4Q 2019 Cornerstone Commentary

Those persons are happiest in this restless and mutable world who are in love with change, who delight in what is new simply because it differs from what is old; who rejoice in every innovation, and find a strange alert pleasure in all that is, and that has never been done before. – Agnes Repplier…

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2Q 2019 Cornerstone Commentary

It wasn’t raining when Noah built the Ark. – Warren Buffet The second quarter of 2019 proved to be quite interesting for investors.  The first quarter rally continued into April only to be followed by a scary drop in May precipitated by aggressive trade rhetoric and recessionary fears.  U.S. Fed Chair Jerome Powell came quickly…

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1Q 2019 Cornerstone Commentary

Whoso would be a man, must be a non-conformist…Nothing is at last sacred but the integrity of your own mind. – Ralph Waldo Emerson After the disastrous decline of the fourth quarter compounded by a dismal December, the first quarter provided welcome relief to beleaguered equity holders.  In the face of ongoing concerns including a…

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4Q 2018 Cornerstone Commentary

Courage is resistance to fear, mastery of fear, not the absence of fear. – Mark Twain What a difference a quarter makes; from the highs of September the market plumbed new lows in December!  As of our last missive, we had expected early 4th quarter negativity to give way to a year-end rally.  Instead, the…

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2Q 2018 Cornerstone Commentary

Volatility continued to be a significant factor in the second quarter of 2018. Surprisingly, REIT’s rallied strongly and along with small cap domestic stocks led the way as we reached the half-way mark of 2018. The rally in REIT’s is of particular note because of the continued upward trend in interest rates and may reflect…

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1Q 2018 Market & Economic Commentary

The first quarter of 2018 certainly proved to be significantly more dramatic than 2017! Following a very strong January, the market tanked in February, down 10% descending rapidly into correction territory. However, despite global trade concerns, markets managed to stage a comeback in March, ultimately ending the quarter just below break-even. Source: Dimensional Fund Advisors…

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4Q 2017 Market & Economic Commentary

Well, 2017 is in the history books. In many ways it was a banner year, and yet due to declining volatility throughout the year there was little market drama of note. Rather, the market simply marched higher and higher throughout the year with nary a 3% decline to be found. The S&P 500 moved up…

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3Q 2017 Market & Economic Commentary

While news about Hurricanes Harvey and Irma dominated the headlines during the latter part of the 3rd quarter, markets continued their steady march toward new highs. Despite the significant disruption to the Gulf Coast economy brought about by two substantial storms, U.S. economic growth remained robust. It is significant to note that despite their destructive…

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