Q3 ended just as Q2 did, with overly negative investor sentiment and over-sold market conditions. As I speculated within last quarter’s Outlook, a late-summer rally lifted stocks by about 15% from that Q2 morass. But the stock market would roll over yet again following Federal Reserve Chair Jerome Powell’s hawkish inflation/interest rate policy commentary at the annual Jackson Hole Economic Symposium in late August. Unable to hold the prior 2022 lows struck in June, for the third consecutive quarter stocks ended Q3 sitting at new annual lows.

This link is to a PDF containing our Q3 2022 Market Recap, Performance Review and Near-term Outlook. This Recap incorporates a broad review of global markets, including a series of directly comparable, globally diversified, balanced portfolio benchmarks constructed by iShares (by Blackrock). The commentary and performance information, coupled with the tabled data will, hopefully, help each reader evaluate their own portfolio performance in proper context with just a few numbers.

As always, I am available at any time, any day of the week, to discuss specific portfolio performance questions with all clients.

A.J. Walker, CFA CFP®
Founder, President, and CEO

Lake Jericho, LLC