The US stock market staged a powerful recovery in the first two months of 2019. This upturn followed promptly on the heels of the Christmas Eve massacre at the end of 2018. We’ve written about the causes of that massacre and can share the discussion with anyone who missed it. Just email me for a copy of the discussion.
Cumberland’s US ETF managed accounts were nearly fully invested at yearend. That position was sustained through the first two months of 2019 as the market recovered robustly. At the end of February, we started to realign portfolios and raise some cash reserves. That process has continued into March.
Weekly commentary on the market is available on Cumberland Advisors’ YouTube channel and usually includes Matt McAleer’s weekly summary. Email me if you want to be added to the weekly Cumberland Advisors YouTube channel list.
We are also pleased to be sending our new reporting format to clients and their referring consultants. We hope you find these reports comprehensive and valuable.
As March unfolds, we expect the US stock market to show bouts of increased volatility. We expect that to continue throughout all of 2019. The list of uncertainties includes Fed policy, foreign central banks, and the question of trade war or trade peace. Geopolitical issues rank high was on the list, specifically in Latin America, where developments in our hemisphere impact us directly.
David R. Kotok
Chairman of the Board & Chief Investment Officer
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