• Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful.

    Warren Buffet

Subscribe to our updates

Capital Market Review

Iron Capital’s quarterly review of capital markets performance and updated market forecast.

© rotofrank Link License
  • Capital Market Review
  • January 2021
  • Iron Capital Advisors

Fourth Quarter 2020

“To everything there is a season, and a time to every purpose under the heaven.”
The season will change, value is coming.

© Aquir Link License
  • Capital Market Review
  • November 2020
  • Iron Capital Advisors

Third Quarter 2020

Wall Street has seemingly just clued into the fact that it is an election year and a highly charged one at that.

© champc Link License
  • Capital Market Review
  • July 2020
  • Iron Capital Advisors

Second Quarter 2020

The stock performance pattern of the last decade is not sustainable and will end; the questions are, how and when will it end?

© JJ Gouin Link License
  • Capital Market Review
  • April 2020
  • Iron Capital Advisors

First Quarter 2020

So often we are afraid of the wrong thing, because our sense of fear comes from media distortions. This crisis is a case in point.

  • Capital Market Review
  • January 2020
  • Iron Capital Advisors

Fourth Quarter 2019

The Setting Every Community Up for Retirement Enhancement (SECURE) Act is the biggest change in retirement plan law in a long while. Has our federal government made you more secure?

  • “To everything there is a season, and a time to every purpose under the heaven.” Ecclesiastes 3:1

    Yes, that is right, this is not just a song by The Byrds, it is scriptural wisdom, and whether one learned it in Sunday school or by singing along to the radio it is just as true. For what seems like years now, we have been talking about the market’s unhealthy skew towards large growth companies.

    The rising tide has not lifted all ships and investors who buy value stocks, or the stocks of smaller companies and those headquartered overseas have seen little in the way of growth.

    Some of our clients have even taken to making fun of me (to my face – they always make fun of me behind my back) because of my insistence that this will pass. The season will change, value is coming. Not only has my tune not changed, but we may have already seen the change.

    The trigger for this season change appears to be Wall Street’s hope for stimulus. The focus on the word stimulus was translated economic growth. We have seen false starts in this transition before, and it is possible that is all the last four months have been. These larger trends do however go on for years, and lately a decade seems to be the life span. “To everything there is a season…a time to plant, and a time to pluck up that which is planted.” We appear to be in the time to plant some diversification.

    To read the full report please download the PDF.

    ~Fourth Quarter 2020

  • Wall Street has seemingly just clued into the fact that it is an election year and a highly charged one at that.

    There is a significant probability that with so many people mailing in their ballots, we may not know who the President is on the 3rd of November. That is not going to be good in the short haul.

    More important to the market may be the fate of the Senate. If Biden wins and there is a Democratic sweep, the short term may be smooth as this would avoid civil unrest, but then what matters is, what will they actually do? The party platform does not represent what I believe to be the core of the Democratic party, let alone of America as a whole. The question is, who would actually be in charge – the Joe Biden we knew from the Senate, or AOC and her socialist “squad”?

    If Trump wins, the long term is more certain, but in the short term we will see riots. The market will not like that. If Biden wins but the Senate remains under Republican control, this could be the best outcome from the market perspective. I’m not saying it is best for our country, that is a political judgment and not my place, but it will mean peace in the short term and moderation in the long term, and Wall Street likes that.

    To read the full report please download the PDF.

    ~Third Quarter 2020

  • For the last decade, growth stocks have outperformed value stocks, large-company stocks have outperformed small-company stocks, and domestic company stocks have outperformed international company stocks. This is not sustainable and it will end; the questions are, how and when will it end?

    ~Second Quarter 2020

  • So often we are afraid of the wrong thing, because our sense of fear comes from media distortions. This crisis is a case in point.

    Anecdotally I have heard many neighbors and friends who are terrified of getting the Coronavirus. They are under the impression that it is a death sentence. I get it; the media spends all day every day counting the bodies, and that has an impact. Perhaps some perspective will help.

    ~First Quarter 2020

  • The Setting Every Community Up for Retirement Enhancement (SECURE) Act is the biggest change in retirement plan law in a long while. Has our federal government made you more secure? I’m reminded of a saying that Ronald Reagan used often: The most feared words in the English language are, “I’m from the government and I’m here to help.”

    ~Fourth Quarter 2019