Ever since the stock market bottomed in 2009 during the financial crisis, people have been coming up with reasons why the bull market was about to end. We heard every reason – Brexit, the end of Quantitative Easing, too much debt, COVID, etc. – and while we understood...
Interest rates have risen steadily over the past six months but remain low by historical standards. That means the traditional high-quality bonds that many of us owned for decades are not doing the job for investors looking for income, while the potential for interest...
We have raised our year-end S&P 500 Index fair value target range to 4,050–4,100 from 3,850–3,900 due to our increasingly optimistic expectations for US economic growth and corporate profits. Prospects for additional fiscal stimulus, recent progress in reducing...
The resilience of the US economy continues to exceed our expectations. With encouraging progress toward ending the pandemic, and massive fiscal stimulus in place—and more likely coming soon, our prior economic growth forecasts may prove overly conservative. In...
Dear Valued Investor, “In the short-term, the market is a popularity contest. In the long-term, the market is a weighing machine.” Warren Buffett 2021 is under way, as our nation and the rest of the world look to begin to put the global pandemic behind us. The path...
