Zooming Out on 2019

Zooming Out on 2019

What Your Quarterly Statements Don’t Tell You 

“The stock market does not care about quarterly statements, so we believe that providing context is part of our job. Looking back to where the market has been, beyond the current year, allows us to see more of that important context.”  

Read on for a zoomed-out perspective of stock market performance this year.

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Whipsaws, Whiplash, and Algos

Whipsaws, Whiplash, and Algos

After living through the worst quarter (Q4 2018) since 2011, we just experienced the best start to a year since 2012, with the S&P 500 Index up +13.5% and international equities up +10.3% in Q1 2019. As recently as December 2018, the S&P 500 Index was down -20.2% (peak-to-trough, 9/20/19- 12/24/19), and the threat of moving into a global recession loomed large.  In other words, the first quarter was almost a mirror image of the fourth quarter.

What triggered equities to drop to bear market levels then to abruptly – and I mean abruptly! – reverse?

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