Commentary 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!
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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.
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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.
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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).
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August 19, 2025
2025
What a remarkable year it was for U.S. equity markets in 2024. Major indices posted notable gains, with the S&P 500 achieving its second consecutive year of 20%+ performance for the first time since 1998. The market set a staggering 57 record highs during the year, though it ended slightly below its December peak.
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August 19, 2025
2025
Stocks staggered to the finish line in 2024, with December seeing negative returns in an otherwise strong year for equity market investors. December started off positively, in the midst of a month-long market ral- ly spurred by the re-election of the more business-friendly Donald Trump to the US Presidency. But stocks soon trailed off, possibly in a ‘reversion to the mean’ trade. The selloff also came as concerns grew about the potentially inflationary effects of Trump’s proposed trade and immigration policies, and more importantly, due to the Federal Reserve’s unexpectedly hawkish comments at their December meeting, in which they projected higher inflation and a possible slowing of interest rate cuts in 2025.
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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.
