Posts by Matt Hargreaves
2024 3rd Quarter Investment Commentary
The S&P 500 gained 5.9% in the quarter and reached new all-time highs. Non-US markets saw a strong recovery, particularly in China. The Federal Reserve cut interest rates by 50 basis points in September to support economic growth, which boosted bond prices and led markets to anticipate further easing. The environment for equities remains favorable…
Read MoreStock Market Concentration
Investors in the S&P 500 Index who think they are getting exposure to a diversified basket of 500 companies are not. Money deployed into the S&P 500 is increasingly a wager on the health of just a few companies – with the fundamental of the other 490 carrying less weight. The outperformance of the largest…
Read MorePresidential Elections and the Market
From 1961 to 2023, a $10,000 initial investment in the S&P 500 would have grown to over $102,000 if invested only when a Republican was in the White House. Conversely, the same investment would have grown to more than $500,000 if invested only during Democratic presidencies. While this might suggest a strategy of investing under…
Read MoreCongratulations, Chelsie!
Congratulations to Chelsie Smith and her husband, Kelly, on the birth of their son, Wyatt Jaxon Smith! Wyatt was born on April 23, 2024, and is a happy baby boy!
Read More2024 2nd Quarter Investment Commentary
Stocks headed into the second half with impressive momentum. Historically, a strong first half tended toward above-average second-half returns. Market gains were heavily skewed towards the large-cap growth and technology companies. The S&P 500 became increasingly concentrated in, with just five companies accounting for 29% of the index. Economic growth moderated but remained resilient with…
Read More2024 1st Quarter Investment Commentary
The S&P 500 TR Index continued its strong momentum and reached new all-time highs. Momentum often creates momentum, which leaves us optimistic about stocks currently. However, a near-term pullback wouldn’t surprise us. The U.S. economy continued to grow due to a strong labor market, healthy consumer balance sheets, and robust services activity. Due to an…
Read MoreSpring Clean Your Documents
With Shred Day approaching and in the spirit of spring cleaning, we wanted to share some tips on organizing your files. Remember to dispose of your documents securely. Below is a summary of the key documents to keep and for how long: Income Tax Returns: Keep at least three years of state and federal tax…
Read More2023 4th Quarter Investment Commentary
Stocks ended the year on a nine-week winning streak, as the S&P 500 TR Index erased all the losses in 2022 reaching new all-time highs during the quarter. The year-end rally in stocks was one of the strongest ever and was based on the expectations of a Fed policy rate change and expectations of…
Read More2023 3rd Quarter Investment Commentary
After a strong first half, stocks, as measured by the S&P 500 TR, pulled back during a historically weak third quarter. Economic data continued to be stronger than expected and even showed signs of accelerating. This, amongst other factors, caused long term bond yields to increase significantly during the quarter. We ended the quarter…
Read MoreEmployee Spotlight: Chelsie Smith
This month we are featuring Chelsie Smith. Chelsie is a Certified Financial Planner (CFP®) and Advisor at Leonard Rickey. She has been with us for almost 5 years and works in our Yakima Office. What do you love most about your job? I love being able to put a client’s mind at ease when they…
Read More