The TANDEM Report

The TANDEM Report is our quarterly newsletter to clients that contains our current views and news.

October 2022

The third quarter was a tale of two markets. From June 30th through August 16th, the S&P 500 rallied 14%. Things were actually starting to feel good again for investors.

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July 2022

The first half of the year is now in the books, and with that comes a welcome new quarter. The previous six months have been especially tough for many investors. In fact, 2022 had the worst opening half to a year since 1970.

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April 2022

U.S. equities broke their quarterly winning streak, declining for the first time since the depths of the pandemic. The S&P 500 notched its first quarterly setback since Q1 2020.

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January 2022

Another remarkable year in the stock market has come to a close. Much of the commentary in these pages will address the uncertainty that lies ahead. Before we do that, we should celebrate what 2021 achieved for investors.

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October 2021

For the first time since January, the S&P 500 experienced a down month. While we certainly don’t celebrate down months, they are welcome from time-to-time.

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July 2021

The U.S. stock market continued its relentless move higher. Having posted its best 12 month return in more than 30 years last quarter (56.36%), the S&P 500 Total Return Index cooled off only slightly, recording a 40.33% return for the 12 months ended June 30.

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April 2021

The stock market continues its impressive run. Beginning in March 2009, with what we will call a bear correction (a new term we are coining), through the first month of the COVID pandemic, the S&P 500 is on a twelve-year tear. Bad news is good news, good news is good news, and even no news is good news. The S&P is up 77.57% from its COVID low closing March 23rd of last year through March 31st of this year. That is an impressive run within an impressive run.

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January 2021

Market Commentary: A Year of Many Records; Some Noteworthy, Some Dubious
Commentary: Stocks are Expensive. Does that Mean the Market is?

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