Market Analysis

It appears to be full steam ahead for the markets as more and more sectors are joining the party.  We believe the most powerful move of this bull market is upon us and may last much more than the average investor thinks.  As we move forward in time, a rise in volatility can be expected as investors on the sidelines since the pandemic bear market are slowly lured back in by a fear of missing out on handsome gains.  “Buying the dips” will likely come into vogue.

The old saying “hindsight is 20/20” is only true if you bother to look back.  Bringing back the analogy of the Magic Eye art pieces that were popular in the nineties, sometimes it takes many look backs to see the true picture.  We have mentioned that all bull markets (as well as bear markets) have corrections (or declines) that bring temporary joy (or fear) and sometimes panic to move the pendulum of human emotion back in check.  The longer the bull run, the longer (or steeper) the next decline will be.  So, we were looking for the correction to the bull run that began in 2009 to end in a typical fashion with VIX (volatility index) to spike upwards like it always does during major lows. The low in October 2022 did not produce this result.  So, given all the background indicators since then and now, the weight of the evidence points that the pandemic low of February 2020 was this moment.  If this is the case, we are entering the most powerful bull run since the nineties.  So, hang on and enjoy the ride, albeit it can still be rocky from time to time.

April 1, 2024, marks 25 years Gary has been with Marin Group.  As portfolio manager, he saw the NASDAQ Composite double in his first year then decline by 78% the next two years.  It was truly a trial by fire.  We are excited about the position we find ourselves in today and intend on participating fully in what we think will be exciting times.

Gary and Dianne

This report is provided as a general market overview and should not be considered investment or tax advice or predictive of any future market performance.

Any security mentioned in this report may not be suitable for all investors. No investment mentioned in this newsletter constitutes a recommendation to buy, sell or hold a particular investment. Such recommendations can only be made on an individual basis after an assessment of an individual investor’s risk tolerance and personal circumstances. Past performance of any investment mentioned is not a guarantee of future performance. Statements regarding the investment concerns and merits of any company and fair market value computations are strictly the opinion of Marin Group. Employees of Marin Group and Marin Group clients may have positions and effect transactions in the securities of the issuers mentioned herein.