Posts by atpw_admin

2018 Q3 Investor Quarterly Market Commentary and Investment Perspectives

Greetings, The third calendar quarter of 2018 saw a more marked divergence in global economic and market conditions than had been seen in prior quarters, as several factors we will address in this Report have led to a “decoupling” of the U.S. economy, and its debt and equity markets from the “globally synchronized expansions” of both we’ve observed in the prior six to eight quarters. Read the full article in the downloadable PDF »
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October 2018 Market Update

Dear Clients and Friends, Several of you have reached out to our team the past two days to ask our opinions about the market volatility we’ve seen Wednesday and Thursday, and what it means for markets going forward, and by extension, what it means for their portfolios. We thought it appropriate to provide a quick message as to our sense of the markets’ near term directions. Read the full article in the downloadable PDF »
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2018 Q2 Investor Quarterly Market Commentary and Investment Perspectives

Greetings, The second calendar quarter of 2018 witnessed a continuation of the stock market’s volatility that manifested itself in early February of this year but was virtually absent in 2017. The S&P 500 Index, the most widely recognized proxy for U.S. Stocks, ended the second quarter of 2018 at 2,718.37, delivering a total return (including dividends) to investors for the period of +3.43%. The relatively modest size of the gain belied the Index’ broad trading range of (approx.) 8% throughout the quarter, from its closing low of 2,581.88 (April 2nd), to its closing high of 2,786.85 (June 12th). Read the
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2018 Q1 Investor Quarterly Market Commentary and Investment Perspectives

Greetings, The first calendar quarter of 2018 saw the end of the longest consecutive monthly gains (fifteen) for the S&P 500 Index in history, a “flattening” of the U.S. bond yield curve, a “narrowing” of credit spreads, and a change in the leadership of the Federal Reserve Bank. The S&P 500 Index started the year in a continuation of the strong 2017 advance (+21.14%, including reinvested dividends), rising +7.45% the first three-plus weeks of the year to its record high level of 2,872.87, before plummeting (-10.16%) over the next nine trading days. It bounced around the mid-point of those two
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April 2018 Special Report: Weighing the Evidence

Greetings, Unless you’ve recently returned from a very long vacation to someplace so remote that news doesn’t reach it, you’re probably aware that the capital markets are behaving far differently in 2018 than they were in the prior year. This special April 2018 report digs into the evidence evident in the market and the potentially positive and negative results of what lies ahead. Read the full article in the downloadable PDF »
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