Greg Leonberger, FSA, EA, MAAA, FCA
Director of Research, Managing Partner
It seems only fitting that I write this as snow is falling the day after it was a beautiful 80° and sunny; a harsh reminder that our Midwest summer is still a ways off. All in all, it was a mild winter by Chicago standards with only a few days of brutal cold and even fewer with measurable snow. Nonetheless, the freedom to comfortably wear shorts and soak up the sun last weekend was hopefully a preview of another glorious summer to come. But we’re not there yet.
The same could be said for capital markets. For anyone who read our market preview, the common narrative was “wait for the second half of the year” — which naturally coincides with summer in the northern hemisphere — please forgive me for taking advantage of the low-hanging parallel. Running with the analogy laid out above, though, the parallels are easy. If an investor hibernated during the first quarter and awoke to what markets delivered for returns, the results would be pleasing. Almost every major index across stocks and bonds was positive, with growth stocks roaring back. However, the temptation to focus exclusively on returns without regard for the environment would not only be irresponsible but a genesis for unhealthy expectations.
In this edition:
As winter takes hold in the northern hemisphere, there are those that choose to escape to warmer climates and those…
Hopefully not another year of coal In the spirit of holiday fun — and an effort to put 2022 investment returns…
Last week, we hosted our “Halftime” Market Insights Webinar. As the host, my job was to introduce…
Here in Chicago, it has been a harsh spring. Below-average temperatures. Unrelenting rain. Snow flurries. Incessant clouds. Not the spring…
Financial markets kick off 2022 against a backdrop of elevated inflation, a(nother) COVID surge, looming interest rate hikes, an undersupplied…
Though the leaves have only started to change color, holiday party planning is in full swing. And while ample food…
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