The S&P 500 is down roughly 20%, the Nasdaq was down nearly 33%, and the average 60/40 portfolio is down about 17%.  As we’ve discussed many times over the year, it is very rare that both stocks and bonds perform so badly in the same year.  When you think back at 2020 and 2021, you...Read More

When we wrote to you last week, we mentioned an encouraging CPI report, but the market was waiting to see how Powell spoke the next day before showing any real rally.  As has been the status quo for the year, Powell spoke very hawkishly despite the enormous evidence that inflation has peaked and the economy...Read More