3rd Quarter 2022 Market Commentary

The quarter began with an 11% gain for the S&P 500, but the rally quickly faded, leaving stock and bond markets to plumb new lows in September. While commodity prices declined this quarter, lagging effects in housing and other components of core CPI continued to advance.

There are two times in a man’s life when he should not speculate: when he can’t afford it, and when he can. – Mark Twain

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