ACM Commentary 3Q 2015

Download PDF MARKET SUMMARY As we have discussed over the past couple of quarters, overall frothiness in the markets continued to reveal itself in the 3rd quarter, with the S&P 500 pulling back -6.4%. The combination of slowing domestic and global growth, a strong...

ACM Commentary 1Q 2015

Download PDF MARKET SUMMARY Strong performance in February was able to offset losses in January and March, enabling the market to continue its march higher in the first quarter. The S&P 500 managed a 1% return in the quarter, marking its ninth consecutive positive...

ACM Commentary 4Q 2014

Download PDF The markets did very well in 2014 after an even better 2013. While we made money for our clients, we underperformed the broader equity market primarily because of our smaller company bias, large cash holdings and underperformance from some of our...

ACM Commentary 3Q 2014

Download PDF MARKET SUMMARY The S&P 500 churned slightly higher in the 3rd quarter (+1.1%), resulting in year to date performance of +8.3% through September 30th. Our equity accounts were down -1.2% in the 3Q, and are up roughly 1.6%, net of fees, for the year....

ACM Commentary 2Q 2014

Download PDF The markets continued their run in the first half of this year after a very strong 2013. Our equity accounts are up roughly 2.7%, net of fees, for the year. Since inception in 2010 our investments have cumulatively grown 120% (19.2% annualized, net of...