Navigating Today's Volatile Markets

 

2018

  • Sextant Mutual Funds Quarterly Commentary Q2 2018

    Following a volatile first quarter, US equity markets steadily recovered until a ratcheting up of trade rhetoric and tit-for-tat tariffs in mid-June undermined confidence and shaved a few points off US returns.  Other markets, the developing economies in particular, suffered greater damage...

     
  • Sextant Mutual Funds Quarterly Commentary Q1 2018

    Through the first few weeks of 2018 the good times continued to roll as the S&P 500 Index appreciated over 6%.  At the end of January and into early February, however, investors were reminded that the stock market does not move in a linear fashion as the S&P 500 slumped...

     

2017

  • Sextant Funds Quarterly Commentary Q4 2017

    2017 was a remarkable year for equity markets around the world but not entirely in the way we normally think of a “Great Year for Stocks." While the percentage gains were significant, they were not unprecedented. As recently as 2013, the S&P 500 Index (SPX) returned...

     
  • Q3 2017 Sextant Cover Image

    Equity indices around the world continued their remarkably steady march higher over the third quarter, despite the war of words that erupted between Donald Trump and North Korean leader Kim Jong-un; an exchange that caused serious people to discuss the risk of miscalculation...

     
  • Sextant Mutual Funds Quarterly Commentary Q2 2017

    While markets continued to advance in the second quarter, the pace slowed appreciably from the first; unsurprising considering that signature initiatives of the Trump administration – replacing the Affordable Care Act, tax reform, and infrastructure development – have failed to launch.

     
  • Sextant Mutual Funds Quarterly Commentary Q1 2017

    Major US market indices wrapped up the first quarter with gains that could be considered respectable for an entire year.  The appreciation was remarkable considering the context in which it was accomplished.  The three-month period featured the inauguration of a new president who quickly embarked on a series of rookie mistakes...

     

2016

  • Sextant Mutual Funds Quarterly Commentary Q4 2016

    What a year! The S&P 500 market kicked off 2016 with a brutal sell-off, dropping nearly 11% in the first six weeks, before staging an unprecedented rally that recovered all the loss and more by the end of March. The rally continued through summer, apart from a brief sell-off in the wake of the UK's Brexit vote...

     
  • Sextant Mutual Funds Quarterly Commentary 2016 Q3

    Stock markets continued their upward march in the third quarter, although there were some shifts in leadership. Over the second quarter value stocks were the clear winners, while growth lagged. That reversed in Q3 with the Russell 1000 Growth Index staging a solid rebound, while the Russell Value Index trailed. International developed markets were weak performers...

     
  • Sextant Mutual Funds Quarterly Commentary

    If John Lennon were alive today, he would be 76 years old and likely not very worried about the future returns on his investment portfolio. For the rest of us, conditions in global capital markets are more concerning and truly unprecedented, particularly within fixed income. The bull market in US Treasurys that began in late 1981 has continued into 2016, driving rates to the lowest levels since the Civil War...

     

2015

  • Sextant Quarterly Commentary 2015 Q4

    After three years of largely uninterrupted appreciation, global stock markets, with a few exceptions, hit a wall in 2015 as the S&P 500 Index squeaked out a paltry 1.38% rise, and the Dow Jones Industrial Average Index added only 0.21%. The Nasdaq, led by the F.A.N.G. highflyers, provided some relief and rose a respectable 7.11%. While the non-tech oriented broad indices failed to register significant gains...