In this commentary we discuss the return of volatility to the markets during the first quarter, the Federal Reserve’s expected path on interest rates, and continued growth in both sales and earnings for corporate America. While some investors lament volatility, we had cautioned many times that 2017 was an aberration with extremely low volatility. We have not changed our positive economic forecast, and note that the combination of strong corporate earnings with the pullback in stock prices has stocks modestly below fair value.

Read the full 2018 Q14 Market Commentary for more…

2018 Q1 Market Commentary