In the 60’s classic documentary The Endless Summer, two surfers set out to chase summer around the world while promoting a fun-loving and casual lifestyle with surfboards in tow. Ah, if it was only so easy! Last quarter was anything but relaxing as decidedly un-casual worldly influences - particularly global growth fears - hammered markets and produced the weakest quarterly performance for stocks in four years (7% losses for most major indices). The same can be said for emerging markets, commodities and high-yield bonds. Investor sentiment was rocked as the stock market entered a correction for the first time in over forty months. While corrections are common occurrences, the four-year gap since the last one has made this past “bummer” of a summer feel particularly bad. Please click the button below for our detailed commentary on the third quarter.
Q3 2015 Market Insights