Category Archives: Markets

Market Recap

Posted on May 10, 2019 by Gemmer Asset

  Trump’s Tweets Torpedoes Trade   For the market the only news item of importance concerned trade and Trump’s tweets on the matter. Hopes for an imminent end to the trade war with China were dashed on Sunday night when the President threated to hike tariffs on $200bn of Chinese goods and begin proceedings to tax the remaining $325bn of imports not currently subject to tariffs.   Global equites sold off on the news and…
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Market Recap

Posted on May 3, 2019 by Gemmer Asset

  Sugar Sugar….   Think back to music in 1969. Hits included Honky Tonk Woman by The Stones, Suspicious Minds by Elvis, Proud Mary by CCR, Get Back by the Beatles. Some classic tunes that have stood the test of time. And then you have this.   Sugar, ah honey honey You are my candy girl And you got me wanting you   The Archies, 1969  (https://www.youtube.com/watch?v=TSP0e5rXUl8)   This was #1 in the U.S. for…
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Market Recap

Posted on April 26, 2019 by Gemmer Asset

Earnings – Is This the Trough?   You can probably tell by the headlines that we are in the middle of earnings season. Intel whiffed big time and the stock was hit with a 2X4 on Friday. Tesla was entertaining this week as usual. But in general, these high-profile shortfalls have been the exception – results are coming in better than expected.   In the U.S. about a third of companies have reported so far…
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Market Recap

Posted on April 12, 2019 by Gemmer Asset

The market closed on a solid note Friday. J.P. Morgan kicked off earnings season and handily beat estimates. Wells Fargo’s earnings were in-line but revenue growth was better than expected. Overnight, Chinese credit growth grew more than originally thought, leading some to think the worst of the slowdown is over in China. Finally, Chevron’s bid for Anadarko Petroleum brought back memories of the M&A days. For the week the developed global indexes gained fractions while…
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Market Recap

Posted on March 29, 2019 by Gemmer Asset

The first quarter ended on a solid note with most equity markets bouncing back from last week’s selling. For the week the S&P picked up +1.2% to bring the first quarter return to +13.1%. The returns for global equities are +0.6% and +11.8% respectively. Not bad considering. As it turns out, this was the 9th best start to the year since 1928, as you can see below.     Bond yields dipped modestly again this…
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A Better Investment Experience (Part 2)

Posted on March 28, 2019 by Gemmer Asset

In part 1 of “A Better Investment Experience”, we discussed the importance of embracing market pricing and avoiding chasing performance. In part 2 of this series, we’ll focus on managing the emotions of investing and the characteristics of a sound investment plan.   Managing the Emotions of Investing   Emotions play a major role in our investment (and life) related decision making. A downside of these emotions is that they often cause us to think…
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Market Recap

Posted on March 25, 2019 by Gemmer Asset

It was an eventful week for the markets given the Fed announcement on Wednesday and then a key move in interest rates Friday. The Fed really didn’t surprise. As expected they kept rates stable and signaled they probably won’t do much all of this year (more below). Probably more eventful was the push lower in longer-term interest rates around the world. Equities around the world were weaker with the S&P losing -0.8% over the last…
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A Better Investment Experience (Part 1)

Posted on March 8, 2019 by Gemmer Asset

In this business we’re constantly telling clients to focus on the long-term.  We say things like:   “Don’t pay attention to the day-to-day volatility.”   “Focus on whether or not your investment plan meets your specific goals.”   “Invest energy into the things you can actually control.”   These are all good pieces of advice but sometimes we need a bit more substance to help us keep the faith.  In other words, what specific things…
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Market Recap

Posted on March 1, 2019 by Gemmer Asset

  2018 Closes on a Strong Note…   Last week we laid out all the signs of slower growth in the United States, but we made the point that despite this the odds of recession were still relatively low. Along the same lines, this week we found out that economic growth in the fourth quarter was actually pretty robust.   Real GDP rose by +2.6% in the fourth quarter, well above expectations of +2.2%. While…
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Market Recap

Posted on February 22, 2019 by Gemmer Asset

  Another decent week for the global equity markets with gains across the board. The S&P 500 picked up +0.6% while small-caps added +1.1%. EM was strong with a +2.3% gain. Equities have rallied despite slowing global growth, in part due to a more dovish central bank backdrop, and in part due to hopes about a trade deal. Certainly, the change in central bank attitudes has helped push bond yields lower. The yield on the…
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