Seeking Clarity Amid the Chaos

The stock market continues to hang in near all-time S&P highs, even as unemployment is still quite high, virus cases spike, politicians are unable to agree on a fiscal stimulus package despite the agreed upon need, and election uncertainties loom.  How can this be?

Q3 2020 Report to Investors Review and Outlook

Following a sharp rebound in the summer, labor market gains have slowed, but this is to
be expected following the initial surge. We should expect a gradual recovery to continue
as labor gets reallocated away from sectors likely to remain at lower ebb because of
COVID, while other sectors expand.

When Stock Picking Matters

Near-term risks are high and the economic data suggests some bumps in the road before we return to a solid, sustained expansion, but we are finding attractive opportunities by focusing on and thinking about where each company will be in the next 3 to 5 years.