Despite plenty of fears that would send any varmint headed for the safe confines of its hole, stocks had a pretty good showing in the first quarter of 2015, although there was a high degree of dispersion (among different sized companies, factors, and sectors). The S&P 500 finished the quarter modestly higher, with a +1.0%… Read More

In a year that saw such things as Russian imperialism, the rise of a new terrorist group, fears of an Ebola epidemic, a 46.4% drop in the price of oil, the official end of the Fed’s QE program, and slower economic growth everywhere outside the US, the S&P 500 managed to post another respectable annual… Read More

It was a wild ride in the markets during the third quarter. The S&P 500 finished the quarter relatively flat, with a +1.1% total return, which was pretty respectable given the volatility caused by Fed fears and international headwinds. However, domestic mid-caps and small caps did not fare as well, at -1.7% and -7.4%, respectively…. Read More

Equity markets started off slowly in the second quarter (S&P 500 was flat for the quarter until May 20th), but ended up accelerating their overall advance from the first quarter, finishing the quarter +4.7% (+5.2% including dividends). Large and mid-sized companies continued to outperform smaller ones, while value outperformed growth. Following a brutal winter, which… Read More

At a summary glance, the first quarter of 2014 looks a bit boring. The S&P 500 finished the quarter up 1.3% (+1.8% total return, including dividends) with the bond market (represented by the Barclays Aggregate Bond Index) posting a total return of 1.8%. During those 90 days, plenty of surprises awaited investors. March 9, 2009   … Read More