A Quick Note Regarding Investments

Our clients’ portfolios gained value in October. Every one of them. The portfolio that gained the least was up 1.1%. The portfolio with the greatest gain was up 6.22%.

Note: The calculation used to determine investment returns experienced by our clients is called the internal rate of return. It is cash flow specific and is net of all fees and expenses. Investment return information is provided by Morningstar using GIPS standards.

October’s gains were likely driven by an expectation that the Fed might temper their interest rate escalation strategy. However, Chair Powell’s statements in early November indicated otherwise and the new month started off “poorly.” Then this morning the Bureau of Labor Statistics reported that the core Consumer Price Index for All Urban Consumers rose only 0.3% in October, an indication that inflation is moderating in our country. Happy Days! In celebration of the CPI-U news investors bought shares, bidding up the prices of stocks.

Below is a look at the exchange traded funds held in some of our clients’ accounts. As of mid-afternoon today all had gains. Not surprisingly, the funds which have suffered the most during recent months have benefited most from good news.

Thanks for reading.

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