Year-end Review and 2023 Outlook
The old adage “don’t fight the Fed” was never more apt than in 2022, a year of stunningly bad performance across virtually every asset class. Equities fell nearly 20% while bonds, normally a safe haven, turned in their worst performance in over 50 years.
Rates…Rats!
Recent market action has been unsettled, an environment requiring a steady hand and disciplined management. At Roanoke, we believe in the power of the American system to support innovation leading to improved efficiency, higher labor productivity and ultimately sustained economic growth in the long-run and get excited when we’re able to add long-term winners to your portfolio during times of heightened trepidation.
Year-End Review and Outlook
We begin our look back at 2021 with the sincere hope that you, your family, friends and extended networks have been safe and sound during this period of extended tumult. We are grateful for the trust you have placed in us as steward of your financial well-being. We hope to earn your continued confidence by making smart investment decisions that preserve and extend wealth and by being available to provide advice and counsel whenever needed. We are constructive on market prospects for the coming year
COVID Shocks. We’re Bullish.
Fears of COVID-driven economic dislocation have elevated risk aversion, producing a favorable risk-reward outlook and supporting our bullish stance.