On an annual basis our Investment Committee meets to develop a firm view of the financial markets, to express that view in our investment strategies, and to articulate it in our annual Market Perspective. We did so again in the first quarter of this year and, with a little delay due to technology and compliance, posted it to our website here:

We would encourage you to read it for several reasons. Based on a variety of research, we feel it provides some insight into the dynamics driving the markets – surrounding both valuation and speculation. As usual, it relies heavily on charts, which makes it a fairly quick read and reasonably digestible. Unlike in previous years, we have used it to describe the methodology we use for constructing our various portfolio models. As an investor, you may be interested to understand how we incorporate our views of the financial markets in your portfolio.

We are acutely aware that our view that the US stock market is not new, and we are starting to sound naïve or overly enamored of our historic thinking. Perhaps we have been wrong – and continue to be. With that said, however, as we show in the Market Commentary, that view is now more widely accepted.  

Footnotes and Disclosures:

Securities offered by Registered Representative through Private Client Services, Member FINRA/SIPC. Advisory products and services offered by Investment Advisory Representatives through Almanack Investment Partners, LLC, a SEC Registered Investment Advisor. Aspect Partners, Private Client Services and Almanack Investment Partners, LLC are unaffiliated entities.

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