Quarterly Commentary

COVID-19 and Its Economic Repercussions As you might imagine, I often find myself working late these days (some of you can attest to this because …

2019 Year End Newsletter and Outlook Despite a trade war and recession fears, 2019 was a blowout year for risk taking. Long-term bonds and stocks …

The Implications of an Ultra-low Yield World This quarter’s newsletter addresses two issues; large cash balances in client accounts and the challenges investors face in …

The first half of 2019 was a drama involving the bond market anticipating a recession and the stock market assuming that the Fed would ride …

Investors are on edge. One good quarter does not a year’s performance make. I interpret the recent market volatility as evidence that we are in …

2018 placed MCS clients, measured as one large portfolio, in the top return categories among asset classes. This is no small feat. Until the fourth …