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January 2018 Review & Outlook


2017 was a continuation of one of the longest equity bull markets in US history. The year ended with a return in the S&P 500 of 19.42%, which was one of the best years of this multi-year run. The fourth quarter of 2017 provided returns in the S&P 500 of 6% on the momentum provided by the corporate and individual tax reform. A rare combination of global economic growth, accommodative economic policies, record corporate earnings and tame inflation provided the recipe for a strong year for stocks and a bull run that continues to be one for the record books.

Internationally, economic recovery and growth continued and reflected in equity prices as foreign markets even tended to outperform the strong US markets. With the US recovery more mature than that internationally, especially the Eurozone, the trend is likely to continue. Continue reading “January 2018 Review & Outlook”



The third quarter of 2017 was one for the record books with the S&P 500 posting its first positive September since 2013 and closing at a record high. In addition, the Dow posted its first consecutive 8 quarter positive streak in 20 years. A strong September pushed US markets higher on the heels of firmer global inflation readings, the hope for US tax cuts and a stronger US dollar. Continue reading “OCTOBER 2017 REVIEW & OUTLOOK”

May 2017 Review & Outlook

Now that tax season is behind us and Spring is in the air, let’s take a look at the first quarter of 2017 and the outlook going forward.


US stock markets got off to a great start in 2017 as both corporate earnings and economic data continued to improve. However, March was more volatile as President Trump was unable to pass a new healthcare bill to repeal and replace Obamacare. The inability to pass a new healthcare bill decreased hopes of a tax plan that would reduce both corporate and personal tax rates and bolster spending and growth to the US economy. Despite the March volatility, US stock indexes were still able to produce impressive returns of around 6% for the quarter. Continue reading “May 2017 Review & Outlook”

January 2017 Review & Outlook

With the presidential inauguration behind us, it is now time to reflect on the past year and look forward to the outlook ahead.


The volatility that was prevalent in the markets the first three quarters of 2016 transferred into volatility of emotions in the 4th quarter. The election night surprise of Donald Trump winning the presidential election had investment managers bracing for an immediate sharp reactionary selloff. At one point in the early hours of Wednesday morning, the S&P futures were down significantly. Thankfully as the news was digested, and regardless of personal opinions of President Trump, the US stock markets opened nearly flat. Continue reading “January 2017 Review & Outlook”

Review and Outlook – October 2016


Continued volatility remained the main theme of the 3rd quarter. Although economic conditions in the U.S. seem to be stabilizing, questions surrounding international economies, interest rate hikes and the presidential election contributed to near daily fluctuations the markets have avoided during most of the current multi-year bull run. Continue reading “Review and Outlook – October 2016”

VCM Wealth Announces Achievement of GIPS® Compliance


VCM Wealth is pleased to announce that we are now GIPS® compliant and our claim of GIPS compliance has been independently verified by Ashland Partners & Company LLP. In addition to the firm-wide verification, Ashland Partners also conducted a performance examination on the VCM Balanced Strategy Composite. Continue reading “VCM Wealth Announces Achievement of GIPS® Compliance”

April 2016 Commentary

As we entered 2016, the factors that led to the volatility throughout the 2nd half of 2015 persisted. After one of the worst ever starts to a year, a rally in March led to the S&P 500 ending positive for the quarter.

Uncertainty in the financial markets leads to volatility. There was uncertainty about the price of oil, US interest rates and the overall health of the global economy. Continue reading “April 2016 Commentary”

January 2016 Commentary


Investors and money managers alike were happy to say goodbye to 2015 as the S&P 500 closed the year on the downside for the first time since 2008. So far, 2016 has not fared better in its first week with global markets suffering.

There is much uncertainty and bad news out there to justify the negative sentiment:

  1. Oil continues its slide which many believe is a telling sign of a global slowdown
  2. There is fear of a slowdown in China and such has seen its stock market halt a few times due to mass selling
  3. The US Federal Reserve raised interest rates for the first time since June 2006 and has hinted at 3 or 4 more in 2016
  4. North Korea has an H bomb (ok, probably not)

Continue reading “January 2016 Commentary”

October 2015 Commentary

Quarter Review

Everywhere we looked last quarter flashed signs of a pullback:

  • The 3rd quarter is typically the worst quarter
  • A slowdown in China
  • The Fed may raise interest rates
  • A collapse in oil prices

It’s no wonder that at one point we saw the S&P 500 decline over 10% from its highs for the first time in 3 ½ years. The headlines left many investors jittery about living through another major market pullback like we’ve seen on 3 other occasions since 2000. What I routinely reminded our clients is that, historically, we get a 10% pullback annually. So waiting 3 ½ years, we were long overdue. Continue reading “October 2015 Commentary”