April 2021 Newsletter

More People Delay Claiming Social Security The average age for claiming Social Security retirement benefits has been steadily rising, as older Americans work longer. More Details Real Estate for Income and Diversification Real estate investment trusts (REITs) can...

Global Portfolio Strategy | March 9, 2021

Our year-end S&P 500 Index fair value target range remains 4,050–4,100, based on a price-to-earnings (PE) multiple of 21 and our 2022 S&P 500 earnings forecast of $195 per share. Recall that we raised our S&P 500 fair value target last month due to our...

Client Letter | The Return of Normal is Approaching | March 4, 2021

Dear Valued Investor, It’s now been over a year since COVID-19 first hit American shores. While the pandemic has affected everyone to varying degrees, we can all agree that everyone’s life is different today than it was a year ago. It’s difficult to remember what...