Volatility Does Mean-Revert – April 15, 2025
Good morning, A short note this morning. Equity price action yesterday felt almost composed after the opening gap higher. The Magnificent 7 pricing faded quite a bit, but price movement was modest compared to what we’ve seen over the previous week and a half. The VIX (the uncertainty index) is down by half from its […]
Economic Commentary – April 14, 2025
It is hard to believe that not quite two weeks have passed since the world seemed to change on a dime on April 2. Much like an 8.0 magnitude earthquake, to which the Trump tariff announcements bear a considerable resemblance, a series of aftershocks continues to rattle consumers, businesses, and markets. However, unlike an earthquake, all […]
Investment Commentary – April 14, 2025
Executive Summary A few themes jumped out to us last week including softer inflation readings and encouraging bank earnings season reports and guidance. The parts of the consumer price index (CPI) report that had the softest pricing were more discretionary items like airfare and lodging away from home. Shelter came in at only 0.2% m/m, […]
Tax Loss Harvesting, 529 Plans, and Risk Tolerance During Market Volatility
Volatile Times: Tax Loss Harvesting, 529 Plans, and Risk Tolerance Many investors have sold positions over the past few weeks to lock in capital losses. It’s important to distinguish capital losses from charitable deductions, as the two operate differently from an income tax perspective. Tax loss harvesting allows losses to be carried forward indefinitely until […]