quarter include: Equity markets marched higher; staying the course during turbulent times typically pays off; FOMO can be expensive; we discuss areas that often get investors into trouble; and we continue our series on Risk vs. Uncertainty and the Decision-Making Process.

Key points for the quarter include: The year ended on a high note; Seth Klarman succinctly summed up resisting temptation; returns and cash flow matter; fixed-income made a strong showing after a rough 2022; record U.S. oil production reduced the potential economic impact of unrest in the Middle East; and we continue our series, Risk vs. Uncertainty and the Investment Decision-Making process.

Key points for the quarter include: Headwinds prevailed; S&P 500 cap-weighted vs. equal-weighted performance disparity; yield curve flattened, making it less inverted; we provide historical context for negative calendar year stock and bond returns; minerals may create new boom towns in America; and we introduce a new series, Risk vs. Uncertainty and the Investment Decision-Making process.