Commentary

Each month, the BCWM Portfolio Management team publishes an Investment Commentary that examines the latest developments in financial markets and the economy. We filter out the noise and present the information most relevant to our investment strategies and management of our clients’ portfolios.

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The Obvious is Hardly Ever Obvious

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The most interesting technology grabbing headlines over the past couple of months is called ChatGPT. It is essentially a Google search on steroids. You can ask it anything and it will provide an answer, even answering in the style of your choosing (Southern drawl, Shakespearean prose, biblical, etc.). It can write poetry, solve math problems,…
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Back to Basics

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This past year was the most difficult investment year in a long, long time. During previous bad markets, there were typically other asset classes (bonds?) that offset the decline in stock prices. For example, during the sub-prime mortgage crisis of late 2007 through early 2009, the stock market declined 55%, but there were other asset…
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The Inevitable Crypto Scam

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It now appears that the great Red Wave didn’t quite materialize during the mid-term elections. (We fondly recall the days when election results were almost always announced the following day.) And although Republicans now have a House majority, the Senate is still somewhat undecided. With a run-off election in Georgia yet to come, the Democrats…
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The “R” Word

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In the past two months, the stock market has rallied, gaining over 17%. Of course, that’s on the heels of a decline in excess of 22% since year end, so the market is still down about 9% for calendar year 2022. (Trust us, the math is correct.) As we have noted before, the most significant…
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While You Weren’t Looking

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The most recent inflation report stated that prices had increased 9.1% in the past year, “the largest increase in forty-one years.” The largest increase in forty-one years? Wow! We know this sounds crazy, but one of our co-founders actually began his career exactly forty-one years ago. And he notes some startling differences between 9.1% inflation…
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