Quarter 1 - 2025 Newsletter
Quarter 1 - 2025 Newsletter
Enclosed with this letter is a simplified summary of your investment account values as of
March 31, 2025. The quarter in brief as of 03/31/2025 (1)
Q1 2025 1 Year Trailing 01/01-04/11
Dow Jones Industrial Average -.087% 8.97% - 4.39%
S & P 500 -4.27% 10.77% -7.64%
Bloomberg US Credit 2.36% 5.66% -0.66%
Due to the recent market volatility in addition to our typical quarter-end and one year trailing returns we have added year to date figures as of April 11th, which include the most recent negative returns and volatility which have returned to the market.
At the end of last year and the first quarter of this year, we had held steadfast and felt that the economy did not appear to be in danger of regressing into a recession. However, economic uncertainty that has followed the Trump Liberation Day tariffs has increased the possibility of a recession. If we do go into a recession, history indicates that only 4% more downside is what may be expected. The bulk of the pain would be behind us in that case, and historically speaking, forward returns have been strongly positive over the first 12 months following a recession.
Even with that said and with the uncertainty around rising inflation and slowing growth, we still believe that now is not the time to sell out and lock in your losses. Now is the time, however, to look closely at your portfolio and make sure it is properly diversified and matches your risk profile and distribution goals.
Let us assist you in ensuring that your portfolio is properly diversified and matched to your risk profile to help you remain invested for the long term.
Sincerely,