Insights
Why We’re Cautious Near Term and Constructive Longer Term. The Key Is Rates.
As we near year-end, we are cautious about S&P 500 returns in the near term. Our S&P 500 targets for year-end 2023 and mid- to late-year 2024 remain the same at 4,500 and 4,800 to 5,000, respectively. Clearly, these are relatively constructive figures. Our...
Stock Market or Market of Stocks?
Over my 40+ years of being involved in the business of professional investment practice, I have been blessed by being in the United States. Since coming into this business as a young man, I have witnessed good and bad times, but the good experiences outnumber the...
It’s A Mad, Mad World… So Mad That We Are Still Outrageously Neutral
“It would be so nice if something made sense for a change.”—Lewis Carroll, “Alice in Wonderland” August didn’t begin so well, as the S&P 500 pulled back about 4.5% through the first three weeks of the month, but it rallied in the final few days to make for a “much...
July Was Another Winner for the Markets…Time for a Breather?
“Things turn out best for the people who make the best of the way things turn out.” – John Wooden Despite Skepticism, the Rally Is Real The S&P 500 got off to a good start in the second half of 2023, rising roughly 3% in the month of July.1 The Index has risen...
Outstanding First Half. Do We See a Market Upswing or a Fade During the Rest of 2023?
“Extraordinary magic follows you aroundand the camera can’t catch it,you won’t see it in the mirrorbut I see it, I see it…I see extraordinary magic in you.”—Lyric from “Extraordinary Magic” Nasdaq & S&P 500 Advance It’s very hard to come up with a phrase to...
Market Review: Time to Look on the Bright Side?
When you’re chewing on life’s gristle, don’t grumble, give a whistle and … always look on the bright side of life. — Lyrics from “Always Look on the Bright Side of Life” from the film “Life of Brian” Taking a look back at May market activity, the S&P 500 extended...