Broker Check

Q4 2022 Quarterly Letter

The quarter in brief as of 12/30/2022 (1)(2) 

                                                                                                             4th Quarter   Year to Date

Dow Jones Industrial Average                                                             + 16.01%             - 6.86%

S&P 500                                                                                               +  7.56%           - 18.11%     

Bloomberg US Credit Corp 5–10-year index                                       + 3.79%           - 13.89%


You may remember that most of our letters for the last year or so said that we would be facing volatility in 2022 and boy did we ever.  In 2022 we saw ‘volatility’ defined as a single day move of 1% or more on 87% of the trading days. (3)

 As we closed out the year, some of the inflation pressures began to ease early in the 4th quarter causing the stock and bond markets to experience a strong rally.  But optimism faded as the Fed revealed that they expected to continue the rate hikes into 2023.  This, combined with signs of slowing growth worldwide and the continuing threat of a recession, caused the markets to have their worst year since 2008.

 On December 29th, President Biden signed into law the Secure 2.0 act.  Some of the changes include increased contribution limits for IRA’s, ROTH IRA’s and 401k’s; the ability to convert unused 529 plan accounts into ROTH IRA contributions; and an increase in the minimum RMD age from 72 to 73 in 2023 and then to age 75 in 2033.


Have you had a chance to check out our Facebook page?

Chip has started adding pictures and news about QCFA and interesting information articles.


Do you have friends, family or colleagues who you think might benefit from having a conversation with us about this volatility?  We would greatly value your referral