Market Update Markets dabbled in correction territory at the start of the year and then claimed some of the losses back in the second half of March. U.S. stocks, developed foreign stocks, and emerging markets were down 5.3%, 5.2%, and 6.7%, respectively. In this past quarter, small cap underperformed large cap by 2.4% and value…
Read More
Writings
Doing a Leeds
One of the most storied clubs of English soccer is a club that you probably have never heard of. If you are even vaguely familiar with soccer you would probably recognize the names of Manchester United, Chelsea, or Liverpool. They’ve been dominant forces for a number of years. In 1992, the top English soccer league…
Read More
Finding Enough
My kindergarten teacher told me to keep my eyes on my own work. We spend the rest of our lives ignoring that advice. As much as I love talking about strategies to save thousands of dollars on taxes or dealing with a complex estate situation (and I sure do!) I can’t move the needle to…
Read More
Response to January’s Markets
The U.S. market toyed with being in correction territory last month (being down 10%), and we saw tech stocks, as measured by the NASDAQ, fall below that measure. What do we make of this? Investor and writer Howard Marks has a great illustration that helps us think of markets. Picture a pendulum, maybe one from…
Read More
2021 Annual Letter
The Roots Come First 2021 marked the first full calendar year of Birchwood Capital. When people ask me how business is going, they tend to focus on the flexibility and freedom owning your own firm offers. At 30,000 feet, what we do is simple and exciting – help people retire with confidence. And there are…
Read More
4Q 2021 Market Overview
Market Update The U.S. and real estate markets surged at the end of the year. The U.S. market was up 9.28% in the 4th quarter as measured by the Russell 3000 (the 3,000 largest U.S. companies) and real estate was up 12.35% in the 4th quarter as reported by the S&P Global REIT Index. Developed…
Read More
