Current Commentary

Over the 25 years of providing investment advice as an Registered Investment Advisor, I’ve often explained that in exchange for peace of mind, a balanced approach requires this tradeoff:  during equity bull markets, a balanced approach will appear to underperform, simply because by design there is less than 100% equity exposure. The reward for remaining balanced is to see your [...]

Gary Miller sharing his thoughts on the economy and markets with clients at Trusted Financial’s annual holiday luncheon.

Following the equity market volatility of the first half of 2025, investors saw a calmer third quarter that rewarded those who stayed invested. Spooked by the mini Crash of April, I’ve maintained a relatively high allocation to money market funds. While we seem to be on track for a typical year’s return in the 7% range, anything could change between [...]

Daily gyrations of financial markets continued into the first quarter culminating in an apparent bottom for the S&P 500 stock index on April 7. This was followed by a dramatic turnaround that few anticipated, and few believed. There was so much “noise” amplifying the usual uncertainty that accompanies investing, that protecting client assets appeared the responsible thing to do. Thus, [...]

Artificial Intelligence versus web search...how things might change for companies: July 5, 2025, Wall Street Journal, "The Companies Betting They Can Profit From Google Search’s Demise" by Katherine Blunt

After touching historic highs in mid-February, US stock indexes slumped, with most technology winners of the past three years falling into a meaningful correction. All told, it was a first quarter that began on a positive note as markets cheered what they hoped would be a Trump 2.0 administration focused on deregulation and tax cuts. It ended not with a [...]