Cryptonite?

Cryptonite? As of Jan 11, we now have several spot Bitcoin ETFs, making ownership of Bitcoin crypto currency as simple as buying a stock. As that day approached, the thought was that when this easy avenue for investment opened up, Bitcoin would jump in price as both institutional and retail investors piled in. On that […]
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Forecasters Agree to Disagree

Forecasters Agree to Disagree In this age of big data, it’s not uncommon to see an analysis like this made-up example: After a positive year for the S&P 500, if January the following year is also up, that year is also positive 74% of the time with an average return of 9.3%. Assuming that scenario […]
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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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