Broadleaf Partners
Commentary
One of Those Times
During the onset of the COVID crisis, I made a note to myself to write an update in five years to discuss what happened to the markets since that trying period of time. This week, I received a task alert in Salesforce reminding me to write that update.
Commentary
What We're Thinking
We wrote this in the evening last night and with the news so fluid, there are further things we could add this morning.
Commentary
Our 2025 Playbook
Each year, we look back at the prior year’s Investment Playbook to assess what we got right, what we got wrong, and what we learned in the process.
Commentary
Fourth Quarter 2024 Performance Commentary and Review
2024 was about as good as it gets in the equity markets – with the BGEP up 31% and the broader market as a whole posting double digit gains. Underneath the surface, we believe that there are three main drivers of the year’s solid returns. We discuss them below in our market review and outlook.
Commentary
Brexit is Beautiful, Act 2
by Doug MacKay of Broadleaf Partners,
The results of last night’s election are no doubt worthy of an Economic Update
Commentary
What We’re Thinking
China and energy are the risks and lower for longer is the most likely domestic growth path. No recession is our call. And we’ll sell when we need to, even when we don’t necessarily want to. Discipline is key in times like these.
Commentary
2016 Investment Playbook
by Doug MacKay of Broadleaf Partners,
It’s that time of year again. Time to take stock of the year that was and time to try pondering what 2016 could look like.
Commentary
Little League Trophies
The financial markets have worn many masks this year. Like a ping pong ball, wide and powerful swings from Fed pronouncements, movements in the dollar, and the price of oil have contributed to violent and swift changes in mood. Perception and reality are almost entirely a function of macroeconomic news, but for the very brief period in time each quarter when company specific news arrives in the form of earnings season.
Commentary
Heading into the Labor Day Weekend
As we head into the extended Labor Day Weekend, we thought it would be a good idea to share some quick thoughts on the continued volatility in the global stock markets, including our own. In addition to our own long weekend, the markets in China will also reopen on Tuesday, after being closed for their holidays the past two days.
Commentary
Earnings Voids and the Emergence of Plausible Risk
We had put the finishing touches on a market update celebrating our first ten years in business, but were rudely interrupted by the first violence in the markets we’ve seen in nearly a year.
Yes, a year.
Commentary
Nevis & NASDAQ 5000
Fifteen years ago, the tech-stock heavy, dot-com laden NASDAQ hit 5000, a level it hasn't seen since - until today - March 2nd, 2015. Whether or not it will maintain a closing price above 5000 remains a work in progress, but in all likelihood, we'll get there.
Commentary
A Tale of Two Worlds
We are in a Tale of Two Worlds. One worlds success is highly dependent on the outlook for oil and other commodities, while the others is far less exposed and perhaps even a beneficiary of a more bearish climate. Commodity dependent countries like Russia, Saudi Arabia, China and Australia are hurt by falling oil prices, weak global demand and new sources of supply, while the United States, with a far larger consumer driven economy, experiences an overall net benefit, as perhaps seen in earnings from the likes of Wal-Mart, Best Buy, and Lowes in recent days.
Commentary
A Moody Market
For those that may not have noticed, stock market volatility has been on the rise in October, with more up and down 1-2% days and powerful intraday moves than we've seen since the Great Recession. Weak overseas economies, fears over what rapid declines in energy prices could mean, and Ebola are just a few of the factors that have been used to explain the disappointing action.
Commentary
America in the Driver’s Seat – Enjoy the Ride
Like clockwork, earnings season has drawn to a close, creating an information vacuum for the stock market, one in which the media spends more time "making" the news than perhaps reporting it. The marginal dollar at trade - or the price maker in a high frequency dominated trading world - is one more likely to be concerned about the Fed's words over the next two days than the stream of earnings produced by corporate America over the next few quarters.
Commentary
Our Take on the Fed Minutes
Usually, I don't have anything intelligent to say more than once every month or so and since I'm not a journalist, I'm never forced to make stuff up just to sell papers. I do believe, however, that the release of the Fed Minutes was worth a few of my minutes and perhaps yours. Even if you're yawning right now, please know that putting my thoughts in writing helps me to better manage your investments. As a money manager, we pick your investments, not your money managers. The buck starts and stops with us.
