economy & Markets

Special 2021 Economic and Market Report series, & 2020 Year-End

We have four short reports this quarter & year-end describing: The Economy, the Stock Market, the Bond Market and our Portfolio Analysis.

Click below to read each report:

1.  The Economy

2.  The Stock Market

3.  The Bond Market and

4.  Our Portfolio Performance/Analysis

I was quite proud of these four reports, thinking they give a concise summary of each area everyone could understand. Then I read an article by Jeremy Grantham titled Waiting for the Last Dance: The Hazards of Asset Allocation in a Late-Stage Major Bubble. This article may be even easier to understand, and I believe it is one of the most important messages ever delivered to the investing public.

Key Excerpts from this article (click here)

Mr. Grantham cofounded GMO in 1977 and is a member of GMO’s Asset Allocation team, serving as the firm’s chief investment strategist. He is a member of the GMO Board of Directors. Mr. Grantham is held in the highest respect by the world’s greatest investors – the word legendary being the word most often used to describe his investment success, and insight, over a very long time period.

Hope you enjoy the reports. 

Richard Morey

2020 Economic and Market Report Q3

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All investment portfolios need to have priorities. These priorities are best defined by an honest appraisal by the investor and their advisor. What do you need your money to do for you? Time horizons, risk tolerance and individual preferences all must be considered.

Some investors want their accounts to grow and appreciate for their future. Some of our retired investors want a more income-oriented portfolio that distributes income with very low volatility. Others prefer a mix of the two approaches.

Whatever the priorities are, our firm can help those financial goals become reality.


Objective: Capitalize on market volatility with optimal diversification to protect against loss.

Drawdown guidelines designed to protect principal using an active trading protocol, in which assets are monitored daily.

Sample Asset Classes:

·        U.S. Government Treasury Bonds
·        Precious Metals (Gold & Silver)
·        Managed Futures – Trade in liquid markets including Bonds, S&P 500, commodities & currency.

Goal:  to outperform over the rest of the current economic cycle.


Objective: Invest in a diversified portfolio of assets and funds that can generate dividends, interest, or distributions.

Portfolio fund selection can be tailored to investor risk and volatility tolerance.

Sample Asset Classes:

·        Fixed Income / Bonds
·        Utilities
·        Infrastructure
·        Real Estate

Goal: to provide distributions consistently that may be used for income or re-invested.