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2023 Q3: Third Quarter 2023 Investment Commentary 

D.A. Davidson Day 2023 

What's New at the Owen Legacy Group - 2023 Q3 Edition  

ARTIFICIAL INTELLIGENCE (AI) CREATES WAVES OF OPPORTUNITY 

Global equities continued to rally in the second quarter, led by surging U.S. mega-cap technology and growth stocks, particularly anything related to Artificial Intelligence (AI). The S&P 500 index gained 6.6% in June and 8.7% in the second quarter, driving its year- to-date return to 16.9% overall...

Planning for the unexpected can be beneficial to your family and your financial health. Disaster gives no warning before it strikes — take the time now to prepare for an unforeseen event.

SUMMER FUN IN MONTANA - Summer is finally here and before we know it, the snow will be falling again. We thought we would give you a list of our favorite day trips in and around Bozeman to inspire you to make the most of this fleeting season.

What's New at the Owen Legacy Group - Associate Leah’s news over the last year has been filled with adventure and new things, and this quarter is no exception with one of her biggest adventures yet on the horizon...

THIRD QUARTER 2022 INVESTMENT COMMENTARY MARKET RECAP After a very difficult first half of the year, equity markets rebounded in July and August on investor hopes of an easing in inflation and a Fed pivot or pause. The reprieve was short-lived however, as stocks hit fresh lows in late September amid further aggressive central bank rate hikes and statements of further tightening to come.Global stocks (MSCI ACWI Index) fell 6.82% for the quarter and are down 25.63% for the year. The S&P 5

We are pleased to inform you of several upcoming enhancements to D.A. Davidson’s Client Access website. These include expanded enrollment for all account owners and a new Secure Document Share feature. To help us implement these changes and evolve your online experience, we will require current Client Access users to complete an enrollment update starting April 27, 2023. Through this update, you will verify your identity, confirm your eDelivery preferences, and refresh your security q

 What's New at the Owen Legacy Group2022 Q4 Edition CARRIE MCALEER, FPQP™, CWS® Senior Registered Associate Carrie, Jon and Brody had a very special Christmas this year with the arrival of Finley Mary McAleer in the early morning of December 6. Weighing 7 pounds, 1 ounce and measuring 21 inches long, she is the perfect addition to their family. Big brother, Brody, was initially unsure of this noisy newcomer, but has since warmed up to the idea of a little sister. He is no

An extremely difficult year in the financial markets ended on a down note for U.S. stocks...

Carrie, Jon and Brody had a very special Christmas this year with the arrival of Finley Mary McAleer...

Here are some of the Trends that we believe will be important to monitor in 2023 and beyond...

Dr. David Kelly is the Chief Global Strategist at J.P. Morgan Asset Management and is one of our favorite economists for a digestible economic commentary. We hope you find this article informative and clarifying.

Third Quarter 2022 Investment Commentary: After a very difficult first half of the year, equity markets rebounded in July and August on investor hopes of an easing in inflation and a Fed pivot or pause...

What's New at the Owen Legacy Group: Please help us welcome the newest addition to the Owen Legacy Group, Kaylee Simkins...

Article: The Slope of the Inflation Slide, by David Kelly, Chief Global Strategist at J.P. Morgan Asset Management

What's New at the Owen Legacy Group: Summer has finally arrived, and the McAleer clan couldn’t be more excited...

Budgeting for Inflation: Where to Cut Back. Now is time to take a hard look at your budget...

What's New at the Owen Legacy Group: With such a mild winter in the valley this year, Leah spent much of her outdoor time hiking instead of snowboarding...

Fourth Quarter 2021 Investment Commentary: It’s been another remarkable year for the S&P 500 Index, with the index of large-cap U.S. stocks returning a stunning 28.7%...

What's New at the Owen Legacy Group: 2021 found the Owen Legacy Group in the wonderful predicament of growing faster than we anticipated...

Market Trends to Watch in 2022: Our analysts at Davidson Investment Advisors put together a list of meaningful trends to watch in the coming year. These are big picture trends, not stock ideas, that give us all something to think about for 2022.

OLG | Who Does What? As our team grows, we realize that it can be hard to know who on the team is best suited to help you with what question...

Holidays at the OLG: The Owen Legacy Group and the Bozeman branch of D.A. Davidson donated over $5,100 to Operation Holiday...

Will Global Supply Chain Woes Spread to the North Pole? While optimism remains high for a strong 2021 holiday shopping season, Santa’s elves are worried about persistent production and transportation bottlenecks that could limit the availability of gifts under the tree this year...

Third Quarter Investment Commentary: A September slump put a pause on the global equity bull market. The S&P 500 Index dropped 4.7% for the month, developed international equities (MSCI EAFE Index) fell 2.9%, and emerging-market (EM) stocks (MSCI EM Index) dropped 4.0%...

What's New at the Owen Legacy Group: Anne and her family are in back-to-school mode, the sports of summer are winding down, and the golf clubs and swim suits are put away and traded out for snow suits, soccer cleats and hunting gear...

Second Quarter 2021 Investment Commentary: Equities around the globe continued to surge in the second quarter. The U.S. and developed international markets led the way, with the S&P 500 Index gaining 8.5% and developed international stocks rising 5.7%. Emerging market stocks trailed in terms of progress on the COVID-19 front and in turn rose by a more modest 4.9%

Cryptos are Booming (and Busting, and Booming, and Busting): Our team at Davidson Investment Advisors has long followed the progress, adoption, and potential use cases for cryptocurrency — both because of its potential to impact the businesses in which we invest, and because it is a rapidly-evolving and interesting corner of financial markets...

What's New at the Owen Legacy Group: The Owen Legacy Group has taken advantage of this unseasonably warm start to summer. We have each taken some time to fish, hike, float, swim, golf, camp and fill these wonderful long Montana days...

Investors have been concerned about inflation. But while year-over-year consumer price index (CPI) inflation will most likely rise in the coming months, we agree with the Federal Reserve that the rise is likely to be transitory. We see an economy reflating as it recovers from a recession, not one on the edge of a hyperinflationary spiral.

Market Recap: Global stocks continued to power upward this quarter from their pandemic bear market low on March 23, 2020. The 500 Index gained 6.3%, developed international stocks gained 4.5%, and emerging-market stocks gained 4%. These benchmarks are now up an astonishing 80.6%, 74.8%, and 74.6%, respectively, since the bottom.

To kick off the year, Brenda and her husband signed on the line for the purchase of another lot in their same subdivision, just as the cost of building materials skyrocketed 20-40%. Nothing like buying high!

As a client of the Owen Legacy Group, you may know that we have a website www.owenlegacygroup.com. What you may not know are all of the ways this website can be helpful and assist in augmenting the services we provide to you and your families.

From solid-state batteries and alphafolds, to zombie companies, corporate woke, DPUs, APIs, telehealth and more, there are numerous trends on our radar for 2021.

On December 5th our lives changed forever. We stopped into urgent care because Charlie was complaining that his leg hurt, we were then rushed to the ER, spent the night in the hospital, and the following day at the Billings clinic with one of two pediatric endocrinologists in the state.

We look back at what we’ve endured and lay out our investment outlook for 2021 and beyond. While many risks remain, the effective vaccines that are starting to be distributed provide a real light at the end of the tunnel.

I have heard so many people say, “I just want to put 2020 in my rearview mirror and move on.” But how do we move on with the shroud of 2020 still surrounding and affecting our everyday lives? What do we do when we are tired of wearing masks, and worrying? We take care of ourselves and each other and do our best. Here is an uncomprehensive list of things that have helped us stay on track, stay optimistic and connected with those around us.

Despite some choppiness in September, equity investors were treated to solid gains during the third quarter. The S&P 500 Index rose 8.9% in the quarter and has recovered all its losses for the year. Underneath the surface, mega-cap growth names continue to lead the U.S. market.

Carrie and Jon were thrilled to welcome their first child, Brody Kelly McAleer, into their family at 2:00 a.m. on Thursday, August 27. Brody weighed in at 6 pounds, 12 ounces and measured 19.5 inches long. Despite arriving very quickly and 10 days early, both baby and mother were healthy and are doing great!

Claire Anne Ashton joined the Ashton Family on February 7th at 4:17PM. She weighed 7lbs 8oz and was 20 inches long. Both Anne and Claire are doing very well and are enjoying their time together this spring.

The word “retirement” means something different to everyone and often changes as we move through each stage of our lives. We go from our 20s where we almost cannot fathom retiring, to our 40s where our lives are so busy we wish retirement were tomorrow, and into our 60s, where suddenly it has become a reality.

On the heels of their worst December since 1931, U.S. stocks opened 2019 by scoring their best quarter since the financial crisis. Larger-cap U.S. stocks gained 13.6%, placing the S&P 500 Index’s performance in the top decile of quarterly market returns since 1950. Not to be left behind, foreign equities, which were by far the most battered coming out of 2018, generated double-digit returns.

The financial environment continues to feel like a game of tug of war. On one side, we have a still-solid U.S. economy that has grown for a record number of consecutive years. While measures of manufacturing activity are slowing, global services activity, which represents upward of 70%-plus of the global economy (and more than 80% of U.S. GDP) still looks solid.

I think we are all glad to see the 3rd quarter of 2019 in the rearview mirror. If you turned on the news at any point this summer, odds are you wish you had walked out the door and onto a quiet trail instead. Even though Q3 ended the best consecutive three quarters since 1997, it didn’t feel that way for many. We did not have the quiet summer in the markets that many of us have come to expect.

It seems that winter has arrived early to Montana and snow has covered the mountains surrounding Bozeman. This is an exciting time of year for Morgan whose favorite winter activity is spending time with friends and family on the ski slopes. Over the last couple of years, Morgan has another reason to be excited: he has taken his passion of skiing and channeled it into volunteering with the Bridger Bowl Foundation (BBF).

Having trouble fitting volunteer work into your busy life? It may help to know that while spending your time in community service is viewed predominantly as a selfless activity, volunteering may be just as good for you as it is for your community and the cause you are helping. In fact, studies show that volunteering can provide multiple, sometimes unexpected, benefits.

Our portfolios generated strong returns for 2019, a bullish year for nearly all financial markets. The positive broad-based returns marked a dramatic (and welcome) turnaround from 2018, a year in which nearly all asset classes faltered.

Over the course of this year, Leah was searching for ways to expand her career and increase the value of the support she gives to the Owen Legacy Group. In the fall, Leah embarked on a 12-week learning course to earn her Financial Planner Qualified Professional™ certification.

Oliver Burnham Owen was born to Marisa Nicole Owen and Morgan Fletcher Owen at 9:08 p.m. on March 27, 2020. He weighed 7 lb, 9 oz and was 21 inches long. There were no complications other than being born during the coronavirus pandemic, and the entire family is safely social distancing at home.

After 25 years at 529 E. Main Street in Bozeman, D.A. Davidson is moving. Even though we are excited for the new office, we are sad to leave behind our well-known address.

Election season is upon us. If you have made the transition to only subscription entertainment, you may not be being inundated by negative ads, but out in the world it is hard to escape. In almost every conversation we have with clients, inevitably someone will ask, “how will this election affect my portfolio?”

For most of the second quarter, financial markets seemed to defy grim economic news, the continued spread of COVID-19, and worldwide protests against racial inequality. Global equities performed strongly for the quarter and rewarded investors who remained invested.

So you are stuck at home and watching the market go up and down, or watching your kids slowly drive each other crazy, you have cleaned everything...twice... and finished the pile of books on your nightstand and wishing there was something you could do. Since it always feels good to do something productive, and we are all going to need a break from binging on Netflix and the news, we are issuing a COVID-19 challenge.

We are living through an extraordinary period in history that none of us will ever forget. The impact on our families, communities, and country has been profound. While several weeks ago we had reason for cautious optimism that the coronavirus might be largely contained to China, it is now obvious that is not the case.

Getting in touch with her Montana roots, Brenda is fully embracing the outdoor lifestyle this summer, with a new camper and golden retriever puppy. The majority of her weekends have been spent with family exploring nearby lakes, rivers and parks.

The first half of 2019 saw robust gains across most asset classes, but it certainly wasn’t a smooth ride. Global stock markets got a jump start on the year thanks to progress in US-China trade negotiations and a newly “patient” Fed, but an abrupt breakdown in the trade talks (announced via Presidential tweet) spurred a sharp market sell-off in May.