What’s $1 Million Worth?
There’s a concept in economics called the marginal utility of money. It’s a fancy term but the idea is straightforward: each additional dollar delivers a little less impact than the one before it. The first million often changes your life. The fifth gives you more options. By the tenth or twentieth, the incremental gains matter […]
On Gold
Over the years, we’ve maintained a modest gold allocation in some client portfolios. It was never a “gold is the future” thesis. It was closer to an insurance policy: a recognition that markets and policymakers are human, and that confidence can swing faster than fundamentals. We’re reducing that gold exposure now and want to explain […]
Q4 2025
Dear Clients & Friends,We are happy to share with you an update from Sage Rhino Capital LLC for the first quarter of 2026. Markets 2025 was another strong year for patient investors, ending with a familiar headline: stocks up, again. The S&P 500 finished the year up 17.88%, capping three straight years of double-digit gains, […]
Q3 2025
Markets The third quarter of 2025 was excellent across the board as markets continued to build on strong positive momentum from the previous quarter. The S&P 500 increased by 8.12%1 in Q3, bringing the year-to-date return to 14.83%.1 Smaller domestic companies also performed well, with the S&P 400 MidCap and the S&P 600 SmallCap climbing […]
Q2 2025
Markets The second quarter of 2025 brought investors much-needed relief. After a rough start to the year – marked most notably by the tariff noise, equities rebounded with force. The S&P 500 rose 10.94% in Q2, erasing earlier losses and closing the first half up 6.2%.1 Smaller domestic companies have also performed well with the […]
Q1 2025
Markets We are off to a rough start. In a sharp reversal from last year, the first few months of this year saw domestic equities sell off aggressively with tech stocks leading the way down. The S&P 500 lost 4.27% through March 31st, with the S&P 400 MidCap and the S&P 600 SmallCap also tumbling […]
Q4 2024
Markets Despite a jittery December, 2024 was another year for the record books. Building on the momentum of an exceptionally strong 2023, this past year delivered broad gains for equities but especially so for large cap US stocks. The S&P 500 rose 25.02% in 2024, with the S&P 400 MidCap and the S&P 600 SmallCap […]