Market Commentary | January 16, 2026
Looking Back to Gain a Better Look Forward
As a matter of housekeeping, every fall investors work to prudently minimize their tax liabilities by washing their current year realized gains by “harvesting” tax losses with the sale of assets that have declined in market value. Unfortunately, the stocks we see as having the most potential are often the best tax-loss sale candidates. To mitigate this conflict and stay fully invested, we need to identify issues that have a chance of producing similar upside as the issues we are selling.
The State of REITs: January 2026 Edition
The State of REITs: January 2026 Edition The REIT sector closed out 2025 with a tough December (-1.48%) and finished the year with a total return of-3.57%. Small caps (+0.51%) eked out a small gain in December, while mid caps (-1.77%), large caps (-2.55%), and micro...Are There Still Opportunities Available in a Stock Market at an All-Time High?
The NASDAQ, S&P500, and Dow Jones Industrial Average surged to all-time highs again and again and again during 2025. While some portion of those gains was warranted by earnings growth, much of the surge was fueled by multiple expansion. The Shiller PE Ratio just rose above 40 for only the 2nd time in history and is very close to an all-time high.