Week 7: Markets Hold Firm, But Patience Is Thinning – April 13, 2026
Good morning, Entering the 7th week of the war, there was no constructive news over the weekend—hardly a surprise. What may be more surprising is where markets sit at this stage. Through Friday’s close, the S&P 500, Nasdaq, Russell 2000, EAFE, and Emerging Markets are just -2.65%, -4.65%, -3.82%, -5.53%, and -5.63% below their respective […]
If A Bottom Is In – The Market Isn’t Confirming It – April 10, 2026
Good morning, If you locked yourself in a windowless room—cut off from headlines, geopolitics, and narrative—and focused only on what markets have done year-to-date, your interpretation might look something like this: Following new highs at the end of January, markets entered a period of profit-taking, led primarily by large-cap growth and technology. That pullback accelerated […]
March 2026 Monthly Markets Update
Q1 2026 Commentary Key Updates on the Economy & Markets The first quarter was eventful for markets. Stocks traded higher to start the year, with the S&P 500 posting a modest gain in January. However, the market traded lower in March due to escalating geopolitical tensions in the Middle East and the Strait of Hormuz […]
Week 6: Markets Volatile, But Not Broken – April 6, 2026
Good morning, As we enter the sixth week of war, markets have now delivered four consecutive down weeks followed by last week’s rebound. The overall picture, however, remains largely unchanged. Volatility is elevated, with markets reacting more to the daily flow of oil through the Strait of Hormuz—which has been gradually improving—and to energy prices, rather than to shifting political rhetoric or repeatedly […]
March 2026 Recap
The Economic Outlook: Structural Stability vs. External Friction The U.S. economy currently shows a sturdy structural foundation, supported by a favorable trend in jobless claims and an absence of broad-based layoffs. This is not a classic demand-collapse story, but rather a period of recalibration driven by external variables. The primary factor is the Strait of […]
Small Cap Performance
Below are the calendar year and annualized returns for our small cap composite portfolio. Ending 3/31/2026 3 Month 6 Month YTD 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year Average Annualized Since Inception* Small Cap – Gross +6.40% +4.53% +6.40% +98.97% +38.93% +31.56% +18.87% +19.70% +35.16% +25.06% Small Cap – Net […]
Small Cap Q1 2026 Commentary
Positive Returns in an Uncertain World We had a strong start to the year despite ongoing geopolitical tensions and rapid developments in artificial intelligence. Our small cap strategy continues to serve its intended role, providing both diversification and attractive long-term returns. During the quarter, large-cap technology stocks struggled, pulling major indexes into negative territory. While […]
War, Credit Worries and AI Anxiety Weigh on Stocks
By John Lau, CPA, CFP® April 1, 2026 – The first quarter of 2026 started off with a bumpier ride than many investors expected. Markets were pulled in different directions by a mix of global events, concerns in parts of the financial system, and some growing questions around how artificial intelligence could impact certain industries. […]
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Robertson Stephens Wealth Management, LLC 455 Market Street Suite 1450 San Francisco, CA 94105-2442 (415) 500-6810 www.rscapital.com March 31, 2026 This brochure provides information about the qualifications and business practices of Robertson Stephens Wealth Management, LLC. If you have any questions about the contents of this brochure, contact us at 415-500-6835. The information in this […]
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Robertson Stephens Wealth Management, LLC Client Relationship Summary, March 31, 2026 Robertson Stephens Wealth Management, LLC is registered with the Securities and Exchange Commission as an investment adviser and, as such, we provide advisory services rather than brokerage services. Brokerage and investment advisory services and fees differ and it is important for you, our client, […]
Same Pattern, New Week: Markets Attempt Another Bounce – March 30, 2026
Good morning, Equity markets have now declined for five consecutive weeks. Notably, each of those weeks has followed a similar pattern—Friday weakness followed by a Monday rebound—and this morning is no exception. S&P futures are higher by approximately 0.80% (8:30am ET), despite little reaction to President Trump’s comments regarding “serious discussions” with a potentially more pragmatic regime […]
The Market’s Clock Is Ticking on the Strait – March 27, 2026
Good morning, I had a refreshing one-week break—thank you. The market, however, did not follow suit. The S&P 500 has now declined for four consecutive weeks and is on track for its worst month in the past year. The central question remains unchanged: when does the Strait of Hormuz reopen? If and when it does, […]