Quarterly Letters

During the past quarter, REITs performed exceptionally well, with emerging markets stocks coming in with respectable returns also. The U.S. and international markets delivered positive returns in all asset classes. 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 […]

In December 2012, we launched the Sparrow Wealth Management online vault, which provides a secure location for all of your financial, tax, and estate documents.  So far, roughly 90% of our clients have logged into the vault using the username and password that we sent via email. For those of you who haven’t logged in yet, please do so soon!  […]

What an amazing year!! U.S. small and value asset classes earned over 40% returns, with large U.S. growth stocks and international stocks not far behind in the 20% and 30% percent range.  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 […]

During the past quarter, the international markets performed the best, with modest returns in the U.S. markets.  The chart below shows the 3-month, 1-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 September 30, 2013  DFA Fund / Index  3 Month Return  1 Year Return  10 […]

A quick period of readjustment over the last six weeks depressed portfolio returns in the second quarter, but we think the markets are now more realistically priced and may be poised to resume their upward momentum later this year. The following chart shows the 3-month, 5-year, and 10-year performance of many DFA funds (representing different asset classes) compared to the […]

In December 2012, we launched the Sparrow Wealth Management online vault, which provides a secure location for all of your financial, tax, and estate documents.  So far, about 60% of our clients have logged into the vault using the username and password that we sent via email. For those of you who haven’t logged in yet, please do so soon!  […]

Wow…what an amazing end to an interesting year! Despite a steady diet of bad news, most markets around the world climbed the proverbial “wall of worry” to log strong returns.  Major markets around the globe delivered double-digit total returns, and as a group, the non-US developed and emerging markets outperformed the US equity market. The following chart shows the 1-year, […]

During the past quarter, the world-wide equity markets performed fairly well, helping our 1-year returns look very strong.  The chart below shows the 3-month, 1-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 September 30, 2012  DFA Fund / Index  3 Month Return  1 Year Return […]

During the past quarter, U.S. and international stocks were back in negative territory, with international and emerging markets down the most.  This quarter had a negative impact on our one-year returns, leaving only the S&P 500 and real estate in positive territory for the year.  The following chart shows the 1-year, 5-year, and 10-year performance of many DFA funds (representing […]

During the past quarter, U.S. and international stocks performed exceptionally well, with international and emerging markets doing the best (as they have during the last ten years).  Ironically, U.S. stocks have outperformed international stocks during the last one year and five year periods.  The following chart shows the 3-month, 5-year, and 10-year performance of many DFA funds (representing different asset […]