We hope everyone is staying healthy. As most of us will see some moderation to our shelter in place guidelines in the coming days and weeks, we expect our habits of staying safe will remain as essential as ever. Since much has transpired since our most...

It’s hard to know where to start. The suddenness of what’s transpired over the past six weeks revealed a vulnerability to our way of living previously only appreciated by those of the scientific community. Ten million people have filed for unemployment over the past two...

Discussion In the past week, we have seen unprecedented, disruptive events occurring at speeds that stretch anyone’s comprehension. As these developments unfold, the markets are extrapolating this new information each day into longer-term outcomes, each more dire than the last. When fear is driving this reaction,...

We don’t often field a lot of questions about bond safety, nor would we expect to under normal circumstances. Not surprising nor alarming, signs of stress have crept into the bond market over the past couple of weeks causing bond prices to pull back.  While...

The Meritage Growth Equity strategy emphasizes high quality stocks with above average Cash Flow Return on Invested Capital (CFROI). Relative to growth benchmarks, our process has led us to overweight the Information Technology and Healthcare sectors, and underweight Consumer Discretionary. The portfolio also has zero...

The focus of this note is to apprise you to the steps we are taking to assure the ongoing continuity of our business and provide for the health and safety of our associates and all we may come in contact with. In addition to the guidance...

It has been a while since market conditions have compelled us to send a short note like this between quarters. Our intent here, as we have done in the past, is to provide perspective on volatility and offer a few thoughts regarding expectations and how...

In the waning days of the 2019 legislative session, Congress passed a new law, The SECURE Act (Setting Every Community Up for Retirement Enhancement Act) that modifies rules on IRAs and employer retirement plans.  These provisions became effective January 1, 2020, as summarized below. Key changes...

2019 was a banner year for both stocks and bonds. In stark contrast to how the end of last year wrapped up, seemingly everything fell into place for stocks in the final quarter this year.  This lifted broad market returns to their best showing since...

Stocks advanced slightly in the third quarter, adding to their strong gains in the first half and closing just under the market highs of late July. Volatility remained high as headlines around China trade negotiations and prospective Fed policy moved stocks in both directions. Economic...