May 2026 Market Commentary

THE RALLY CONTINUES:  ODDS AND ENDS The rally in the S&P 500 continues and is up 13% since March 30 – and over 15% for the Nasdaq 100 (very tech weighted).  This is now the 10th longest bull market in history.  To move into ninth place, this bull only needs...

April 2026 Mid-Month Recap

If you find that your portfolio’s investment returns are dominated by a small handful of stocks, you are not alone. We have experienced the same thing. Burton Malkiel (renowned author of the classic “A Random Walk Down Wall Street”) did a recent study about this...

April 2026 Market Commentary

EARNINGS DRIVE STOCKS, NOT HEADLINES The drawdown in stocks has been accelerating since our last commentary.  Through yesterday the S&P 500 is down 7.3% YTD and Nasdaq 10.5%.  The average stock in the S&P 500 is down over 20% since the market peak late last...

March 2026 Mid-Month Recap

In January we wrote the “three-headed monster” (courtesy of Bespoke Investment Group) was flashing green. The three variables – oil, Treasury yields, and the dollar – were all in downtrends which bodes well for stocks.  In the last three weeks we have seen a massive...

February 2026 Mid-Month Recap

U.S. small caps and international stocks are leading the performance race so far in 2026. In the U.S. market, large cap value is outperforming large cap growth.  Growth stocks are struggling – down 3% this year and down 8.6% since the Nasdaq peak on October 29th of...