Has Santa Claus Left Town?

Has Santa Claus Left Town? The Santa Claus rally lasted just about to the end of December, and then began to fall apart with the start of the new year. It often feels like market trends don’t have the longevity they used to have, but in reality, the effect we see is simply a ‘reversion […]
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Happy New Year!

Wishing All a Healthy and Prosperous New Year! As we enter 2024, many investment professionals have issued forecasts for what will happen in 2024. Frankly, we pay little attention to them. At PWM, we remain focused on maintaining and improving our core, diversified portfolio for our clients, adhering to our well-researched, long-term asset allocation, and […]
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It Was a New Day Yesterday

It Was a New Day Yesterday… But it’s an old day now (with apologies to Jethro Tull). Financial markets are dominated by cycles. In 2023, the Magnificent 7 dominated the stock market. Those seven stocks had a terrific year, while the other 493 stocks in the S&P 500 collectively struggled to keep their heads above […]
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Pre-emptive Pivot

Pre-emptive Pivot The news this week was the Fed (again) with the surprise change of anticipating rate cuts. Nick Timiraos, the so called ‘Fed Whisperer’ at the Wall Street Journal wrote about Chair Powell’s comments: “Dec 1: ‘It would be premature to … speculate on when policy might ease.’ Dec 13: Rate cuts are something […]
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And the Winner Is…

And the Winner Is… I read an interesting article on Morningstar that compares Cisco and NVIDIA, asking if Cisco’s fall from grace will be repeated by NVIDIA. The simple answer is – Yes, of course it will. The difficult question is when that will happen. Back at the peak of the internet bubble, as we transitioned […]
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