Perpetually Looking Forward

In a final sprint to the end of the year, the S&P 500 climbed out of its 2022 hole, returning about 26% to close out 2023. This was an impressive return, in the face of an additional 100 basis point rise in interest rates to 5.5% this past year, and a plethora of other events that could have taken the market in a more negative direction: regional bank failures that required a Fed bail-out, a potential government default, further escalation of international conflicts, and generally weaker economies in Europe and China. It has been another demonstration of American exceptionalism this year.

As the year draws to a close, we’d like to take a moment to reflect on the year in review. 2023 was an eventful year spent focused on investment management, advising clients, and growing our firm. We’d also like to take this time to express our gratitude to our clients for their continued trust in Simon Quick. In this article, you’ll find highlights and news from this year.

Simon Quick Advisors has once again secured its position among elite financial advisory firms by being named one of the Top Regional Fee-Only Registered Investment Advisors (RIAs) of 2023. This recognition, awarded by InvestmentNews, acknowledges Simon Quick as a standout player in the financial industry, emphasizing the firm's commitment to providing exceptional service and client-centric financial solutions.

Private aviation has become both a symbol of luxury as well as a practical choice for those seeking a personalized travel experience. As challenges in commercial transportation continue to cause frustration among first-class passengers, an increasing number of consumers are considering private flying as an alternative. The countless options, convenience, and flexibility of a private jet provide passengers with a level of comfort unmatched by commercial flying.

After a period of positive performance for financial markets through the first half of 2023, both equities and traditional fixed income experienced a modest quarter of negative performance in Q3. The S&P 500 declined over 3.2% while the Bloomberg Barclays Agg Bond index similarly detracted 3.2% during Q3. The bulk of this weakness occurred during September as rapidly increasing treasury yields sent bond prices lower and spooked equity markets. 

There is a large and growing ecosystem of secondaries transactions in private markets. Secondaries transactions are the engine that drives capital market activity. For example, most people are familiar with buying stocks on a public exchange whereby they buy them from a previous owner. Buyers and sellers meet to establish a price where both parties are satisfied with the exchange and allow for money to flow across governments, banks, institutions, and individuals. These transactions are efficient, transparent, and straightforward.

9/19/2023 – Simon Quick Advisors is proud to announce its inclusion on the Barron’s 2023 Top 100 RIA Firms list. With a strong track record of growth, they now stand among the leading independent advisory firms in the nation.

The last time interest rates (as measured by the Fed Funds Effective Rate) broke above 5% was in the second half of 2006, when Chairmen Greenspan and Bernanke tried to cool the white-hot housing market and stem the flow of easy credit amidst the leveraged buy-out boom. It took the Fed about two years to move rates up 4 percent, but stocks took these hikes in stride, generating positive returns during that period.