Strategas Event With Dan Clifton – September 2017

Watch Coldstream Wealth Management’s moderated discussion with Dan Clifton, director of legislative and public policy research at Strategas Research Partners in Washington, D.C. In this discussion, Mr. Clifton provides his analysis of how current legislation and policy impacts our economy.

2012 is off to a Great Start – Market Commentary

End of 2011 and beginning of 20122012 is off to a great start.  As my colleague James pointed out in last quarter’s Guardian, the fourth quarter of 2011 was an end to a volatile year in the financial market.  Although there were no significant year-over-year gains for equity markets in calendar 2011, the fourth quarter strength in common stocks set the stage for a more bullish tone into 2012.READ MORE

Financial Crisis – Act 2, Scene Europe

The markets are no longer “pausing”. Like an audience at a bad play they are running for the exits!  The third quarter of 2011 proved to be the worst quarter for global financial markets since Q4 of 2008.  The U.S. stock market, as measured by the S&P 500 index was down 13.9% for the quarter.  Economically sensitive sectors such as energy, materials, industrials and financials were all down more than 20% for the quarter. The traditionally more volatile indexes of the NASDAQ and Russell 2000 small cap were down 12.7% and 21.9% respectively.  International markets were even weaker with International Developed indexes down 18.9% for the quarter and emerging markets were down 22.5%.  With five straight down months for stocks, markets have given back their gains for the year.  See the table below for the index returns for the quarter and year to date.READ MORE

Some market commentary and update

In our Commentary letter about the volatility and worries in the market sent on June 15th we stated: “…we are mindful of controlling risk and protecting capital. If the S&P were to break below 1230, which is 10% off the April highs, we will need to review our position.” Yesterday stock markets all over the world experienced their worst drop since 2008 and the S&P 500 was down 4.8% and broke below the 1230 support level we had referred to in our June 15th email. Based on this we began reducing risk in some client portfolios by selectively selling some equity positions. We have also identified additional investments in client portfolios that we think might be at risk should market conditions continue to deteriorate and we deem it is prudent to further reduce risk.READ MORE

“Fear and Greed” in the markets – commentary

We all know the market at times is driven by “fear and greed.” For the past month, the focus has been on fear. Indeed, there are numerous macro problems. We have a government deficit issue to solve, a European debt crisis highlighted by the Greek situation, volatile currency markets, fear of a pick-up in inflation and a slowdown in the economy, regulatory uncertainty, and the list goes on and on.READ MORE

Are Interest Rates Poised to Rise?

The current accommodative monetary and fiscal policy, along with the Federal Reserve’s quantitative easing that has kept long term interest rates at artificially low levels, has underpinned the nascent economic recovery.  The recovery that has been built on this wave of liquidity is still fragile, and a significant change in economic inputs, either positive or negative could have a significant impact on the pace and slope of the recovery.  READ MORE

2011…More of the Same? We hope so!

The fourth quarter of 2010 provided for another great performance by the global financial markets.  The U.S. stock market, as measured by the S&P 500 index was up 10% over the third quarter of 2010.  Even more spectacular were 11% gains for the NASDAQ index and over 16% for the Russell 2000 Small Cap.

2010 was not without volatility with two meaningful 10+% pullbacks in April and again mid-summer.  That being said, overall the S&P 500 gave us full year 2010 positive returns of over 15%, the Russell 2000 Small Cap rose 26.85%, and the NASDAQ index gained 19%.  International markets also fared well while the U.S. stock market began to show leadership on a relative basis.  This is great progress given the underlying economic news remains positive but weak in some areas and investor confidence and anxiety remained high throughout most of the year.  As we commented last quarter, the fourth quarter of the year is a statistically significant positive time for equities and this was the case once again!  So, where does this leave us going into 2011?READ MORE

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