During the past year, the best performing asset classes were U.S. large value, small, and small value stocks. Emerging markets stocks were next, just ahead of the S&P 500. The following chart shows the 1-year, 3-year, and 5-year performance of many DFA funds (representing different asset classes) compared to the S&P 500 Index: Market Returns for the period ending December […]
Quarterly Letters
Client Letter – Q3 2016
The third quarter defied expectations as world stock markets (with the exception of Great Britain) rose in the wake of uncertainties from the spring Brexit vote, the hotly contested U.S. presidential race, the threat of higher short-term interest rates, domestic and foreign terrorist attacks, international banking turmoil, and more. The following chart shows the 3-month, 1-year, and 5-year performance of […]
Client Letter – Q2 2016
During the past quarter, the best performing asset classes were real estate and U.S. large value stocks. The following chart shows the 3-month, 3-year, and 10-year performance of many DFA funds (representing different asset classes) compared to the S&P 500 Index: Market Returns for the period ending June 30, 2016 DFA Fund / Index 3 Month Return 3 Year Return* […]
Client Letter – Q1 2016
During the past quarter, the best performing asset classes were U.S. real estate, emerging markets, and inflation protected bonds. The following chart shows the 3-month, 5-year, and 10-year performance of many DFA funds (representing different asset classes) compared to the S&P 500 Index: Market Returns for the period ending March 31, 2016 DFA Fund / Index 3 Month Return 5 […]
Client Letter – Q4 2015
During the past year, the best performing asset classes were international small stocks and REITs (real estate). US stock returns ranged from -8% to 2%. Emerging markets lost about 16%! The following chart shows the 3-month, 1-year, and 3-year performance of many DFA funds (representing different asset classes) compared to the S&P 500 Index:Market Returns for the period ending December 31, […]
Client Letter – Q3 2015
Welcome to your second online quarterly letter! For emphasis, I am going to repeat the first paragraph from our previous quarterly letter, where we announced our new reporting and billing process: “Your quarterly reports and bills can now be found in the Orion folder in your eMoney Vault. We have also moved your documents from Sharefile to eMoney. Your new and improved […]
Client Letter – Q2 2015
Welcome to your first online quarterly letter! Sparrow Wealth Management is very excited to go paperless with our quarterly reporting and billing process. We have appreciated your cooperation as we migrated every client to our new eMoney software. Your quarterly reports and bills can now be found in the “Orion” folder in your eMoney vault. We have also moved your […]
Client Letter – Q1 2015
In early March, we sent out an email announcing our plans to migrate our technology to cloud-based software, which will positively change the way that we deliver our services. The time has come, and we will be rolling out these exciting changes over the next few months. With these advances in our technology, we will be able to offer our […]
Client Letter – Q4 2014
During the past year, the best performing asset classes were REITs (real estate) and U.S. large stocks. International stocks were all down between -1% and -7%. The following chart shows the 1-year, 5-year, and 10-year performance of many DFA funds (representing different asset classes) compared to the S&P 500 Index: Market Returns for the period ending December 31, 2014 DFA Fund […]
Client Letter – Q3 2014
The third quarter of 2014 was a tale of two markets—large U.S. stocks and everything else. A handful of big stocks pushed up the Standard & Poor’s 500 Index by about 1 percent over the late summer and early fall. Meanwhile, just about every other asset class that we invest in declined, from small U.S. stocks to real estate and […]
