At FAM Corp., we provide clients with regular commentary on the markets, current economic conditions and how they affect our clients' portfolios. Here are some of our most recent reports:

Quarterly Investment Review & Outlook 
3rd Quarter 2019 - The latest three month returns in the U.S. and international stock markets can be viewed with two very different attitudes. The first is that many indices (though not all) produced a loss for the quarter, and where there were gains, they tended to be very small. On the other hand, the losses, where they occurred, were too small to wipe out the gains of the previous two quarters, meaning that most investors have still made money so far this year.

Quarterly Investment Review & Outlook 
2nd Quarter 2019 - If we could simply stop the year at this point, the gains would be unusually high for a typical 12-month period; for six months, they are extraordinary. Perhaps we should celebrate cautiously. How to make sense out of the recent market behavior? We experienced a painful decline in the last month of 2018 before the markets took a sharp (and unexpected) about-face and delivered the biggest one-quarter gain since the third quarter of 2009. The surprise upward trend has continued through the second quarter, albeit with more modest gains, despite what would normally be considered warning signs in the economy, the global trade markets and corporate earnings.

Quarterly Investment Review & Outlook 
1st Quarter 2019 - The long, painful market decline in the last month of 2018 seemed to promise more of the same for the new year of 2019, but at the end of the first quarter, the results couldn't have been more different. The U.S. market, measured by a variety of indices, posted its biggest one-quarter gain since the third quarter of 2009. This proves once again (as has been proven many, many times over) that you cannot extrapolate market returns from one month to the next, or expect that down or up trends will lead to more of the same.

Quarterly Investment Review & Outlook 
4th Quarter 2018 - After logging strong returns in 2017, global equity markets delivered negative returns in US dollar terms in 2018. Common news stories in 2018 included reports on global economic growth, corporate earnings, record low unemployment in the US, the implementation of Brexit, US trade wars with China and other countries, and a flattening US Treasury yield curve.

Quarterly Investment Review & Outlook 
3rd Quarter 2018 - If you believe that the trend is your friend, then perhaps the U.S. stock market is in for an excellent fourth quarter. U.S. equity markets suffered small losses in the first quarter, followed by decent single-digit gains in the second quarter.

Quarterly Investment Review & Outlook 
2nd Quarter 2018 - The U.S. equity markets suffered a small setback in the first quarter, but the second quarter brought us back into positive territory. The widely-quoted S&P 500 Index of large company stocks gained 2.93% in value during the year’s second quarter, rallying to a 1.67% gain so far in 2018.

Quarterly Investment Review & Outlook 
1st Quarter 2018 - Is the bull market finally over? For the first time in nine calendar quarters, the U.S. investment markets delivered a negative overall return. It was only a slight decline, but the decline reminds us that markets can and do go down from time to time.

Quarterly Investment Review & Outlook 
4th Quarter 2017 - At the beginning of 2017, a common view among money managers and analysts was that the financial markets would not repeat their strong returns from 2016. Many cited the uncertain global economy, political turmoil in the US, implementation of Brexit, conflicts in the Middle East, North Korea’s weapons buildup, and other factors. The global equity markets defied their predications, with major equity indices in the US, developed ex-US, and emerging markets posting strong returns for the year.

Quarterly Investment Review & Outlook 
3rd Quarter 2017 -  The last few years of a bull market are always a bit of a mystery to professional investors; the market rises faster than it did in the early, cautious years when nobody believed there WAS a bull market, even though there appear to be fewer fundamental or economic reasons for it.

Quarterly Investment Review & Outlook 
2nd Quarter 2017 -  The U.S. stock market has more than tripled in value during the run‐up that started in March  2009, and the most recent quarter somehow managed to accelerate the upward trend.

Quarterly Investment Review & Outlook 
1st Quarter 2017 - Are we in the late stages of a bull market—that time when the market suddenly takes off like a rocket for no apparent reason? 

Quarterly Investment Review & Outlook 
4th Quarter 2016 - You know you’re deep into a longstanding bull market when you see things like average pedestrians keeping one eye on the market tickers outside of brokerage houses to see when the Dow Jones Industrial Average has finally breached the 20,000 mark.

Quarterly Investment Review & Outlook 
3rd Quarter 2016 -100 days after the Brexit scare and three quarters of a year after the most recent Fed rate hike, the markets once again confounded the instincts of nervous investors and went up instead of down.

Quarterly Investment Review & Outlook 
2nd Quarter 2016 - It certainly feels like we’re in a bear market, what with the surprising “Brexit” vote in the UK, the dismal first few days of the year and increased volatility across the board.

Quarterly Investment Review & Outlook
1st Quarter 2016 - The first quarter of the New Year has brought us small positive returns in many of the U.S. market indices, which means that investors survived—for now, at least—the worst start to a calendar year ever for the U.S. stock market.

Quarterly Investment Review & Outlook
4th Quarter 2015 - In the year just past, we experienced many things—a prelude to a Presidential election, a renewal of terrorist concerns, a trip to Pluto—but in the investment markets, we will look back and yawn.

Quarterly Investment Review & Outlook 
3rd Quarter 2015 - 
Many investors will be glad to finally see the end of the third quarter of 2015, and most of them will feel like their portfolios are worse off than they actually are.

Quarterly Investment Review & Outlook 
2nd Quarter 2015 - 
For all the drama we've experienced in the past few months, the second quarter of the year has brought us slightly positive returns in many of the U.S and global indices, and disturbing but ultimately not harmful news in Europe, China and Puerto Rico.

Quarterly Investment Review & Outlook​
1st Quarter 2015 - The first quarter of the new year has brought us small positive returns in many of the U.S. and global indices, and more than the usual amount of anxiety along with them.

Quarterly Investment Review & Outlook
4th Quarter 2014 - Looking back on 2014, people are going to say it was a great year to be an investor. They won’t remember how uncertain the journey felt right up to the last day of a year that saw the S&P 500 close at a record level on 53 different days.

Quarterly Investment Review & Outlook
3rd Quarter 2014 - You could say that the markets took a breather in the third quarter of 2014, but you would come to that conclusion only if you looked at the overall returns and ignored the drama of the past 30 days.

Quarterly Investment Review & Outlook
2nd Quarter 2014 - It's hard to describe single-digit first half returns as a raging bull market, but it's also hard to feel too negative about a six month period when the S&P 500 recorded 22 record highs and virtually everything – including bonds – rose in value.

Quarterly Investment Review & Outlook
1st Quarter 2014 - The U.S. stock market reported very modest gains in the first quarter of the year, and it was actually uncertain until the final trading day whether the quarterly returns would be slightly positive or negative. In the end, the Wilshire 5000 index--the broadest measure of U.S. stocks and bonds--rose 2.04% in the first three months of the year.

Quarterly Investment Review & Outlook
4th Quarter 2013 - The U.S. stock market punctuated an extraordinary year with gains on the last trading day, moving many of the American indexes to record highs on the final trading day for only the sixth tim e in history.

Quarterly Investment Review & Outlook
3rd Quarter 2013 - The third quarter ended with the threat of a government shutdown virtually guaranteed that the investment markets would close out the third quarter with a whimper rather than a bang.

Quarterly Investment Review & Outlook
2nd Quarter 2013 - It appears that the smooth sailing of the first quarter ended and volatility has returned to the investment markets. The widely-quoted S&P 500 index of large company stocks gained 2.36% for the quarter and is up 12.63% since January 1.

Quarterly Investment Review & Outlook
1st Quarter 2013 - In the first quarter of 2013, the U.S. equity markets continued the rally from last year. What the 2nd Quarter brings us is unknown, but we do expect a pullback from the current record levels.