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March 2026
Summary Global markets tumbled and energy prices surged in March, as the U.S. moved beyond rhetoric and plunged into war with Iran, entering the month with the hope for a swift regime change, but finishing March with the situation unresolved. Disruptions to the supply and accessibility of oil from key Middle East producers reverberated across…
Read MoreImpact Investing and Community Foundations Part 2
From Governance to Action: Practical Strategies for Implementing Impact Investing in Community Foundations Introduction In Part 1 of this series, we explored why impact investing is fundamentally a governance opportunity for community foundations. Strong governance provides the clarity and structure needed to align mission and fiduciary duty. But governance alone does not move capital. Foundations…
Read MoreReturn Forecasting Isn’t Prediction — It’s Disciplined Preparation
Photo credit: Unsplash Long‑term investors don’t need a crystal ball — they need a framework. Forecasting returns is not an exercise in predicting the next market swing, but in understanding the structural forces that reliably drive outcomes over full cycles. By focusing on observable inputs like income, real earnings growth, inflation, and credit losses —…
Read MorePreparing for The Future, Without Predicting It
photo credit: Unsplash “It is difficult to make predictions, especially about the future.” — Yogi Berra It’s a classic line. Witty. Memorable. And surprisingly wise. As my grandpappy might say, Yogi Berra “knew how to turn a phrase.” We smile at the humor— but we often ignore the lesson. Much of financial decision-making today revolves…
Read MoreFebruary 2026
Summary U.S. stocks lagged and interest rates fell during an uneven month marketed by shifting market sentiment, rising geopolitical risk, and continued murkiness on domestic trade policy. Interest rates fell, giving bonds a boost, and international equities continued to shine. The cost and consequence of the AI buildout swayed U.S. markets throughout the month with…
Read MoreImpact Investing and Community Foundations Part 1
Impact Investing and the Governance Imperative: Why Community Foundations Need a New Decision-Making Framework Introduction Impact investing has become a defining topic for endowments and foundations, and for community foundations in particular, it represents something deeper than a new investment category. It is a governance evolution—one that requires clarity, alignment, and a shared understanding of…
Read MoreJanuary 2026
Summary The new year got off to an eventful start as geopolitical intrigue, growing artificial intelligence capital expenditures, and a slew of creative economic proposals from the White House kept investors on their toes. With the United States front and center for most of the turmoil, both domestically and abroad, U.S. markets broadly underperformed their…
Read MoreSix Key Focus Areas for Plan Sponsors in 2026 – A Clear-Eyed View
photo credit: Unsplash Retirement plan sponsors enter 2026 facing one of the most consequential years in recent ERISA history. Regulatory forces, market realities, participant expectations, and fiduciary exposure are all evolving simultaneously. SECURE 2.0 is moving from statute to operations. Cybersecurity threats continue to escalate. Retirement income solutions are transitioning from conceptual to operational. Investment…
Read MoreDecember 2025
Summary Domestic stocks faded into the year-end holiday, finishing mostly flat for the month of December, while interest rates edged higher. The Federal Reserve pushed through one final rate cut for 2025, as U.S. markets wrapped the year on a tumultuous note. International stocks finished strong, with both developed and emerging markets gaining 3% for…
Read MoreThe Silence Before the Storm: Legendary Investors and Market Signals
Photo credit: Pixabay For decades, investors have sought clarity in a noisy financial world. While no single indicator can perfectly predict a market peak, the actions and commentary of seasoned, valuation-conscious investors—those who have successfully navigated multiple cycles—often provide signals worth heeding. When these figures, typically advocates of long-term optimism, begin to show caution through…
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