April 17, 2023 Risk Management and Investment Discipline Dear Friend: The most significant event in the first quarter of 2023 was the failure of two U.S. banks on March 9 and the subsequent panic in the U.S. regional banks. Fortunately, the Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation (FDIC) took swift action to calm the market and depositors. The .... Continue Reading
October 18, 2022 The Challenge and Opportunity of Inflation Dear Friend: It has been a year since we discussed the supply chain issue, labor shortage, ongoing pandemic, China slowdown, and inflation. Some of the challenges persist and continue to cause colossal volatility in the stock markets. The recent focus has been on inflation and the central banks’ actions to tame it. Inflation was .... Continue Reading
July 18, 2022 BEAR Markets, Speculators in Cryptoassets Lost $2,000,000,000,000 This Year Dear Friend: This summer I wanted to write about market volatility and investor behavior in down markets, and then I remembered that we discussed these topics in Noesis’ July 2014 newsletter. Our message is the same now as it was in 2014. Re-reading this newsletter, I realized that I cannot improve .... Continue Reading
April 15, 2022 Focus on What to Own Dear Friend: Our colleague Michiel Scholten, who runs our Dutch office in Amsterdam, will discuss Russia’s invasion of Ukraine in the first part of this quarterly letter. Being geographically closer to the conflict makes him well-suited to write about this war and its consequences. The second part of our newsletter will focus on the meme .... Continue Reading
January 19, 2022 Outlook for 2022 Dear Friend: Review of 2021 We wrote the following at the beginning of 2021: “The tug of war between greed and fear was definitely on display in 2020.” A similar situation occurred in 2021. The ample money supply in the financial system has raised the price of everything – including stocks, houses, cars, and daily consumable goods. .... Continue Reading
October 19, 2021 Opportunities Through Market Volatilities Dear Friend: As we are approaching the last quarter of 2021, we face many issues: the continuing pandemic, inflation, supply chain disruption, labor shortage, elevated government debt burden, China growth deceleration, and less predictable weather patterns. Almost every segment of society – the business communities, governments, healthcare professionals, and environmentalists – are all trying to figure .... Continue Reading
Longevity Planning July 19, 2021 Dear Friend: We often write about the markets, the economy, specific investment ideas, or strategic themes, but in this newsletter we want to focus on the planning solutions we implement day in and day out for the families we serve. It is our goal to provide financial peace of mind for you, and this extends beyond creating portfolios .... Continue Reading
How Noesis Looks at Sustainability April 18, 2021 How Noesis Looks at Sustainability Over the past year, we have received many inquiries about how to invest in sustainable companies. It was not until the ESG (Environment, Social, Governance) theme became a popular keyword in the media that investors started to correlate sustainability, social responsibility, and corporate governance to economic performance. For example, the S&P Global Clean Energy index .... Continue Reading
Outlook for 2021 and Beyond January 16, 2021 Dear Friend: We have finally arrived in 2021, leaving a year of anxiety and challenges behind us. The pandemic is not over, and many continue to suffer from health and financial issues. Despite this, investors still turned their attention away from pandemic development and returned it to the market. Such behavior is all too familiar .... Continue Reading
Client-Driven Evolution October 16, 2020 by Noesis Capital Management Dear friend, CLIENT-DRIVEN EVOLUTION We wish we were celebrating our 25th year in business with you right about now. For those of you who could have made it to our headquarters in Boca Raton, we had planned on raising a glass and thanking you in person for being part of our success over the past 25 years. .... Continue Reading