When we look at yesterday’s market performance, something stands out. It’s not just the magnitude of the decline, bad though it was, but the speed. And it wasn’t just yesterday, as this past month has seen pretty much all of the decline for the past quarter and well over half of the decline for the year. In other words, the market has essentially been down all year. It started to stabilize in March and April—only to collapse again in May. That’s scary.
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A Quick Look at the Markets
This will be a short post as I am back from a Commonwealth conference and catching up. There are lots of things to think about, on both a professional and personal level, and I will share more going forward. As always, it was great to see my Commonwealth friends, old and new, and do some really cool stuff including a cooking class (didn’t see that coming, did you?) and a Red Sox game with Tim Wakefield, who very nicely signed a hat for my wife. She did very well out of the conference, with the hat and a signed pastry cookbook. You have to take care of the home front.
Challenging Our Assumptions
Today, I’m attending the Commonwealth Chairman’s Retreat conference. Of course, we’ll spend some time discussing business and the markets, but we’ll also get the chance to look at issues beyond that and into our own lives. Longtime readers may remember my column on gratitudes, where I talked about a Chairman’s presentation by psychologist Shawn Achor on how simply writing down three gratitudes a day could change your life for the better. I tried it, and it worked. I have now written down my gratitudes every day for several years, and there is no doubt it has made a very positive difference.
Monday Update: Inflation Slowed in April
All eyes were on last week’s release of the consumer and producer inflation reports for April. They showed that inflationary pressure moderated during the month following a surge in March, but there is still a lot of work to be done to get rising prices under control. This will be a busy week of economic updates, with reports scheduled that will cover retail sales, industrial production, and the housing sector.
What Can Investors Do in a Down Market?
Much of the discussion around the market decline so far this year has been, first, why is it happening and, second, how far will it go? Most people are looking at the market as an independent entity, trying to second-guess how it will act in the future. Most people will, inevitably, be wrong.
Monthly Market Risk Update: May 2022
My colleague Sam Millette, manager, fixed income on Commonwealth’s Investment Management and Research team, has helped me put together this month’s Market Risk Update. Thanks for the assist, Sam!
Markets dropped in April, reversing the gains from March. The S&P 500 lost 8.72 percent during the month, while the Dow Jones Industrial Average (DJIA) dropped 4.82 percent. The Nasdaq Composite saw the largest decline during the month, as the technology-heavy index fell 13.24 percent in April. The sell-off in April is a reminder that risks remain, and they should be monitored going forward.
Olivia has joined Riverstone Wealth Partners providing knowledge gained from her 15 plus years in management. Olivia has provided services within the financial industry, mortgage industry, and in the non-profit sector. Olivia thrives on providing stellar customer service, accomplishing all goals set before her, and doing the right thing. Olivia’s degree in Business Management allowed her to take on roles that ultimately led her to Riverstone Wealth Partners. Olivia is currently pursuing another degree with an emphasizes in Human Resources, which she has learned over time… is her passion!
Ashley has been working in the customer service field since she started her first job at age 16. For the past ten years she worked in an office setting handling accounts payable and receivable as well as some receptionist work. She is very excited to learn more about the investment field.
Alec joined Riverstone after starting out his post college career on the operations side of an international logistics company working as an account executive. Graduating with a BA in Economics from the University of Illinois at Urbana-Champaign, he quickly developed a strong interest in the financial world. A lifetime resident of the Chicagoland area, Alec is an avid fan of his hometown sports teams. He is also an enthusiast of outdoor activities like fishing, camping, and hiking whenever possible.
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