The Importance of Earnings Power Amidst Changing Market Expectations

Against the backdrop of low expectations, 2023 helped wash away the sour taste of 2022. The S&P 500® index returned more than 26 percent and all major indices posted handsome advances.

Strong Portfolio Companies in the Face of Economic Challenges

Both September and the third quarter have well-earned reputations for being the most challenging periods of the calendar year for investors, and both continued that trend in the third quarter of 2023 as all major equity indices posted losses.