Commentary and Research Papers
August 19, 2025
2024
Stocks posted their second consecutive month of robust gains, as a powerful two month rally off of the late October lows pushed the quarterly and annual returns solidly into positive territory. The reason for December’s rally was similar to that for the previous month’s rally: another favorable inflation reading that led observers to see disinflation in the data, with the Fed following up with increasingly dovish comments.
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August 19, 2025
2024
After nearly a decade of underperformance, is the tide finally shifting in favor of small cap stocks? For a host of reasons (primarily, rising interest rates and exogenous economic concerns), investors have been hesitant to scale down the market cap ladder, leaving many high-quality small cap stocks under-owned and undervalued.
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August 19, 2025
2023
A soft landing - once thought to only be achieved by Mr. Clause himself as he arrives on rooftops around the world – has potentially been attained by The Fed after a two-year tightening cycle. On Wednesday, the Federal Reserve announced optimism about a soft landing, known as the long-awaited “Fed-Pivot” – projecting short-term rate cuts and a gradual return of inflation to its 2.0% goal without a recession. Despite maintaining current interest rates and tightening pace, the Fed revised its short-term interest rate projections significantly downward.
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August 19, 2025
2023
Stocks rebounded in November, posting robust returns across the board after three consecutive weak months. November was not only the best month for the market since July 2022, but it was the second-best November since 1980. The main driver of such strong gains during the month was a meaningful decline in yields.
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August 19, 2025
2023
To help you plan for the upcoming season, we are excited to share with you our 2024 Key Tax Facts sheet. This two-page sheet provides a snapshot on all of the latest tax updates to help you begin your tax planning process.
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August 19, 2025
2023
It was another difficult month for stocks in October, with unsettling developments on the macroeconomic, political and geopolitical front taking a toll on investor sentiment. In early October, the world was shocked by events in the Middle East, namely Hamas’ brutal attack on Israeli citizens. The subsequent furious response by Israel’s military led to fears of a wider war involving other Arab countries, with negative implications for oil prices and overall global economic growth. This conflict comes on top of already-existing tensions with China and the continued destructive implications from the Russia-Ukraine war.
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