Client Testimonials – Joe Delaney
Testimonials provided by current clients of Robertson Stephens. Testimonials may not be representative of the experience of other customers and are no guarantee of future performance or success. “My wife, Joanna, and I were introduced to Joe Delaney in 2017 by a good friend of mine who has known Joe since college at Stanford and was using him for some […]
Trump’s Political “Tape Bombs” and the Santa Claus Rally
By John Lau December 2, 2024 – On Monday last week, after the close, President-elect Trump dropped a political “tape bomb” by threatening to levy 25% tariffs against Canada and Mexico and add an additional 10% tariff on China. The impact of the threat didn’t push the S&P 500 lower, but it did cause a […]
Investment Commentary – December 2, 2024
Summary U.S. Stocks ended a shortened trading session higher, while Treasury Yields declined across the curve. The S&P 500 climbed more than 1% for a second consecutive week. Meanwhile, the 10-year Treasury Yield fell to 4.17%. Optimism around Trump’s Treasury secretary pick has buoyed U.S. Stocks and Bonds while weakening the dollar, with expectations that […]
Economic Commentary – December 2, 2024
We enter this week into that slightly unreal month where the year seems mostly done, but the next year hasn’t started — an uncomfortable limbo papered over with parties and travel and shopping and general busyness. Apparently, enough of the travel and shopping occurred over Thanksgiving weekend to leave retailers breathing a sigh of relief, […]
Wealth Planning Commentary – December 2, 2024
Warren Buffett’s Charitable Lessons Warren Buffett recently made a significant donation of $1.15 billion in Berkshire Hathaway stock to charity. It’s an act that, while extraordinary, represents less than 1% of his $149 billion net worth. Most of Buffett’s wealth is tied up in Berkshire Hathaway stock, and he has consistently donated approximately 4% of […]
Economic Commentary – November 25, 2024
First of all, Happy Thanksgiving. This is a time to reflect upon all the opportunities and challenges that have come our way and to be thankful for our ability to work diligently on the path forward. It is not always easy because, among other things, the way is often not clear. Almost everyone at this […]
Investment Commentary – November 25, 2024
Equities The S&P 500 returned 1.7% for the week as the market shrugged off lackluster guidance from bellwether Nvidia and put their faith in the upcoming administration’s economic and deregulation agenda. The rally broadened beyond large-cap tech as the S&P Equal Weight index gained 2.6%, and small cap stocks rose 4.5%. Consumer staples (+3.1%) and […]
Wealth Planning Commentary – November 25, 2024
Year-End Income Tax Planning As the year draws to a close, now is an opportune time to review key strategies for optimizing your income tax situation. Consider the following points and review them before year-end with your Wealth Manager and, if needed, Accountant: Required Minimum Distributions (RMDs) Ensure that all Required Minimum Distributions (RMDs) have […]
Using A Microscope To See The Stars
November 21, 2024 Good morning, I believe the market is set up this morning to give us a clear snapshot into its current psychological state. If most readers of these Morning Notes are long-term investors, as opposed to traders, why should we care about a snapshot in time? We all believe that the key to […]
Quiet-ish Week
November 18, 2024 Good morning, The S&P 500 Index was off -2.08% last week. All those losses came after Fed Chair Powell’s comments Thursday afternoon: “The economy is not sending any signals that we need to be in a hurry to lower rates. The strength we are currently seeing in the economy gives us the […]
October 2024 Monthly Letter
The following is your October 2024 Robertson Stephens Monthly Performance Report. Given that it is already mid-November as I write this note and the likelihood (let’s hope so) that the event of the year just happened (and is still happening), reviewing the month of October is of little value. I will leave October with this; it was […]
Man Down
November 15, 2024 Good morning, Sorry for the miss yesterday morning, I’ll think twice before getting the flu shot and covid-booster at the same time (Wednesday). It was “Man Down” early Thursday morning. Now back to our regularly scheduled program. The equity market got a reason to exhale yesterday after almost 2 weeks of rallying. […]