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Bard Malovany

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Friday, September 13, 2019

MARKET RECAP August was a difficult month for the equity markets, with the S&P 500 down 2.66% and the MSCI EAFE index down 2.77%. It was an even worse month for riskier assets: small company stocks (Russell 2000 index) was down more...

 

Friday, August 9, 2019

MARKET RECAP The economy continues to show signs of both strength and weakness. The four week average for jobless claims fell to 211,500, which is near its lowest point in 50 years. In addition, continuing claims of 1.70 million for...

 

Sunday, July 7, 2019

MARKET RECAP The US economy is now in it’s longest expansion in history with data going back to 1854. It began it’s 11th year – or 121st month – on July 1, 2019 (Higley -By The Numbers 7/8/19). After a difficult...

 

Tuesday, June 11, 2019

MARKET RECAP Escalation of global trade wars, now on multiple fronts, drove US equities to their first negative month of 2019. The S&P 500 dropped 6.4% in May, though it remains positive for 2019 at +10.7%, The trade tensions have...

 

Tuesday, May 7, 2019

MARKET RECAP S. equities retained their first quarter upward momentum in April, largely supported by underlying economic data. First quarter GDP estimates of 3.2% growth were higher than expected and labor statistics suggest a robust...

 

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Monday, April 8, 2019

MARKET RECAP S. equity markets rose for the third consecutive month capping a remarkable quarter with the largest S&P 500 Index gain (13.7%) in 10 years. Investors showed optimism regarding the Fed’s pause in raising interest...

 

Thursday, March 7, 2019

MARKET RECAP US markets extended their early 2019 gains, helped by the end of the government shutdown, optimism surrounding trade talks with China, and the expectation of a pause in interest rates. The S&P 500 rose 3.2% in February,...

 

Friday, February 8, 2019

Dear investors in our Tactical Strategies: MARKET RECAP US equities gained ground in January to recover a substantial part of the sharp falls seen in December, with the S&P 500 gaining 7.9% for the month. Investors were encouraged by...

 

Tuesday, January 8, 2019

Dear investors in our Tactical Strategies - MARKET RECAP Equity markets experienced a broad sell-off in December, punctuated by volatile daily swings as investors showed fear over the Fed’s interest rate hikes, the lingering...

 

Monday, December 10, 2018

As the end of the year approaches, it is a good time to consider planning opportunities that will help lower your tax bill for this year and future ones. Year-end planning for 2018 takes place against the backdrop of a new tax law (the...

 

Friday, December 7, 2018

Dear investors in our Tactical Strategies - MARKET RECAP Geopolitical risks continued to reign and markets experienced a roller coaster ride in November with October’s slide continuing for the better part of the month before...

 

Tuesday, November 6, 2018

MARKET RECAP Volatility returned to global markets in October. The S&P 500 Index, which ended the month down 6.8% (trimming YTD gains to 3.0%), saw daily moves exceeding 1.0% up or down on ten occasions in the month – two more...

 

Monday, October 29, 2018

On recent market events: October has proven to be a rocky, volatile period for markets, with a broad correction sending the Dow Jones Industrial Average, S&P 500 index, and NASDAQ composite below their 200-day moving averages – a...

 

Tuesday, October 9, 2018

MARKET RECAP Domestic markets continued to test all-time highs in September, with the S&P 500 ending the month up 0.6%, posting its largest quarterly gain since 2013 and bringing year-to-date growth to 10.6%. Investors are tuning out...

 

Monday, September 10, 2018

MARKET RECAP US markets surged to new all-time highs in August, with the S&P 500 index climbing 3.3% and the NASDAQ Composite gaining 5.9% as stocks were bolstered by strong fundamentals. The estimated earnings growth rate for the S&P...

 

Sunday, August 19, 2018

Dear investors in our Tactical Strategies - MARKET RECAP Markets have largely continued to grow amid positive economic fundamentals in the face of a number of competing concerns, including interest rate movements, geopolitical tensions...

 

Sunday, July 8, 2018

July 2018 Tactical Strategies Report

 

Wednesday, June 20, 2018

June 2018 Tactical Strategies Report

 

Friday, May 4, 2018

2018 Market Perspective 2017 was an easy year to be an investor. The markets made the game look easy, and they conveniently hid most sins. USstocks had a very good year; international and emerging markets did even better. Our market...

 

Tuesday, January 2, 2018

Happy New Year! As 2017 draws to a close, I wanted to send out a final newsletter to both say "thank you" and to wish you all a happy, healthy, joyous and peaceful New Year. This time of year often spurs contemplation and reflection....

 

Friday, December 15, 2017

Charitable Giving Techniques Charitable giving is invariably on every year-end financial-planning to-do list--year in and year out. But a confluence of events playing out in 2017 makes donating to charity an even more beneficial...

 

Friday, November 24, 2017

It’s an odd commentary that when I stop to look back at the past year, I see a vibrancy of good fortune. In most respects the past year has felt grave. The financial markets to amateur and professional investors alike look...

 

Tuesday, April 25, 2017

Choosing investments isn't always easy/ Here's how one fund we use has added value. How to Win at Active Management: FPA Crescent Fund Mixing the AssetsFPA Crescent (FPACX) manager Steve Romick was in Morningstar's offices last week....

 

Sunday, April 23, 2017

Some thoughts on one element of inflation protection in investment portfolios 20 Years In, Have TIPS Delivered? TIPS have performed well as insurance against inflation, but they haven’t proven themselves as an investment vehicle....

 

Thursday, April 20, 2017

We're big fans of donor advised funds. Here's a balanced take on pros and cons. (subscription may be required) A philanthropic boom: “donor-advised funds” The rise of DAFs may be as much about tax as charity JEFF POWERS was...

 

Tuesday, April 11, 2017

In estate planning the personal is often overlooked for the technical. Some ideas to pass on what is most important. Leaving A Legacy of Wisdom For Your Kids And Grandkids

 

Tuesday, March 28, 2017

https://www.forbes.com/sites/financialfinesse/2017/03/19/12-reasons-to-contribute-to-a-roth-ira-by-april-18/#4b7ac4ca63f2 We’re about a month away from a certain day in April (now April 18) that’s known to most people only...

 

Friday, February 24, 2017

2016 provided investors with a wild ride. The US Stock market started the year off terribly, with the Dow Jones Industrial Average falling 1,000 in the first week of the year. As of January 20, the S&P 500 was down 10% (Morningstar)....

 

Wednesday, November 23, 2016

November 2016 For the past week and a half I have felt obligated to write another newsletter but have struggled to determine what to write. While I am reluctant to express political views, my expectation is that some might be concerned...

 

Monday, October 31, 2016

Some of you may be aware that the Presidential election is upon us. It’s been a quiet, understated affair so far. Or not. This election has been a blight on American democracy, and the most ignominious of my lifetime. It has left...

 

Tuesday, October 25, 2016

October 2016 Next month, Americans will head to the polls to elect the next president of the United States. While the outcome is unknown, one thing is for certain: There will be a steady stream of opinions from pundits and...

 

Tuesday, October 25, 2016

A relevant question for many investors is whether their view of economic growth should impact how they invest. Opinions about future economic growth often differ across market participants. For example, in a survey of more than 60...

 

Friday, October 21, 2016

This report features world capital market performance and a timeline of events for the past quarter. It begins with a global overview, then features the returns of stock and bond asset classes in the US and international markets. The...

 

Wednesday, July 27, 2016

Brexit? If you were away from news of media outlets for the past month, you could be forgiven for not knowing that the United Kingdom through a national referendum voted to exit the European Union. The media treated it as an event...

 

Tuesday, June 28, 2016

Brexit and Beyond As you are likely aware, this past Thursday Great Britain voted in a national referendum to leave the European Union after 43 years of membership. With a turnout of 75% of voters and an outcome that took pundits,...

 

Sunday, January 31, 2016

2015 was a tumultuous year in many respects. From an investment perspective, the US stock market (both the S&P 500 and the Dow Jones Industrial Average) saw its first 10%+ decline in more than four years as China’s currency...

 

Friday, October 2, 2015

Swings in the Market As I noted in my last newsletter, the end of August and beginning of September saw some fissures begin to develop in what had previously been feeling like a monolithic equity market. While hardly a "major market...

 

Monday, August 24, 2015

Last week the markets saw a significant bloodletting. The S&P 500 fell 5.63%. The NASDAQ fell 7.16%. Small company stocks (as measured by the Russell 2000) were down a mere 4.19%. It wasn't any better overseas, with China and Hong...