Quarterly Market Outlook Reports

Each Quarter, our team of portfolio managers meet to discuss the trends of the previous and upcoming quarter. We assemble the trends, the impact to our portfolios and discuss which moves are prudent for the coming weeks and months. And we deliver this analysis to you every three months.

Second Quarter, 2026

The second quarter was the best performing quarter for both the NASDAQ Composite and the S&P 500 in the past six years, so expectations remain very high since economic growth is clearly accelerating. Our favorite economist, Ed Yardeni, pointed out that we are in the midst of a FOMO (Fear of Missing Out) market and industry analysts are estimating that the S&P 500 will post 26.1% annual earnings growth for 2026 and 17.8% for 2027.

Since our fundamentally superior stocks are not appreciating as fast as their underlying earnings, price to-earnings (PE) ratios are being compressed. The stock market is expected to remain strong …