Robertson Stephens Named Amongst USA Today’s Best Financial Advisory Firms for Third Consecutive Year
Robertson Stephens Ranked 16th out of 500 Firms SAN FRANCISCO, April 24, 2025—Robertson Stephens Wealth Management, LLC (“Robertson Stephens”), a national boutique wealth management firm that manages more than $7 billion in client assets, has been named as one of USA Today’s Best Financial Advisory Firms in 2025. This is the third year in a row Robertson […]
Tax Loss Harvesting: Making Lemonade from the Market’s Lemons
In a market as volatile as the one we’re experiencing now, it’s easy to focus on the short-term discomfort of fluctuating portfolio values. But volatility isn’t just something to endure—it also presents strategic opportunities. Tax loss harvesting is one of the most effective tools we use in these environments. At its core, this strategy allows […]
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, […]
Quarterly Letter: Behold, a Nation Dwelling Alone
April 11, 2025 – For much of the past decade, the Fed played a central role in the US economy. From innovative programs such as Quantitative Easing (QE) that emerged in the wake of ’08, through the Covid response, and culminating in the interest rate hikes of 2022, investors saw the Fed as a dominant […]
Investment Commentary – April 7, 2025
Executive Summary Corporates and consumers have become more conservative recently based on recent data, which has yet to reflect the full impact of the recent Tariff Tax Turmoil. The good news is that we have a largely domestic, services-oriented economy, and while tariffs are disruptive in the short-term, the impact can be contained if the […]
Economic Commentary – April 7, 2025
The odds that the US economy will fall into a recession in 2025 have increased. Some forecasters now put the probability at 60%-70%, which would seem to establish a recession as the base case forecast; I do not understand how it cannot. Yet few forecasters are saying that they expect a recession this year — yet. […]
March Recap: The Market Navigates Economic and Policy Uncertainty
Monthly Market Summary Stocks fell in the first quarter after two consecutive years of gains exceeding +20%. The year started off strong, with the S&P 500 reaching a new all-time high in mid-February. However, sentiment shifted late in February amid rising policy uncertainty in Washington, and the S&P 500 ended the quarter down. There are […]
Market Recap: April 3, 2025
Watch Chief Economist Jeanette Garretty and Chief Investment Officer Stuart Katz discuss the recent tariffs announcement and its impact on markets.
March 2025 Recap
Economy Yesterday, Trump’s “Liberation Day” Press conference confirmed investors’ worst fears of an impending global trade war. Goldman Sachs estimates that the ‘reciprocal’ tariffs announced by the White House, coupled with other tariffs already announced year-to-date, would raise the US effective tariff rate by 18.8%. While it’s possible that the negotiations with trading partners will lead […]
Investment Office Quick Thoughts: April 3, 2025
We finally received the details on the scope of the Trump Administration Tariffs, and it’s beyond market consensus. Risk markets currently do not like the announcement, with stock futures currently down and the NASDAQ leading markets lower. Copper and oil are also falling in post-market trading, suggesting concerns about dimmer growth prospects. The Asia open seems more muted than the headlines would potentially justify.
Economic Commentary – March 31, 2025
This wake-up is a bit more than usual, an old-fashioned jangly alarm clock disrupting a fitful sleep. Significant tariffs will be imposed by the US this week on a wide variety of products and trading partners. At the same time, previously imposed trade actions (especially steel and aluminum tariffs), federal employment reductions, and federal health […]