With stocks and fixed income both in the red this year, we continue to remind people that “there is always a bull market somewhere”, making the case for a diversified portfolio.  2022 to date has certainly tested the resolve of investors, the classic 60-40 stocks to bonds allocation model is suffering its worst performance since the Great Depression, currently down about 18%.  We have had some re-assuring good news in several stocks that many of our clients own (full disclosure).  For example, a huge spike in energy costs has lifted Chevron up 56% year to date.  In the arena of health and bio-tech, Regeneron just recently had the first FDA approval for an eczema treatment (Dupixent)for adults.  The stock is up 17%  this year.  With the attention and funding going into infrastructure projects, combined with high crop prices, John Deere has managed a 15% increase this year.  Finally, as the Fed combats inflation with higher interest rates, regional bank NBT is up close to 24%.  The point is, stocks move with the market in both bull and bear markets, but having a diversified portfolio with investments that don’t always correlate with these moves can help mitigate the risks.

Performance data as of 11/4/2022. Past Performance is no guarantee of future results.