On April 2, President Trump announced new tariffs on nearly all major trading partners. These tariffs are “reciprocal” in that they correspond to tariffs each country imposes on U.S. goods and are on top of previously announced duties.
“All that glisters is not gold.”
William Shakespeare, The Merchant of Venice
Sometimes, even gold doesn’t “glister” as much as we think. Gold prices have reached all-time highs lately amid worries of economic uncertainty. But is adding it to a portfolio a solid approach, or a fool’s errand?
Clearly 2025 has not started out the way most investors would have wanted. The stock market has stumbled with the S&P 500 declining year-to-date. While tariffs have garnered the most attention, investors are also concerned about mixed economic signals including weak consumer confidence, hotter inflation, government worker layoffs, and more.
It looks like some tariffs will be imposed this week. Imposing a tariff is like using a chainsaw instead of a paring knife to cut an avocado; crude, messy, and generally ineffective.
2025 Retirement Savings Contributions
Diversified Portfolios Can Help Investors Weather Global Policy Changes
Welcome to 2025! As my wife often says, the days are long, but the years are short. There’s something beautiful about winter’s chill balancing with the warmth and sunshine of spring and summer. While I love summer, I’m a winter person. I’ve been skating as long as I can remember and have been on skis since I was three. Winter also means firing up my Ariens snow blower to tackle the snowbanks left by the plows at the end of the driveway.
Hello everyone,
Welcome to our third quarter market perspectives. It feels strange writing about the strength of the markets, the resilience of the economy, the broad stability of the employment outlook, and the first Federal Reserve rate cut in four years. It is strange because many of our colleagues, clients, and friends in Tryon, Asheville and the Western North Carolina region are struggling. Hurricane Helene devastated towns, destroyed homes and businesses, and shook people’s psyches. As I write this, many are still without power, water, internet and only have spotty, if any, cell service.
“Significant life events such as changing jobs, having children, getting married or divorced, illness, or death can and often do change a person’s financial goals. These events don’t always necessitate changes to a client’s portfolio, but they do prompt a discussion about their impact on the financial plan.”
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Investment Commentary: Q1 2025
As spring begins, so does a season of renewal and growth. The first quarter of 2025 certainly roared in like a lion, with tariffs and trade dominating the spotlight.