By Brendan Wagner, Portfolio Manager To begin, let’s start with some definitions: “Portfolio management is the art and science of selecting and overseeing a group of investments that meet the long-term financial objectives and risk tolerance of a client, a … Read More

By Brendan Wagner, Portfolio Manager The last four years may have felt like a roller coaster, but they also remind us that while average market returns may be in the high single digits, any 12-month period can look dramatically different … Read More

BY BRENDAN WAGNER, Portfolio Manager I was recently at Six Flags® with my six-year-old daughter.  She was over the moon excited to go on her first big rollercoaster.  We entered the park and headed for the Twisted Cyclone.  The ride … Read More

BY BRENDAN WAGNER, Portfolio Manager A day after Walmart’s weak earnings, Target’s results sent a shudder through the markets Wednesday 5/18, with the S&P500 off 4% and flirting with a bear market.  Inflation headwinds have been discussed for months, but … Read More

BY BRENDAN WAGNER, Portfolio Manager The Russia-Ukraine situation is of course top of mind for humanitarian reasons, but in this note we also explore other reasons for market moves in the first two+ months of 2022. Market expectations of aggressive … Read More

BY BRENDAN WAGNER, Portfolio Manager November was a big month for the equity markets, with the Dow Jones Industrial Average having its best month since 1987, up nearly 12%. On the morning of November 9th Pfizer announced impressive Covid19 vaccine … Read More

BY BRENDAN WAGNER, Portfolio Manager Well, it had been my intention to look into the crowding at the top of the S&P500, and whether there might be better opportunities among the “invisible” smaller weights.  Among the reasons, maybe the less-crowded … Read More

It was actually in Early January that the Coronavirus became a worry for the market.  It started out in December 2019 in the city of Wuhan, the capital of China’s Hubei province, and seemingly the big market worries were about … Read More

Can we capture international exposure with domestic equities, and if so should we? BY BRENDAN WAGNER, Portfolio Manager How much international exposure should a US investor have in an equity portfolio?  With 75% of global economic activity occurring outside the US, some investors consider it irresponsible NOT to … Read More

BY BRENDAN WAGNER, Portfolio Manager “When you learn how to play the game, they change the rules” – legendary investment strategist Ned Davis “Everybody has a plan until they get punched in the face” – legendary boxer Mike Tyson No … Read More