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We are pleased to present you with our second quarter market review. The second quarter of 2024 was marked by gains in the majority of the markets. The bond market has nearly recovered from its decline in 2022. The US stock market was up more than 3% for the quarter. There has been a lot of talk in the financial news about the gains in the market being driven by just a few US stocks however, interestingly in the second quarter Emerging Markets outperformed the US market with gains of 5% (this was highlighted less so in the financial news). This serves as yet another reminder that you never know which sector, industry, or part of the world is going to take the cake, and therefore it just makes sense to have exposure to all parts of the market so you can take advantage of opportunities as they arise.

When we’re putting together these reviews we always like to take a moment to zoom out to the long-term view. On page 4 you can see how nearly all of the arrows are pointing up when looking at the 1-year, 5-year, and 10-year returns. It’s remarkable how a good plan and discipline pay off (literally!)

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