Summary Sometimes a quarter passes and nothing much happens.  Other times, so much happens in a quarter that it seems like a full year.  The first quarter of 2022 falls into the latter category.  Supply bottlenecks and then, of course,…

Summary The stock market shrugged off several attempts at a broad sell-off last quarter to eventually end up about 11% higher.  Both November and December saw drawdowns of more than three percent before sharp reversals led to new all-time highs. …

Summary While it is technically true that the S&P 500 stock index added 0.58%[i] in the third quarter, it really didn’t feel that way.  Small cap U.S. stocks declined, midcap U.S. stocks declined, and foreign stocks declined - both developed…

Summary Stocks maintained their strong advance in 2021 by adding another 8.55%[i] last quarter.  Technology, Energy, and Real Estate led the way.  Economically, that makes little sense – technology, as a long-dated asset, should benefit from disinflation while energy (a…

Summary The stock market’s recovery continued in the first quarter of 2021 as all major categories of stocks made new highs.  For the quarter, U.S. stocks gained 6.17% (as measured by the S&P 500).  That said, the quarter was anything…