Chris Cercy Chris Cercy

Tariffs … On Again … Off Again …

Markets seem to be getting a little numb from the continuous flow of news regarding some tariffs being imposed and others being exempted. Starting on April 2nd, President Trump imposed “reciprocal” tariffs on all trading partners. The next day the S&P 500 cratered -4.83%.

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Chris Cercy Chris Cercy

The Forest for the Tree

April was a month of significant volatility for the stock market. The volatility index (VIX) surged to the 50s at the beginning of the month, (more than double its average level), before returning to the mid-20s at the end of the month…

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Chris Cercy Chris Cercy

Buy the Dips AND Sell the Rips?

March certainly did not disappoint. Right on cue, it delivered the much-anticipated correction we wrote about in last month’s newsletter.

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Chris Cercy Chris Cercy

A Wall of Worry

It is often said the stock market likes to climb a wall of worry, meaning once the bearish investors have been shaken out of the market, the remaining ones are bullish and will keep buying stocks, pushing prices higher…

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Chris Cercy Chris Cercy

Year-End Review and 2025 Market Outlook

At midnight on Tuesday, December 31st, the almost 12,000-pound crystal ball will descend in New York City’s Times Square to mark the end of 2024 and the arrival of the new year…

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Chris Cercy Chris Cercy

Post Election Market Analysis

The 2024 US elections are behind us and as usual, about one-third of the electorate is happy, one-third is unhappy, and one-third couldn’t care less…

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Chris Cercy Chris Cercy

Not so Spooky October

Despite October’s well-deserved reputation as the worst month of the year for stock markets, this October was pretty uneventful…

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Chris Cercy Chris Cercy

A Bit of Everything

Within the investment world, quiet and boring is actually a desirable environment…

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Chris Cercy Chris Cercy

Field of Dreams

Ever since humans first started transacting with each other, exchanging their goods necessitated an agreement over the “terms of trade”…

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Chris Cercy Chris Cercy

March Madness

The first quarter of 2024 was marked by equity markets moving higher on the backs of the seven largest companies…

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Chris Cercy Chris Cercy

Markets are Non-Linear

The end of the year is traditionally a good time to look back and reflect on important market developments…

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