Quarterly Newsletters 2018

The Armbruster Capital Management News & Education section of our website incorporates articles and newsletter specifically geared towards issues that our clients are facing today.

Portfolio Review – Q4 2018 Newsletter

Stocks posted their worst returns since 2008 last year. Most of the damage occurred in the fourth quarter when stocks dropped 13.5%. This was the 12th worst quarterly performance since the Great Depression.

Should I Stay or Should I Go? – Q4 2018 Newsletter

The stock market declined by 4.4% in 2018. It was the first year stocks posted a loss since 2008. The S&P 500 rose 20% in 2017, 12% in 2016, and more than 13% annualized over the last decade. Yet, a one-year decline of 4% has caused all sorts of consternation. I admit that the peak-to-trough loss was much larger (17.5% so far), and the fourth quarter was one of the worst on record (down 13.5% in just three months).

Alternatives Out Of Focus – Q4 2018 Newsletter

They say all the world loves a clown. That may be true, but one thing I know that is even truer is that all the world currently hates alternative investments.

Flourish Cash Management – Q4 2018 Newsletter

Interestingly, cash was the best performing asset class in 2018, earning 1.8%. That’s a pretty meager return, but it was better than losing money in stocks or breaking even in bonds.

Portfolio Review – Q3 2018 Newsletter

The third quarter of 2018 was a mixed bag for investors. Stocks, at least domestic stocks, performed admirably. The S&P 500 rose 7.7% in the quarter and is now up 10.6% year-to-date. Small-cap stocks have performed even better so far this year, rising 14.5%.

Mid-term Elections and the Market – Q3 2018 Newsletter

The mid-term elections are right around the corner. That means that the phone is ringing with questions about how the elections could impact the stock market. Generally, we prefer to keep politics and investing separate, but we grudgingly accept that they can influence one another in the short run.

Firm News – Q3 2018 Newsletter

October 1st was our ten-year anniversary. It is true that Armbruster Capital was incorporated a little over nine years ago. However, Mark started working at our predecessor firm, and building what would become Armbruster Capital, a decade ago.

Eight More Years of Economic Expansion? – Q3 2018 Newsletter

Where is the US economy headed?
Recent news coverage about an inverted yield curve, potential trade wars, and troubles in emerging markets have created some unease.

Portfolio Review – Q2 2018 Newsletter

While it may come as a surprise, the second quarter of 2018 was actually quite strong for stock investors. The S&P 500 rose 3.4%, mid-cap stocks gained 4.3%, and small-cap stocks returned almost 9.0%. Even REITs rebounded in the quarter for a gain of 7.8%.

A Tale of Two Markets – Q2 2018 Newsletter

Certainly, we’re in a divided age currently where the glass could look half full or half empty depending on which side of the political aisle you sit. Unfortunately, that has been true for some time now. The same dynamic is also at play in the stock market.

Financial Exploitation of Specified Adults – Q2 2018 Newsletter

The SEC recently approved two new rules: (1) the adoption of new FINRA Rule 2165 (Financial Exploitation of Specified Adults) to permit members to place temporary holds on disbursements of funds or securities from the accounts of customers where there is a reasonable belief of financial exploitation of these customers; and

Portfolio Review – Q1 2018 Newsletter

Volatility has returned. While stock market returns were truly remarkable in 2017, the good times only continued into late January of this year. Since then, the market declined more than 8% from its peak into the end of the quarter. However, the downturn isn’t the real story.

Alternatives In Focus: Alternative Lending – Q1 2018 Newsletter

We started using the Stone Ridge Alternative Lending fund (LENDX) roughly a year and a half ago. It has returned around 6% annualized since we started investing, which is in-line with our long-term expectations for alternative investments.

Small Cap Value…Time to Shine? – Q1 2018 Newsletter

Small-cap value stocks have been uniquely poor performers recently. They posted strong returns in 2016, but otherwise, each of the past seven years small-cap value stocks have either significantly lagged or just barely beat large-cap growth stocks.