Year-end letter and a holiday message

By Jim Ewing on December 23, 2022

We hope this message finds you well.  This has been quite an eventful year!  Faced with the war in Ukraine, rolling lockdowns in China, high levels of global inflation as well as rapid interest-rate increases from central banks around the world, conditions have been rather challenging for both equity and fixed income markets alike!  As long-term investors we understand that bear markets, while unpleasant, are a normal and necessary part of the investing process.  Importantly, conditions such as these can create opportunities for rebalancing, tactical investing, tax minimization and adding exposure to alternative investments. Where appropriate, we’ve looked for opportunities to incorporate these and other strategies on your behalf, and will continue to do so as conditions evolve.     

We also note that your financial goals don’t disappear during challenging financial conditions.  As time passes, we move closer to a number of important dates in each of your lives: the date that you plan to retire, the graduation date for a child or a loved one, the day that you start or exit a business, or even the day that you finally take the vacation of your dreams. While we value our role in providing investment advice and managing assets on your behalf, we are equally focused on helping you with your financial planning. We take pride in working with you to simplify your decision-making while helping you organize and navigate your financial life.   

We are sincerely grateful for the trust that you have given us as well as the important role that you allow us to play in your lives. We wish each of you a wonderful holiday season!  We hope that you are able to rest, recharge, and spend time with friends and family.  We have cherished the time that we’ve spent with you this past year and look forward to a happy and healthy 2023!