TIMELY PM UPDATES
BCM 4Q22 Market Commentary—Entering the Year Cautiously Contrarian: Considerations of Key Market Levers and Emerging Opportunities
What a difference a year makes. In hindsight the markets entered 2022 on an unstable precipice. Conversely, 2023 is beginning to look like a valley, with much of the prior excesses already stamped out in a…
BCM 3Q22 Market Commentary: Federal Reserve Has Markets Positioned for the Worst
What started as a summer of optimism in markets ended with a fall of fear. Tough talk from the Federal Reserve and August’s inflation print brought equity and fixed income markets broadly towards new lows…
VIDEO: BCM’s 2Q22 Quarterly Market Update Call with the PM-Looking Ahead to a (Hopefully) Brighter Future
This has been one of the most difficult investment environments with simultaneous declines in bond and stocks, and a number of external shocks. However, the odds are in the favor of investors. Click below to…
BCM 2Q22 Market Commentary: Capturing Opportunities in an Otherwise Painful Market Environment
The first half of 2022 has been one of the most difficult investment environments in the past 40 years due to the simultaneous decline of bonds with stocks, and an unprecedented mix of external shocks…
Nowhere to Hide
2022 has been a difficult and frustrating year for many asset managers, ourselves included. The S&P 500 recently entered a bear market, falling 20% from its most recent peak. While this is far from uncharted…
BCM 1Q22 Market Commentary: Investors Question the Role of Fixed Income but It Hasn’t Changed
As we reflect on another quarter, it’s astounding how rapidly the prevailing narrative changes. Last quarter we were cautiously optimistic that Omicron would push the world towards a “living with Covid” reality…
BCM 4Q21 Market Commentary: The Speculative Fever is Breaking
We’d like to start by wishing our readers a happy and healthy New Year. When we wrote our last quarterly letter the U.S. was in the midst of a wave in Covid-19 cases driven by the Delta variant. At the time…
BCM 3Q21 Market Commentary: A Feedback Loop — What could cause the economy to stray from the pre-pandemic status quo?
Nearly a year has passed since Pfizer and BioNTech announced successful Phase 3 trial results for their groundbreaking mRNA-based Covid-19 vaccine. The effort to develop, produce, and distribute these…
VIDEO: Investment Committee “Minutes in a Minute” – September 2021
Amid expiring unemployment benefits, higher than expected retail activity, and lower than expected inflation, the main topic of conversation during our latest Investment Committee meeting was the economy…
VIDEO: BCM’s 2Q21 Quarterly Market Update Call with the PM
Economic “normalization” continued as the effects of the reopenings were seen in Q2. The U.S. is growing faster than most other developed nations, at higher than expected rates prior to Covid, but is this just a reopening upswing that will fizzle out?