May 12, 2023

May 05, 2023

April 28, 2023

April 21, 2023

April 14, 2023

April 07, 2023

March 31, 2023

March 24, 2023

March 03, 2023

How Your Money Is Protected

July 29, 2022

July 15, 2022

Fall 2022 Update

Our long-term outlook continues to be cautiously positive. It does feel that we are in the minority with our thinking these days, but there are more signs showing up that make us feel more comfortable with our view. We started this year focused on four themes poised to upset the rosy outlook felt by economic participants in the second part of 2021. These themes are still playing out, so let’s check on where we stand with each one of them.

February/March 2021 Update

Spring is on the way. After sixteen brutal days of consistent below-freezing temperature in February, high thirties in Buffalo feel like it is time to get out and celebrate by cleaning our yards and garages. Vaccine production and delivery are ramping up, and with J&J vaccine approved its starting to look like most of us should be able to be vaccinated by the end of June. I can tell from our conversations that many of you already have plans for this summer, and that all of us are ready to get out there and start appreciating, even more, what life has to offer.

With 2020 in the Rear View

There is no doubt that 2020 will be remembered and studied by historians, economists, anthropologists, and other scientists for many years to come. Some years become the markers for the big shifts in human history and it is highly possible that the last year will be one of those. I suspect many stories told in the future will start with “The Corona pandemic of 2020 caused…”.

November Monthly Update

Even though this is 2020, with all its issues, we still have a lot to be thankful for. Thanksgiving like we’ve never had before was on last Thursday and with that, the Holiday season 2020 has started. in both directions. Work-from-home, online shopping, and remote learning continue to grow and expand their reach towards becoming our new normal.

October Monthly Update

The stock market continued its zig-zag in large point-numbers during the third quarter. Technology sector was the primary driver of market movement in both directions. Work-from-home, online shopping, and remote learning continue to grow and expand their reach towards becoming our new normal.

September Monthly Update

With summer 2020 behind us, we will remember it as the summer where we reconnected with our families and nature, leaving the big events and crowds for some time, later in the future. I hope you and your family are all doing well and have found a way to enjoy life under the Covid social distancing rules.

June Monthly Update

This week, Western New York entered phase 3 reopening. It will feel good to see restaurants and store fronts with “open” signs on them and people getting back to the streets, while hopefully respecting the social distancing rules in place to keep us all safe.

With 2019 in the Rear View

It has been a year of an interesting sentimental journey for investors. Mood swings in financial markets were a clear representation of it.

With 2018 in the Rear View

I used to think that a change of the year is just a calendar term. The thing we divide and measure time with based on the physical movement of our tiny planet in the indefinite space.

With 2017 in the Rear View 

I started my last year’s letter with “What a year…” amazed with the differences in three market regimes that 2016 was divided into. Now I am saying “What a year!” because the market regime in 2017 could not have been more even and steady. The returns were remarkable.