Dear Friends,

With recent headlines surrounding tariffs, government changes, and market volatility, it’s natural to feel a sense of uncertainty about the road ahead. While current economic conditions may seem concerning, it’s important to remember that markets have weathered countless challenges throughout history — and rewarded disciplined investors who maintain a long-term perspective.

Former Capital Group executive Graham Holloway said – “In my 25 years in the investing business, I have never known a good time to invest. There are always a dozen reasons why it makes sense to wait. We have a new president, strife in the Middle East, excessive government regulation, oppressive tax rates, and a Congress that is more part of the problem than the solution.”

Although that may sound like a reflection of the current environment, Holloway’s quote is from 1981. It’s a reminder to all of us that our world constantly faces difficulties on local and global scales, and there are always people who continue working for positive solutions that improve life.

We are monitoring the latest developments on trade tariffs, proposed tax changes, and global market trends. These factors can influence short-term volatility, but our investment philosophy is rooted in long-term fundamentals rather than reacting to temporary headlines. We will continue diversifying the investments across sectors, industries, and geographies for the accounts we manage. This season has reinforced the wisdom of diversification, as while most U.S. stocks are now showing negative returns year to date, our international stock holdings and bond holdings have done quite well. We will also continue to rebalance the portfolios as prices change to buy when prices are low and sell when prices are high.

As always, feel free to reach out if you have any specific questions or if we can help you in this season. 

Thank you for allowing us to partner with you on your journey!

The IFS Team