Commentary and Research Papers
August 19, 2025
2025
Last week, President Trump announced the implementation of significant tariffs on goods exported from Mexico, Canada, and China. These tariffs threaten to raise prices and slow economic activity across all four countries. While Congress would usually be involved in setting tariffs, the actions came in the form of three executive orders, with the President claiming the right to impose the duties using emergency authority to combat the flow of illicit drugs, notably fentanyl. The orders will impose 25% tariffs on all goods imported from Mexico and Canada (with the exception of Canadian energy products, where the rate is 10%), and 10% on goods imported from China.
Read MoreRead MoreWatch NowCommentary and Research Papers
August 19, 2025
2025
Small capitalization value stocks could be well positioned for outperformance in the coming years. We believe active management can be a prudent and effective approach to these companies. We believe an active, long-term investment approach, focusing on sector diversification, intrinsic value (earnings and cash flow), and qualitative metrics (such as high-quality management teams) is the most effective way to exploit the opportunities that the small capitalization indices and passive ETFs may not capture. We employ this philosophy and approach in the Pinnacle Small Capitalization Value Portfolio (SCV).
Read MoreRead MoreWatch NowCommentary and Research Papers
August 19, 2025
2025
Ryan Fause, Wealth Advisor at Pinnacle Associates shares a quick market update - and invites you to join our upcoming Economic Webinar on February 4th. Register your place today!
Read MoreRead MoreWatch NowFact Sheets
November 4, 2025
2025
After a strong November, the small capitalization indices gave back their quarterly gains in December. The Pinnacle SCV Portfolio thrived during the month, on a relative basis. Our positions held up well and were bolstered by a slightly higher-than-normal cash balance and a company buyout (Cross Country Healthcare). We strive to keep the portfolio fully invested, typically maintaining a modest cash balance of around 2% to 4%. However, there are times when the market rises quickly, and we cannot find attractive opportunities for short periods. That happened in late November and early December. This situation generally balances out over time, and the pullback that began in December pullback is giving us some better opportunities.
Read MoreRead MoreWatch NowFact Sheets
November 4, 2025
2025
Stocks broadly advanced in the fourth quarter, but not without extreme volatility across the market cap spectrum month to month. After a slightly down October for equities overall, small and mid-capitalization stocks surged in November after Trump’s election victory, on expectations that deregulation and tax cuts would favor domestically focused companies, while tariffs would harm larger multinationals. Russell small cap indexes jumped low double-digit percentages for the month while the S&P 500 was up about half that, +5.9%. December, however, saw an abrupt reversal of this relative performance.
Read MoreRead MoreWatch NowCommentary and Research Papers
August 19, 2025
2025
After a strong November, the small capitalization indices gave back their quarterly gains in December. The Pinnacle SCV Portfolio thrived during the month, on a relative basis. Our positions held up well and were bolstered by a slightly higher-than-normal cash balance and a company buyout (Cross Country Healthcare).
Read MoreRead MoreWatch Now
Founded in 1984, Pinnacle Associates, Ltd. is a forward thinking, multi-billion dollar investment advisory firm focused on transparency and putting clients first. We provide advice to individuals and families, institutional investors and other financial institutions.
