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. […]
March 2026 Monthly Letter
Writing a monthly letter for March—now on April 7th, just hours from the latest Trump deadline, accompanied by the stark warning that “a whole civilization could die tonight”—feels almost beside the point. March, however, can be summarized succinctly: war with Iran. It began on the final day of February, and most market observers expected it to be […]
FORM ADV PART 2A BROCHURE
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 […]
FORM CRS
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, […]
A War Week With Central Banks and Nvidia in the Background – March 16, 2026
Good morning, Following a third consecutive down week for the major indices — the S&P 500 declined -1.60% last week — the weekend brought little clarity on how or when the war with Iran may end. Yet this morning, markets are behaving as if something constructive happened. Oil prices are lower and S&P 500 futures are […]
Two Weeks Into War — Why Markets Aren’t Panicking – March 13, 2026
Good morning, The war is approaching the two-week mark—already longer than many (particularly the bulls) expected. Over that period, the S&P 500 Index has declined -2.94%, and the market now sits -4.71% below its all-time high reached six weeks ago. By almost any historical measure of market anxiety, a ~3% decline two weeks into a war […]
War – Jobs Shock – Signals Still Lean Bullish – March 9, 2026
Good morning, Friday’s surprisingly weak employment report—and the stagflation implications that would leave policymakers in a policy straitjacket—produced the worst trading day of the week for equities (S&P 500 -1.33%). With the index finishing the week down -2.01%, there’s a fair argument that a possibly rogue jobs number had a greater market impact than the […]