As we head into September, I wish all a wonderful Labor Day weekend.

In terms of what to expect from September markets, we continue to believe volatility will remain high. As we have allocated for this all throughout the year, no major changes are expected for the accounts we manage. Dividend and gain reinvestment will continue. Inflation is likely to remain and our equity positions have long since been in place to address that. Recession is a point that many disagree on and we want to be clear on our position.

  • We are and will continue to manage with viewpoint that another recession is upon us.
  • This period of recessionary pressures will likely continue for several months.
  • Although each recession is different, history has shown they are not to be feared but rather understood and dealt with through consistent decision making in portfolio management. We strive to do that for all we serve.

Please spend some time with the Dimensional presentation attached. It’s a very straight-forward look at markets and recessions.

Thank you,


Dimensional Perspectives: What does a century of economic cycles teach investors about investing? This exhibit examines how stocks have behaved during US economic downturns. Markets around the world have often rewarded investors even when economic activity has slowed. This is an important lesson on the forward-looking nature of markets, highlighting how current market prices reflect market participants’ collective expectations for the future. Read in digital or download printer-friendly versions.

*Material from third-parties, including Dimensional Fund Advisors (DFA), shared here should not be construed as a recommendation of that firm’s products or services. They are for educational purposes only.