April 2026 Commentary: Houston, Do We Have a Problem?
Summary Despite continued geopolitical uncertainty, U.S. large-cap stocks, as proxied by the S&P 500 Index, rose 11% in April, making it the fourth-best month since
1Q 2026 Commentary: Dire Straits
Summary Geopolitical conflict, as well as concerns about the impacts of AI, shaped market returns in the first quarter. U.S. large-cap stocks ended the quarter
February 2026 Commentary: Rotation Meets Escalation
Summary U.S. large-cap stocks declined by 0.8% in February while U.S. small-cap stocks gained 0.8%. U.S. intermediate-term bonds fared well, rising 1.6%. Headline inflation eased
January 2026 Commentary: A is for Affordability
Summary U.S. large-cap stocks gained 1.5% in the first month of 2026 while U.S. small-cap stocks rose by 5.4%. U.S. intermediate-term bonds were flat, rising
4Q 2025 Commentary: The “K” Divide
Summary Markets ended 2025 on a strong note, with not one major asset class ending the year in the red. U.S. large-cap stocks ended the
November 2025 Commentary: Paint-by-Numbers
Summary The government shutdown left markets and the Federal Reserve navigating an incomplete economic picture. Although the government has reopened, many reports remain delayed, and
Our Thinking
Stock-Based Compensation
How does your stock-based compensation impact your plan?
Stock-based compensation in the form of Restricted Stock Units (RSUs) can be a very valuable form of supplemental income. However, this unique form of compensation
Stock-Based Compensation: A Four-Part Series
Stock-based compensation in the form of restricted stock units (“RSUs”) can be a wonderful form of bonus compensation. However, the risk characteristics associated with an
Market Commentary
April 2026 Commentary: Houston, Do We Have a Problem?
Summary Despite continued geopolitical uncertainty, U.S. large-cap stocks, as proxied by the S&P 500 Index, rose 11% in April, making it the fourth-best month since
1Q 2026 Commentary: Dire Straits
Summary Geopolitical conflict, as well as concerns about the impacts of AI, shaped market returns in the first quarter. U.S. large-cap stocks ended the quarter
February 2026 Commentary: Rotation Meets Escalation
Summary U.S. large-cap stocks declined by 0.8% in February while U.S. small-cap stocks gained 0.8%. U.S. intermediate-term bonds fared well, rising 1.6%. Headline inflation eased
January 2026 Commentary: A is for Affordability
Summary U.S. large-cap stocks gained 1.5% in the first month of 2026 while U.S. small-cap stocks rose by 5.4%. U.S. intermediate-term bonds were flat, rising
4Q 2025 Commentary: The “K” Divide
Summary Markets ended 2025 on a strong note, with not one major asset class ending the year in the red. U.S. large-cap stocks ended the
November 2025 Commentary: Paint-by-Numbers
Summary The government shutdown left markets and the Federal Reserve navigating an incomplete economic picture. Although the government has reopened, many reports remain delayed, and