2020 Third Quarter Report & Outlook
My comments are focused on the next three months. I’ve provided links to articles that expand on my views. There is a lot of near-term uncertainty a
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My comments are focused on the next three months. I’ve provided links to articles that expand on my views. There is a lot of near-term uncertainty a
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The investment strategy I am currently pursuing on your behalf is based on two questions:
What is the probable financial outcome given both Americaâ€
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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
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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 p
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The Implications of an Ultra-low Yield World
This quarter’s newsletter addresses two issues; large cash balances in client accounts and the chall
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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 to the res
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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 the
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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 qu
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The third quarter ended strong for US stocks and weak for bonds. As October ends, stocks have given back this year’s gains. Investors are getting a
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The markets treaded water in the first half. Trade war rhetoric, a deceleration in non-US global economic growth and fears of a yield curve inversion1
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Warning Shot: Stocks, Bonds, Inflation, and Interest Rates
The first quarter of 2018 offered some validation of my number one concern (expressed in
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Year End Results
If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 4.28% in 2017, a
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Sequence of Return Risk
This quarter’s update introduces the concept of Sequence of Return Risk and how this under-appreciated risk especially re
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If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 2.68% so far this year (through
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If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 1.67% after fees through March 3
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If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 3.47%1 after fees this year thro
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If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 4.71% after fees this year throu
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If MCS clients' investments were treated as one large portfolio including their cash, on average clients gained 3.67% after fees through June 30, 20
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This exhibit compares today's environment with the Dot-Com Stock and Real-Estate booms. Due to formatting constraints, it must be viewed as a PDF.
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If MCS clients’ investments were treated as one large portfolio including their cash, on average clients gained 1.44% after fees. The range of i
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If MCS clients’ investments were treated as one large portfolio including their cash, clients gained 1.64% after fees. The range of individual cli
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Despite the 3rd quarter turmoil, MCS client portfolios remained stable.
If MCS clients’ investments were treated as one large portfolio including
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I am playing with the format of this report to hopefully make it more accessible. MCS clients’ interest in financial markets varies considerably
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If MCS clients were one large portfolio including their cash, the first quarter 2015 return was 1.35%. Individual client returns ranged between -.
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If MCS clients were one large portfolio including their cash, the 2014 return was 8.99%. Individual client returns ranged between 14.71% and 3.72%
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If MCS clients were one large portfolio, the year-to-date return through September 30th was 6.42%. Individual client returns ranged between 3.09%
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If MCS clients were one large portfolio, the year-to-date return through June 30th was 5.5%. Individual client returns ranged between 1.7% and 9.8
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For calendar year 2013, aggregate MCS client assets gained 4.5%. Returns on client portfolios invested for the entire year ranged from -1.8% to 8.
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Year to date through September 30 2013, aggregate MCS client assets gained 2.41%.
Stocks represented by the S&P 500 index turned in a very st
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Below is a link to Schwab's Inherited IRA Guide. This guide is provided to the benefiicaries of an IRA upon the death of the IRA owner.
Schwab's
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One way to gauge the impact of interest rates on bond prices is to calculate the duration* of a bond or bond portfolio. Duration is expressed in years
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MCS was recently identified as a “top performer” and “innovator” in the InvestmentNews 2013 Adviser Technology Study. Our firm was selected fr
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Individual client returns ranged from 2.9% to 12.2% for the year. These asset value increases compare with 16% for the S&P 500 (stock index) and
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If MCS clients’ assets were one big portfolio, 2012 investment performance was up 6.4%. Individual client returns ranged from 2.9% to 12.2% for th
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After stunning first quarter returns (up 12%), stocks1 lost 3.3% in the second quarter, yet they remained up 8.3% for the year (through June 30). By
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During the quarter, MCS cautiously expanded its stock buying, depending on client circumstances. The move into stocks had been planned for months an
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See and read Michael's comments on KMTR regarding Bank Transfer Day. http://www.kmtr.com/news/local/story/Bank-Transfer-Day-what-is-it-and-what-are-t
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If MCS clients’ assets were one big portfolio, performance year to date was up 5.5% through September 30.
Individual client returns ranged from 2
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