Market Commentary: July 2023
It’s hard to believe that I took over as Chief Investment Officer two years ago. I am glad we have had calm markets to let me get my sea legs under me. But in all seriousness, thank you for allowing me to work with each of you. I reread my market commentary from two years ago and think it still applies today. We have a market that is full of bulls and bears, both for valid reasons, and there is uncertainty of the future at present. In these cases, a balanced approach is appropriate and is why we have been at our target allocations since October of 2022. While we have been less exposed to big tech than our benchmarks this year, we continue to think a more diversified portfolio is best.
I would like to take this time to promote something we started doing in June. I have started writing a short message I am calling the Macro Minute. It is a weekly short read on something I either saw or have been thinking about. It will most of the time come out of the reading or research that I do. I try and have visuals accompanying my thoughts and keep it short. I want these to be something that can be read in a minute or two. I have enjoyed writing them so far and hope you enjoy reading them. If you are not already signed up and would like to receive, please click here.
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