Chad Smith, the founder & principal of Smith Capital, writes periodic commentaries to keep clients informed of our economic and investment outlook, along with updates on portfolio strategies and allocations. Each commentary can be viewed below or downloaded in PDF format. We invite you to leave a reply or a comment, which can be accessed at the end of each commentary.
Greetings Clients & Friends, I wanted to provide a quick update on the recent action in global markets, current events, and the associated effects on Smith Capital client portfolios. Yesterday, on the heels of intensifying unrest across the middle east over the weekend, and with Monday being a market holiday, Tuesday arrived with a bang. [...] Read more…
Greetings Clients & Friends, As a follow up to my last published commentary from a couple weeks ago I am excited to announce that our son Samuel Zachary Smith was born on 2/2/11, last Wednesday!! We are calling him Zachary, and he weighed into the ring at 10 lbs and 22 inches long!!! My wife[...] Read more…
Greetings Clients & Friends, Being a true contrarian investor can be a difficult thing. First, it typically puts you in an isolated place, with not much like-minded company. Second, one of the risks is being early in positioning for market turning points ahead of the herd. As most of our clients and readers are aware,[...] Read more…
Greetings Clients & Friends, May the joy of the Lord fill your hearts and minds, and may you experience peace this Christmas and holiday season. Just a quick note about the markets and how I have been positioning our clients’ portfolios. As you may recall from recent commentaries I have been growing more cautious in[...] Read more…
Greetings Clients & Friends, As a review of our recent market forecasts, at the beginning of September (when the stock market was struggling and investor sentiment was growing more negative), I stated that the markets were setting up for a strong rally over the next six months. Then, in my last commentary posted on October[...] Read more…
Greetings Clients & Friends, In my commentary from the beginning of September I suggested that the stage was being set for a significant move higher in global stocks over the next six months. This prediction ended up being quite timely and fortuitous, as global stocks have rallied strongly over the last month, which resulted in[...] Read more…
Greetings Clients & Friends, While the volatility in global capital markets continued during August, the stage is being set for a significant move higher in global stock markets over the next six months. This is my general conclusion about the direction in which the current intense tug-of-war in the stock and bond markets will get[...] Read more…
Greetings Clients & Friends, I wanted to provide a quick update regarding some tactical positioning I have been doing recently across each of the Smith Capital model portfolios. Back in the Quick Update I published near the beginning of July I discussed several reasons why I felt the stock market had gotten oversold and was[...] Read more…
Greetings Clients & Friends: As June closed out on a very weak note for global stocks, the mood among investors turned even more sour. Going into this week, on the heels of the 4th of July weekend, investor sentiment was approaching almost ubiquitous negativity. While Americans mustered the patriotism to celebrate our country’s birthday, it[...] Read more…
Greetings Clients & Friends: In our April 1st Quick Update I indicated that we had been scaling back on equity exposure in client accounts across each of the Smith Capital model portfolios due to my concern that global stock markets had gotten stretched in the short- term. At the time I was looking for a[...] Read more…