2018

  • Saturna Sustainable 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...

     
  • Saturna Sustainable 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

  • Saturna Sustainable 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...

     
  • Saturna Sustainable Funds Quarterly Commentary Q3 2017

    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...

     
  • Saturna Sustainable 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.

     
  • Saturna Sustainable Funds Quarterly Commentary Q1 2017 Cover

    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

  • Saturna Sustainable 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...

     
  • Saturna Sustainable Funds Quarterly Commentary 2016 Q3

    The third quarter extended the rally that began in the second quarter, yet we remain concerned that valuations are disconnecting from growth and this quarter highlighted just that. A strong rally in Technology stocks dragged markets upward, though the gains largely resulted from an increase in valuations...

     
  • Saturna Sustainable Funds Quarterly Commentary 2016 Q2

    The June 23 Brexit vote highlighted what has been a volatile second quarter for the equity markets. The S&P 500 Index notched a 1.90% price gain between March 31 and June 30, but in between, it saw a high of 2119 on June 8th and a Brexit low of 2001 on June 27 — a swing of 5.57%. The United Kingdom's vote to sever...

     
  • Saturna Sustainable Funds Quarterly Commentary 2016 Q1

    The first quarter of 2016 was remarkable, beginning with a woeful January and ending with an exceptional March. Crashing oil prices, rising concern over Europe's future, and panic over China's prospects, sent the Dow Jones Industrial Average Index plunging to its worst 10-day start to a year on record going back to 1897. By the end of January, the S&P 500 Index was down nearly 5%. Conditions improved in February, although...