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Quarterly Client Update Q1 2024

Where were you for the solar eclipse on April 8th? It is estimated that more than 90% of Airbnbs were sold out in the path of totality, which stretched from Texas to Maine. Mike and Eric stayed in the area and answered phone calls and emails about income taxes while looking out the window. 😊 It is amazing how science allows us to know that the next total solar eclipse in the United States will be on August 23, 2044. Start making reservations now. 

While the next eclipse can be predicted with certainty, financial markets are much more difficult. Recent predictions have been made based on persistent inflation, reduced expectations for interest rate cuts, rising oil prices, geopolitical uncertainty, and on and on. Yet the strong market performance continues. The US market was up 10.02% in Q1, bringing the 12-month return to 29.29%1, better than most people expected. 

It can be tempting to use timely economic information to reposition investment portfolios to benefit from the “obvious” market changes that are coming. While the path of totality can be guaranteed on August 23, 2044, we cannot predict with any certainty what this month's inflation report will mean for financial markets in two weeks, let alone two months or two years. The cost of trying to time the market and being wrong is similar to viewing the eclipse without the funny glasses.  

The strong market returns over the past few months give us the opportunity to trim gains and adjust portfolios back to their targets. We are not trying to look around the corner to figure out what is coming next, but rather continually updating your financial plans and making sure portfolios stay balanced. 

Please do not hesitate to call or email with any questions.

1Russell 3000

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss.