Whitney & Company
Insight worth your time. Quarterly letters, market commentary, planning education, reports, and communications for our clients.
Financial markets were dominated during the second quarter of 2026 by a dramatic reversal in many of the concerns that had pressured asset prices late in the first quarter. Investors entered the period focused on the conflict with Iran, severe disruptions to shipping through the Strait of Hormuz, ra
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Financial markets began 2026 on a mixed note, with elevated volatility across asset classes and a divergence in performance beneath the surface. In the first quarter, U.S. large-cap stocks, as measured by the S&P 500, declined 4.6% (excluding dividends), while developed international stocks (MSCI EA
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The past twelve months were another great period for investors, as every major asset class generated positive returns and global equity markets delivered double-digit returns for the third year in a row. U.S. stocks, as measured by the S&P 500, rose 16.4% for the year and are now up 78% over the pas
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Robert F. Pickels, CFA, chief investment officer, Whitney & Company, says there are certain topics that come up over the years that can be worrisome to some investors and that this year he’s seen that happen with tariffs and the tariff policy. “It has been scary to people and justifiably so because
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Financial market volatility was a key theme throughout the second quarter of 2025. BetweenApril 2nd and April 8th, U.S. stocks, as measured by the S&P 500, dropped over 12%, extendinglosses experienced at the end of the first quarter and resulting in a near 20% decline fromprior highs. This correcti
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After two very good years for investors, financial markets began to experience elevatedvolatility in the first quarter of 2025. U.S. stocks, which have led global markets for a while now,were negative for the quarter. Large-cap U.S. stocks, as measured by the S&P 500, declined by4.6% (excluding divi
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Financial markets had another very good year in 2024, as all the major asset classes generated positive returns. However, there was a high level of bifurcation in returns both within and across asset classes. Large U.S. stocks led the way once again, as the S&P 500 Index was up over 23% (excluding d
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Financial markets experienced elevated volatility in the third quarter, but as the final three months of 2024 get underway, stocks are at record highs and bonds are also producing solid returns. U.S. stocks, as measured by the S&P 500, rose throughout July, before experiencing an almost 10% decline
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Global equity markets posted another quarter of solid gains and added to a dramatic 18-month performance rebound. A continued rally in the stock prices of the largest U.S. companies by market capitalizations (mostly Technology stocks) once again drove the U.S. equity market’s gain. The S&P 500 index
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Financial markets picked up where they left off at the end of 2023, with a strong start to the year in the first quarter of 2024. Numerous U.S. equity benchmarks reached new all-time highs, led by the S&P 500 (large-cap stocks) which was up 10.2% in the quarter and is now up nearly 28% from […]
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Take Your Politics Out of Investing In case you weren’t aware, 2024 is an election year. With Super Tuesday’s results behind us, it looks almost certain (barring a surprise 3rd party candidate) that voters will have the same choice they had in 2020 – Donald Trump or Joe Biden. In our experience, pol
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In case you weren’t aware, 2024 is an election year. With Super Tuesday’s results behind us, it looks almost certain (barring a surprise 3rd party candidate) that voters will have the same choice they had in 2020 – Donald Trump or Joe Biden. In our experience, politics often becomes a key source of
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After a difficult 2022, financial markets staged a big recovery in 2023 with much of that recovery coming during a strong, risk-on rally in the fourth quarter. All major asset classes contributed meaningfully positive returns, ranging from 5% at the low end to almost 25% at the high end. Large cap U
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After a strong first half of the year, all major equity markets experienced losses in the third quarter. U.S. stocks, as measured by the S&P 500, were down 4.9% in the quarter, though they are still up 11.7% for the year (both excluding dividends). Foreign stocks, as measured by the MSCI ACWI Ex USA
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In our 2022 year-end letter we referenced a Buddy Holly song (Wait Till The Sun Shines Nellie) and its message – look to the future, it’s going to get better – in an effort to instill confidence that financial markets would eventually recover from the difficulties experienced last year. Even as we w
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After a difficult 2022, both stocks and bonds got off to a strong start in the new year. Softer-than-expected data on inflation in January led to falling long-term interest rates and optimism that the Federal Reserve rate-hiking cycle was coming to an end. This led the S&P 500 to post its second str
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Each year on the last day of trading, the traders on the floor of the New York Stock Exchange close out the year by singing the song Wait Till The Sun Shines Nellie by Buddy Holly. The basic message of the song – look to the future, it’s going to be better – seems particularly […]
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The first quarter of 2022 was uniquely challenging as most major asset classes turned in negative returns, and asset classes that have historically provided stability (bonds) to a portfolio were down more than more volatile asset classes (stocks). Indeed, U.S. bonds, as measured by Bloomberg U.S. Ag
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If you follow U.S. financial media, you might be surprised to know that financial markets turned in somewhat mixed results in 2021. U.S. equities, which dominate the news coverage, did indeed generate very strong returns in 2021. However, fixed income returns were flat-to-negative for the year and i
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Financial markets followed through on recent momentum to generate strong returns for investors in the second quarter of 2021. Equity markets in the U.S. led the way once again with the S&P 500 index up 8.2% in the quarter (excluding dividends), while foreign stocks and the stocks of smaller U.S. com
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After one of the most volatile years in history, financial markets began 2021 in relatively quiet fashion. Equity markets around the world generated solid returns in the quarter. U.S. stocks, as measured by the S&P 500 index, were up 5.8% (excluding dividends), while developed and emerging internati
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While 2020 was a difficult year for many people in many respects, it turned out to be another strong year in financial markets. Despite the Covid-19 pandemic which ground the global economy to a halt in March and drove precipitous declines in global equity markets, most major asset classes generated
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Whitney & Company Named to 2020 Financial Times 300 Top Registered Investment AdvisersAugust 6th, 2020 – Whitney & Company is pleased to announce it has been named to the 2020 edition of the Financial Times 300 Top Registered Investment Advisers. The list recognizes top independent RIA firms from ac
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In the third quarter, equity markets continued their recovery from the March lows. US. stocks as measured by the S&P 500 index were up 7.6% in the quarter, bringing the year-to-date increase to 3.2%, excluding dividends. As shown in the table below, the stocks of foreign companies and smaller US. co
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The first half of 2020 will go down in the books as an extraordinary time in modern history. A health pandemic has swept the globe, and the response to the pandemic has triggered a very deep recession with more people in the U.S. unemployed than at any time since the Great Depression. Markets have r
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Whitney Planning Note – CARES ACT 2020 Last Friday congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act which is a massive stimulus package to provide relief for families, individuals, small businesses, and other parts of our economy affected by the COVID-19 outbreak. The C
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Today’s environment has created a perfect time to organize your finances with after work or school activities limited. If you are suffering from Netflix burnout or boredom from staring at the walls, then we hope this update provides a little inspiration. Below are some highlighted ideas to take adva
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It is likely that most of you reading this have already read, or at least heard about, the Setting Every Community Up for Retirement. Enhancement Act of 2019 or better known as the SECURE Act. It was legislation that was originally passed by the House in July and finally approved by the Senate and t
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