From the desk of…

Bear Market Internals

While each of the domestic indexes have clearly entered bear market territory, the average stock has experienced a far greater decline.

What’s Next?

Remember when Fed Chairman Powell promised to kill inflation a month ago? Inflation is as prominent as ever.

Bear Market Becomes Official

The stock market “officially” became a bear market this week, defined as a 20% decline in the S&P 500 Index.

Consumer Confidence and Microcap Stock Performance

As the old adage says, a picture is worth a thousand words. The chart below shows how strong microcap performance can be in times following extremes in consumer sentiment.

Interest Rate Hikes and Micro-Cap Stock Performance

Over the past 12 to 18 months, the Fed has explained that the inflation we have been experiencing is short-term and transitory.




The Russell 2000 Index consists of the smallest 2,000 companies in a group of 3,000 U.S. companies in the Russell 3000 Index, as ranked by market capitalization. The S&P 500 Index is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large-cap universe. It is not possible to invest directly in an index. R-Squared is a statistical measure that represents the percentage of a fund’s or security’s movements that are explained by movements in a benchmark index.

Earnings growth is not representative of the fund’s future performance.









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