CHIRP

Spring 2020 Quarterly Commentary

By now it is well telegraphed that COVID-19, a true black swan event, resulted in the fastest 30% sell-off ever, even exceeding the declines experienced during the Great Depression. Rather than just recap the quarter, we wanted to take this opportunity to update our clients on what our investment committee has been working on to address this decline by making sure our clients are well prepared for the inevitable recovery.

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Market Update – March 27, 2020

It All Starts With A Proper Strategy The U.S. markets have been extremely volatile these last few weeks, but one thing that has stayed constant is the media headlines that point out all the records that have been shattered. Here are a few examples from this week alone: “The blue-chip average surged more than 2,100…

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Market Update – March 20, 2020

It was only 30 days ago that markets were hitting all-time highs. On February 19th the S&P 500 posted a record close of 3386 and the U.S. equity markets were downplaying any real threat by the COVID-19 situation in China. However, that quickly changed, which led to the fastest market correction (decrease of 10% from recent all-time highs) anyone has witnessed. Now, as of Thursday’s close, the S&P 500 is down 28.5% and we find ourselves in the midst of a bear market (20%+ decrease from all-time highs).

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Market Update – March 13, 2020

The Corona Virus has undoubtedly caused unforeseen disruptions in our lives, and for those personally impacted by the virus, it has created tremendous angst. Our job as wealth managers though is to navigate how, if at all, this impacts our client’s long-term financial plans by relying on a time-tested and proven process to keep our clients on track.

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Market Update – March 06, 2020

By now most investors are aware that through Thursday’s market close, the S&P 500 is down 10.75% for the week, this puts the broad index in negative territory for 2020. Most of the selloff is blamed on the increased risk of the coronavirus; so far more than 80,000 people have been infected in about 40 countries and it has killed more than 2,700 people.

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Market Update – February 28, 2020

By now most investors are aware that through Thursday’s market close, the S&P 500 is down 10.75% for the week, this puts the broad index in negative territory for 2020. Most of the selloff is blamed on the increased risk of the coronavirus; so far more than 80,000 people have been infected in about 40 countries and it has killed more than 2,700 people.

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Market Update – February 14, 2020

Executive Summary

Year-to-date, the S&P 500 has returned mid-single digit returns, but now valuations are somewhat elevated
International market valuations are more attractive than U.S. valuations
Investors should focus on the broad international markets and in the U.S. invest in individual securities and not the major indexes

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Market Update – February 07, 2020

Executive Summary
• The U.S. economy continues to expand, and the fear of a recession has decreased
• U.S. GDP grew at 2.1% in the fourth quarter and 2.3% for 2019
• ISM Manufacturing and Non-Manufacturing Data also confirm the U.S. economy continues to show strength

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Winter 2020 Quarterly Commentary

2019 turned out to be an extremely positive year for equity markets across the world. At the beginning of the year, not many investors were optimistic regarding the prospect for equity markets, mainly because we had just come out of a bad fourth quarter in 2018 with the worst December on record. On the economic front, the data was mixed. The common belief was to expect a slowdown in the economy because the tailwind of the tax cuts were expected to fade. Neither of these consensus expectations came to fruition. In fact, the opposite happened with the S&P 500 when it closed 2019 with a gain of 28%.

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Market Update – January 24, 2020

Earnings Season for the fourth quarter 2019 has begun. We are analyzing the data of the broad market and the individual stocks held in our portfolios. This report will seal the 2019 earnings growth rate. The consensus is that the growth rate will equal that of 2018—in other words, no growth. Normally, we would want to see growth rates in the high single digits, but the markets have been patient with what is believed to be transitory headwinds, such as the U.S. and China trade dispute.

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