Newsletter May 2026

Overview The fragile ceasefire in the conflict opposing the USA and Iran in the early part of April has caused equity markets to jump powerfully since. The S&P 500 gained 10.49% in April. The Nasdaq 100 jumped 15.31%, while the Russell 2000 (small-cap index) rose...

Newsletter April 2026

Overview The Middle East war started by Israel and the US against the Iranian regime, at the end of February, upended markets in March. The S&P 500 lost 4.98%. The Nasdaq 100 slumped 4.68% while the Russell 2000 (small cap index) declined 5.00%. Internationally,...

Newsletter March 2026

Overview US equity markets generally declined in February. The S&P 500 lost .76%. The Nasdaq 100 slumped 3.33% while the Russell 2000 (small-cap index) progressed .80%. Internationally, the EPAC BM Index of developed economies (ex-US) rose a robust 5.90%. The MSCI...

Newsletter February 2026

Overview US equity markets rose in January but in an uneven fashion. The S&P 500 added 1.45%. The Nasdaq 100 gained .95% while the Russell 2000 (small-cap index) progressed a whopping 5.35%. Internationally, the EPAC BM Index of developed economies (ex-US) rose a...

Newsletter January 2026

Overview US equity markets marked time in December. The S&P 500 added .06%. The Nasdaq 100 lost .47%. The Russell 2000 (small cap index) was down .58%. Internationally, the EPAC BM Index of developed economies (ex-US) rose a robust 3.22%. The MSCI EM (emerging...