Dear GCI Clients, We are excited to share that GCI Investors will be merging with Brasada Capital Management, based in Houston. This merger marks a significant milestone, as we can now bring enhanced services and resources such as full financial planning and customized bond portfolios to you, all at no additional cost. We look forward...
The market experienced a sharp sell-off over the past two months as yields on the 10-year treasury continued to rise towards 5% and the possibility of an expanding geopolitical conflict in the Middle East began to be priced in. Note that when we refer to the market, we are typically referring to the S&P 500...
U-Haul (UHAL) is one of those rare class-defining brands, like a Google, Kleenex, Band-aid, etc., where even the competition is often referred to as “renting a U-Haul.” This brand recognition stems from the fact that UHAL basically built the do-it-yourself (DIY) moving market from scratch back in 1945 and subsequently over decades of aggressively signing...
Dear Partners, The third quarter of 2023 saw a return of volatility in equity markets as the 10-year treasury yield spiked to levels not seen in more than 15 years. Against this backdrop, our GCI Select Equity strategy gave back some performance, however, our year-to-date numbers continue to be strong on an absolute basis while...
Dear Partners, After significant volatility to begin the year, the second quarter of 2023 saw a much steadier move higher in equity markets. Against this backdrop, our GCI Select Equity strategy produced solid absolute returns and modest relative performance. Individual account performance may differ based on asset mix, fees, and timing of investments. The move higher in...
Dear Partners, Markets continued to experience significant volatility in the first quarter of 2023. Inflation worries, recession risks, and the first bank failure in over 15 years all contributed to more underlying equity weakness than apparent in the headline numbers. Indices were largely held up in the quarter by significant outperformance in Mega-cap Technology –...
I am sure you have seen the news regarding the failure of Silicon Valley Bank (SVB). SVB has been the victim of an old-fashioned bank run (driven in part by the impact of rapidly rising interest rates, and in part by a non-sticky deposit base tied to the Silicon Valley boom and bust cycle)....
Dear Partners, This past year has been one of the worst for asset markets in over a decade and our core GCI Select Equity strategy was no exception – posting disappointing results. As you know, GCI was founded on the principle that investing in high-quality companies at attractive prices is the most durable and consistent way...
Dear Partners, Our performance in the third quarter of 2022 was disappointing. Our GCI Select Equity composite ended the quarter down 32.66% YTD gross of fees, trailing the broader market. This is a significant drawdown in isolation, but also not entirely unsurprising to have some weakness after almost a decade of very strong returns. Individual account...
Stocks fell sharply this past Tuesday with the S&P 500 ending the day down 4.32%. But even with that significant fall, the S&P 500 was still slightly up over the previous week. It is safe to say that markets have been volatile in a whipsaw fashion during 2022. As of writing, the S&P 500 is...
