October 15 2025 Stock Prices Tend to Move in Line with Earnings Dear Friend: The U.S. equity market performed well from its low in April, raising questions about whether we are approaching exuberant levels. There are fundamental reasons supporting the market’s strength, particularly strong corporate results. Revenue for all companies in the S&P 500 Index grew +5% year-over-year (yoy) .... Continue Reading
Thinking about retirement? Whether you're planning to stay in the Netherlands, return to the U.S., or settle somewhere new, it’s never too early (or too late) to get your financial strategy right. The Amsterdam American Business Club, along with her sponsors, BNC Tax & Accounting B.V. and Noesis Capital Management hosted a special tax & retirement strategies panel discussion event at the historic .... Continue Reading
July 25 2025 Learning from the Past, Building for the Future Dear Friend: This fall, Noesis turns 30. It is a moment that invites both reflection and celebration — not only for what we have achieved as a firm, but also for the lasting relationships that have shaped our journey. When Noesis was founded in 1995, we had a .... Continue Reading
April 15 2025 Learning, Adapting and Sharing in the AI Era Dear Friend: Many might expect this quarter’s newsletter to discuss tariffs, wars, and market correction. Although the recent tariff announcements are concerning, we are carefully evaluating the implications and analyzing how we can turn uncertainty into opportunity. As we have often said, volatility is our friend. Our focus .... Continue Reading
15 January 2025 Focus on Fundamentals Instead of Forecasting the Future Dear friend: As we close the books on 2024, it is a good time to reflect on the past year and carry key lessons into 2025. The end of each year often brings an influx of market predictions from Wall Street analysts and economists. While these forecasts can sound interesting, the .... Continue Reading
15 October 2024 Politics and Fundamentals Dear Friend: Every four years as the U.S. Presidential election approaches, clients often express concerns about how to position their portfolios, with suggestions ranging from selling everything to buying certain sectors based on perceived policy benefits. At Noesis, we closely monitor global politics but believe its long-term impact on the economy is overstated. .... Continue Reading
16 juli 2024 Unleashing the Potential of AI to Your Portfolio Dear Friend: Artificial Intelligence (AI) continues to reshape industries, driving innovation and transforming traditional business models. In this newsletter, we explore how three companies in our core holdings — JP Morgan Chase, Royal Caribbean Group, and The Walt Disney Company — are harnessing AI to revolutionize their operations .... Continue Reading
January 10, 2024 Don’t Fall For These Traps! Dear Friend: Over the years, we have communicated with you through the Noesis quarterly newsletters, in-person meetings, and phone calls regarding topics that dominated the news. On December 18, 2023, the Wall Street Journal published an article, “What the Stock Market Taught Us This Year: Don’t Fall for These Traps,” saying that investors have been more influenced .... Continue Reading
October 11, 2023 Inflation and Interest Rates Dear Friend: The topic of inflation and interest rates remained top of mind for investors throughout this year and last. We will discuss recent developments, their impact on fixed income and equity markets, as well as opportunities we have identified. Since March 2022, the Federal Reserve (Fed) has raised its short-term interest rate, the federal funds .... Continue Reading
July 13, 2023 Executing Your Financial Plan and Expanding the Noesis Family Dear Friend: It is summer in the Northern Hemisphere, and we hope that you are enjoying the warmer months and longer days with family and friends. We recently celebrated the Fourth of July in the United States, but we were not the only ones partaking in the 247th Independence Day. Our .... Continue Reading