All Authors

Recap The third quarter brought back volatility after a first half rebound, with stocks and many bonds giving up some, and in many cases, all year-to-date gains. Pain came towards the second half of the quarter, post-earnings season. This recalls a common refrain from a mentor and former colleague who would quip in various ways at the start of any quarter that the best time for stocks was when focus was on fundamentals and actual reported earnings. Market attention wanders toward other headlin

It would be avant-garde if we had ChatGPT write this quarterly letter. Alas, we did not. Humans still write this (for now!). Speaking of things that are not happening, we take comfort in writing a quarterly letter without need to use the word “unprecedented.” Each of the calendar years 2020, 2021, and 2022 were rife with events and markets which best were characterized as such. Fast forward to mid-2023 and the overriding sentiment is one of markets healing – equity valuations mean revert and i

The curse of living in interesting times has continued at the start of 2023 with the intersection of banking running headfirst into the clutches of the “artificially” intelligent future. Relative to last year, the first 45 days of this year felt normal by most comparisons, though we quickly came to learn there were new concerns lurking in the background. For those who may not have seen, within the span of only a few short days, two banks – Silicon Valley (SVB) in California and Signature Bank

What Can an OCIO Help With? While hiring an Outsourced Chief Investment Officer (OCIO) may seem like it has a high initial cost, and may feel like you are possibly giving up control of your investments’ performance, it can actually be the opposite. Hiring an OCIO gives you access to experience and resources you may not otherwise have, while also freeing up time for other tasks and eliminating or reducing costs that will improve the value proposition and experience for the client. Learn more her