Quarterly Insights | April 2022

Inflation, Geopolitics and Rising Rates Weigh on Markets in the First Quarter After a historically calm 2021, volatility returned in the first quarter of 2022. Inflation surged to 40-year highs, the Federal Reserve promised to raise interest rates faster than previously thought, and Russia surprised the world with a full-scale military invasion of Ukraine, marking the first major military conflict…

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Market Update | March 30, 2022

I’d like to provide some color and context around the emerging topic of recession. Before we begin to dive too deeply, I think it’s worthwhile to compare the declines in the stock market this year relative to other historically large sell-offs in non-recessionary periods. As you can observe in this chart from JP Morgan, the low we’ve seen thus far…

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Market Update | February 25, 2022

While there is plenty to discuss in the equity markets, I’d be remiss to not first acknowledge the suffering and tragedy that the people in Ukraine are experiencing. Here is to hope and prayer, that the devastation and loss of life is mitigated as much as possible. It’s been slightly more than 24 hours since the Russian Invasion of Ukraine…

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Krilogy Financial

February Market Perspective

Good afternoon, with minimal financial market volatility in 2021, it’s evident the pendulum has swung in the opposite direction here in early 2022. I’d like to zoom out and paint the picture as to why things aren’t as bad as perhaps perceived and to help explain some possible causes of this market turbulence. This first chart is a view of…

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Quarterly Insights | January 2022

Earnings, Economic Growth and Vaccines Push Stocks to New Records in 2021 Stocks overcame numerous headwinds during the past three months, including a resurgence in COVID cases, the Federal Reserve moving aggressively to end the current QE program, and a lack of additional stimulus from Washington, to hit new all-time highs in the fourth quarter and produce very strong returns…

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What Do Above Average and High Inflationary Periods Mean for Equities?

Good afternoon, instead of contemplating how persistent and enduring inflationary pressures in the economy are or aren’t, I thought I’d provide some perspective on what above average and high inflationary periods have meant for equities historically.  Separate from the inflation conversation and what it could mean for equities, I think it’s important to level-set expectations for expected returns in traditional…

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Is Today’s Stock Market Expensive?

Many of our clients ask if the stock market is too expensive today. By many measures as shown on the following chart, courtesy of Charles Schwab and The Leuthold Group, it would appear to be the case at first glance. Valuation metrics such as Price to book value, Price to cash flow, Schiller’s CAPE ratio, and current and forward PE…

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Krilogy Financial

Investment Committee Report | October 2021

Strong Corporate Earnings and a Resilient Recovery Power Stocks to New Highs The S&P 500 hit new all-time highs again in the third quarter as investors looked past a resurgence of COVID-19 cases in the U.S. and instead focused on the positive combination of a resilient economic recovery, ongoing historic support from the Federal Reserve, and strong corporate earnings. Market…

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Krilogy Financial

Investment Committee Report | July 2021

Stocks Hit New Highs as the Pandemic Recedes Last quarter, we discussed the strong start to 2021 as the market experienced solid gains. The second quarter continued that trend, with the S&P 500 rising to another record high. Throughout the quarter, COVID-19 cases substantially declined in the U.S. This, combined with a near-total economic reopening across the country, led a…

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Krilogy Investment Report April 2021

Investment Committee Report | April 2021

Market Resiliency Leads to Solid Market Gains in Q1 We’ve often said that we believe in resiliency of the U.S., our economy, and the markets. The first quarter of 2021 was a shining example of why we hold this belief. Throughout the quarter, we witnessed several macro- and micro-economic surprises that resulted in increased market volatility compared to the fourth…

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