Quarterly Commentary

Autumn 2018 Review & Outlook Webinar

October 11, 2018

If it is late cycle and risks are rising, why are domestic markets doing so well? Thursday, October 11th, 2018 1:15pm Pacific Time Prepared comments 20 minutes, Q&A to follow   If you missed our webinar, you may click here… Read More

Q3 2018 Quarterly Review & Outlook

October 9, 2018

Getting information off the internet is like taking a drink from a firehose—Mitchell Kapor The goal is to turn data into information, and information into insight —Carly Fiorina It is a capital mistake to theorize before one has data.  Insensibly,… Read More

Q2 2018 Quarterly Review & Outlook

July 10, 2018

The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts. — Bertrand Russell (1872-1970)   Following an enthusiastic rally in January, stock markets have had trouble… Read More

Q1 2018 Quarterly Review & Outlook

April 10, 2018

As we learned after President Herbert Hoover signed the Smoot-Hawley tariff at the outset of the Great Depression, vibrant international trade is a key component to economic recovery; hindering trade is a recipe for disaster. — Gov. Asa Hutchinson (R)… Read More

Q4 2017 Quarterly Review & Outlook

January 12, 2018

Predicting rain doesn’t count.  Building arks does. — Warren Buffett   As we look back on the year that just ended, we are struck by the very solid gains posted by equity markets.  Admittedly, our investment committee expected double digit… Read More