by Barbara C. Attardo, CFP®, AEP®, CDFA®
Market Update: Steady as She Goes?
“Steady as she goes” is a common nautical phrase used when maintaining current course. The command says nothing about a ship’s current surroundings; it can be issued in the calmest of seas or in the most brutal of storms. While the command means to maintain the status quo, it does not mean to drop guard and settle into careless complacency. Vigilance is always paramount while at the helm, as identifying hazardous developments is of the utmost importance. Foresight is equally crucial, as a prompt, and more importantly, proper response to any perilous changes could mean the difference between foundering and continuing forward.
This past June, Daintree employees participated in the J.P. Morgan Corporate Challenge, a series of races held in 13 cities across the world. Over 9,000 runners and walkers from 350+ companies participated in Boston’s race. This year the Corporate Challenge made a donation to The Every Child Fund at Boston Children’s Hospital. Our runners were proud to represent Daintree in this great community event.
by Darlene R. Dahl, CPA/PFS, AEP®, CDFA®
by Darlene R. Dahl, CPA/PFS, AEP®, CDFA®
Market Update: Hope and Fear Spring Eternal
Since the election, a tightly wound balance between investor hope and fear has driven markets. Market valuations are influenced by a combination of fundamentals and investor sentiment. When emotions overshoot fundamentals, that’s when opportunity, or risk, can emerge. The first quarter opened with post-election momentum continuing to propel US markets to new highs, but the pace tempered late in the quarter with the realization that implementing President Trump’s pro-growth agenda would face potentially significant obstacles. The release of less-robust-than-expected economic data compounded this slowdown. Nonetheless, positive investor sentiment, the so-called “soft data,” continued to buoy the market overall.
by Alex J. Gross, CPA/PFS, CFP®, MST
Market Update: Recalculating…
When heading to a destination, many turn to Google Maps or other GPS apps for turn-by-turn directions. You have advance notice of turns, left-hand exits, and even accidents or road construction. Should you miss a turn, they recalculate your journey without judgment. No such reliable guide exists for investors, as the future of markets is impossible to map. Prudent investing therefore becomes an exercise in “recalculating” without a map, and building portfolios must take this reality into account. Confounding expectations are a regular feature of the markets and the fourth quarter was no exception. Clearly, the most surprising event was the election of Donald Trump, defying most experts’ predictions. This surprise poses many implications going forward, but the biggest impact on markets to date has been the rapid rise in interest rates. The move actually began before the election, as the 10-year Treasury moved from 1.6% on September 30 to 1.9% on Election Day. To be sure, the subsequent move to 2.5% by year-end was more impressive as investors fully embraced an expected pick-up in growth and inflation (see chart below). This recognition coincided with the increased likelihood of a Fed rate hike, which happened in December.
Daintree Advisors is pleased to announce that Barbara Attardo, Lauren Desforge, Alex Gross, and Mary Shahian have been named recipients of the 2017 Five Star Wealth Manager award as featured in Boston Magazine. To receive the award, wealth managers must meet 10 objective criteria evaluated via surveys of Boston area households and financial services professionals, as well as independent research. Five Star Professional, which sponsors the nationwide award program, published its list in the February 2017 edition of Boston Magazine. Wealth Managers do not pay a fee to be considered or placed on the final list of the 2017 Five Star Wealth Managers. The Five Star award is not indicative of the wealth manager’s future performance.
For more information on the research and selection methodology go to www.fivestarprofessional.com.