Current Commentary

For most clients, it was a tepid quarter, up single digits driven mostly by dividends and interest. When averaged over the past 12 months, high single digit  returns were enjoyed by many clients, but performance cannot be generalized. Each client is unique. My practice is what is sometimes referred to as a “boutique” practice. Name a client and I  know [...]

Fear Street A year and a quarter that started out strong ran out of gas as the Federal Reserve failed to lower interest rates and as a military action (“excursion” “war”, call it what you will) resulted in strangulation of one of the most important channels for waterborne transport of oil, liquified natural gas, fertilizer and helium.  Although the United [...]

Given the worrisome headlines and market volatility clients are seeing some stepped up trading activity for their accounts.  It feels like a good time for a brief update. I sold out our position in the big bank exchange traded fund. This was bought a few weeks ago based on a loosening regulatory environment and strong bank balance sheets, which offered [...]

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 [...]