We’re not far into 2018 and we’re already off to one of the best stock market starts we’ve seen in over 30 years of managing portfolios! Last year Sloy, Dahl & Holst exceed benchmarks and post excellent returns. We expect great things from 2018 as well!Read More
What can investors expect from 2018 in terms of technology? Paul Meeks talks with Brian Sullivan of Trading Nation on his technology stock predictions, including his thoughts on bitcoin and the future of blockchain.Read More
The stock market continues to reach record highs. At Sloy, Dahl & Holst in Portland, OR, it’s been year we won’t forget. Read our 2017 December market recap and which markets we’re focusing on in 2018.Read More
Ron Sloy in Portland, Oregon gives a 2017 stock market update and outlines what we can expect to see during the last quarter of the year.Read More
The 3rd quarter of the year saw a very healthy stock market. Keep reading for a recap of the market from Sloy, Dahl & Holst and what to expect next.Read More
Will the S&P 500 reach 2,500 soon? Tim Lesko and Paul Meeks, CIO of Sloy, Dahl & Holst discuss their thoughts on this subject on CNBC.Read More
The S&P 500 has been down for two weeks in a row. The Dow had two triple digit down days last month. What does this mean for tech stock?Read More
As we head into the third quarter of the year, the financial market is surging. Here's a look at what to expect from the market n the coming months.Read More
Ron Sloy was proud to accept the award for Affiliate of the Year from the Northwest Utility Contractors Association (NWUCA). During the award presentation, a NWUCA representative highlighted their reasons for selecting Ron as the recipient of this year’s award.
The presenter introduced the audience to Ron, noting how he is a certified financial planner and founding planner of Sloy, Dahl & Holst. He highlighted the firm’s history, noting how they were based in Seattle and have been in business since 1986. He also noted that Sloy, Dahl & Holst also has an office in both Seattle and Sacramento.
Ron and his firm were then highlighted as having been profiled in Forbes and quoted in Fortune, Money, and Bloomberg magazines. The presenter also congratulated the firm on being named one of the top 300 investment advisors in the US by the Financial Times of London.
Sloy, Dahl & Holst’s new Chief Investment Officer was also highlighted during the presentation. Paul Meeks was noted as a celebrated contributor on CNBC as well as a member of their platinum portfolio managers.
As an investment advisor with the NWUCA corporate account, Ron was highlighted as a trusted guardian and grower of the account. Ron’s avid support for the organization, combined with all these things outlined above, led NWUCA to select him as the 2017 Affiliate of the Year.
Paul Meeks is the most recent addition to Sloy, Dahl & Holst and has brought to our firm a wealth of experience in technology stocks. Paul recently appeared on CNBC’s Fast Money Halftime Report to discuss his thoughts on purchasing stock in cloud-related companies.
When it comes to this unique type of technology stock, Paul’s methodology is to wait until the stock dips before buying. But what do you need to know about this stock before that point? Which companies are worth investing in and how does valuation factor into your decision to buy?
According to Paul, Amazon Web Services is the company that’s doing cloud services the best. The gap between Amazon and its competitors is fairly large, and this delta is forecasted to remain quite large. Even so, there is the possibility of a rise in momentum from other cloud-related businesses--particularly Microsoft Azure.
Paul recommends that tech investors keep Microsoft Azure on their radar and watch for a change in profitability. A price/earnings to growth ratio may be the best way to determine valuation for Microsoft Azure and other cloud businesses. Paul also advises investors to look at a company’s growth and position in relation to its total available market. These tend to be smart methods for sizing up these cloud-related businesses and determining whether or not investing is a good idea.
To conclude the segment, Paul gives a word of caution to current Amazon business stockholders: be ready to cut back. Amazon will soon become a four-figure stock and those who have the stock heavily weighted in their portfolio may want to do some readjusting.
‘Trump Trade’ is in full effect with domestic equities continuing their post election run on the hope and expectation of a more business-friendly environment.The continuation of the current equity market run can be pinned down to the possibilities of tax reform, a rollback of the current heightened regulatory environment, and meaningful infrastructure spending. Though as observed on the past few weeks, none of the current administration’s agenda will be accomplished overnight. There is no guarantee that the administration’s agenda will come to fruition, and this has put a damper on the markets. While Trump Trade has been stalling, we are going to soon hit earnings season, which is always the most valuable data for stocks.
Below are returns of 5 major indexes through the first quarter:
BarCap US Agg Bond +0.82%
S&P 500 +6.07%
Russell 2000 +2.47%
MSCI EAFE (Europe) +7.25%
MSCI EM (Emerging Markets)+11.45%
We are forecasting to see a solid earnings season going forward, with even stronger support for the stock market coming from corporate guidance that will be full of optimism. While many investors are nervous due to all time highs of the current market, we are confident going forward.
SDH, Inc. has had major themes with our allocations over the last four years: protect against a rising-rate environment, Financials and Energy have upside potential, and the long-term value for investors within international markets rather than domestically. Those who have been patient are beginning to see all of these themes turn together.
In the last seven years, the S&P 500 has been the best performing index by a significant amount. It is important to remember though, that this has been on the heels of a decade when the S&P was actually negative year over year. Reversion to the mean is real, as investment cycles can take a significant amount of time to play out. As many investors continue to chase the S&P and further push the theme of Passive/Index investing, we will act as a contrarian. The overblown move into Passive investing will ultimately bode well for active management and the allocations of our portfolios.
We at SDH, Inc. thank you for your continued confidence and support. As always, please feel free to contact us directly if there are any questions we can answer.
Portland, OR – Sloy, Dahl and Holst is excited to announce that Paul Meeks has joined the firm, bringing an abundance of experience to our Investment Selection Committee. Paul has been an Equity Analyst and Portfolio Manager since 1987 and for more than 20 years has represented considerable authority in tech stocks. While working with Merrill Lynch Investment Managers, he grew the world's biggest tech mutual fund franchise, incorporating six portfolios with about $8 billion in resources. He is among CNBC's ten "Platinum Portfolio Managers" and has been highlighted on air and in print since 1995.
Paul has a BA from Williams College and a MM (MBA) from Kellogg, where he focused his learning on finance and financial accounting. He has been a Chartered Financial Analyst (CFA) since 1996. Meeks has instructed at three colleges since 2005, and on top of his work for Sloy, Dahl and Holst, Inc. he holds a position as adjunct finance faculty at Western Washington University. His enthusiasm for instruction additionally reaches out past the classroom. Paul and his wife Mary focus their charitable giving at Bellingham Technical College. Mr. Meeks will play a key part in the advancement and execution of two proprietary portfolios committed to investigating opportunities in Technology and Core sectors. Ron Sloy, Sr. accomplice is quoted: "I'm eager to offer our customers access to an analyst and manager with Paul’s skill. He's the genuine article. I anticipate that he will assume a pivotal part in the continued growth and accomplishment of Sloy, Dahl and Holst."
About Sloy, Dahl and Holst, Inc. Sloy, Dahl and Holst, Inc. is a registered, full-service financial advisory firm focused on Retirement Services and a commitment to their customers' monetary accomplishment. As a boutique investment firm, they have the distinction of being one of the first fee only firms in Oregon. For two years the have been recognized in the Financial Times Top 300 RIA firms.
The most accurate assessment of Q3 2016 is that it was interesting. While positive overall, we saw the markets trade on the most important thing: earnings. Earning predictions were low—too low in fact. A majority beat the expected low metric set and we saw a net rising stock market. Using the following explanation, it makes sense: companies increase in value as they do well, and gains are made on their limited equity shares. This connection has been lost as we’ve been wading through some less fortunate news the past few years.
With all of this being said, we can’t guarantee a stable road closing out the year. A few situations have arisen that account for this analysis: inadequate global growth, uncertainty about the Federal Reserve’s next steps, and an incredibly volatile and strange presidential cycle. We’re left with only one assured outcome: a new president.
Listed below are returns of five major indexes, through the third quarter;
BarCap US Agg Bond -- 5.80%
S&P 500 -- 7.84%
Russell 2000 -- 11.46%
MSCI EAFE (Europe) -- 1.73%
MSCI EM (Emerging Markets) -- 16.02%
Looking at our five portfolios in Q3, we can see that they outperformed, with Technology, Emerging Markets, and domestic Small Cap leading the charge. Our Energy allocations also did well, but remains an area that will possibly be reduced as oil reaches a $55/barrel price. We’re keeping an eye on High Yield fixed income for largely the same reason: it’s an opportunity to cash in on returns and look for greater value. In addition, Apple is back on track in individual positions, as it rose 19% within the S&P 500 in the third quarter.
Closing out the year, it’s fair to assume there will be some volatility, mostly caused by the uncertainty surrounding Brexit and the presidential election that is coming to a close. Aside from these factors, we anticipate a solid quarter with good stock returns. Our favor is instilled in our Tech, Emerging Markets, Small Cap stocks and Energy positions. We predict Financial positions to benefit greatly and start to outperform as interest rates begin to rise. This also means we’ll look into staying away from areas impacted by interest rates such as bonds, Utilities and Real Estate Investment Trusts (REITs).
Your trust in us and support for our company is immensely appreciated. Contact us directly and without hesitation if we can help you in any way.
On Monday August 1st, The Sloy, Dahl & Holst, Inc. offices were closed for their annual golf tournament in celebration of their clients, outstanding team and another successful year topped off by their second sequential mention on the Financial Times Top 300 Registered investment Advisory Firms.
Assisting Sloy, Dahl & Holst, Inc. celebrate on this special day was, Heather Lemaster, a World Long Drive Champion with several domestic and international wins, and Holly Sonders, a well-known collegiate golfer and on air talent for FOX Sports.
This year’s event could be found within the beautiful Columbia Edgewater Country Club, where food and drink was provided by Morton's Steakhouse and Eastside Distilling. In addition to the delicious refreshments was music from from award-winning singer and Las Vegas' "Entertainer of the Year" Jimmy Hopper and successful businessman and Rock bassist Bernt Bodal.
On Saturday, June 4, 2016, Steve Ford was introduced by Ron Sloy at the Convention of the Northwest Utility Contractor’s Association in Sunriver, Oregon. Steve is the child of former President Gerald R. Ford and Betty Ford, whom Ron had a previous encounter with by a stroke of luck numerous years back in Palm Desert, California. Ron rendered this experience into an engaging introduction.
Steve was chosen as the speaker based on his one-of-a-kind experience as the former President’s son. At the age of 18-years-old, Steve was constantly surrounded by ten Secret Service agents. He experienced his father’s pardon of President Nixon putting to rest the shocking Watergate scandal. He endured multiple assassination attempts on his father’s life, as well as his mother’s struggles, both with alcoholism and breast cancer.
The Dow Jones and S&P 500 fell 11% at the start of this year and ascended all the way back to positive territory by the end of March. This is astounding—it’s the greatest quarterly comeback for US stocks since 1933. In fact, in a period of six months, this was the second pullback of >10%, which understandably weight heavily on investor confidence. It felt as though the markets were about to spiral out of control. And then, suddenly, we bounced right off the bottom set last August and have steadily climbed higher. There’s one main lesson to be learned from this: you can’t time the markets.
On February 11th of this year, for example, the markets bottomed out. The Dow closed at 15,660. Coincidentally, a mere two days before, during his monthly Market Update video, Ron Sloy counseled investors to remain calm and set their sights on long term goals. From there to the end of the quarter, the benchmark rose to even higher than where it started in the year: 13% upwards, closing at 17.685.
Here are the five major indexes, and their 2016 Q1 returns, below:
BarCap US Agg Bond +3.03%
S&P 500 +1.35%
Russell 2000 -1.52%
MSCI EAFE (Europe) -3.01%
MSCI EM (Emerging Markets) +5.71%
Remarkably, these indexes barely reflect just how volatile the markets were this quarter. The most prominent index here is the Barclays US Aggregate Bond. This index has somehow yielded a quarterly return greater than 3% for less than 15% of the time—even though interest rates have been declining steadily, even historically. Naturally, this return was bolstered by the erratic nature of the stock market. Now that we are passing this first quarter, it is highly unlikely for this trend to continue.
We were disappointed in Financials, Technology, and Europe this first quarter, but there is fantastic potential for all three. Definitely be on the lookout to gain participation from these allocations as we continue throughout the year. On an even better note, we have a positive indication in our portfolios as we build a slightly overweight position for the Energy sector this quarter. There’s also good value to be found in the Emerging Markets; we have noted good leadership there. In summary, we believe the markets have been set at a bottom this year—in fact, equity portfolios may soon see returns in the double digits. There will, per usual, be volatility in the markets. Those who are able to stay focused, patient, and calm will be rewarded.
It’s important for investors to chose asset allocations that match their time horizon and risk tolerance. Because, regardless of performance numbers, or interest rates, or investment themes, the most important lesson remains: you cannot time the markets. It’s understandably easy to get fidgety during the bad times—but stick to the long term goals, regardless of good or bad.
Your confidence and support is incredibly important to us. Thank you. Please contact us directly, always, if we can help you in any way.
Stoy, Dahl & Holst, Inc.
The previous year was nearly flat, uneventful, and very similar to 2011, The S&P 500 was basically flat, finishing approximately 0.75% below where it began in 2015 (+1.38% total return, including dividends). While there were certainly a few areas of growth throughout the year, there were many areas of the global markets that failed to improve. Among the best performing sectors, were Consumer Discretionary, Health Care and Technology; all finishing positive. Other sectors such as Financials, Utilities and Materials were negative for the year. The Energy sector performed the worst, finishing negative more than 23%, as oil prices per barrel slid to the low $30’s.
With extreme volatility in the third and fourth quarters, for investors this year was challenging. If you utilize a diversified portfolio and pursued value, you did not finish in positive territory in 2015. Too many sectors of the global markets performed negatively. In our opinion; many of those investment opportunities, however, have simply yet to see their expected returns. We experienced same scenario leading into 2012 and those who remained patient were rewarded.
Listed below are year-end returns for five major indexes;
BarCap US Agg Bond + 0.55%
S&P 500 + 1.38%
Russell 2000 - 4.41%
MSCI EAFE (Europe) - 0.81%
MSCI EM (Emerging Markets) - 14.92%
We believe there are obvious opportunities within Financials, Technology, Energy, Health, Europe and the Emerging Markets being revealed. Additionally, we believe it’s very likely that continued patience will be required to have a profitable year in 2016. It is important to remember good investment opportunities are rarely realized immediately, even if we seek more immediate returns.
The S&P 500 has lead the global markets for six years. While it trailed other major global indices halfway through 2015, it again regained its place at the top once volatility in China increased. We will almost always have the majority of our equity positions within domestic investments.. However, we’re looking for new leadership from international markets in the future. Keep in mind; the S&P 500 was negative for a decade, from 2000 – 2010. Global diversification is essential over the long-term.
As always, please feel free to contact us if there’s anything we can do to help.
Sloy, Dahl & Holst, Inc.
An analysis on the current market conditions by Ron Sloy, CFP of Sloy, Dahl & Holst, Inc. located in Portland, Oregon. November was a return to stability in the markets. As you may remember, in October I mentioned that the financial markets had bottomed and it would be a great time to invest. Since that time, the Dow has risen almost 2,500 points. We believe the market will continue to improve in December and we also expect a Santa Claus rally. Many believe the Santa Claus rally is a result of people buying stocks in anticipation of the rise in markets during the month of January, otherwise known as the January effect.
(PORTLAND, ORE.) -A magnificent new holiday light fixture is being dedicated to the late Trail Blaze Jerome Kersey, who passed February of this year. Illuminating 3,800 lights bulbs, the grand Christmas Decoration titled "JK25 Santa Hat" will be presented from a West Hills Home, and should be visible from downtown and southeast Portland. The light fixture is in the final phases of being installed and will light up for the first time on this Friday, November 13th.
This project was thought up by Ron Sloy who was a close friend to Kersey for over 30 years, Sloy wanted to honor his dear friend in a special way. “Jerome was an incredible man both on and off the basketball court,” says Sloy. “Not only was he an impact player for the Blazers, he was also extremely engaged in his community, always reaching out to enrich the lives of others.”
Kersey was a major contributor to numerous youth groups and could always be found after Blazers stockpiling food for the homeless in the community.
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Since the passing of Kersey there have been talks among the Blazer community about retiring the number 25, in recognition of his outstanding performance with the Blazers. He held records in many categories such as games and minutes played, steals, field goals, assists, rebounding, scoring, blocked shots. According to well-known Blazer announcer, Bill Schonely, Kersey was a talented player who left a great impression on all that had a chance to meet him.Says Schonely, “Jerome was loved by everyone. This unique display will allow Portlanders to celebrate his legacy.”
Setting up the gigantic holiday fixture was a process that required planning and attention to detail. The 32' feet high, 34' wide fixture features a giant "JK25" Santa hat illuminating 3,800 lights set on an aluminum frame mounted on a home in West Hills. The fixture was designed by Hanset Stainless, it took approximately six weeks to build and 7 days to install. “This truly was a unique and challenging project,” says Shane Crunchie, project manager for Hanset Stainless. “Our whole team was excited to be a part of such a special project to honor a great member of the Portland community.”
Crunchie speculates that the JK25 Santa hat will be an important Christmas fixture in Portland for future holidays to come.
Sloy stated that the Christmas Fixture will be raised every holiday season in memory of Kersey. “I hope that Portlanders will join me in recognizing all that Jerome did for the Blazers and for our community,” he says. “Jerome’s number will be hanging high in our night sky for all to see. I hope it will also be hanging from the rafters before too long.”
Fans are encouraged to engage in the conversation around retiring Kersey’s jersey number by Tweeting #JK25, #retirejerseyJK25
The recent third quarter of 2015 was the worst performing three months for the markets in the last four years. From peak to the trough the S&P 500 dropped more than 11%, the first drop greater than 10% since 2011. While market volatility is unnerving, rest assured that corrections are natural occurrences during a healthy market.
Here are the returns for five major indices through September 30th:
BarCap US Agg Bond + 1.13%
S&P 500 – 5.29%
Russell 2000 – 7.73%
MSCI EAFE (Europe) – 5.28%
MSCI EM (Emerging Markets) – 15.47%
Volatility in Q3 was driven primarily by two events; fear of global contractions (especially in China), and uncertainty of the Federal Reserve’s rate hike decision. However, we believe the recent pullback as a pause in the continuing bull market and that in 2016 the DOW will eclipse 20,000.
Third quarter corporate earnings forecast have been lowered so extensively that we expect upside revisions and surprises. The U.S. market is performing better than people think, the European market is outperforming, and the Emerging Markets (especially China) continue to outpace the developed markets. The housing sector and auto sector remain strong and we are seeing stabilization in energy. We think a rate hike in December is still coming, and this will be positive for the financial markets. We continue to like the following sectors: Financials, Energy, Health, Technology, Europe and the Emerging Markets.
October has lead performance with a nice bounce, but we predict that volatility may continue. By years-end, however, we expect the markets will produce positive gains.
We want to be the first to wish an wonderful, magical, and healthy holiday season for you and your family.
As always, please feel free to contact us with any questions or concerns.
Sloy, Dahl & Holst, Inc.