Oarsman Outlook: October 2021

After a spectacular fifteen-month rally, financial-market returns for the third calendar quarter were decidedly lackluster.  A September dip of 5% left large-company U.S. stocks roughly flat on the quarter; small-cap stocks fell 3% to 4%, while real-estate equities...

Oarsman Outlook: July 2021

All major investment categories recorded solidly positive results during the second calendar quarter.  Domestic equity benchmarks gained between 5% and 9%, with large-company stocks outperforming small-caps.  Non-U.S. markets rose 4% to 6%, with developed markets...

Oarsman Outlook: April 2021

As investors anticipated the strongest economy in a half-century, the January-March period saw a re-acceleration of the year-old financial-market rally.  Domestic equity benchmarks jumped between 6% and 13%, with small-company stocks leading by a wide margin. ...

Oarsman Outlook: December 2020

The final three months of 2020 capped a tumultuous year for global financial markets, as nearly all investment categories posted strong results for a third-straight quarter.  In the U.S., large-company stocks advanced more than 10%, while small-caps surged to gains...

Oarsman Outlook: October 2020

The July-September quarter saw continued strong results from nearly all categories of financial investments.  Large-company U.S. stocks advanced between 7% and 9%; small-caps lagged with a gain of around 3%.  Outside the U.S., developed-market returns averaged about...

Oarsman Outlook: July 2020

The first half of 2020 will be remembered as one of the most remarkable investment periods in history.  Following gut-wrenching plunges of 35% or more in a matter of weeks beginning in late February, nearly all asset categories staged equally astonishing recoveries...