2017 Second Quarter Report

2017 Second Quarter Report

The U.S. stock market has more than tripled in value during the run-up that started in March 2009, and the first half of 2017 was a continuation of this upward trend. As we closed out the second quarter, returns of U.S. large company stocks outgained their small company peers that were all the rage in 2016. Also, as reflected in the table below, international investments, both developed (EAFE) and emerging market economies, are finally delivering solid returns to our portfolios helped by a combination of improving economic growth and favorable currency movement.

2016 Fourth Quarter Report: A Year Full of Surprises

January 20, 2017 2016 Year End, President Trump

2016 Fourth Quarter Report: A Year Full of Surprises

Fear, uncertainty and relief . Financial markets experienced these stages with regularity in 2016. The year began with a sell off fueled by Chinese growth concerns and the prospect of a protracted bear market. However, markets bottomed in mid-February and began a long, slow recovery, turning positive by the end of March. In June markets were again shocked when the U.K. voted to leave the Eurozone, something considered a low probability scenario by many. Again, markets reacted with initial shock but recovered and advanced before pulling back as the Presidential election neared.