Quarterly Market Commentary - 2022 Q1

On March 11, 2020, the World Health Organization, officially declared a global pandemic. Two years hence, we are moving from a pandemic to an endemic. Endemic means that the infection has reached a...


Quarterly Market Commentary – 2021 Q4

Last quarter, we anticipated the birth of a new variant that requires yet to be developed vaccines to protect against.  Unfortunately, the new mutated variant, Omicron, has proven to be...


Quarterly Market Commentary - 2021 Q3

The COVID-19 Delta variant has slowed the economic recovery, but we are glad to see the rates of infection, hospitalization and death have waned. Unless there is another wave or a new unknown strain...


Quarterly Market Commentary - 2021 Q2

Executive Summary Resurgence of Covid cases and the anti-vaxers could dampen economic activities and thus diminish demand driven inflation pressure. The U.S. economy has likely passed...


Quarterly Market Commentary - 2021 Q1

Executive Summary The three known COVID-19 variants are contributing to a third or fourth wave of infection, hospitalization, and death around the world. All three strains have arrived in the U.S....


Quarterly Market Commentary - 2020 Q4

The recent experiences from 9/11, 2008 and 2020 should clearly remind us all that the future is unknowable.  Regardless of how smart, thoughtful and experienced one may be, predicting the future is...


Quarterly Market Commentary - 2020 Q3

We had a V-shaped bounce after a sudden and steep fall, but the V-shaped bounce has not yet returned the U.S. or global economy back to pre-COVID-19 “normal” economic activities. We are also...


Quarterly Market Commentary - 2020 Q2

The Un-Normal Many refer to the current conditions as the “new” normal.  I think of this as the “un”-normal. There is nothing normal about what is transpiring.  We have a novel...


Quarterly Market Commentary - 2020 Q1

The cacophony of impact, fallout, responses, and scale of the COVID-19 coronavirus on a human level and on the economy is shocking.  The speed of change, on a sometimes hourly basis, is impossible to...


Quarterly Market Commentary - 2019 Q4

·       From an aggregated lens, the U.S. and the world have recovered from the Global Financial Crisis (GFC). The global labor economy is at its best in a generation; private wealth or net...