An Investment Fiduciary

The Markets   The market completes a 180.   One of the most exciting driving sequences in movies may be the scene from Baby Driver  when “Baby” (a reluctant getaway driver) slings a red Subaru into a narrow 180-degree turn, slides backward between obstacles, and immediately pivots into another 180-degree turn, all while perfectly in sync with the beat of his music.   Since mid-February, the U.S. stock market has offered a similarly exciting ride.   The Standard & Poor’s 500 I

The Markets   Sunny with a chance of rain.   Last week, news of a two-week pause in the Middle East conflict was like a sunny day. Investors celebrated and the relief rally lifted U.S. stocks higher. “The cease-fire announced on Tuesday led to the best day for the stock market in almost exactly a year,” reported Avi Salzman of Barron’s.   On Friday, though, some clouds appeared on the horizon. U.S. economic data and Middle East damage assessments gave investors pause, and the

The Markets   The first three months of 2026 felt a bit like summer school.   In summer school, students learn a lot in a short amount of time. A normal semester gives students about 15 to 17 weeks to learn, but summer classes cram all that information into 6 to 8 weeks. The lessons move quickly and it can be hard to keep up.   That’s what the markets felt like in the first quarter of the year. Investors had to take in a lot of new information very quickly to keep up with eco

The Markets   U.S. stocks moved lower last week.   The journey toward long-term financial goals is often interrupted by unexpected events that create stress and uncertainty. That’s one reason financial plans are built with a keen eye to risk tolerance. When disruptive events occur and financial markets lose value, even the most experienced investors have questions and concerns.   Over the last few months, markets have traveled a particularly bumpy road. We’ve seen:   Geopolit

The Markets   The interest rate outlook shifted.   Last week, central banks around the globe met to set policy rates. While most chose to leave rates unchanged, many expressed concern about the potential economic consequences of the War in Iran, reported Holly Ellyatt of CNBC.   “Central bankers in Japan, Indonesia and Taiwan opted to stay on the sidelines, as did their counterparts in the U.S., Canada, the U.K. and Europe. The notable exception was Australia, where policymak

The Markets   Stagflation worries rise.   Over the past couple of weeks, the term stagflation has been popping up a lot. The United States experienced stagflation, which is a combination of high inflation, slow economic growth, and high unemployment, during the 1970s. The possibility of another round of stagflation is concerning because it’s difficult to fix, explained Denny Center Student Fellow Ian Stubbs at Georgetown Law.   Oil shocks and stagflation   In the 1970s, two o

The Markets  Energy disruptions, rising prices, and a weak jobs report cloud the economic outlook.   It would take a lot more space than we have here to discuss everything that happened last week and the many ways these events may affect financial markets and the economy. So, we are going to focus on energy, inflation, and employment.   Energy: Strait to a standstill   The Strait of Hormuz is in the news. As we learned during the Iran-Iraq War (1980-88), the narrow passage is

The Markets   Artificial Intelligence (AI) is the new Industrial Revolution.   Last week, market volatility reflected uncertainty about how artificial intelligence will reshape the economy. Early in the week, a report titled “The 2028 Global Intelligence Crisis” alarmed investors by describing a hypothetical future where artificial intelligence tools greatly improve productivity, causing white-collar jobs to vanish, and unemployment to rise above 10 percent.   Innovation and

The Markets   When it rains it pours.   People respond in different ways when they’re caught in a downpour without an umbrella or rain gear. Some walk as they seek shelter, others run. Occasionally, on warm days, people may celebrate the storm by dancing in the rain or stomping puddles.   Last week, investors responded to a deluge of news and data in a variety of ways, making for a volatile week in the U.S. stock market. Here is a brief review of some of the issues they encou

The Markets    AI is reshaping the world – and markets are jittery.   Last week, investor attitudes continued to shift. Instead of celebrating AI as a growth engine, they focused on its potential as a business disruptor. The catalyst for this change was the introduction of AI tools that automate tasks in legal services, coding, financial research, and freight shipping. The news generated a wave of stock selloffs, reported Jeran Wittenstein, Ryan Vlastelica, Phil Serafino, and

The Markets     Investor mood matters.   Over the past month, we’ve seen five sharp stock market declines – and five rebounds, reported Charles Riley of Bloomberg. He pointed out that market declines often go hand-in-hand with a change in the economic outlook, but that’s not the case this time. The economy appears to be doing reasonably well.   The declines and recoveries reflect investor sentiment and uncertainty, reported Carmen Reinicke, Alexandra Semenova, Vildana Hajric,

The Markets   It was a busy, busy week.   If you just looked at the weekly return for the Standard & Poor’s (S&P) 500 Index, you might assume the United States stock market was relatively calm last week. It was not. A lot happened last week – and some news moved markets. Here’s a brief recap:   The Federal Reserve (Fed) held the federal funds rate steady . The Fed’s decision was expected and had little effect on U.S. stock markets. Chair Jerome Powell confirmed ‘the economy i

The Markets   Geopolitics roiled financial markets.   Just a couple of weeks ago, many analysts and asset managers expressed broad optimism about the potential performance of United States stock markets in 2026 – and the stock market started the year strong. “The S&P 500 closed at new records three times in the first seven trading days of 2026, and isn’t far from its all-time high,” reported Teresa Rivas of Barron’s in mid-January.   U.S. stocks moved lower last week   Early

The Markets   Investor appetite broadens.   For a long time, investors have craved artificial intelligence (AI) related investments. Early in 2026, that’s begun to change. Paul R. La Monica of Barron’s reported:   “Everywhere you look, stocks of all stripes are hitting new highs. That should be great news for investors as the market broadens out to start 2026…The broadening of the rally is picking up steam. You wouldn’t know it from looking at the major indexes…While the decl

The Markets   A change in leadership.   Last week, investors were presented with a stew of economic and policy developments. These included the surprising announcement that the United States would “run” Venezuela, disappointing jobs data, signs of improved consumer optimism, and a flurry of new policy proposals. Investors weighed what it all means for financial markets, and stocks moved higher.   Here’s what happened:   Geopolitical tensions heightened . “The arrest and indic

The Markets   Lots of people are willing to predict what’s ahead.   If the past is prologue, few will be accurate. You don’t have to look far to find an example. In 2023, a majority of economists agreed recession was ahead. They were wrong. Tyler Cowen of Bloomberg explained:   “Last year at this time, 85 [percent] of economists in one poll predicted a recession this year — and that was an optimistic take compared to the 100 [percent] probability of a recession forecast two m

The Markets   What is the most important principle of investing?   People have different opinions, but these three tend to be at or near the top of the list:   Have a plan for reaching your financial goals. Hold a diversified portfolio that reflects your goals, circumstances, and risk tolerance. Keep a long-term perspective (a.k.a. avoid short-term noise, exercise long-term discipline).   2025 offered some wonderful opportunities for investors to practice that last one.   “It

Happy holidays!   Over the past year, financial markets reminded all of us that progress is rarely linear. As markets gyrated higher and lower, one truth remained constant – building wealth is the result of diversification, discipline, and thoughtful planning.   An important aspect of planning is the year-end review. If you haven’t yet taken steps to make sure your portfolio is well-positioned for 2026, here are some important things to consider as 2025 comes to a close:   Po

The Markets   Last week, the United States Federal Reserve (Fed) played “Would You Rather?”   Would You Rather? is a board game that presents players with classic dilemmas and asks which options would be more palatable to them. For example, a game card might ask, Would you rather:   ·         Be able to run on your hands or write with your feet? ·         Eat chocolate-flavored broccoli or broccoli-flavored chocolate? ·         Have the ability to see 10 minutes into the futu

The Markets   It’s beginning to look a lot like a rate cut…   A lot of information about the economy arrived last week. Some was delayed by the government shutdown. Some was right on time. Investors took a look and decided their holiday wish could come true. The Federal Reserve (Fed) might deliver a cut rate cut this week. Here’s a brief recap of the information that landed just in time for the Fed to consider it.   Inflation rose in line with expectations . From August to Se