Welcome to the Spring 2024 edition of Towneley’s newsletter. The theme is "Spring Cleaning: Getting organized with your finances." We will focus on taking easy steps to maximize your finances in 2024. Thank you for taking the time to read this issue, and we hope you and your family are well!

On the back of a robust labor market and declining inflation, global markets experienced a strong first half to the year, with the Russell 3000 increasing 16.2%, MSCI ACWI-EX US up 9.5% and Bloomberg Aggregate Bond Index up 2.1%. The story for the year has been the resurgence of technology stocks following a challenging 2022, with the “Magnificent Seven” leading the market higher and accounting for roughly ¾ of the gains YTD.

The federal debt limit is again in the news as the country rapidly approaches a critical deadline on June 1. Investors are understandably nervous about Washington failing to reach an agreement.

Following a challenging 2022, markets rebounded during the first quarter of 2023. Domestic equities rallied 7.2% and non-U.S. equities earned 6.6%.

Investors faced historic challenges during the first quarter as domestic equity markets fell into correction territory following an exceptional two years of performance.

As we ring in 2022, we can't help but feel like we're facing a rerun of the past.

As we begin the second half of 2021, vaccination rates are rising, businesses and economics continue to reopen, and the word on the street is “inflation.”

We have some exciting news to share with you. In June 2021, we celebrate Towneley's 50th anniversary!

At the close of 2019, we lost one of the greatest Fed chairmen: Paul Volcker. Martin Wolf of the Financial Times described Volker as a man with the highest degree of moral courage, integrity, sagacity, prudence and devotion to the service of the country.

Election years can be fraught with uncertainty as developments surrounding the candidates, their platforms, and their predicted effects on the economy and markets dominate the news. But should you let this stream of political information influence how you and Towneley manage your investment portfolio?

During the third quarter, the media released news of Warren Buffet’s two latest investment acquisitions. The billionaire’s investments do not always catch our attention, but this time it is different. Mr. Buffet seems concerned about the dollar’s weakness. He may also be worried about U.S. stock market valuations, which are at historic highs compared to those of some foreign stock markets.

“Creative destruction” is a term that often surfaces during an economic crisis.

Stock markets don’t like uncertainty; last week the coronavirus COVID-19 outbreak and pandemic fears provided just that.

It used to be that re-inventing yourself in midlife was a rare and remarkable feat: Think Julia Child, who worked in advertising and media before writing her first cookbook at age 50.

A study commissioned by Towneley Capital Management and conducted by Professor H. Nejat Seyhun, University of Michigan for 1926-1993.

A study commissioned by Towneley Capital Management and conducted by Professor H. Nejat Seyhun, University of Michigan for 1926-2004.